Freakin’ Awesome Seattle Home of Ryan Lewis Is Back on the Market

Ryan Lewis selling Puget Sound mansion

Ethan Miller/Getty Images

In the mood to pop some tags? Record producer and DJRyan Lewis (who’s had major hits recording with rapper Macklemore) has put his gorgeous mansionin Seattle up for sale. While the price has been reduced by $2 million, the property isn’t exactlyasking thrift shop prices. It’s now listed for$7,450,000.

Lewis paid $3.3 million in 2014 for the four-bedroom, four-bath terraced property withstunning views of the Puget Sound.

With a lot more than $20 in his pocket, he set torenovate the home with high-end touches, including Venetian plaster, gold-leaf ceilings, flamed granite, polished marble, and a state-of-the-art movie theater.There are very few plain white walls in the7,610-square-foot home.

Views of the Puget Sound for miles
Views of Puget Sound

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Great room
Great room with gold-leaf ceiling

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LIbrary
Library

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Lewis even added a whiskey bar rumored to have been built entirely from reclaimed wood from the actual Temple of Doom from ‘Raiders of the Lost Ark,’ according to K5 News in Seattle.

Could this bar have been built entirely from reclaimed wood from the actual Temple of Doom from 'Raiders of the Lost Ark?
Bar built from reclaimed wood

Themaster suite features aprivate terrace, spaciouscloset, full office, and still more ocean views.

In the wrong hands, these fancy finishes could look likean unruly mess, but Lewis’ taste isright on the money, although he won’t walk away with quite as much as he’d hoped.

Elaborate woodwork
Elaborate woodwork

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He listed thehouse last summer for $9.45 million, butthe pricedidn’t strike a chord with buyers and hetook itoff the market until recently. Despite the new price reduction, the home still comes tonearly $1,000 per square foot in an area where the median price is $404.

Elegant family room
Family room

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Master suite
Master suite

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Lewis, a native of Spokane, WA, hasn’t been home much to enjoy the place. His skyrocketing career has been taking him all over the world ever since 2012, when he and Macklemore released their megahit, Thrift Shop. This summer, the two are touring Europe, and perhaps when Lewisreturnshe’ll have an offer that’s freakin’ awesome.

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10 key performance metrics every property manager should track

10 Property Management KPIs That You Should Track | Buildium

The property management industry is highly fragmented. Most companies have only a few employees, while others operate independently. As a result, it’s important to stay on top of your business. You must always know how you’re performing relative to your peers; and the best way to do that is by tracking a number ofproperty management KPIs, or key performance indicators.

Below are the key property management KPIs that you should be collecting data about and evaluating on a consistent basis.

Property Management KPI #1:

Properties Won vs. Properties Lost

An effective property manager will always be monitoring their business development efforts. It’s a two-sided coin: On one side, a PM needs to track how many properties he successfully acquires within a year in order to ensure a consistent stream of revenue. If, after pitching to a potential client, your business development efforts are unsuccessful, don’t be afraid to follow up and ask for feedback to improve down the line.

On the other side of the coin is the number of properties lost. Client turnover is inevitable. The average property manager sees 10-20% turnover in any given year. Again, if you lose a client, follow up to understand why. Obviously, you want your wins to outweigh your losses-but remember that sheer volume is not the be-all and end-all. If you take on too many new clients and cannot deliver on your promises, your performance will decline, and your losses will increase over time.

On a related note, you should monitor your customer acquisition costs. You can do this by calculating your total sales and marketing budget for the year, then dividing that number by the total number of new units acquired during that time. Calculate the customer acquisition costs per unit to see how you stack up year over year. This will provide you insight into how effective your business development techniques are, and whether there’s room for improvement in order to drive those costs down without missing out on new opportunities.

Property Management KPI #2:

Occupancy Rates

Every property manager should know the occupancy rate of their portfolio at any given time. In a strong rental market, particularly in urban areas, occupancy rates should be around 95-96% at any given time. This might be lower in suburban or rural areas where rentals tend to be in lower demand.

That said, monitoring your occupancy rates is only as useful as your ability to compare your numbers with the market average. For instance, you may think that an 80% occupancy rate is good until you realize that nearby units are 90% occupied or more. If you’re beating the market average, this is a great selling point when pitching to new prospects. Every property owner wants to know that you can keep their units occupied. Now, if you’re significantly higher than the market average, this begs another question: Are you charging enough for rent? Be sure to evaluate occupancy rates in the context of other property management KPIs.

Property Management KPI #3:

Average Arrears

Having a lot of arrears (outstanding debt that is owed to you) on your books can really impact your company’s cash flow. This is particularly true if you’re paid a percentage of revenue collected as opposed to a flat monthly fee. You should always be trying to minimize arrears. Moreover, companies can learn a lot about the performance of individual property managers by monitoring arrears: Who is most successful in collecting rent? Who seems to be having trouble? Look into any situation where payments are consistently 7+ days late.

Property Management KPI #4:

Tenant Turnover

Unless you’re managing rent-controlled properties, it is common for tenants to turn over every year or two. The average is 12 to 24 months in urban markets, and 24 to 48 months in suburban or rural areas. Smaller units tend to turn over more frequently, as residents tend to grow out of these spaces; subsequently, larger units tend to turn over less frequently.

If your turnover rates are higher than average, this could be an indication that the property is being mismanaged. Are repairs and maintenance overdue? Are you missing standard rental amenities? Are you charging too much for rent? Are you unresponsive to residents’ concerns? As residents leave, don’t be afraid to inquire as to why they’ve decided to move elsewhere.


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Property Management KPI #5:

Rent-Ready Costs

When a unit turns over, do you know how much it will cost to get the unit in rent-ready condition? This is an important property management KPI that most companiesoverlook. Most will use supplies and materials that they have on hand (open cans of paint, previously used locks, etc.), and they don’t bother calculating the costs associated with a good scrub-down if the work is done in-house. Keep track of your rent-ready costs, including labor, to determine whether there are any opportunities to increase efficiency and lower expenses without negatively affecting other property management KPIs.

Property Management KPI #6:

Average Days-to-Lease

Each day that passes without a resident occupying a unit is money that you’re forgoing as a property manager. The same is true for property owners; so keeping an eye on how long it takes to lease a unit is critical.

Now, to be sure, anyone can lease a unit in just a few days-all you need to do is lower the costs enough. Of course, that’s not an optimal strategy. The average days-to-lease should be compared to the market average (usually less than 2 weeks in a hot market); and it should then be evaluated against other KPIs, like market rents, to see how well your property management business is performing. If it seems to be taking a while for a unit to lease, take a hard look at where and how a unit is being advertised. Consider alternative listing channels or boost your marketing budget to lease units faster.

Property Management KPI #7:

Net Income

Property managers often track the net revenue generated from leases. However, it’s important to evaluate other streams of income as well: revenue from coin-operated washers and dryers, leasing of parking spaces, rental of on-site community spaces, fees charged for storage lockers, etc. Rents are just one revenue stream-albeit the most important one! -but property managers should consistently evaluate other ways to increase their cash flow as well.


On the #BuildiumBlog: 10 stats every property manager should track + why it’s key to success.

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Property Management KPI #8:

Repair and Maintenance Costs

If a toilet is leaking, do you rely solely on the opinion of your long-time plumber? This is often the case for property managers, particularly those who work independently, or for small shops that need to subcontract some of their repairs and maintenance. While it’s important to find property maintenance service providers that you trust, how often do you consider whether a repair or replacement is actually needed? How often do you shop around for vendors to compare pricing? Do you conduct market research to understand how much a specific project should cost, such as the average cost to renovate a bathroom?

Repairs and maintenance are usually the biggest line item for property management companies. Most property managers will be able to find cost savings to improve the company’s revenue if they look critically enough at their R&M expenses.

Property Management KPI #9:

Property Management Fee

Property management fees generally cost anywhere from 8 to 12% of monthly revenue, depending on the level of service provided. How do you stack up against your competitors? How often are you looking into what others are charging, and for which services?

Based upon the market average, you may find that you’re discounting your services too heavily. Some property managers discount their fees to get clients in the beginning, and then they never raise their prices. Even if you start out by charging rates that are toward the lower end of the market, don’t be afraid to increase prices if you adopt new technologies or tools to improve an owner’s overall ROI. Conversely, you may be putting yourself at risk of losing customers if you’re charging too much, or if the level of service that you provide has declined.

Property Management KPI #10:

Revenue Growth

Revenue growth is a good way to determine how the business is performing year over year. It paints a compelling picture of whether the company is doing well, or whether there are areas for improvement. The other property management KPIs outlined here can be used to look at that picture in greater detail. For instance, if revenue has declined, you can use these KPIs to discover why that might be the case. Maybe rents haven’t kept pace with inflation; or maybe you faced a one-time cost, like migrating to a new property management software to monitor your KPIs! In any event, revenue growth should be at the top of a PM’s list of metrics to measure.


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One Final Thought

A few years ago, someone gave us this valuable advice: You can’t monitor what you can’t measure. Data collection may seem burdensome, but it’s highly critical to the success of your business. Collect data; benchmark your performance against your company’s previous years and your competitors; and then make adjustments as needed to improve the overall value of your business.

P.S. Be sure to subscribe to the Buildium blog to stay up-to-date on industry news and the issues you care about.Click here to sign up now!

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Top Moving Companies Say Updater is Easy to Use

As an app for moving, Updater prides itself on helping people across the nation streamline their moves and easily handle everything they need to all in one place. As a team, we pride ourselves on our ability improve the customer experience for our incredible partners in the moving and relocation industry like Mesa Moving & Storage, Cord Moving & Storage, Palmer Moving & Storage, Hilldrup, Planes, Fry-Wagner, and many others.

One of the most unique aspects of Updater is that our software integrates with the software solutions moving companies use every day. Through that integration, we make the process easy from beginning to end from implementation to helping you promote Updater to your customers.

But don’t take our word for it! See what some of our amazing clients had to say about how easy it is to implement and use Updater. Big thanks to Olympia Moving & Storage, Nilson Van & Storage, Bargain Movers, MiniMoves, and University Moving & Storage for stepping into the limelight for this video.

See firsthand what Updater can do to transform your customer experience and differentiate your services.

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How Much Does It Cost To Hire Movers?

The average cost to hire a moving company

How much does it cost to hire movers? Find out below.

You are about to move to another home and you don’t know what to expect in terms of pricing? This can be really frustrating because when you are unsure about the cost to hire professional movers, then you won’t be able to set up your moving budget accordingly. Even worse, you don’t even know if the money you have saved up will be sufficient to cover the inevitable moving expenses.

There are just too many unanswered questions in your head that won’t let you focus on the myriad of moving tasks ahead of you. How much does it cost to hire movers? What is cheap and what is expensive? What is normal for professional movers?

You do need a good comparison base in order to know what your viable options are when seeking professional moving assistance. Finding and hiring reputable professional movers is not an easy task most of the moving companies provide free moving quotes, but what does the final amount tell us? Understand how the moving price is formed and you’ll be able to save big on your move as well!

How much do movers charge? In most cases, your house move will fall into one of the two main pricing categories Local Movers or Interstate Movers. Read on to learn the estimated cost to hire movers so that you are truly prepared for the financial side of your upcoming residential move.

Local Movers Cost

Local movers charge by the hour this is the very first thing you need to remember if you’re moving locally. But what does that mean for you and your budget? It means that the price estimate you should receive by local moving companies should be based on an hourly cost and estimated hours to complete the move.

How much does it cost to hire movers for a local move?

  • The average cost to hire movers for a local move is $40-$50 / hour per mover but the precise hourly charge will depend on your exact location in the country, the season and day of the month you’re moving home, and the local moving company you’ve decided to use.
  • For hiring 2 men and a truck, you should expect to be charged from $85-$90 / hour to $95-$100 / hour. As mentioned above, the exact date of your move will have a considerable influence over the professional local movers rates. Busy dates are the more expensive ones move-out dates that fall at the beginning and end of the month, especially during the summer.
  • Sometimes local movers charge additional fees and you should ask in advance about them to make sure the estimate you get is as close to the final movers cost as possible. An example for such an extra charge is the travel fee the time the movers require to get to your location and back to their base of operation. That fee is often charged as 1 additional hour of labor.
  • How much does it cost to hire movers locally? A mini move (for example, moving out of a studio) that takes about 3 hours will cost you approximately 3 hours + 1 hour travel time = 4 hours x $85 comes to a total of $340 in the best case scenario.
  • When moving out of a 2-bedroom home, you should be ready to shell out more. Let’s assume that 2 movers work for hours to get the job done, then that’s roughly 6 hours + 1 hour travel time = 7 hours x $85 comes to a total of $595 in the best case scenario. Oftentimes, an extra mover will be required for working on 2+ bedroom homes, so the price can go even higher.
  • Most local movers will ask for a deposit when scheduling the move so that they can reserve the date for you. Contact your local moving company to learn more about their deposit policy.

Keep in mind that it’s important in advance to know how much local movers charge. Click here to have a free moving cost estimate by professional local movers.

What are the price factors when moving across the country?

If you’re moving to another state, be it a neighboring one, then you’re about to complete an interstate household move. And, because of that, the first thing you should know is that the price of your cross country move will be calculated rather differently than moving locally it’s all about the price factors and how they will influence that final moving bill.

And more importantly why should you care? Well, the good news is that once you’re familiar with how your interstate moving cost is formed through the interconnection of the various long distance price factors, then you will be able to find and use good cost-saving techniques to your advantage.

  • What does it cost to hire movers?

    Moving across the country is no joke, and neither is the price.

    Home size + shipment weight. Generally speaking, the larger your home is, the more items it will hold, and therefore the heavier the shipment will become. In contrast to the local movers price /calculated on an hour basis/, the cost of all interstate moves /state to state moves/ are determined by the weight of the items to be shipped.

  • Special items. The general cost to hire movers will suddenly go up if you own an upright piano, for example, and you decide to take it with you. The same is true for other types of specialty items as well a pool table, a hot tub, a big metal safe, antique furniture, and so on. Make sure you show to your moving company everything that you plan to move to the new house or apartment.
  • Extra services. In order to have your price calculated with any good degree of accuracy, you will need to inform beforehand your cross country mover whether you will requireany additional moving services packing, unpacking, temporary storage, disassembly and reassembly of furniture, custom crating for extremely valuable items, and so on. Only then will your long distance moving company be able to give you an accurate price estimate. And only then will you have the peace of mind that you won’t run into any bad surprises when it’s time to pay the company at the end of the move itself.
  • Move distance. Of course, the actual distance between the two homes will affect the cross country moving cost. However, that factor is not something you should really worry about because you don’t have any direct control over it.

Interstate Movers Cost

As already mentioned above, the cost to hire movers in town and the cost to hire movers out of state will be rather different. And because of the numerous price factors that influence a house move across the country, it’s virtually impossible to calculate on your own the cost to hire movers for an interstate move.

Request cost estimates from various cross country movers and have the company representatives visit your home so that they can provideyou with accurate moving quotes that will reflect the amount you will pay after your household items are delivered to the new home.


Use the moving cost estimator at the top of the page to get accurate price quotes from top-rated cross country movers.


How much does it cost to hire movers across country?

Use the following average costs to hire movers for cross country only for referential purposes. Do yourself a favor and ask reputable cross country moving companies for in-house surveys, followed by the issuance of precise quotes.

  • If you are moving out of a 1-bedroom apartment, your household items will most likely weigh around 3500 pounds. Expect to pay approximately $2500 for a move distance of 1000 miles with no extra services included.
  • If you are moving out of a 2-bedroom home (plus a garage and a basement), your stuff will usually weigh about 5000-6000 pounds. If you move it to about 1000 miles away, the cross country move will cost you about $3500-$4000 for the complete move.

Should you happen to receive a moving quote for a lot less than those amounts, you may be dealing with non-professionals have deliberately lowered the costs just to book your move. And if that is the case, then you could be asked for more money once they have picked your stuff, right before the delivery.

Click here for a complete Interstate move estimate to know how much it costs to hire movers cross country.

How much does it cost to hire movers? The extra charges explained.

As you can see from the example moving company costs above, this question can have very different answers depending on your move locations, type of move (local or interstate), and the professional moving company itself.

Here are some additional and often unexpected fees and charges that come into play when calculating the average cost to hire movers:

  • How much do moving companies charge?

    Expect to be charged extra if the professional movers are unable to use an elevator on moving day.

    Charges for handling bulky items this category includes pianos, organs, canoes and other items with either extraordinary proportions that take a lot of space or very heavy items (that weigh more than most items for the same volume. Some companies have a flat fee for moving pianos and organs. It is very important that the company knows about these items in advance as the movers may be unable to move them if they come unprepared on moving day.

  • Long carry fee usually applies due to the impossibility to park near the door to your building or because the walking distance from your apartment to the moving truck is very long. Having too much distance will prolong the move significantly and movers may change more. If possible, try to reserve a parking spot or to arrange a parking permit and reserve the best parking spot prior your move.
  • Cancellation fees might be charged if you cancel your move after previously booking it. Sometimes that could apply also when you want to change the moving date and the mover cannot accommodate you on that new date. This fee is usually equal or less than the deposit amount you have with your mover to book the date.
  • Storage fees usually apply when you request delayed delivery of your items. In those cases moving companies will have to store your belongings. Depending on the moving company, this fee could be a significant charge.

There are also some uncommon charges that you should be aware of. Best practice would be to ask your moving company about these and try to negotiate better terms in advance.

  • Express delivery charge or Exact delivery date charge this usually applies when you want a fast delivery with a state to state move or when you request an exact delivery date for your cross country move.
  • Disposal fees (environmental charges) usually apply when you request unpacking of your belongings and the moving company will have to dispose of the used moving boxes and additional packing materials left from the relocation.
  • Extra stop charge usually occurs with local moves, when you pick up or drop off furniture from multiple locations. This will cause the movers to drive additional distance and spend more time.

This is why you are strongly advised to get estimates from multiple moving companies as every company has its own set of parameters when estimating the move cost. Also, negotiating a discount in advance is another option worth exploring.

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