R Squared Properties' FAQ

What is your fee structure? How does this compare to other local property management firms?
We offer a competitive advantage not only in service but also in our fee structure. Here is our simple, straightforward pricing:
  • Leasing fee = One month's rent
  • Monthly management fee = 8% of the monthly rent
  • NO lease renewal fee
  • NO vendor up-charges
  • NO other fees

Contact us today to learn more. We are 100% transparent.

What areas do you service?
R Squared Properties is a Bellevue, WA based full service property management & leasing company servicing the Lake Washington region. We specialize in residential rental properties in the King and Snohomish Counties.

How will you determine rental pricing for my property?
Determining the ideal rental price for your home is the first critical step. A home priced too high will fail to attract renters, while a home priced too low will not generate the maximum profit. We start by performing a comparative market analysis (CMA) for your property. A standard CMA looks at active, recently rented, canceled and expired rental listings near your property. From this pool, we extract the listings with comparable features to your property such as square footage, age of construction, amenities, upgrades, condition and location. This provides us a price range from which we recommend a competitive listing price.

How will you advertise my property?
Your property will be listed on the Northwest Multiple Listing Service (NWMLS). Your listing will have exposure to 21,000+ subscribers throughout Washington State. Your property will also be listed (at a minimum) on the Zillow Rental Network, the RentPath community of brands, ApartmentList and our company website. Physical signage may be placed on and/or near the property.

How quickly can we proceed with marketing my property for rent? What are the steps involved?
We can start the process immediately. We begin by obtaining some information about you and your property and help you decide if we are a good fit for your needs. Should you decide to use R Squared Properties, we will then perform a comparative market analysis as described above. Once we have a rental price that is acceptable to you, we list your property as detailed in above. Contact us today to get started.

How will you ensure a quality tenant for my property?
We strive to secure you a tenant who will reliably meet the terms of the lease agreement and leave your property in similar condition to the initial move-in. We have partnered with a global leader in credit information and information management services to carefully examine the following data regarding potential tenants:

  • Comprehensive credit history using data from financial institutions, collection agencies, bankruptcy courts, etc.
  • Criminal background accessing national and statewide databases and registries
  • Computed risk level for applicants derived from predictive modeling

Additionally, an applicant must earn at least 3 times the monthly rent in gross income to qualify. Applicants must provide proof of income.

How do you handle applicants with pets?
We don’t permit animals/pets into managed properties unless you explicitly allow us to do so. Keep in mind, however, 50 to 70% of renters have pets. If we do accept an applicant with pets, we minimize your risk by limiting the number, breed, age and size per your direction. We also add a special pet addendum to the lease for your protection and collect an additional pet deposit.

How do you handle security deposits? How much of a security deposit do you collect from the tenant?
By law, all security deposits must be held in our deposit trust account. As a general rule, we collect one month’s rent plus an additional pet deposit, if applicable.

What happens if the tenant does not pay rent on time?
We issue a late notice to the tenant if rent has not been received by the 5th of the month. If payment has not been received by the 7th of the month, we begin the eviction process. Whether or not we proceed with a formal eviction depends on the specific circumstances. It is always financially preferable for all involved if a solution can be worked out. If the tenant has experienced a one-time event that is causing financial hardship, we recommend working with the tenant to settle the debt and continue the lease. If, however, the tenant has demonstrated a pattern of late payments and/or evasiveness, we know from experience that eviction is the best course of action.

Each case is unique and we will work with you to make a decision that is in your best interest. That said, we always proceed with the legal notices required for eviction regardless of any other factors. We will simply postpone the actual filing of the eviction if the tenant is showing favorable effort toward resolution. In Washington State, eviction for non-payment takes around three weeks from start to finish, but this can vary depending on contributing factors.

Is R Squared Properties formally licensed to do property management?
Yes. Under Washington state law, property management is expressly considered a real estate brokerage activity that requires a broker's license and must be supervised by a licensed managing broker. R Squared Properties is compliant with this law.

Do you offer brokerage services?
Yes. As licensed brokers we can help you buy and sell real estate.