Tuesday, 22 January 2019

Real Property Management Phoenix (WV) Phoenix Property Management Zip Code Comparison


Real Property Management Phoenix (WV) compiled a comparison of the Phoenix rental zip code 85022 and the Phoenix rental zip code of 85023 during the time periods of 2015 - 2018.  Real Property Management Phoenix (WV) utilized data from the MLS (Multiple Listing System).

The 85023 Phoenix zip code is west of the I-17, east of Central, north of Thunderbird and south of Union Hills.  The population of the 85023 zip code is approximately 31,274.

The 85022 Phoenix zip code is west of Central, east of Cave Creek, north of Thunderbird and south of Union Hills.  The population of the 85022 zip code is approximately 46,395.



Real Property Management Phoenix (WV) comprised the above spreadsheets which illustrate the year, zip code, number of properties that rented, average rent and average days on the market for both the 85022 and 85023 zip codes.  Interestingly both zip codes saw a decline in the average rent from 2017 to 2018 however the 85022 zip code was more dramatic with over $100.00 decrease.  Not surprisingly the 85022 zip code had more homes rent each year which goes in line with the higher population.

Both zip codes are close to freeways (the I-17 and 101) making them desirable Phoenix rental locations.

For more information about the zip code in which you own a rental or are looking to purchase a rental please contact us at 602-358-8130.



For all of your Phoenix Real Estate & Phoenix Property Management Needs Contact:
Real Property Management Phoenix (WV)
www.rpmwvphx.com
602-358-8130
info@rpmwvphx.com 


Tuesday, 8 January 2019

Useful Life and Property Damage: What Every Phoenix Landlord Needs to Know




It's a common scenario in your Phoenix rental property: a resident has moved out of a rental home, leaving the property a mess or damaged. On top of the necessary cleaning the house badly needs, you discover that interior elements like the carpets and walls have sustained damage beyond normal wear and tear. Frustrated, you may console yourself with the thought that your resident is responsible for the cost of the repairs.

Or are they?

Depending on how long ago you installed the carpet or painted the walls, they may not be responsible to pay for or replace anything.

Who is responsible to pay for repairing damaged interiors depends almost entirely upon the “useful life” of the damaged item. Home interiors are made up of many elements that have a range of life expediencies. Paint, carpet, and other flooring wear out over time, and so their useful life can be quite short. This is particularly true for rental homes, as the standard number of years is shortened when the home is lived in by multiple occupants not just one family.

Most carpets used in rental homes have a useful life of about five years. If your resident manages to damage the carpet within the first five years after the date of installation, they may be responsible for the pro-rated share of the cost of replacement, or for cleaning costs if the carpet is simply very dirty.

But if the carpet is older than five years and needs to be replaced, chances are that no matter how negligent your resident has been, the courts will almost always rule in their favor. Generally speaking, if the damaged carpet is over five years old, you probably won’t be able to make a convincing case that your resident is responsible for the repairs. If that is true, then you will bear the full cost of repairs yourself.

The best course of action is to replace the carpet in your rental home on a regular basis. It’s also important to do regular property evaluations to monitor the condition of the property, including the carpets and other interior features. At Real Property Management Phoenix (WV), we take a proactive approach to property maintenance and repair. That means that we will work with you and your resident to keep a close eye on the property, complete necessary maintenance when needed, and inform you to replace worn items when their useful life is over.



For all of your Phoenix Real Estate & Phoenix Property Management Needs Contact:
Real Property Management Phoenix (WV)
www.rpmwvphx.com
info@rpmwvphx.com 

602-358-8130

Tuesday, 18 December 2018

Phoenix Property Management Podcast - Rental Success Process





Our end of the year podcast discusses our top four steps in the Phoenix Rental Success Process.  




For all of your Phoenix Real Estate & Phoenix Property Management Needs Contact:
Real Property Management Phoenix (WV)
www.rpmwvphx.com
info@rpmwvphx.com 

602-358-8130

Friday, 7 December 2018

Phoenix Property Management Podcast - Top 5 Rental Neighborhoods Laveen, AZ





Listen to Real Property Management Phoenix (WV)'s latest Phoenix property management podcast discussing the Laveen, AZ rental property market.



For all of your Phoenix Real Estate & Phoenix Property Management Needs Contact:
Real Property Management Phoenix (WV)
www.rpmwvphx.com
info@rpmwvphx.com 

602-358-8130

Monday, 19 November 2018

Real Property Management Phoenix (WV) Top 5 Goodyear Subdivision for Rental Properties

Real Property Management Phoenix (WV) analyzed single family rental property subdivision statistics within the main neighborhoods in Goodyear AZ utilizing the MLS (Multiple Listing System). We identified the top 5 rental property subdivisions in Goodyear, AZ for rent closing volume.

It should be noted that several Goodyear neighborhoods had double digit rental closings.  However, the data from Real Property Management Phoenix (WV) represents the top 5 subdivisions based on closed rental properties year to date.  

Goodyear, AZ - number of closed single family rental property transactions for year to date 2018 = 571.  Top 5 subdivisions break out as follows:

Palm Valley – 119
Estrella – 117
Canyon Trails - 93
Sarival Village – 45
Wildflower Ranch - 41

The top 5 rental property markets in Goodyear represent 73% of the closed rental property transactions in Goodyear, AZ for year to date 2018. This is in stark contrast to Surprise in which the top 5 neighborhoods only represented 36% of the total closed rental home volume.  The remainder was spread out among the other Goodyear neighborhoods.




Here is the closed rental property rental price for the top 5 Goodyear neighborhoods, AZ rental property subdivisions year to date 2018:

Palm Valley – $1716.00
Estrella – $1634.00
Canyon Trails - $1369.00
Sarival Village – $1325.00
Wildflower Ranch - $1299.00


Please note that homes in Palm Valley and Estrella tend to be larger  home with such amenities as three car garages and pools which explains the higher average rental price.

Overall the Goodyear area is an excellent area for Phoenix rental properties.

For all of your Phoenix Real Estate & Phoenix Property Management Needs Contact:
Real Property Management Phoenix (WV)
www.rpmwvphx.com
info@rpmwvphx.com 

602-358-8130

Monday, 5 November 2018

Phoenix Property Management Podcast Multi-Family Phoenix



Listen to our latest podcast about items to look for when considering a Multi-Family unit purchase.  Discussion of Phoenix Property Management challenges at the end.



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

Real Property Management Phoenix (WV)

www.rpmwvphx.com
602-358-8130
info@rpmwvphx.com 

Monday, 22 October 2018

Unauthorized Occupants & Pets



As the owner of single-family rental home in the Phoenix area, you will often find it difficult to gauge how well your residents are upholding each of the terms of their lease. You may have even carefully spelled out the terms in clear language in the lease but several aspects of lease enforcement can be more trouble than others. One of these is the issue of occupancy and pets. Upon, application for the home and lease signing, you probably asked your tenant to provide information about everyone who would be occupying the home, including minors and pets being brought into the home. By clarifying who will live in the home, you’ve taken steps to protect yourself and your investment.
Often times after your tenant moves in, however, you may find it can be difficult to determine whether the occupancy terms are being followed or you find an unauthorized pet.  Occupants of single-family rental homes often invite overnight guests or others to the home and they may bring a pet along with them. But problems can arise when those guests stay for an extended period, or when someone visits with such frequency (such as a babysitter or older adult children) that they appear to be living within the home well as well as their pet. In other cases, residents may be subletting rooms in the property without permission from the landlord.
While accusing your residents of violating lease terms may cause some friction at that moment often times the situation can quickly remedied by the new occupant completing an application so that a proper determination can be made about their occupancy or getting a completed pet addendum and deposit on file. If you suspect an occupancy or pet violation, gather as much information as you can and then take appropriate action with your tenant. If unauthorized people or pets are living in the home, this can put you at risk of increased liability for damages as you have no record of the unauthorized occupants past housing history and / or you may not have a signed pet addendum or deposit on file for damages caused by the unauthorized pet. Allowing unauthorized pets to remain on the property carries risks of increased wear and tear, as well as damage to the property.  
Hiring a reputable property management company such as RPM West Valley Phoenix to help solve this problem. As an experienced property manager RPM WV Phx can help you avoid the murky terrain of occupancy and pet violations in several ways. First, we will include appropriate language in the lease itself for both occupancy and pets. RPM WV Phoenix will properly screen potential renters, checking carefully for red flags and past violations. RPM WV Phoenix will perform property evaluations, gathering information that can identify any contract violations. Finally, we will help you resolve the issue in the event of a violation, giving you peace of mind about your valuable real estate investment.

For all of your Phoenix Real Estate & Phoenix Property Management Needs Contact:
Real Property Management Phoenix (WV)
www.rpmwvphx.com
602-358-8130
info@rpmwvphx.com