Lower home values in the greater Maple Valley area have contributed to a larger number of single family homes being converted to rentals. Owners are drawing the line on their bottom line and resolve to wait out the real estate recovery. It’s easy to find a tenant right? While the concept of renting is simple; find tenant, tenant moves in, tenant pays rent, landlord makes mortgage payment….the realities are much different. Especially today. Who’s Renting Today? Many of today’s tenants are former homeowners. People who have good incomes but due to some sudden, unforeseen circumstance, fell behind on payments or had an adjustable loan reset which subsequently priced them out of the market. They either sold their home short, or let it go back to the bank. But other applicants are looking to scam the system and sometimes flat-out lie about their circumstances. I’ve heard of more than a few Landlord/Owners, falling for hard-luck stories, or mismanaging tenant’s funds or not following Landlord/Tenant Law and getting themselves in trouble. Many investors don’t realize the advantages of using a professional Property Manager for their rental property and get more caught in the cost that they fail to see the bigger picture
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Maple Valley Rental Market Year in Review 2009
Whether you’re thinking about renting a single family home in the Maple Valley area or are a Landlord, or owner thinking about becoming a Landlord, you may find the following numbers helpful as you gather research in the decision making process. In 2009, there were 64 Single Family homes listed as “Rented” on NWMLS. Rental properties are entered into the MLS database as a courtesy to the membership and because rental listings are not required to be entered (as other properties for sale are, it’s entirely likely these numbers could be higher. But working with what we have, it’s interesting to note that of those 64 properties listed and rented, the highest listed rented amount was $2600 per month and the lowest was $550.The average monthly rent for ’09 was $1663. Compared to 2008, this is an increase in units rented of about 15%. The high rent for ’08 was $3250 while the low was $1250. The average rental amount was $1851.
Horse Property For Lease Tahoma Schools
This 4 Bedroom home is situated on 1.76 acres near Spring Lake in Renton but falls within the Tahoma School District boundaries. Owner is willing to consider dogs and cats with a deposit and horses with no additional deposit required. Property features two pastures and run-in sheds. Home was built in 1990 and has tile flooring, Oak Kitchen and a wood-burning fireplace. Offered at $2200/month. Terms: 12 month lease, first and security deposit equal to one month’s rent. Additional Pet deposits required. Call to see today: 425-413-0998 RE/MAX Select RE Property Management