Interested In Renting Your Property?
Thank you for considering our company for property management. If you would like to meet with our Property Manager, please call and we will set up an appointment to meet you at the property. During this visit, the Property Manager will address the questions that you have and give you suggestions
and tips for the property for the rental market, if needed.
Our company has been managing properties for over five decades, founded in 1960. Over the decades of management services, we have managed hundreds (probably more like thousands over these years, if we had kept count) of properties and developed practices and procedures that we feel are important to a successful relationship with both Owners and Tenants. We specialize in the management of single-family homes, duplexes, and
Condo/Homeowner’s Associations (see our link for association management).
If you decide that you would like our company to manage your property, we will ask you to sign a contract for one year which authorizes us to provide
management services on your behalf to collect and distribute money from your account, and act as your agent in all areas relating to the management of the property or the association.
For single-family homes, at the time you sign your contract, we have an information sheet you will complete and it will give us the guidelines for marketing your home as well as pertinent information regarding the property. You will let us know what amenities will be included with the property as
well as some choices you can make, such as allowing pets. We will also advise you about the effects these guidelines might have in regard to our
ability to rent the property. For example, some Owners do not want to leave a refrigerator or prefer not to have pets. These two situations create
longer vacancies for rental property homeowners. You can always notify us of changes you would like to make so nothing is “set in concrete.” What
works one time the property is available, may not work at another time due to the market conditions at the time the property is available.
After the contract has been signed, we will begin marketing the property. We advertise in the local newspaper, place information about the property on
our website and other company marketing pages as well as military housing sites and others that promote properties available in our community, promote it on our marketing sheet, and put a sign on the home.
When prospective Tenants contact us, we will “pre-qualify” them for income, ability to rent when the property is available, discuss the directives we have for the property to be sure that they meet those guidelines and then make an appointment to show them the property. Prospective Tenants are always accompanied by a staff person when viewing the home.
If they decide to rent the property, they will complete an application, and pay the screening fee and an “earnest money” deposit for the property.
The information is provided to the screening company. It usually takes 24 to 48 hours to have the results in our office. We often have the
preliminary information back in three to four hours so we can tell if it is an application we are going to pursue. If the preliminary information is
unfavorable, we reject the application and pursue another applicant. Just in case the application is not approved, the property remains on the market
for other prospective Tenant inquiries.
Property Management Services:
Market and Lease the property
Act as your Agent to negotiate with the Tenant
Coordinate repairs and maintenance
Prepare all documents for the lease and any extensions or renewals
Communicate and negotiate with the Tenant and the Owner
Collect and distribute monies to and from your account. It can be mailed to your personal mailing address or to a banking institution you designate for deposit.
Provide regular accounting statements showing monies collected and distributed
Provide a 1099 on or before January 31st showing gross income received Notify Owner of extensive repair and maintenance requests
Notify Owner of information relevant to the property and the tenancy
Provide information and/or advice that could be helpful to the Owner during the management period
Follow the guidelines of the Landlord-Tenant Act, Human Rights Law, local, state, and federal laws and regulations in regard to rental properties and any other entities that affect the management of property, provided the information is available to us.
Related duties as they apply to the Owner and the property Order notices to be served, as required, to the Tenant
Owner information and property preparation:
Provide proof of Ownership at the time the contract is signed (property tax statement, copy of mortgage statement, or some document) showing that you are the legal Owner.
Sign all documents and provide information as required. An example is the Lead Based Paint statement. Depending on the property and its age, there are various disclosures that the Owner must make to the Tenant.
Provide Northwest Properties with Contract, W-9 IRS form, and contact information of additional parties we can call in the event of an emergency
and we are not able to reach you.
Provide insurance binder naming Northwest Properties as “additional insured” and to provide annual renewal confirmations of insurance.
Provide address, phone numbers, e-mail, and other information for your new residence so that we know where to call and/or mail statements and
information and to update that information as it may change during the management period.
Disclose to Northwest Properties any information that would be important for us to know or for the Tenant to know about the property.
Provide four sets of keys to the property
Provide the $300 reserve for the property prior to leaving the area; if you will be out of the country, then the reserve is $500.
Provide monies as required to maintain the account and pay vendors and contractors.
Provide a property that is secure and all safety requirements are met (deadlocks, smoke detectors, carbon monoxide detectors, windows that will
open and lock when closed, fire extinguisher, paint that is not peeling or can be easily removed, or other items as may be required by local and
federal law and our company requirements).
Maintain utilities during the time the property is vacant
Leave the property in a condition “ready to rent” or arrange for and provide monies to pay for work to be done by contractors to prepare the
property for rent after you vacate the property
FEES COLLECTED FROM TENANT:
Tenants have fees and expenses that they are required to pay according to the lease contract to the Agent and those fees are collected into the
Owner's account. Owner grants Agent the authority to distribute those fees to the Agent as described in the following section:
- Late fees - 75% to Agent / 25% to the Owner
- Additional rent funds paid by Tenant for additional residents in violation of the lease). 10% of additional rental monies collected.
- NSF check fees - 100% to the Agent
- Re-inspection fees - (Fee paid to the Contractor when Tenant misses inspection).
- Utility service restoration - 100% paid to Agent or contractor for time spent at property
- Forfeited rental application earnest money fee - 50%
FEES COLLECTED FROM OWNER:
- Monthly Management Fee -10% of Gross Rental Amount ($50 minimum)
- Forfeited Rent, Collection Receipts -10%
- Annual 1099 Preparation Fee - $5.00
- Leasing Fee paid at inception of each new tenancy - 30% of gross rent
- Advertising - Actual cost for special advertising
- Cancellation Fee -One-Month’s Rent
- Vacant Property that is not listed for rent or for sale - $50 monthly not to exceed 90 days
Fees are outlined in a schedule as part of the contract.
Explanation of terms:
Gross Monthly Rent - Amount equal to the scheduled gross rent regardless of any credits or deductions allowed by the Owner.
Marketing Fee - Fee charged when property has been successfully leased after a marketing and vacancy period.
Advertising Fee - If the Owner desires special advertising for the property other that what is normally provided by the Brokerage, Owner will pay actual
Cancellation Fee - Fee charged if contract is cancelled during contract period
Vacant Property that is not listed for rent or for sale - Occasionally an Owner does not want to re-rent the home or list it for sale but would like
us to continue to “keep an eye” on the home. There is a monthly fee for that and we will only do it for 90 days.
We have designed our Management Department to be convenient to Owners and Tenants. We have organized our staff so that they perform the specific and varied duties appropriate for the management of properties. All staff members work together as a team to accomplish the daily needs of Owners and Tenants.
Once a property is under contract, most of the questions that arise are specific to rental inquiries, bookkeeping, leasing, maintenance, and
marketing. We found that in many companies, if you want information you can only talk to a specific Property Manager and if that person is not
available, you have to wait until they are.
Our staff members perform specific duties while working together as a team so when an Owner, Tenant, Contractor, or Prospective Tenant contacts our company, there should always be someone there to assist the person. Our Property Management Team is as follows:
- Property Manager
- Maintenance Coordinator
- Broker/Owners of Northwest Properties Agency, Inc.
Our goal is to be able to respond to inquiries as they are received. Occasionally it is necessary to speak to a specific person but ordinarily any staff person can provide information to Owners and Tenants when they contact us.
Our Property Management office is open Monday through Friday. We have an emergency contact system for evenings, holidays, and evenings if a Tenant has an emergency when we are closed.
Our website has been a great resource to our Property Management Department. We are able to market our properties locally as well as nationally and have enjoyed great success in that area. We also have provided an easy communication system for our Tenants. They can communicate with us by phone, E-mail; through our website they can complete a maintenance request online.
We are proud of our Property Management Department and appreciate the opportunity to meet with you to determine if we are the right Brokerage for
you. We have tried to design our management services so that we can meet the needs of both the Owners and the Tenants.
We recognize that beyond all of our responsibilities to the Owners of the properties we manage, the reason it all works on a daily basis is by having
satisfied Tenants who will remain at the properties they rent for as long as possible providing a steady income source for the Owner of the property. We try to approach solutions to the daily questions and problems that arise by keeping in mind what we would expect if we owned the property ourselves as well as the services we would expect as a Tenant.
If you would like an appointment with our Property Manager, call our office 253-584-3633 and we will arrange an appointment to meet you at the property. If you are considering selling your home, let the Property Manger know and we can have one of our Broker or a Sales Associate provide you with the appropriate information if you should chose to sell the property.
Owning and retaining, as much real estate as you can afford is still the greatest investment you can make and we encourage everyone to keep any real
estate properties if it fits into their portfolio and financial planning. However, we realize that it is not always possible. Some people just are
not comfortable owning rental property so we can help you with either of your real estate needs.
There will be ongoing situations and expenses, depending on the time of the year the property is vacant: you can hit a “down market” and have a
longer-term vacancy than you have had in the past, you could have a Tenant who does not pay the rent and you have to have them evicted and encounter larger than normal expenses to prepare the property for a new Tenant, the older the property gets there will be larger expenses for replacement of appliances, furnace and hot water heaters, fencing and decks, and the roof. But that is the reason the IRS gives you a depreciation tax break, so you can save the money for those expenses.
Although being a Landlord is not everyone’s “cup of tea,” as the Management Brokerage we handle all the day-to-day problems and detail for
you. The knowledge, detail and responsibility for a rental property owner is most common reason, more people do not have rentals. They are not sure
they know all the correct procedures and laws related to rentals and they just do not want to be bothered by the constant interaction with the
Tenants. While we cannot protect you from every problem as an Owner, we can relieve you of the day-to-day frustrations that prevent many people from enjoying the benefits of owning investment properties.
If you are comfortable with the idea of becoming a Landlord there are many financial benefits. Your property usually continues to appreciate over the
years and is an income source to use toward the existing mortgage and expenses. Your will enjoy some tax benefits which is always helpful. We
have many properties that have managed for 10, 15, 20 years and a few over 30 years! These properties have doubled and tripled in value. The rental
income has also increased substantially. Owning rental properties is still one of the best long-term solutions for retirement income.
We look forward to meeting you and answering your questions and discussing our services.
Bill and Pat Price
Northwest Properties Agency, Inc.
Sales and Property Management Services
Thinking of Selling?
We can provide you with information on the value of your home and related information on costs of selling and marketing ideas.
We can provide:
- Prepare a good-faith estimate of your home
- Conduct a preliminary qualification of prospective buyers
- Assist in arranging affordable financing
- Make a comparative study of your home
- Offer application assistance to qualified buyers
- Contact you regularly to report the selling progress of your home
- Review your competitive selling position every 30 days
- Information on Home Protection Plan to make the home competitive with new homes
- Photograph your home for marketing and promotional use
- Submit a photo of your home for Internet listing on various websites
If you are unsure, we can list the home for sale or for rent, whichever comes first. Ask us for details about this program. To arrange an appointment for us to preview your home or if you have questions, you can contact us at the phone number below or send us an e-mail inquiry to firstname.lastname@example.org
Northwest Properties Agency, Inc.
9527 Bridgeport Way SW
Lakewwod, WA * 98499
Office: 253-584-3633 Fax: 253-581-5898
We have a more detailed version of this information for a Property Owner that can be mailed or e-mailed to you. Call 253-584-3633 to request a free
copy, or e-mail your request to email@example.com.
Please also provide a complete mailing address and property address.
News for Property Owners
From time to time we will post information that we feel is informative to our property owners.
- firstname.lastname@example.org - Rent increases, lease concerns, tenancies, marketing, new property management appointments, contracts, other issues not listed below
- email@example.com for addresses changes, bookkeeping questions, statement questions, proceeds and mortgage payment questions
- firstname.lastname@example.org for questions about lease renewals, tenant information, notices to vacate
- email@example.com for bids, repairs and maintenance to the property
Make any checks payable for your account payable to: NWP (or Northwest Properties Agency, Inc. if you prefer)
- Monday through Thursday 8:30 a.m. to 5 p.m.
- Friday 8:30 a.m. to 4 p.m.
We are closed on holidays. We also tell our employees not to come to the office if there are dangerous road conditions and we send them home if there is a weather concern that could cause a problem for them to get home safely. If you receive our voice mail, just leave a message in our general mail box and we will return it when we return.
Northwest Properties Agency, Inc.
9527 Bridgeport Way SW
Lakewood, WA. 98499
End of the Year Reports
1099 Information will be mailed out no later than January 31st. Be sure to send us any address changes prior to January 10th. When you get your report, be sure to verify your social security number! Any changes must be sent to us by early February. If you cannot call, please email firstname.lastname@example.org.
E-mail addresses and Phone Numbers If you change your e-mail address or you have not provided us with an address, please send it to email@example.com.
Many times we cannot reach owners during the day, so it is helpful to have e-mail addresses and cell phone numbers. If you can receive calls at work, then we should have that number. In emergency situations, it is important that we are able to easily reach you. If you know you are going to be on
vacation, you should provide us with an alternate contact where we can leave a message (if you do not have a cell phone).
Are you going to be in the area and want to see your home? If you know you are going to be in the area and want to see your home and/or want to arrange a meeting with the Property Manager or someone on our staff, please let us know in advance so we can make the proper arrangements.
We are required to give the Tenant notice in writing for an inspection 48 hours before going to the property. However, if you wait to the last minute to let us know, they may be out of the area, having a baby, or have some family arrangements that might prevent you from seeing the home when you
want to. Also, we can make sure that the staff person you want to see will be available during your stay. Please allow us ample time to make the necessary arrangements.
If you have a home on the market right now, it is vital that it is competitive with other properties that are available. It should be priced right and show well. Tenants have a wide selection of available properties to choose from as they look for a rental, so the better it shows, the more likely it will rent.
There are three simple rules about real estate: location, condition, and price. Since you cannot move the home, you may need to make changes to improve the condition and adjustments in rent to attract prospective tenants. No one likes to spend any more money than needed but if your home
needs painting or fixing up, now would be the time to do so.