Founded originally as a real estate investment company, WPI exclusively represented its own portfolio of properties. WPI’s business soon grew to managing properties for other clients. Since 1972, WPI has continuously refined and adapted its systems to be the best in class in property management. These property management systems, combined with proprietary documents, and a strong network of trusted local vendors, all serve to protect and maximize your real estate investment. We have built our business by managing your properties as if they were our own…literally!
WPI’s CEO and President, TC Wu, is a Washington State licensed real estate instructor who specializes in working with real estate investors. TC purchased his first investment property at the age of 23 and is the owner of a multi-million dollar real estate investment portfolio in the Seattle and Bellevue area.
Theron Hawkins, the Vice President of the Rental Department, joined WPI in 2011 and brings extensive construction experience after owning and operating his own construction company.
The Designated Broker, Chiao Viscardi, is a Washington State licensed attorney as well as an experienced real estate broker.
Shiao-yen Wu, the founder of WPI Real Estate is a full-time real estate investor with 50+ experience and the owner of a multi-million dollar real estate investment portfolio in the Seattle area.
It’s imperative for property owners to keep their rental properties leased with minimal vacancy.
Our marketing process begins with developing a customized rent comparable analysis to produce higher rents and fewer vacancies. Advertising and showings begin as soon as the home is rent ready, or as early as notice is given from the current tenant. In order to fill the vacancy as quickly as possible, many of our showings take place on demand and at the convenience of the prospective resident. We are available to show your property to a prospective tenant 365 days a year.
We use mass syndication and online advertising on a wide array of syndicated websites. Traditional marketing efforts are also used by placing yard/window signage on all properties, where allowed. All combined, these marketing strategies give your property maximum exposure to keep it performing at its peak potential.
We believe that screening is one of the most critical steps in successfully managing a rental property. We developed a strict resident screening process in order to get you the most qualified tenants. Credit, background, evictions, income/employment, and past rental references are all taken into account. Unlike many companies in the local market, we screen all occupants 18 years or older to ensure they meet the rental qualifications.
We know from experience that credit scores alone aren’t enough, so our proven screening process includes:
We begin our comprehensive screening process by verifying the applicant having verifiable good rental history up to 12 months or more.
We also verify that the applicants make over three times the gross rent to assure they can comfortably afford the rent.
We check that the applicant has had no recent evictions within the last 3 years (Eviction filings have to show paid). This is to make sure that we are not leasing out your home to an unreliable tenant with a bad rental history.
Finally, we make sure that the applicant has no bankruptcies, liens or judgments in the last 5 years. Checking an applicant’s financial history will help determine whether they are financially responsible to be a qualified candidate.
The WPI screening process is developed to find the most qualified tenant:
WPI has developed its own library of proprietary and attorney-reviewed lease agreements and other legal forms/notices, evolved over 50 years of continuous refinement from its management experience and legislative changes. We do not use forms from Rental Housing Association or other on-line templates.
Not having to worry about maintenance and repair of your properties is one of the biggest benefits of hiring professional management. With our services, You won’t have to worry about being on call to respond to maintenance and repair requests through all hours of the day. As your property manager, we take care of all these tasks for you.
Our property management team provides 24/7 coverage for routine property maintenance and for emergency repairs. With our extensive network of local vendors, work orders are completed by experienced maintenance contractors providing quality repairs on short notice at competitive rates.
Residents can make repair requests online through the resident portal, by phone, or in-person at our office.
As an industry leader, we have long-standing relationships with an extensive network of experienced service providers for our clients’ needs, including deferred maintenance or emergency services. Due to our large volume of work, our 3rd party service providers work diligently at solving our clients’ maintenance issues to ensure they will remain on our roster. To avoid conflict of interest, all service providers that we use are independent 3rd party vendors and WPI does not collect an additional referral fee from them for servicing your job.
No hidden fees. No conflict of interest with an in-house maintenance department.
To ensure transparency, invoices from these vendors will be kept in your file for you to see. You will have unprecedented transparency and real-time data about your portfolio, custom-tailored with specialized solutions to maximize your return and meet your personal goals.
Your designated property manager comes with the best support in the industry. We are a cohesive team of professional full-time property managers with the combined experience of over 100 years. We meet regularly to ensure we are well on top of market trends, tenant relations, technological advancement, marketing and pricing strategies, and legislative changes. We not only share our knowledge and resources, we provide support for one another to ensure seamless coverage for any situation.
We invest in the most advanced technology to provide our clients with professional management services efficiently and effectively. The industry-leading property management program we use is a cloud-based program that lets our team access key information about your property in the field or in the office! Our technology also provides real time data to our clients as we upload invoices, lease agreements and more to your owner portal.
What to know more about an expense or see if your tenant has paid their rent? You can find out 24 hours a day, 7 days a week.
Some of the benefits that we are able to pass on to you:
We respond in a prompt and timely fashion to provide better service to both owners and tenants.
We can securely access information about all properties at any time and from anywhere. Sensitive data is securely housed in a state-of-art data center, and backed up regularly and automatically.
Paperless monthly statements giving complete transparency with financials. The statements are easy to read and provide you with a quick snapshot of the property details for the prior month.
We address property maintenance issues faster. We create electronic work orders and communicate with vendors so we can quickly solve issues.
You will be paid faster and more securely. We use electronic payments (ACH) to deposit funds directly into your bank account.
We effectively market your properties to fill vacancies sooner. We can quickly and professionally advertise your properties on our website as well as over 100 other syndicated websites to provide your property with maximum exposure.
WPI uses leading-edge and industry-specific accounting software. We send you a monthly statement via email. You will receive the email in an easy-to-read format. There are also copies of the invoices and month-end statements that are posted and available in real-time on your owner portal. Your funds are sent electronically to your bank account via ACH. Doing so will reduce the chances of lost or delayed checks. Finally, we provide a year-end summary statement along with a 1099 to simplify your tax filing.
Our owner on-line portals and EFT direct deposit technology make client statements and payments quick, paperless, and seamless. To ensure transparency to our clients, paid invoices are scanned and attached with each statement in the owner’s portal.
Log into your owner portal to view statements and more:
Rent collection and processing
Payment of maintenance vendor bills
Payment of monthly items at the request of owners
Owner statement and direct deposit by ACH processing to your bank account
On an annual basis, you will also receive the following:
Timing is crucial when it comes to move-out inspections and security deposit dispositions. As a true professional property management company, we make sure the timing is optimized and the required guidelines are met.
You won’t have to schedule and fill out the move-out inspection report. Performing this inspection helps us determine the condition of the property when the resident moves out. We typically schedule the walk-through on the day the resident moves out. If it’s done too early, the resident could cause damage in the last few days or during the process of moving out. Sadly, this is quite common. (For example, floors or walls can easily be damaged in the process of moving large or heavy furniture.)
If we do this inspection too late, the tenants may claim the damage was not caused by them.
The process of evicting a tenant seems harsh, but it is a part of the property management business. Sometimes it can be as simple as asking the tenant to leave. Other times, you will have to go through the formal eviction process. Regardless of the situation, it can get awkward or quickly escalate into something worse. As your property manager, you won’t have to serve legal notices or handle evictions. Things can get out of hand quickly, therefore, legal guidance is one of the main benefits of hiring a property manager. As your property manager, we will represent you for all legal matters associated with your rental property.
WPI will attend all court proceedings on your behalf and use a professional landlord/tenant lawyer when necessary. During this time, we enforce all provisions of the lease.
We have a team of bi-lingual (Chinese Mandarin, Cantonese, and Taiwanese) property managers, support staff, and accounting personnel that provide the needed experience and resources to maximize the return your real estate investment.