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Seattle Rents Drop for First Time This Decade

Seattle rental

Seattle rents drop for the first time in this decade and the laws of supply and demand are playing out in Seattle’s rental market. The construction boom has created a glut of rental properties and vacancy rates are up. When supply exceeds demand, price goes down, and this is exactly what is happening with Seattle rental properties. While a year-over-year comparison still shows an increase, the past quarter has shown a 2.9 percent dip across King and Snohomish counties, and up to a 6 percent dip in popular neighborhoods such as Ballard and South Lake Union The Seattle Times gave an excellent accounting of this trend in a recent article

There could also be other factors in play besides an increase in supply. Rents follow a seasonal cycle and winter/early spring are traditionally slow. Local hiring is also not at the feverish pace it has been, with companies such as Amazon showing a sharp reduction in job posting.

The busy season for renting is right around the corner, hiring trends will change, and while rents may dip in the short term, they will always eventually go up.

For more in depth information about the current rental market in Seattle, contact us and we would be happy to share our thoughts.

We’re On The List!

Did you know that we’re on the list of the 20 best property managements companies in Seattle? We are pleased to be recognized for our hard work in serving our owners and tenants. We are reliable and responsive and work to be the best we can be as well as continuing to make improvements to our systems. If you want to know more, please give us a call.

Space Heaters!

space heater

Remember the three feet rule. If you are using a space heater, place it on a level, hard surface and keep anything flammable at least three feet away – things such as paper, clothing, bedding, curtains, or rugs. Space heaters and fireplaces require supervision. Turn off space heaters and make sure fireplace embers are out before leaving the room or going to bed. Don’t catch fire! If you are using a fireplace, use a glass or metal fire screen large enough to catch sparks and rolling logs.

Gutters – Rain and Leaves!

leaves in the gutters

Keep gutters clear to help move moisture away from the house. Inform your property manager if they are clogged. One of the most common problems is when gutters are clogged, the water pools around the foundation and can flood basements or crawl spaces. Please keep all outdoor drains clear of leaves so water does not pool up in the yard. Keep an eye on drains on the street to help keep them clear also.

It’s Time!

Remember to turn back the clocks for the annual “fall back” time change. Also please check the batteries in your smoke alarms.

The MLM crew.

We have a new neighbor!

Village Kitchen

Need catering? Village Kitchen has opened next to our office in Maple Leaf. They do catering and private events. We were their first private party in the newly renovated cottage. An Oktoberfest FEAST. Cabbage soup, potato salad, mushroom stroganoff, chicken sandwiches in a pretzel bun with amazing pickles, finished off with German chocolate cake. All locally sourced ingredients. It was so much fun! Please support our new local business.

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At the Office

GFF mobile food SeattleIt was “Sunshine Bowl” day at our “Welcome Summer” party! Maple Leaf
Property Management can’t get enough of the “I Love My GFF” bowls! The big
debate was which one we like better. No one could decide, they are both
worth 5 Stars!!! What a great company function to welcome summer, and they
deliver! We added White Sangria

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