Property Management Fees Washington

What are the property management fees Washington landlords can expect when they hire a property manager? Landlords in The Evergreen State know how time-consuming rental property management can be, but determining exactly how much it would cost to get your time back isn’t that simple. Here’s why:

Whether due to location or fee structure, property management fees charged by companies in Washington tend to vary. Plus, most companies apply a range of fees instead of a flat-fee price. That makes budgeting for exact monthly expenses complicated and unclear.

If you’re wondering about property management fees in Washington, you’ve come to the right place. Let’s break down the typical costs, fees, and pricing for property management in Washington. We’ll discuss what the usual fees cover, and what costs look like in popular cities. Let’s start with an overview of common costs:

Common Costs

You probably won’t see too much variation in property management fee prices between companies. In Washington, you’ll notice the most significant differences in costs when you compare prices in different cities, so expect things to vary from Seattle to Tacoma.

The property management fees Washington companies charge landlords include an initial startup fee and a monthly management fee. Additional charges apply to services not covered by the monthly management fee, including eviction management, tenant placement, or vacancy fees.

Here’s a detailed analysis of the property management fees Washington companies typically charge:

Monthly Management Fees

The monthly management fee is the core of property management fees. Property managers typically charge this fee as a percentage of the monthly rent, but some property management companies offer a convenient flat fee. In Washington, the average monthly management fee is 7%–10% of the unit’s monthly rent.

Most monthly management fees cover:

• Day-to-day rental property operations
• Rent collection
• Accounting
• Tenant communication
• Emergency response

Tenant Placement

Property managers go through the leasing process to find, screen, and secure qualified tenants for your vacant rental property. This fee is usually 50% to 100% of 1 month’s rent in Washington.

Tenant placement fees cover:

• Listing marketing
• Property showings (open houses and renter tours)
• Tenant screening
• Preparing the lease agreement
• Communication with applicants

Annual Inspection Costs

It’s never too late for preventive maintenance. Property management companies in Washington handle annual property inspections for a fee of $50–$100 per inspection.

The annual inspection fees cover:

• Annual safety and unit condition inspections
• Move-in/move-out inspections
• Locally mandated inspections

Maintenance

When tenants submit maintenance requests, property managers address the issue. Companies in Washington charge for the property manager’s time by adding a markup fee to the repair cost. The average maintenance fee is 10% of the repair cost.

Maintenance fees cover:

• Communicating with tenants
• Hiring the contractor
• Coordinating the repair
• Overseeing the work

Lease Renewal

When you retain a tenant and they want to stay in your unit for another year, property managers take care of the lease renewal process. This fee is usually a percentage of the unit’s rent. In Washington, most companies charge 25%–50% of one month’s rent.

Lease renewal fees cover:

• Updating the lease agreement
• Completing all required paperwork
• Obtaining signatures from the tenants and the landlord
• Communicating with tenants

Eviction Costs

Evictions don’t usually come as good news to landlords, but when they’re necessary, property managers take the work off your plate. The eviction fee covers the time it takes the manager to handle the eviction. In Washington, most companies charge for court costs and a flat fee of $600–$1,200, depending on the case.

The eviction fee covers:

• Paperwork related to the eviction case
• Attending court
• Managing the case on the landlord’s behalf

Vacancy Charges

While property managers are responsible for filling your vacancies, if you have a unit without a renter, they charge you a vacancy fee. Vacant units require additional work for property managers, so this fee compensates the manager for their time. Property management fees that Washington landlords pay for vacant units typically range between $50 and $100 per vacancy per month.

Vacancy fees cover:

• Maintaining the property in good, clean condition
• Monitoring the property
• Responding to emergencies (water leaks, property damage, or security issues)

Costs in Popular Washington Cities

Now that we’ve reviewed the basics of property management fees, let’s take a look at what costs look like across different cities. Here is an estimate of the property management fees Washington landlords can expect to pay in Seattle, Bellevue, and Redmond:

Seattle

• Monthly management: 8%–12% of the monthly rent
• Tenant placement: 50%–75% of the first month’s rent
• Maintenance: 10%–20% of vendor cost

Bellevue

• Monthly management: 7%–10% of the monthly rent
• Tenant placement: 50%–75% of the first month’s rent
• Maintenance: 10% of vendor cost

Redmond

• Monthly management: 6%–12% of the monthly rent
• Tenant placement: 50%–100% of the first month’s rent
• Maintenance: 8%–10% of vendor cost

The Final Word

Hiring a property management company adds a number of costs to a landlord’s monthly expenses. Property managers who charge a single flat fee are the most budget-friendly option, as landlords know exactly what their monthly bill will look like. However, most companies charge a monthly fee plus additional charges that aren’t as easy to predict.

Now that you have an idea of what you can expect when hiring a property manager, you might be wondering what other options you have.

If you’re not ready to commit to the unpredictable fee structure that most companies use, self-managing with TurboTenant may be a better option for your business. You can get leads, screen tenants, create leases, and collect rent online, for free.

Sign up now to kick unwieldy fees to the curb.

Washington Property Management Fees FAQs