Many owners consider managing their rental property themselves.  It makes total sense.  Heck, that is how I got started!  There are some pros and cons to consider when choosing to self-manage or not.   Let’s look at them and help you decide. Pros to self-management of rental property Cost savings: Not paying a property management company its fees is the most obvious benefit to self-management for owners.  In addition to the monthly management fees there can be lease-up fees, renewal fees, and many other fees that can be charged to an owner. Quality of service: Mo ..read more

In this episode of our quarterly update, CEO Peter Nelson gives a brief description of how the first quarter of this year went and then lends his projections of what can be expected in the rental market for the greater Seattle area for Q2. https://www.fullservicepm.com/wp-content/uploads/2024/04/Q2-2024-Market-Update.mp4 Subscribe to our blog and don’t miss an update! The post Q2, 2024 Seattle Rental Market Update appeared first on Full Service Property Management ..read more

In this episode of our quarterly update, CEO Peter Nelson gives a brief description of how Q4, 2023 went and then lends his projections of what can be expected in the rental market for the greater Seattle area in 2024. The post Q1, 2024 Market Update appeared first on Full Service Property Management ..read more

Op Ed: The opinions expressed here are solely the opinions of Peter Nelson, CEO of Full Service Property Management.  They do NOT represent those of the company or any of its staff. In April the City Council for Seattle passed an ordinance capping late fees at a maximum of $10…for the whole month.  Not $10/day, but simply a flat $10.  This move mirrors similar laws passed in Burien, Seatac, and Auburn. Councilmembers voting for the ordinance cited that late fees add to the problem of tenants fighting to keep up with spiraling housing costs.  That is good political spin and ..read more

Here is a quick synopsis of the Seattle Rental Market for Q2, 2023.  Recorded 4/18/23. https://www.fullservicepm.com/wp-content/uploads/2023/04/Seattle-Rental-Market-Update-Q2-2023.mp4 The post Rental Market Update – Q2, 2023 appeared first on Full Service Property Management ..read more

In the last half of 2022, winter was setting in, the holidays were upon us, the Fed was raising rates, and the pundits (whoever they are were telling us landlords to buckle down.  That was short-lived! We had been running 3% or less since before the pandemic (when we started keeping track of such numbers.)  That vacancy level is not just considered “full” by multi-family standards, it is downright crazy by any standards!!  To run at less than 3% for two solid years is, well, unheard of in this modern era.  Yet there we were. During the last half of 2022 our company did ..read more

We have started to provide quarterly market updates on the status of the rental market in the greater Seattle metropolitan area.  These updates are intended to help individuals become more informed on issues regarding the rental market in the greater metropolitan Seattle market.  This is the second video. Enjoy. https://www.fullservicepm.com/wp-content/uploads/2023/01/Q1-2023-Market-Update-9-January-2023.mp4 Disclaimer This video is the sole expression of Full Service Property Management CEO, Peter Nelson.  Any views or opinions represented in this video are personal and belong ..read more

We are excited to announce on March 1, 2023 we will be rolling out a Resident Benefits Package (RBP) on all of our properties.  The RBP is intended to greatly enhance the rental experience for our tenants.  Some of the features include: Robust renter’s insurance is included Maintenance automation for Intake, Scheduling, Dispatch, and Follow-up Credit build through rent payment reporting Semi-annual filter mailing for homes with furnaces Moving concierge to handle utilities at move-in Loyalty/rewards program with national retailers The new program will simplify the lives of our resi ..read more

https://www.fullservicepm.com/wp-content/uploads/2022/12/Negotiating-Management-Fees-draft.mp4 Negotiating Property Management Fees We receive inquiries all the time from owners wanting us to reduce our fees. We recognize that it is customary for many cultures to accept negotiation as a natural way of conducting business. This style makes perfect sense in a retail environment where the business relationship is not expected to extend past the transaction. One and done. This same logic has a dangerously false precept when applied to managing rental real estate. Property Management Is a Partnersh ..read more

It is not uncommon for an owner to become weary with a property manager.  It happens all the time.  But it doesn’t have to with some basic understanding.  Here is some insight (for owners) on how to avoid that dreadful situation. When an owner gets frustrated, it is usually from unmet expectations.  This discord has its root in poor communication.   It is important for BOTH parties to communicate clearly.  If there is poor communication between the owner and property manager then frustration is inevitable. Poor communication arises because what I say is filt ..read more