We are considering purchasing a home Fauntleroy. Is this place easy to rent and how's transportion i.e Bus?

Asked by Leilani, Hawaii Sat Nov 15, 2008

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8
Nathaniel Be…, Agent, Seattle, WA
Wed Jan 7, 2009
Leilani,

I didn't realize you were looking for investment property and wanted to buy a rental? For rental rates go to http://www.zilpy.com/ and plug in an address & it'll tell you what the rents are going for in the area similar to what Zillow does for sales.

Make sure you join the Rental Housing Association of Puget Sound http://www.rha-ps.com before you become a landlord- I am a member & I use them to screen prospective tenants using their credit & criminal check. I use all their forms also since they're written by the same attorney that writes the forms for NWMLS & CBA(Commercial Brokers Assoc.). Seattle's tenant-landlord laws favor the tenant and you must supply a copy of the Seattle Tenant-Landlord Law. Federal Law requires a Lead-Based Paint Disclosure & Pamphlet if place is built prior to 1978 or else the tenant can sue automatically for TREBLE damages & use that as a legal reason to break the lease. Washington State requires a Mold Handout. If you want to lay claim to the security/damage deposit an Inventory & Inspection Checklist must be filled out and signed by the tenant upon moving in.

I'm a 1031-tax exchange specialist & work with a lot of investors and member of CBA & NWMLS so if you need help looking for an investment/rental property let me know?

Puget Sound Business Journal on 1/5/09 called Alki the Bermuda Triangle of Residential real estate because because they have The Biggest Backlog Of Sales in King County due to all the condos that were bought as 2nd homes that aren't selling, but you wouldn't know it because of the lack of FOR SALE signs due to Homeowner Association Rules. http://seattle.bizjournals.com/seattle/stories/2009/01/05/st…
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Leilani, , Hawaii
Wed Jan 7, 2009
HI Courtney,

Thank you for your reply. I hope the area commands a quick rental with good tenants. Fauntleroy seems like a nice place to live, however, I could not help but notice how much rentals are were (not so much in the Fauntleroy area) in the coatline of Alki area.

Is there still a demand for good quality rentals?

Thanks so much, Leilani :)
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Courtney Coo…, Agent, Seattle, WA
Wed Jan 7, 2009
Hi!
I don't ind West Seattle for its wonderful amenities and the commute is not too bad, but I don't know if the numbers would really work out for a rental or not - it would greatly depend on your payment. There is definitely a demand for a good rental in this location, but you have to make sure the numbers pencil out.
Good luck!
Web Reference:  http://www.cooperjacobs.com
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Patrick Beri…, Agent, Seattle, WA
Sun Dec 21, 2008
It depends on the house, and how much you're going to rent it for. There's lots of people looking for quality rentals, so if the numbers work out, this might be a good investment. You can go to the Metro Transit website and enter the address of the property to see nearby buslines. Good luck!
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Nathaniel Be…, Agent, Seattle, WA
Tue Dec 16, 2008
Leilani,

Howzit? I was part-owner of a restaurant in West Seattle at the crossroads of Fauntleroy Way that is still in business. I live in Queen Anne & have never ridden the bus from West Seattle. I've sold homes in West Seattle & Burien. I've sold a home on Fauntleroy Way.

I find it easier & faster to get to Downtown from Burien than West Seattle. Why? The West Seattle Bridge to Spokane Street viaduct which bottle-necks into I-5, is nightmare in the morning/rush-hour, but they're currently working on it. One other factor to consider is the Alaskan Way viaduct/HWY 99 which the state & city is wrangling with for a replacement 1) Elevated Highway 2) Tunnel 3) Surface street option 4) Hybrid. What ever choice there is nobody knows what the commute will be like, especially via bus, when they remove the Alaskan Way Viaduct?

BTW- Kauai Family Restaurant & Bakery in Georgetown is the closest restaurant to West Seattle to go for some local grinds/plate lunch. I like Hawaii BBQ in the U. District & North Shore on Boren Ave near Chinatown/Int'l District. There's also a L&L in Renton.
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Sonny Kwan, , Edmonds, WA
Thu Dec 4, 2008
Leilani,

I'd stay away from W. Seattle and Fauntleroy. Spend an early morning trying to get from your home across the bridge will irritate you to sell it again. The W. Seattle freeway bottlenecks 7am-11am then again 3pm-7pm.
Worst if there is any sports events in town.

The good news , if you plan on staying in Fauntleroy during these times, it's a great place.

More importantly, is this a home as an investment? or for you to live? It's best to come to the mainland and stay a month or two and see exactly what suits you. Afterall, some places may seem like Island fever if it's gridlocked all day long.
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Karen Mcknig…, Agent, Kirkland, WA
Mon Nov 24, 2008
Leilani,

West Seattle has recently been featured as a hot area in several Seattle area real estate articles. With its close access to Seattle, views, and wonderful beaches it will always be desired. Fauntleroy is the south western part of West Seattle, so where you commute to work will be a factor. The bus system is great, as it is throughout most of King County.

Depending on your goals, I can refer you to some web sites that have good information on the rental market.

On my web site, http://www.mcknightrealty.com . I have a button called "About the Area". Look for the link to web towns and you will find some more in depth information about West seattle and Fauntleroy.

Good luck in your search. Please let me know if I can be of further assistance.
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Joe Brannon, , Kent, WA
Thu Nov 20, 2008
Regarding the first part of your question is it easy to rent in Fauntleroy... obviously price and amenities are the biggest factors that determine how easily something will rent. If you are local I highly recommend driving around the area and look for "For Rent" signs. Call the number and ask about the property and the asking price. A couple of other good sources to look at would be http://www.rentalads.com and http://www.craigslist.com. Both these sites will help you determine the current rental market value.

As for public transportation I would highly recommend looking at the King Co. transit website to help you determine if you feel it's accessible. You can find them at http://transit.metrokc.gov/. When you see a few homes that you are interested in buying we can be a lot more specific to access to bus stops.

Finally I would recommend getting some help with the rental. Again there are a couple of options. You can turn it over to a property management company (a lot of them offer a variety of services), or you can opt to manage it yourself. If you plan on managing the property yourself consider joining a landlord association. http://www.rha-ps.com is a local association that can help you with rental forms (personally I feel they are far superior rental forms then what you can get from the local MLS), great source for education, they advocate for local landlords, and monitor what local and state government is doing regarding rentals.
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