Year in Review 2022
“2022 was a Rough year…but we held our own!” Declared Marie Pettie, Regional Property Manager for Safe Harbor Property Rentals.
Marie cited the rise in interest rates and the correction in home values that made the year so challenging. “People were afraid to purchase a home if they didn’t have to. With rates going up, people saw their monthly payments potentially rise beyond what they could afford. Historically, rates are still pretty low, but people got used to the ultra-low rates of the prior years.”
Nevertheless, Safe Harbor still moved forward with new initiatives to bring better value to its residents and property owners. The main new program was a new accounting program. This will enable everyone attached to Safe Harbor to access more information about their accounts.
Safe Harbor Administration hired (1) new employee this past year – Nick Daud – Leasing Agent/Broker.
Also, Safe Harbor took on a brand-new development named “Signature on 35th,” a 12-unit by Costco in Tacoma. This new complex offers urban living in studio apartments with brand-new finishes. “So many people are looking for a walkable life after driving all day. This new complex has already had great demand, and we are hearing our residents are very happy!”
Looking forward, Marie mentioned some new developments that are being built in Tacoma that are being built from the ground up. These will be 1-bedroom apartments that should be popular for single people or seniors.
Additionally, Safe Harbor will be taking on management for Air BnB rentals. Marie and the team see this as a great opportunity to take their current competencies and add them to a growing market segment.
Ultimately, Marie is looking forward to 2023 as being a year when the home sales division of Safe Harbor picks back up.
With Marie and her team in place, your properties are in good hands! If you wish to learn more about how Safe Harbor can manage your properties and take care of your residents, please reach out to us, and we will get back to you soon.