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:

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
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

Tuesday, 29 August 2017

Labor Day Celebration Suggestions Phoenix, AZ

So in most places Labor Day is the sign of summer coming to an end and the retirement of bathing suits until the next year. Phoenix however is the exception considering that we'll be suffering through summertime temps long after the rest of the U.S.!  However, the annual observance of Labor Day does serve as a milestone of sorts, as it's usually the end point for a number of local pool party series and other summer events.  It's also a three-day weekend, which, anyone can attest is the best kind of weekend around!  We have compiled a list of the 5 best activities to consider to celebrate the long weekend.

1. Enjoy a staycation as several Phoenix hotels are offering deals through out the weekend. For example the Scottsdale Princess is offering Sip, Savor & Celebrate starting at $229/night and includes a $50 resort credit.

2. Attend a pool party!  Check out the W Scottsdale Hotel which is offering pool parties through out the weekend! In addition to a mix of high-end cocktails and high-style amenities, DJs will fill the air with beats at various points throughout the weekend.

3. Tryout a full moon kayak! Attendees will paddle illuminated kayaks from the starting point at Go Paddle AZ, 8708 West Harbor Boulevard in Peoria, to Honeymoon Cove.  

4. Take in a Phoenix Mercury game at Talking Stick.  They are playing the Atlanta Dream on Sept 3rd.

5. Or for something totally different go play Naughty of Nice Bingo on Monday at 9:30 PM at Kobalt.

Whatever your plans include be sure that you leave ample time to recover on Monday since it's back to school & work for everyone on Tuesday!

For all of your Phoenix Property Management & Phoenix Real Estate Needs contact:

Friday, 18 August 2017

Phoenix Property Management Podcast - "Must Haves" On Your Phoenix Rental Home Application

Tune in to our latest podcast where we provide an overview of what to ask for on your Phoenix Rental Home Application

Wednesday, 16 August 2017

Phoenix Property Management - Top 3 Reasons Why Your Phoenix Investment Property Shouldn't Have A Pool

To buy a Phoenix rental property with or without a pool  is the question....and a question we get a lot as Phoenix Property Managers!  We suggest whenever possible to purchase without a pool and here are the top three reasons why:

1. A pool and pool equipment are another thing that can break and/or need repairs at your Phoenix rental home and unfortunately the repairs are usually not cheap.  Additionally, as a landlord you will want to pay for regular pool service because leaving it up to the tenant can lead to more repairs and expense.

2. It is another legal liability.  Even if you have your tenants sign  a disclaimer about pool and pool fence liability the reality is that if something goes wrong everyone sues everyone! Also, as the home owner you are most likely to be the one in the equation who has assets thereby making you an easy target for a law suit.

3. You will need to become familiar with Arizona Pool fence laws.  Most likely your pool will need some  kind of modification  whether it be installing a removable pool fence or self closing doors.  Click here for an overview of the Arizona Department of Health & Safety pool fence rules.  

If the Phoenix rental property you fall in love with happens to have a pool there are some upsides.  In the summer time your property will rent faster than comparably properties without a pool.  Additionally, you can anticipate about $100 more a month in rent pool versus no pool.  Also, consider titling your property into an LLC for additional liability coverage.

For all of your Phoenix property management and Phoenix real estate needs contact RPMWV Phx
855 748 7841

Thursday, 10 August 2017

Phoenix Property Management - Top 5 Ways To Minimize Weed Growth!

A few weeks ago we discussed the best way to prepare for the monsoon season the next step is to figure out how to control all of the weeds that have grown due to the rain! Below we outline the five best way to control weeds at your Phoenix rental home:

1. Spray a good quality pre-emergent every 6 months.  Although the pre-emergent won't remove the weeds that are there, it will definitely help to keep new weeds from sprouting. We recommend spraying in September and May.

2. Be sure your sprinkler heads are only watering your plants and bushes.  Additionally, if you have a plant or bush die remove or cap the sprinkler that was providing that bush water so that you don't get weeds in place of the bush.  Also, be sure that your sprinklers are spraying an area close to live bushes as any water outside of the bush can bring about unwanted weeds.

3. Make sure to pull your weeds!  Although this one may sound silly; often times people just spray a weed killer and then leave the unsightly dead weeds.  The better option is to remove the weeds and then spray a pre-emergent.

4. Use mulch in your garden/bushes/trees to reduce weed growth.

5. Replace dirt yards with rock and be sure to properly prepare your yard for the rock prior to installation using a weed barrier as well as tarp.

Unfortunately weeds are a big issue in Phoenix from March to October so it is best to be preventative and stay on top of the issue before weed growth is out of control!

For all of your Phoenix Real Estate & Phoenix Property Management Needs contact RPMWV Phx