All Forum Posts by: Scarlett Tao

Anyone knows how much does it cost to do a fire escape ladder inspection? I got a quote from a reputable local company and it’s $6600!!! This property is only 3 stories and 3 units! I’m in Seattle, but the rules applied are universal. All of these outdoor fire escape ladder need to be inspected by a structural engineer every five years. I googled, but not very much info. Called another company, only to find out that they are the sub contractor of the first company. Called several structural engineers and few of them ever did it. Help! Help! Help! The $6600 is for inspection only. No idea how much more for the maintenance, or even reinspection.

1 Vote

Seattle, Washington

1 Vote

Seattle, Washington

Recently 2 new grads from out of State applied to rent my vacant 3 bed apartment. (They are hoping to find a third roommate soon) They haven’t got jobs and don’t have enough savings, so we ask for a co-signer. However, according to my property management company, the co-signer is required to prove 5 times income to the rent, which is $13500/month. So the prospects walked away. I agree with my property manager that this is a reasonable ratio, because the co-signer need to cover their own house spending as well. But I also doubt this requirement is a gentle no, and will make it difficult to rent. There aren’t many people making that much. And since it is a 3 bed, it’s very likely will be rented to roommates, who are young people.
We are in Seattle area. $2700 for a 3 bed is lower than the market. I’d like to hear any thoughts, advice.

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My property management company failed to bill several thousand utilities to the tenants. And the tenants already moved out. Could I hold the management company responsible for this? Need some legal advice. Thank you!

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I have a multi family property in downtown Seattle. The interior of each unit is updated. However the curb view and the yard is ugly, compared to the competitors. How much more a tenant would like to pay for a better curb view and yard? (Small yard for the 9 units). Or the rent would be the same, but it rents faster?

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Seattle, Washington

Landlords and professionals,

How could I find a reliable property management company/ leasing agent? My current one was recommended by my real estate agent. Seemed to be a good one until they started to work for me. Take forever to finish some repairs/update. Not good at leasing units. Their website/online review/office are Okay.
But I don’t know if the next one would be the same.

I have a multi family in downtown Seattle.

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I think it is probably perfect for 2 roommates with 2 separate bedrooms and 2 separate office and 2 separate baths. :) But how do I market it? People who are of this situation probably are looking for 2 or 3 beds, and won’t see this one. People who needs 4 beds might find this one too small.

Originally posted by @Alexander Gonzalez:

Hello Scarlett!

Did you have the unit staged for the photos? Perhaps it would be worth paying for professional staging to help potential candidates envision the possibilities of the space. As mentioned above, the space is pretty small to market to more than two people living in the unit. Marketing one of the bedrooms as an office space could appeal to a working professional who now works from home and meets the financial requirements you have laid out for your tenant qualification. There are some very well qualified professionals offering their advice in this thread. I would upload some pictures of your unit and allow their real estate minds to be able to offer you more advice or insight on what you may be missing. I am seeing that 1bed 1 bath 640 sqft B class apartments are renting for about $1,600-$1,800 a month in the Lower Queen Anne area. So this is an interesting situation. But nonetheless, one that can be solved effectively.

Don't allow discouragement to creep in, you could be five feet away from striking gold!

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Hi Pattie,

How do I find a good management company? Your reply reminds me that mine ended a lease purposely which was in winter and that one took a long to be rented out in a much lower price. They’ve made all these mistakes all the time. But I’m still hesitating to change. How do I know if the new one is a good one?

Or if they do the due diligence, they are the same.

Originally posted by @Patti Robertson:

I have to agree with @Jim S.. People with enough family members to need 4 bedrooms usually want a house. Unless you have a fancy unit with amenities like a pool or gym, it will be tough to find someone with almost $6k/month of income and a credit score over 650 who want to live in an apartment building. I would advertise for a section 8 tenant. Remember too that almost no one chooses to move in winter months. I personally won’t expire leases from Oct-Feb because there is such a low number of qualified applicants in those months. I have literally rejected 90% of our applicants this winter. I would suggest pulling your ads down for a few days. Update your photos and verbiage and relist it. Most people searching sort by new listings. You need to get yours back on top. Your property manager should be automatically doing this.

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The property management company did tell me that they turn off a couple of applications because they couldn’t meet the screen requirements. Does it help if we lower the credit score from 650 to 600?

Originally posted by @Jim S.:

If it's has sat for 5 months you are doing something extremely wrong. 4b2b and only 900 sq. ft? Way too small for most. Condition??? Price for your area & size? Credit over 650? Sounds like you are asking for a top quality tenant but your not providing top quality housing. I apologize if I am wrong.

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