Coldwell Banker Bain Rental Resources
Rental Market – Greater Seattle Metro Areas
The greater Seattle metro area continues to experience low vacancy rates across the board for homes and apartments, however home rental prices have gone up and availability has gone down significantly more due to the competitive nature of the sellers market - investors or families moving for a new job are choosing to sell instead of renting out their previous home. Home rentals often require a multi-week approach, being open to various neighborhoods while apartments in more desirable suburbs have seen a significant increase in cost, there is still availability to be found on a daily basis. Suburbs are increasingly becoming a hub for individuals who may have only been previously interested in city living, due to the continued development of complexes, lower costs and the infrastructure of local amenities to support their lifestyle. As people return to their offices and summer coming up, we anticipate prices continuing to increase across the board as they typically do this time of year.
Sample 3 Bed House
Sample 2 Bed Townhouse
Sample 2 or 1 Bed Complex
Sample 2 or 1 Bed Complex
Securing a Rental
Real Estate Agents, unlike in other parts of the country, are not the predominant listing resource when it comes to home, condo and townhome rentals. Private owners as well as property management companies manage the majority of rentals. Many property management companies only show the listings within their own company. Potential renters are looking at a competitive rental market which requires specialized knowledge of where to look for privately owned listings and an understanding of how to navigate the many property management companies that service this area.
If an individual would like to get settled to the area quickly, Coldwell Banker Bain's local rental specialist partners are available for a half or full day fee based rental tour. The rental specialist has established relationships with privately owned properties, and has access to keys for 60+ property management companies. This will allow an individual to view all listings available on the market that fit their needs.
Some added benefits to consider when working with a paid rental service
Full picture of the rental market and what is available to find the best suited rental in a shorter amount of time
Included area tour of the new city (school districts, hobbies, driving and public transit stats, amenities, etc.)
Less time in temporary housing by finding a rental property pre-move or upon arrival
Less time spent away from work and personal life to look for a rental by securing an option in a single day
Other Things To Consider About Rentals
Utility costs are separate for all dwellings, with the exception of condos – you may have some utilities included as well as parking.
In the city, parking is typically $185+/month in buildings or a paid pass for street parking that varies by zone; in the suburbs it's a possibility for free open parking, $25/month for covered spots, and $90/month for garages (if available)
All rentals will have an additional pet deposit, only apartments will do monthly pet fees (deposits are from $300-$500/pet, monthly rent can range from $35-$50/pet per month)
Deposits are typically equivalent to first month’s rent for privately managed/owned dwellings.
Apartments can require deposits as low as $99 on good credit.
To break a lease you typically pay an additional 8 weeks of rent and may still get your deposit(s) back less cleaning fees
Private owners might adhere to a different standard, such as tenant agrees to pay rent until owners find a new tenant, therefore it is important the lease agreement is clearly written and understood by both parties