Rental Re-Design Tips!

Many Seattleites are choosing to rent out their home rather than selling. At times renovations and revamps can be too pricey for home owners when wanting to get the most out of selling their home. Many homeowners are looking to keep their home in their family for future generations. Whatever the case may be it can be difficult trying to make a home feel like yours. Some landlords wouldn’t mind you to do a little decorating, but some might.

With customization options at a minimum, apartments/houses often never quite feel like home for many renters. Living with your landlord’s choices for wall colors, flooring materials and finishes can leave renters feeling dissatisfied with their surroundings. But there are some things you can do to make one of the most important rooms in your rental – the bedroom – feel less like a hotel and more like your own restful and relaxing retreat. Using some inspiration from the designers at Zillow, here are some ideas:

To start with, overhead lighting in apartment buildings is usually not the most flattering, but since you most likely can’t change the main fixture in your rental, invest in table lamps or floor lamps to give your bedroom a nice glow.  Stylish lamps can often be found inexpensively at stores such as Target or TJ Maxx.

Giving walls a fresh coat of paint is one of the cheapest and simplest ways to personalize your bedroom, but many landlords are not ready to let you wield a paintbrush of your own. Check in with them first, and if you get the go-ahead, a soft grey or classic white will give you a serene space that is also a blank canvas for the rest of your personal touches.

Once you’ve painted, pick up some new bedding in your favorite color palette to add some interest to the room. Along with a nice set of sheets (Target also carries inexpensive sets that feel much more luxurious), you have an opportunity to make a statement with your duvet cover and unique throws and pillows.

Can’t paint your walls? Paint your furniture or add some adhesive wallpaper! Take an old, tired dresser, give it a good sanding and dress it up with whatever color paint you’d like. Paint the whole thing, just the legs, just the top, it’s up to you! Heavy, dark furniture tends to weigh a room down, especially if there is little natural light, so adding some color in the form of furniture can be a major upgrade and is budget friendly. Temporary wallpaper is all the rage for rentals. Do your research and find the best temporary wallpaper! Check out Pinterest for inspiration!

Now you’ve got some ideas, so get decorating!

If you are interested in renting in the Seattle area, contact your local real estate agent today!

Seattle Homes for Rent

If under 2,000 square feet isn’t enough for your next rental, then check out these homes for rent! These homes both have lots of windows to let the much needed sunlight in, and places and spaces to soak it up!

The Highlands

Spacious modern stucco residence in beautiful private setting amongst impressive conifers & magical landscape. Fine teak millwork accentuates the contemporary design & open, rich architecture. Vestibule with round atrium window is a striking venue for art display, and opens into the main floor rooms with floor to ceiling windows. Huge kitchen, five expressive fireplaces, private master suite, lower level with perfect game room & guest suite. Pool, sport court, fountain, just in time for summer!

Available for $9,500
6 bedrooms / 5.25 bathrooms
9,010 square feet

The Highlands: 149 Moss Road NW, Shoreline (MLS# 1088538)

North Capitol Hill

Stunning craftsman on North Capitol Hill. Wood floors and natural daylight throughout. Excellent woodwork, recently renovated kitchen with granite countertops top-of-the line appliances w/east-facing views of Portage Bay. Master bedroom includes fireplace, &luxurious master bath. Lower include separate entrance with second kitchen.

Specific Rental Requirements:

  • All 18 and over applicants must apply
  • Min 750 credit score
  • No co signs
  • 2 car max
  • No negative references
  • No late payments

Available for $6,200

5 bedrooms / 3.5 bathrooms

3,960 square feet

North Capitol Hill: 2818 Broadway E, Seattle (MLS# 1067866)

Downtown Condo Available For Purchase and For Rent

A luxurious 2 bedroom, 2.5 bathroom, plus den condo in the beautiful Madison Tower Condominiums in Downtown Seattle. Atop Hotel 1000, this southwest corner unit features sweeping views of the Olympic Mountains, the Puget Sound, and Seattle’s cityscape. Beautifully finished with top-of-the-line appliances throughout. Resort-style amenities available including:

  • Room Service
  • Full-Service Spa
  • Exercise Room
  • Library
  • Meeting/Conference Rooms
  • Virtual Golf
  • 24hr Concierge
  • BOKA Restaurant
  • Resident-Only Rooftop Deck
  • Valet Parking Available for 2 cars

Status Available for Purchase & Rent
Area Downtown Seattle
List Price Listing Price: $1,795,000

Rental Price: $7,500 a month

Bed/Bath 2 beds/ 2.5 bath

Rent or Buy?

Seattle Rental Market – 2016 in Review

Seattle RentalThe Seattle rental market has continued to see increasing rents in 2016 over 2015, although as we wrote last month Seattle rents have shown signs of slowing or even going down towards the end of the year.  Seattle rental numbers cannot be gathered from one source.  When looking at the Northwest Multiple Listing Service (NWMLS), the number of rented homes, the average rent, and average rent per square feet in Seattle all went up.  The NWMLS showed 1,094 vs 1,071 Seattle rentals in 2016 and 2015 respectively.  The average rent increased to $2,752 vs $2,588 from the prior year with the average rent per square feet increased to $2.38 from $2.00.  The NWMLS is mainly rentals from individual owners and does not include large Seattle apartment complexes.  In Downtown alone there was 20 new Seattle apartment buildings in 2015, 14 underway or completed in 2016, and 27 dues to be completed in 2017.  Thus the NWMLS is only a small portion of Seattle rentals.

The above picture property is a Seattle rental located on the north-end of the Pike Place Market.  The one bedroom, one bathroom condo has unobstructed views of the Sound, Market, and the Wheel. It is available for $3,675.

Click here to search the NWMLS rental listings or contact a Seattle leasing agent to assist you.

These statistics were gathered from the Northwest Multiple Listing Service, but were not compiled or published by that organization.

Rents Decreasing in Seattle?

seattle-rentalsMost have seen the headlines about ever increasing rents in Seattle.  While this overall news has been true in the recent past (meaning earlier this year), the Seattle rental market has seen some signs of relief for renters. For example, Rent Jungle shows the average apartment rent over the prior 6 months in Seattle has actually decreased by $13 (-0.6%). When looking at the Northwest Multiple Listing Service, the number of rented homes and the average rent in King County has decreased when looking at the most recent calendar month. In November 2015, there was 228 rentals which leased for an average of $2,644 per month while in November 2016 there were 214 rentals which leased for an average of $2,598 per month. The most often given reason for the decrease in rent is the number of new apartments coming on the market. Looking just at Downtown Seattle, the development map shows 20 new apartment projects were completed in 2015. At the mid-point (June) of 2016, 3 apartment projects had been completed but 11 were under construction and projected to be finished. In 2017, 27 apartment projects in Downtown Seattle are expected to be completed. This is meant to keep up with the demand of the ever-growing Seattle with new tech jobs continuing to come to the area.

If you are looking for a Seattle area home to rent, please click her to start your search for local available Seattle Rentals.

1904 Denny Blaine Rental

rental

A sun-filled, perfectly stunning home in picturesque & desirable Denny Blaine. The home was built in 1904 and has been completely remodeled since, featuring an excellent floor plan,  finish work & beautiful windows. The living room with oak floors and large windows on all 3 sides make the home feel bright and refreshing. The home offers a sun room, stately dining room, and an all new kitchen with garden access. The home is family friendly with two excellent playrooms, a guest suite, storage, and mud room. Lush grounds with a sweeping lawn surrounded by roses, lavender, graceful cedars, fig tree, and lilacs. A truly beautiful setting. Available now for $9,750 a month!

Click the link below for more info!

http://www.ewingandclark.com/dennyblainerental

January Rental Report

Jac_004According to the Northwest Multiple Listing Service January’s rental statistics are showing some promise for 2016. So what does the housing market have in store for homeowners and investors in King County? The 2015 year ended with a small drop in rentals with December showing 209 homes rented – less than the previous month. These numbers then started to climb in January to 219 properties leased. Setting the stage for a strong season in rentals. The median price in January for a rental was around $2,400/mo for a 2 bedroom, 2 bathroom, condo in Seattle. The Highest-priced rental on the MLS was a beautiful 6 bedroom/6 bathroom, Tuscan Estate leased for $12,000/mo. This estate was on the Market for only 44 days, showing us that renters who can rent at the top on the market are out there, and are ready to strike if they find the right place. These homes and many more can be found through your local real estate agents. To find out how much equity you might have in your home or how you can invest in real state contact an agent today and get the ball rolling.

Seattle Ranked Among Highest Rent Paying Cities

for-rent-signIt’s no secret that Seattle is one of the hottest cities in the country for young adults in their 20’s and 30’s and beyond. That’s not surprising information given the influx of tech related jobs with popular companies such as Microsoft, Amazon, Apple, Expedia and many more in and around the area. Add to that a fabulous art and music scene, incredible restaurants driven by award winning chefs and breath taking views, and you’ve got a recipe that has had more young people moving to the Emerald City than ever before.

In spite of  this consistent growth in the city, Seattle has still managed to elude Zillow’s annual Top Ten List of highest rent paying cities in the country,  instead sitting pretty for the last 4 years at #13. That is, until now. Seattle has placed at #10 on the list for 2015, knocking Philadelphia out of a spot it has firmly held on to for the past 4 years. That means that the Big Kahuna of the PNW is up there with the likes of New York, Chicago and Los Angeles, to name just a few.

Perhaps surprisingly for some, the list states that Seattleites paid a whopping $10.2 Billion (yes, you read the right) in rent between November 2014 and November 2015. Couple that with the estimated 20,000 more people who found employment in that time and it starts to make sense, and while it may be easy and even logical to assume the tech boom is responsible for all this, it’s not alone.

Tech companies have experienced a 5 percent increase over the last year, which is nothing to sneeze at, but it’s the construction industry that takes the cake, with an estimated 6.7 percent increase over the last year. Developers in Seattle have been rushing to meet the housing demand of the city (with 10,425 apartment units recently completed or under construction and about a 25 percent increase in apartment inventory over the past three years), but it’s not likely to be quite enough or to help ease rental prices.

“It’s unlikely we’ll see any real rent relief in Seattle any time soon,”  said CEO and co-founder of Cozy Gino Zahnd. “While there’s plenty of new construction, these projects tend to focus on luxury units. Nationwide, we aren’t seeing many new units targeted at middle-income earners.” And though Seattle has plenty of high earners eagerly looking for housing, Zahnd says “Demand will likely remain high, as long as Seattle’s biggest employers continue to expand,” and notes that it’s unlikely we’ve reached a point of saturation, particularly on the high end.

Zahnd also points out that while the construction boom has brought many new jobs to the city, it is unlikely that these construction workers are living in the high-end luxury units they’re building. “Sure people are coming for these construction jobs, but are they living in the luxury high rises they’re building?” he said. “Even with no data, I’m almost certain they are not.”

In any case, with all these new jobs, a housing boom and being ranked among the countries ‘Big Boys’ for the first time, it seems Seattle is finally beginning to be taken seriously as one of the major cities in the country, a fact locals have know for quite some time.

November Rentals Update

eastlakeSeattle’s King County rents have shown a decline in November compared to the previous month. Looking at the MLS database we see that 224 properties listen on the MLS have rented, with many of them being in a higher than average price range. It is a positive sign for investors across the city to know that even even after the rental increases that have been sweeping the city in previous months, Seattleites are still finding homes among some of the the highest priced rentals on listed with the Northwest Multiple Listing Service. In the month of November for instance, the highest-priced residential property that leased was a 3 bedroom 3.5 bathroom penthouse in Bellevue. The luxury penthouse consisted of over 3,000 square feet of luxury living space and went for $13,390 per month. The MLS database shows that while in the past three months only a handful of rentals with such prices have leased, there are still many others between $2,000-$4,000 that also rented. The average price of a rental in November was approximately $3,000/mo. If you are interested in how this upcoming season of Seattle’s rental market can serve you, please contact a realtor today.

September Rentals Update

ridge downtown rentalSeptember rentals were only slightly lower than August this year in King County. The Northwest Multiple Listing Service data tells us that while there were 287 leased properties in August, September statistics are showing 281. This is only a small change as we enter the fall season. Among these rentals are two luxury penthouses in Bellevue. One of these rentals, a 4-bedroom, 4.25-bathroom penthouse of nearly 4,800 square feet, leased for $17,500 a month. The other luxury penthouse, just as stunning but with 3 bedrooms, 3.5 bathrooms and around 3,500 square feet, leased at a monthly price of $14,900. While these particular luxury rentals are at a distance from Seattle, there were still many other rentals available within the city itself, and all of them in a much lower price range. The NWMLS shows that 19 out of these 281 listings were located in central Seattle and the prices ranged from a low of $1,225/mo to a high of $6,500/mo. The median price for a rental in central Seattle was around $2,200 per month for a 1,200 square foot, 2-bedroom apartment. With this wide range of rental availability and rents slightly lower than summer there still many opportunities to find a King County rental that’s right for you. If you are interested in leasing a property or investing in Seattle or King County properties, please contact an agent today to get information on availability.