Sagareus Real Estate is the Puget Sound's Investor Choice Property Management Service.
We developed our management service offering with the active real estate investor in mind. "Retail" landlords will benefit from our approach as we view your property as an asset, a vehicle designed to produce income for you and your family.
Our aim is to maximize revenue, reduce expenses, prevent major repair issues in the future, and provide accurate reports so property owners can make informed business decisions.
Please use the links to the left to learn how we measure success and accomplish this aim in each category.
Attracting High Quality Tenants begins with preparing the property for photos and showings. We showcase every property in the best possible light by ensuring properties meet the "Rent Ready" Standards.
Rent Ready Standards
A high quality listing, attracts high quality applicants. A high quality rental listing includes appropriate asking price, professional photos, video walk thru and a complete advertisement. Check out our current Rental Listings Here.
From here, we employ dedicated, professional leasing staff ready to answer any additional questions, prequalify prospects and show properties at prospect convenience.
Application, Screening & Lease Signing
Our online application makes applying from a computer or phone quick and easy.
Once submitted, our team completes the comprehensive screening process including Credit Check, Criminal Background Check, and Eviction History; Next, confirm rental history and verify income. Finally, lease terms are negotiated and confirmed.
Once applicant is approved and all terms are agreed to, the Leasing Advisor sends the final lease document out for e-signature, collects the Security Deposit and schedules new Residents for Move In!
Quality Tenants expect and deserve quality service.
Sagareus Resident Coordinator's primary responsibility is ensuring every Resident has a positive experience while residing in a Sagareus managed property. This responsibility is broken into 3 primary functions:
Our deliverables on this key function include 24 hour or less response time and 5 business day or less request fulfillment timeline, obviously maintenance tasks are handled by priority.
Other Resident Requests are general questions, inquiries or complaints; Resident Coordinator is usually able to answer each question with access to our ever growing Resident FAQs page. Otherwise, requests are responded to within 1 business day.
When Residents decide it's time to move, Resident Coordinator springs into action to ensure Turn Over and re-lease are scheduled well in advance.
When surveyed, our current investor-owner clients pointed to our InHouse Maintenance program as the primary reason they stay with us and refer us to their networks.
Sagareus has invested in developing an InHouse Maintenance team that allows us to provide superior Resident Services, Turn Over Units in 10 days or less, and complete regular preventative inspections -- all at a fraction of the cost to our Client-Owners.
Property Maintenance ensures your investment is protected over the long term. Through a series of regular maintenance inspections and functions, maintenance problems are prevented BEFORE they become a major problem.
The primary goal of the Preventive Maintenance Checklist are to prevent common problems post move in. This effort reduces costly maintenance calls and keeps happier, longer term tenants. The tasks below are done in conjunction with any other turn over work and the combined effort reduces overall cost for the property in the short and long term.
Last but not least, all properties are enrolled in the CAM Program, which systemizes property maintenance designed to reduce costly maintenance calls and necessary work at turn over.
Conducted 6-8 weeks prior to lease renewal; Owner to receive complete Property Inspection with pictures + recommended repairs / maintenance
Completed 2-4x / month
Basic Bookkeeping includes receiving and recording rent payments, property bills and invoices. Of course, our team fulfills this basic function for all properties.
Sagareus has tasked the Accounting Department to challenge bills on behalf of our clients. Rather than merely receiving, paying, and recording a bill, our Accounting Team is expected to critically examine each bill and make suggestions to reduce costs.
We do this by comparing what other clients / properties are paying, so we understand the averages; When we find an outlier, our team is empowered to speak up and offer ways the property can save on expenses. With this policy in place, our accounting team has made recommendations to reduce costs in the following ways:
Utility Bill Back
In addition, Sagareus DOES NOT put water / sewer bills in tenant names. Instead, Sagareus receives all bills and then "bills back" the tenants by adding the utility charge to the resident ledger.
Sagareus does this for 4 reasons:
There are several reports generated by the Sagareus team throughout a management cycle:
Sagareus Property Management rates are competitive in the greater Seattle market. Sagareus Fees range depending on a few variables, the ranges:
Veterans and active investors qualify for a management discount, be sure to ask if you qualify!
Please read this article for a complete discussion on Property Management Costs.
Client-Owner distributions are sent via EFT between the 19th and 23rd along with monthly Rental Owner Reports. Reports and distributions are sent directly from the accounting department with your account representative cc'd on the email.
Accounting is available to answer any accounting questions via email immediately; Any property / resident related questions should be directed to your Account Representative.
No. We will approve the first applicant(s) that meet minimum requirements that agree to a lease start date of 10 days or sooner.
The Authorization Amount is the amount Sagareus is authorized to spend on your property without your consent and is outlined in your Property Management Agreement.
The recommended authorization amount is at least $1,500. This amount would cover the replacement of a water heater, which would only be done if absolutely necessary.
Keep in mind, our goal is to keep expenses down, so this amount is reserved for emergency, last resort issues only.
The minimum allowed authorization amount is $500; Any less than this prevents Sagareus from providing adequate Resident Relations as it slows the entire operation.
All applicants must meet the following minimum qualifications for tenancy:
Income - Gross income must be at least 2.5x rent amount. Employment/Income must be verified with past 2 months pay stubs or other financial statement.
Credit - 600+ credit score with 5 or less late payments or collection notices on record
Rental History - Current and/or prior rental references must be favorable. Eviction Records within the past 3 years will not be considered for occupancy. Applicants who received 3 or more lease violation notices from their previous landlord will not be considered for occupancy.
Here is a complete article describing Applicant Screening Best Practices that are Sagareus standard policy.
Our standard recommended pet policy is up to 2 pets permitted with a 30lb weight limit per pet with a total $50 / mo pet rent.
Property owners may alter this pet policy any way they feel appropriate. In general, the more strict the pet policy, the longer the property will sit vacant.
For a complete discussion on Pet Policies, please read "Are Pet Friendly Rentals More Attractive?" blog article.
Sagareus is currently provides Property Management from Everett to Tacoma to Issaquah, specifically:
If your city is not listed, but it is close to one of these cities, we can very likely service the property.