Property Management
What we do:
Redside Partners is a real estate management firm located in Seattle; we focus on managing residential and commercial buildings throughout neighborhoods such as Capitol Hill, Queen Anne, Ballard, West Seattle, Fremont and Greenwood/North Seattle. Originally beginning in a basement in the late 1990’s with only a handful of properties, Redside has grown to include a carefully selected and diverse portfolio of buildings. Our property management business is predicated on maintaining strong, long-term relationships. Even though Redside now manages properties throughout the city, it is still a boutique firm, reliant on a “hands-on” approach to provide the best possible service.
How we do it:
Consistent attention to details enables Redside to add value to buildings. The properties we manage consistently outperform market indices based on revenue and vacancy rates. As recent as the 2nd half of 2011, Redside’s vacancy rate was less than 3.0%, while the market vacancy rate was more than three times that amount.
The company’s progressive ideas, focus on property management, frequent site-visits and accounting mechanisms help to closely monitor income and expenses. We believe our relatively small size and property management focus are strong benefits. We are not spread so thin that we cannot spend time on your investment. We are focused on property management in the city. Redside also offers benefits usually reserved to larger companies, such as a group insurance program.
As anybody who has lived in Seattle for a few years knows, it can be a small town. We take a great deal of pride in how we manage people’s investments and we encourage you to ask around town: how does Redside Partners compare?
Property Management is a service and time-based business
It takes a commitment to turn apartments over, do the work to update the units, and re-rent them to good tenants in a timely fashion.
It takes a commitment to maintain open channels of communication with tenants to and address their ongoing needs, many of which are more than just the maintenance of their apartment.
It takes a commitment to chase down folks who don’t pay their rent.
It takes a commitment to work with building owners, making updates or remodeling buildings so they continue to attract good tenants.
Who will consistently make these commitments? We believe Redside Partners is the best firm for this work.
A bit more on what we do:
We rely on mutually developed plans between the owner and Redside to effectively manage buildings.
We’re true believers in the old adage, “failing to plan is planning to fail”. Thus, understanding the property owner’s objectives, and aligning our goals with theirs, is critical to our success. Maybe the property is held in a family trust and cash flow is vital to the trustees? Maybe the investors are younger and want to upgrade the building now to ensure better cash flow in five or ten years? Whatever the goals are for the investment, we strive to fully understand them and make those goals our own.
We carefully monitor expenses.
Every dollar spent is a dollar that does not make it to the bottom line. Redside Partners is absolutely focused on expenses. We manage property expenses in the same conservative and watchful manner that we manage our own money.
We hustle to get and keep good tenants.
We are keenly aware that tenants have plenty of other choices. Consistently providing great service to existing and prospective tenants is crucial to good property management. For prospective tenants, we make property showings convenient; the application and screening process is thorough, yet quick to keep prospects ‘on the line’.