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!

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.

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.

End of Year: King County Rental Report

DT View 1521This December, 204 properties leased according to the Northwest Multiple Listing Service. King county had a 8.9% decrease in properties from the previous month. The highest priced property leased for $6,500/mo. This Luxury condo was a 2 bedroom, 2 bathroom 1,968 square foot unit in a desirable downtown location on 2nd Ave between Pike and Pine. On the contrary, the lowest priced 2 bedroom, 2 bathroom condo leased on the MLS was a 965 sq ft condo in Kent, it rented for $1,200/mo. The luxury condo spending three times the amount of time on the MLS database before it rented.

MLS data shows that 240 properties leased in Dec 2014 compared to Dec 2015’s 204 properties, a 15% decrease in leased listings from its previous year.

Lets do a quick analysis of the rental market in 2014 compared to 2015. The twelve months of 2014 shows 377 more properties leased than in 2015.  3,579 listings rented in 2014 compared to the following year’s 3,202. That’s a 10.5% decrease than the year before. Rental prices have increased over the years and inventory has gone down quite a bit. This change in the market can make it hard to find a reasonable rental in King county on your own. If you are looking for assistance contact a licensed professional who can help you with the latest market updates and find you fact access to the best MLS rental listings. Please contact an agent today with your real estate needs. 

 

 

King County Rental Update: October

shorewoodAvailable rentals this fall are dropping like the temperature outside as we take a look at the housing market in Seattle’s King County. As expected people are likely settling in for the winter months and not in search for a new place. With a significant drop in rented properties, Seattleites are seeing a whopping 47% decrease in October compared to the previous month according to data from the Northwest Multiple Listing Service. It’s typical to see this kind of change in the market throughout the season but what will that mean for the prices of rentals for those who are still in the market to rent? Are rental increases going to halt with less demand or will they continue to stay up? The MLS shows us that in October the highest priced rental property was a 4 bedroom, 3.5 bathroom home with 4,250 square feet of luxury living space. Stay tuned-in to Seattle Luxury Rentals and keep an eye on this rental market. Questions? Call a local agent today to take advantage of rentals or investment opportunities that could be available to you.

August Update: Seattle Rentals

eastlakecc

The last month of summer saw a small drop in rentals in King County this year. According to data found on the Northwest Multiple Listing Service there were 287 leased properties in August of 2015 with the average rental price being just over $4,000/mo. Statistics for King County show a slight decrease in rentals; 334 in August of 2014 compared to this year’s 287. As the number of leased properties dropped, prices for these rentals have steadily increased. The highest rental of the month this year was leased at $9,500/mo for a 2 bedroom, 2 bathroom apartment in the heart of downtown Seattle. Last year, some comparable downtown apartments had been leased for closer to $8,000/mo. For those interested in investing in rental properties it’s a great time to profit on the demands of the increasing rents in the King County rental market. Get in touch with an agent today to find out how you can benefit!

King County Rental Market: June Recap

Featured rental: 1375 32nd Ave. S

     Featured rental: 1375 32nd Ave. S

King County rental activity was up in June from May with 299 leased properties, according to stats from the Northwest Multiple Listing Service.  This number is down from the same time last year, when there were 324 leased properties in King County.  Currently, there are 283 available King County rentals on the NWMLS, with 74 of those in neighborhoods within five miles of the downtown Seattle core.  The current highest asking price is $10,000 per month for a 2 -bedroom, 2.5-bath condo in the Four Seasons Private Residences in downtown Seattle.  If you are interested in renting in the Seattle area, contact us today!

Rental Market: Vacancy Down, Rent Prices Up

Demand for rental properties in King and Snohomish counties does not seem to be waning, despite average rents having risen 10 percent over the year. Apartment vacancy rates are at their lowest point in at least 10 years, at 4.05 percent, according to Apartment Insights Washington, though in some neighborhoods the rate is much higher. Ballard has the highest vacancy rate in the area at 17.3 percent (though this is down from a vacancy rate of 45 percent for the first quarter of 2015), and as of June 4 there were 600 apartment units under construction in the neighborhood and 450 more permitted, according to the Puget Sound Business Journal. In the King/Snohomish county area as a whole, there are 22,948 rental units under construction, up 42 percent from last year. Predictably, average rent in the King/Snohomish region is highest in Seattle, at $2,226 per month, followed closely by Bellevue, where the average is $2,000 per month. For the region as a whole, the average rent is up to $1,408.

If you are looking for a rental home in the Seattle area, contact your local real estate agent today!

Update On King County’s Rental Market

rentKing County rental activity was hot in the month of May with 269 leased properties, according to stats from the Northwest Multiple Listing Service. The market picks up in the spring and summer, so we can expect the number of rented properties (and rental rates!) to increase in June and into July. This number was up from the same time last year with 244 leased properties in King County. Currently, there are 218 available King County rentals on the NWMLS, 68 of which are within 7 miles of the downtown Seattle core. The current highest asking price is $17,000/mo for a 5-bedroom/6-bathroom single family home in Washington Park. For more information about Seattle rentals, contact your local real estate agent today!