Saturday, 21 October 2017

Top 10 Rental Property Subdivisions In Peoria - YTD 2017

RPM West Valley analyzed rental property statistics in the 67 main subdivisions in Peoria, AZ. We identified the top 10 rental property areas in Peoria, AZ for rent closing volume and rent price.

Although we found great balance within this city from a rental property numbers standpoint, there were 10 subdivisions that had double digit rental property closings in 2017. The numbers that follow are the rental property subdivisions and the number of properties that rented within them Year To Date for 2017:

Peoria, AZ - number of closed Rental property transactions for 2017 = 733

Vistancia – 52
Fletcher Heights – 44
West Wing Mountain – 31
Sonoran Mountain Ranch- 24
Dove Valley Ranch- 22
Terramar- 20
Casa Del Rey-  17
Country Meadows- 14
Springer Ranch- 13
Parkridge- 10

The Top 10 Rental property markets in Peoria represent 34% of the closed Rental Property transactions in Peoria, AZ for 2017. The remainder was spread out among the other Peoria subdivisions.


Here is the closed rental property price list for YTD 2017 in the top 10 Peoria, AZ rental property subdivisions.

West Wing Mountain - $2046
Sonoran Mountain Ranch - $1772
Terramar - $1740
Vistancia - $1715
Fletcher Heights - $1546
Dove Valley Ranch - $1519
Parkridge- $1460
Casa Del Rey - $1386
Springer Ranch - $1215
Country Meadows - $1038




Friday, 13 October 2017

Surprise, AZ and Greer Ranch Subdivision Rental Prices and Data - 2013 to 2017

Over the last 5 years (2013-2017), property rental prices in Surprise and Greer Ranch have shown a significant increase. Also, Surprise rental property and Greer Ranch rental property inventories have decreased substantially from 2013-2017.


Greer Ranch is a subdivision is located south of Grand Avenue and 83rd avenue. It is east of Reems Rd. and west of Sarival Ave. It is north of Peoria Ave and west of Cactus Rd. 

The adjacent Surprise subdivisions to Greer Ranch are Rancho Gabriela, Twelve Oaks Estates and Sycamore Farms. 

The numbers that follow compare full year rental property market data from 2013-2017 in Greer Ranch and Surprise, AZ. The number of rental properties analyzed is simulated for 2017 based the rental market data through 9-30-2017. 

All figures are taken from closed Surprise and Greer Ranch rental property data from the MLS from 2013-2017 and only include unfurnished single-family home rental properties











The above charts show good growth for rental home prices in Surprise and Greer Ranch from 2013-2017. The inventory in both comparisons also shows a significant decrease.

The rental home price average in Surprise, AZ has increased about 22% in these five years. In Greer Ranch, the increase in rent in this time frame has been 25%.

Rental property inventory in Surprise, AZ has decreased 40% from 2013 to 2017 and rental inventory is down 50% in the Greer Ranch subdivision.

It is interesting to note in this time frame, the 22% increase in Surprise, AZ rent prices has outperformed the Consumer Price Index (6%) by over 2 1/2 times


Friday, 6 October 2017

Peoria, AZ and Fletcher Heights Subdivision Rental Prices and Data - 2013 to 2017

Over the last 5 years (2013-2017), property rental prices in Peoria and Fletcher Heights have shown a significant increase. Also, Peoria rental property and Fletcher Heights rental property inventories have decreased substantially from 2013-2017.


Fletcher Heights is a subdivision located roughly north and south of Deer Valley Road and east and west of 83rd avenue.

The numbers that follow compare full year rental property market data from 2013-2017 in Fletcher Heights and Peoria, AZ. The number of rental properties analyzed is simulated for 2017 based the rental market data through 9-30-2017. 

All figures are taken from closed Peoria and Fletcher Heights rental data from the MLS from 2013-2017.

The rental property data we display in this Peoria and Fletcher Heights rental property study only include closed, unfurnished single-family home rental properties.



The above charts show good growth for rental home prices in Peoria and Fletcher Heights from 2013-2017. The inventory in both comparisons also shows a significant decrease.

Rental home price average in Peoria, AZ has increased about 16% in these five years. In Fletcher Heights, the increase in rent in this time frame has been 15%.

Rental property inventory in Peoria, AZ has decreased 38% from 2013 to 2017 and rental inventory is down 35% in the Fletcher Heights subdivision.

It is interesting to note in this time frame, the 16% increase in Peoria rent prices has outperformed the Consumer Price Index (6%) by over 2 1/2 times.

Tuesday, 26 September 2017

Phoenix Property Management - Phoenix Property Managers Remind Owners and Tenants to Prepare Your Property for Fall



As the cooler weather approaches, it’s time to perform some property maintenance to ensure your Phoenix investment property is as prepared for the change in weather as you are. Your Phoenix property management team has a few tips to help you through this seasonal maintenance.

Seasonal Maintenance Tips from the Leading Phoenix Property Management Company


With summer winding down quickly, we recommend some basic services to protect the home and prepare it for colder winter air:
1.     Avoid expensive repairs by cleaning or replace AC filters & remove build up on fans.
2.     Step outside for a breath of fresh air … and enjoy the fall landscaping. Fertilization, pruning, and any other lawn care services (such as sprinkler line maintenance) should be completed to keep up the curb appeal of your home.
3.     Start thinking about any major pool maintenance that may need to be done such as an acid wash or a re-plastering as these items need to be done away from the summer heat.
4.     Got a fireplace? Time for a chimney sweep! Get it in clean working order so tenants can be comfortable and your property safe all season long.

Phoenix Property Managers Are Not Alone in Maintenance Responsibilities!

As a "do it yourself" Phoenix Landlord you do have obligations to keep the property well-maintained; your tenants do as well. Here are a few seasonal items they are responsible for:
1.     Take care of any safety hazards. Any items that pose an accident such as bulky carpets or loose hand railings should be fixed.
2.     Check electrical sockets in use to ensure they are not warm to the touch.
3.     Inspect fire extinguishers to confirm they are properly charged.
4.     Check any alarms throughout the home and install fresh batteries.
5.     Review household safety and emergency plans; locate gas and water shut off valves.
6.     Clean/replace filters and vents as needed and vacuum under all appliances.
7.     Change furnace filters on a monthly basis.
8.     Ensure all doors and windows shut tightly.
9.     Clean all drains and traps to ensure proper drainage.
10.  Tidy up outside by storing hoses and similar items.

As a Phoenix property management company, we work with tenants to get your investment property ready for any season. It is a priority to help you keep your home and tenants protected by performing seasonal maintenance duties. If you are not up to performing maintenance on your own, contact the leading Phoenix property managers to assist you!

For all Phoenix Real Estate & Phoenix Property Management Needs Contact;
RPMWV Phx
623-748-7800
info@rpmwvphx.com
www.rpmwvphx.com


Thursday, 21 September 2017

Phoenix Property Manager - Questions for your Rental Verification Form


On this latest podcast we discuss what questions to ask a current or previous landlord when screening potential new tenants.  Of course our free tip is discussed at the end of the show!







For all of your Phoenix Real Estate & Phoenix Property Management Needs Contact:
RPMWV Phx
www.rpmwvphx.com
info@rpmwvphx.com
623-748-7800

Friday, 15 September 2017

Phoenix Property Management - 2017 American Renters Survey






In spring of 2017, Buildium (a property management software) conducted an in-depth survey of 1,166 renters in the United States. Below we cover the top 5 items that their survey indicated.

1. Many tenants still have pets so not allowing pets in your rental really decreases your potential applicant pool.  Of the 1166 renters they surveyed, 32% have dogs, 30% have cats and 10% have some other kind of pet so overall 72% of their renters have a pet.

2. Single family homes are still renters number one choice!  35% of the renters they surveyed rented a single family home versus 12% renting a multi family home with 11-25 units.  This again validates our point that single family homes are a much better investment purchase than town homes or condos.

3. According to the 1166 renters they surveyed, most  will only tolerate a rent increase of 1-5% every 1-3 years, while nearly one-third feel a rent increase is never reasonable.  We encourage our property owners to make the 12 month renewal option always the most appealing to the tenant with the smallest increase.  Also, we do not recommend increases every year as it can definitely cause your tenant to vacate.

4. Top two items a renter uses when deciding where to rent??  Neighborhood and price so unfortunately this means that even if your property is in the best area renters are still very price sensitive.  Also, keep in mind that only high risk tenants will agree to pay over market rent so the closer to market or slightly below market rent you set your price the better qualified tenant you will place.

5. Lastly, 24% of renters are saving to buy property, while 27% have owned property in the past.


To view the entire report please visit: Buildium

For all of your Phoenix Real Estate & Phoenix Property Management needs:
RPMWV Phoenix
www.rpmwvphx.com
info@rpmwvphx.com
855 748 7841


Friday, 8 September 2017

Phoenix Property Management - 4 Top Reasons To Put Rock In The Backyard Of Your Phoenix Rental Home


In Phoenix many of the track homes that have now become a lot of the rental properties did not come with landscaped back yards.  Most of the builders included front yard minimal landscaping but the back yard was left up to the buyer.  As property manager's we get asked a lot what should we do with the dirt back yard and our answer always is to install desert rock!  Desert rock is a great option because there is no maintenance except weed removal and besides the need to add additional rock many years later the only cost is the initial installation.  Here are the top 4 reasons why putting rock in your Phoenix rental home is a great idea:

1. Rock helps to better maintain the exterior of the property.  When the yard is just dirt and there is a storm the dirt blows up landing on the exterior of the home causing it to look dirty and need new paint sooner.

2. Rock back yards are much more attractive to renters than dirt especially if the renters have kids of pets because the rock allows for the back yard to be usable.  Additionally, the rock will help to reduce the dirt/dust that comes into the home.

3. Rock will definitely reduce the weed growth when compared to dirt making the back yard look nicer.

4. When you decide to sell the property the rock will make the property look more attractive to buyers.


Also, we always suggest using the larger rock such as 1" if possible as it tends to look better over time as the rock starts to thin.  Also, the rock in the back doesn't necessarily need to match the front so don't be concerned if you can't find the front yard rock any longer.  One more tip; do not install plants and bushes in the back yard as they need a lot of care when first installed and tenant's are notoriously not good with yard care so save your money!

For all of your Phoenix Property Management & Phoenix Real Estate Needs contact:
RPMWV Phoenix
855 748 7841
rpmwvphx.com
info@rpmwvphx.com