Is a Property Manager Worth It for One Rental in Washington?

What managing one rental involves

Even one rental is a steady list of jobs. You set the rent, market the home, answer questions, screen applicants, sign the lease, collect the deposit, collect rent each month, handle repairs and keep records for tax time.

The work is heaviest when a tenant moves out and a new one moves in, and when something breaks. Those are the times to have a plan, and help, ready.

The Washington rules you would follow yourself

• Before you obtain screening information, give applicants written notice of your screening criteria and the type of information obtained; screening fees may not exceed the actual cost (RCW 59.18.257).
• Repair deadlines after written notice: 24 hours for no hot or cold water, heat, electricity, or an imminently hazardous condition; 72 hours for a landlord-supplied refrigerator, range and oven, or major plumbing fixture; 10 days for other repairs (RCW 59.18.070).
• Entry: 2 days' written notice for inspection or repairs, and 1 day's notice to show the unit, emergencies excepted (RCW 59.18.150).
• No late fee may be charged for rent paid within 5 days after its due date (RCW 59.18.170).
• Within 30 days after the tenancy ends and the tenant vacates, refund the deposit or give a full and specific written statement of deductions (RCW 59.18.280).

What a property manager takes off your plate

When Jevons Property Management manages your home:

• Screening checks credit, income, rental history and references against written criteria.
• Move-in covers deposit collection, lease signing, utility setup and a photo-documented condition report.
• You see rent, bills, statements and maintenance invoices in a secure online owner portal, 24/7. We run on AppFolio.

We are a licensed and insured, full-service Washington State property management company, managing rentals since 2008. We own rentals ourselves, so we manage with an owner's mindset.

What it costs

Our fees are published. For a single-family home, management is 4.9% of the monthly rent collected, with a $98 minimum. For multifamily, it is 4.5% per unit, with an $88 minimum per unit. The leasing fee is $800 for a single-family home and $700 for multifamily.

4.9% of $2,000 is $98, so on a single-family home renting for $2,000 or less, the $98 minimum applies.

Set that against the value of your own time. Only you can put a price on your evenings and weekends.

When doing it yourself can make sense

Self-managing can work if you live nearby, have time for showings and repairs, and are willing to keep up with the rules above. A manager may make more sense if you live far away, work long hours, or would rather not handle repair calls yourself.

Whatever you choose, ask any manager you consider: Are you licensed in Washington? Are your fees in writing? Are your screening criteria written? Can I see my statements online? If you are weighing renting against selling, see Didn't Sell Your House?

Frequently asked questions