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In today’s dynamic and ever-evolving real estate landscape, it’s imperative to understand the intricacies of the property management business. At Spinnaker Property Management, we take pride in our commitment to providing quality housing while fostering a sense of community among our residents and landlords. An integral part of this commitment is the diverse array of property owners that make up our portfolio. Notably, our unique approach sets us apart from what you might expect from “Big Corporate Landlords.” NONE of our owners fall into this category.
In response to Citizen’s Measure No. 1, we are delighted to share some insightful statistics about our portfolio. Our mission has always been to provide high-quality housing options to the diverse residents in the Tacoma area. This is one of the reasons we are asking you to vote NO on Measure No. 1.
Multifamily Residences: A Majority of Spinnaker’s Portfolio
Out of a total of 1006 properties under our management, a substantial 714 are classified as multifamily, consisting of four units or more. These properties cater to a wide range of residents and provide essential housing options in our community.
Low-Income Housing Provider: 172 Homes for Those in Need
Spinnaker Property Management is proud to represent 1 low-income housing provider, offering a total of 172 homes that serve a crucial role in addressing housing needs for low-income individuals and families.
Investor-Owned Properties: Diverse Ownership Structure
If we remove the low-income housing provider from the equation, our portfolio comprises 542 homes owned by 52 investors. These properties contribute significantly to the local housing market, supporting the demand for various types of residences. Again, none of these owners would be considered “Big Corporate Landlords”.
Investor Diversity: Broadening Opportunities
Among our investors, two of them rely solely on the income generated from their properties, accounting for 206 homes. These individuals play a vital role in the real estate market.
The remaining 52 investors in our portfolio consist of professionals who are looking to supplement their income. They collectively own 542 homes, reflecting a diverse and dynamic group of individuals contributing to our local economy.
Single Family Homes, Duplexes, and Triplexes: A Mix of Resident Types
Finally, in our portfolio of 292 single-family homes, duplexes, and triplexes, we have 21 retirees who have invested in these properties. The remainder of these residences are owned by professionals who see real estate as a means to bolster their income.
These statistics highlight the breadth and diversity of the properties we manage, and the range of stakeholders involved in our local housing market. At Spinnaker Property Management, we are committed to providing quality housing and ensuring a balanced and thriving community. The group behind Citizen’s Measure No. 1 claims the rental properties in our area are owned by “Big Corporate Landlords”. However, nothing could be farther from the truth…the numbers don’t lie.
If you have any questions, give the professionals at Spinnaker Property Management a call.