Ask lawyer: Do they help with creating LLC? Property management: https://www.ziprent.com/seattle-property-management charges flat fees. https://www.mapleleafmgt.com/ - local one from earlier. Apart from plumbing, handyman and appliances (which I’ll anyway order from Costco), what is their value add? Deal with HOA if there is any complaint. For vetting tenants before starting lease, we can use Darshan or Sanjay Lakkad. Tenant screening (but even Zillow makes this easy). Notes from lawyer:
What to look for: Notice requirement. If you don’t include some required language (“timeliness”?), then could be bad. Redmond: Rent increase: depending on %age of rent increase, more severe than Washington (WA RLTA?). Washington is the floor. Washington: Termination of tenancy: month-to-month used to be 20 days earlier. Now, need good cause to terminate. Terminating month-to-month is harder now. Best is long term. Incorporated municipal: County doesn’t come into play, such as Seattle. Unincorporated municipality, such as Vashon Island. Rent increase: Seattle: 180 days. If increase is too much and tenants doesn’t have money, you may need to pay 3k to them. Leases: Seattle: “Renter’s handbook”: needs to be given for every new/renewed lease. Disclosure to give out: mold, lead paint etc. During a lease: Repairs to be made etc. - there are deadlines for “severe”, “major appliances” and “everything else”. Security deposits: Seattle has a cap. Plus, need to sign a checklist by both parties upfront. Need justification if you want to withhold after lease expires. Right to re-entry: 24 hours if you are showing to someone else, 48 hours or so otherwise. No matter what, you can’t enter without tenant’s consent. Damages: If anything goes out of code, important to fix it quickly. If house becomes unhabitable for any reason, you may be liable for relocation. Seattle: likely need to be certified by the city. Avoiding eviction is critical: Pretty difficult just about anywhere now. (Almost illegal in Seattle.) Never do it on your own, change the lock etc. Areas: Seattle is hardest.