Monday, July 6, 2020

Rental Housing Outlook and the Shape of Things to Come- Industry Panel report-out




Our owner and Designated Broker, Ricky, recently attended a housing outlook industry panel hosted by Marcus and Millichap, a national commercial property research and advisory firm; “Rental Housing Outlook and the Shape of Things to Come”.  The panel was aimed around the pandemic impacts on housing and economic trends - a topic we know is of high interest right now, and below are some of the notes we’re sharing with our property owner clients and blog followers. 

If you’re interested in a copy of the full presentation, please let us know by email to office@rd-house.com

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Some of the most immediate impacts have been logistical challenges for unit showings and leasing, given state business lockdowns and social distancing restrictions.  In Washington, Real Estate was fully locked down until counties started moving to Modified Phase I and Phase II restrictions, and RD House is now doing modified unit showings which include virtual tours, pre-qualification for showings, and a focus on social distancing at on-site showings.
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S       Statewide eviction restrictions are in place across the country, including Washington state.  These add some risk to rental property owners, however RD House has not had any missed or late rent issues to date within our portfolio.  We have been working closely with tenants to assess any expected rent disruptions due to COVID 19 economic impacts, and will continue to monitor this going forward.  Should we become aware of any issues, we have a number of options we can work through with tenants.

         Nationally, housing construction has fallen short of demand, which may position specific regions for tighter inventories and upward rent pressures.  Some national vacancy forecasts range from 4.4%-5.8% in the second half of the year; in Seattle, rental unit construction over the past 18 months has continued to add thousands of units to the market, and we’ve seen some softening of rents as a result.  Construction holds since March may introduce some fluctuations to this in the months ahead.  With targeted marketing and a high focus on tenant services, RD House has maintained about a 3.5% vacancy rate on average across our portfolio.

·          Also nationally, the housing outlook varies with the length of lockdowns and the pace of economic recovery, which have both seen dramatic changes since mid-June.  This remains very much a watch and evaluate situation for markets across the country.

Friday, March 20, 2020

2020 Best in Business award for Property Management!


RD House Real Estate and Property Management is honored to receive the 2020 Best in Business award for Property Management by the Seattle Small Business Award Program! 
Annual awards for each category recognize outstanding local businesses throughout the Seattle area for their leadership in service to their customers and our community. These exceptional companies help make the Seattle area a great place to live, work and play!
We’re gratified to be recognized for what has always been the simple mission of our business:
Be nimble.  Provide full service professional property management to navigate the complexity of Seattle's rental landscape for our property owner and investor clients, and do it really well with online and mobile-enabled tenant and owner services  to provide simplified leasing, rent payment, account management and service delivery for tenants and owners.

Be great at what matters most-  sourcing and keeping great tenants, effective property operations and owner satisfaction.  This means advertising and marketing based on solid local market expertise, corporate relocation relationships, internet campaigns covering all popular rental sites, social media and video.  The result?  Our average days on market has consistently beat the local market average, as have our tenant retention and owner satisfaction.

Be your expert resource.  Seattle rental registration and inspections (RRIO) , local and state Landlord Tenant laws and Fair Housing compliance, Washington state security deposit trust accounting  – we’re geeks for this stuff. 


On behalf of our clients and tenants, thank you!