Keith Walker recently relocated his property management business in Cheney.
The boom in apartment construction in Cheney is more than noticeable with the sound of hammers pounding and nail-guns popping in a number of locations.
That signals a potential shift in the habits of tenants both here and across the West Plains and Keith Walker sensed it was a great time to improve the visibility of Walker's Property Management.
The company recently moved from offices in the Coldwell Banker building in Cheney to its own storefront at 1315 First St., space formerly occupied by Verizon Wireless. The company opened at its new location June 1.
"All we do is manage properties," Walker said. "We are a full-fledged real estate company, licensed, bonded, insured - all that stuff with the state." Walker added, they do not list or sell property.
Walker was also careful to emphasize, too, "All we do is manage rental properties, residential rental properties," nothing commercial.
The company does business in a circle from Airway Heights to the Eagle Ridge housing development that overlooks U.S. Highway 195, Walker said. The company was established in April 2011 and currently has 240 properties under contract.
"In this market every year is something new," Walker said.
Business is brisk and only seeming to get better for the rental business as dozens of new units come online in the next few months.
A new property on Second Street will have 32 units and 72 more are under construction at Salnave and First Street. "(Lanzce) Douglass has permits to build out at Eagle Point," Walker said.
The fiery-hot building boom is fueled in large part by millennials - those born from the early 1980s to around 2000 - and like the idea of renting versus being attached to property for decades like their parents.
"Most millennials don't want to go mow the lawn or weed the flower bed," Walker said. "They don't want any of that tied-down responsibility."
There's another component far away from the responsibility of home ownership and that's the massive student debt to which so many members of that generation are attached. While their parents had a mortgage, sons and daughters have similar investments - and payments - for college degrees and choose the rental path.
The monthly charge for services is based on a percentage of the rent. "We negotiate that cost determined on how many units you have," Walker said.
The company collects rent, but handles the legal remedies if there is a problem. When a tenant moves out they inspect and report on what needs to be done for the next person who rents.
"We're advertising, we're finding the new tenants," Walker said. "We physically go out with them to show the place." Walker has been a landlord himself for 16 years so he has first-hand knowledge in how things go in the rental business.
Walker said they also handle tenant screening, conduct credit checks and find co-signers if a person's credit is not up to par. Vacancies are listed on the company's Facebook page found by searching under Walker's Property Management.
Walker's Property Management is located at 1315 First St. Business hours are Monday through Friday from 9 a.m. – 5 p.m. and Saturday from 10 a.m. – 3 p.m. To contact Walker's Property Management call (509) 235-2322 or visit walkersproperty.quickleasepro.com.
Paul Delaney can be reached at pdelaney@cheneyfreepress.com.
Reader Comments(0)