Wednesday, 28 December 2016

Showing your rental property in Phoenix




Having researched and followed applicable laws with regard to renting out your Phoenix property, setting an appropriate rent and security deposit, making the home ready to rent to new residents and writing a stellar ad to get attention of those prospective residents; your phone and email should now be getting inquiries to visit the property.

Most new landlords in Phoenix think they will simply spend about half an hour to show their rental property.  Even if you live within 100 yards of your rental home, this simply is not the case. Showing a rental property will require significant time for initial discussion on the phone, applicant paperwork, and driving to/from your property. As such, time management becomes key to find a quality and qualified renter for your home.  A few things to keep in mind as you schedule your time and expenses for tax purposes are as follows per showing:

o   Time spent on phone for initial discussion, plan to talk 15-20 minutes
o   Drive to property, show tenant inside and outside, all features, 25-90 minutes
o   Applicant will fill out paperwork, this varies greatly; anywhere from 15 minutes to 3 days or longer
o   Car mileage: 57.5 cents per mile. If property ten miles away, then total mileage deduction would be $11.50 per each time driven
o   Car gas – About one gallon per visit – about $2.50 per gallon
o   Each showing will require 1.5 hours, $11 of wear & tear on car, and $2.50 in gas

Another trap many new landlords fall into is showing the property once and taking the first applicant with money in hand. However, it takes on average 7 to 15 showings to find a quality and qualified applicant. Based on the above numbers per showing, performing 7 to 15 showings will burn approximately 10-20 hours of your time (depending on how much your time is worth this can get costly!), $80-$230 for wear and tear on your car, and $17 to $37 in gas.  

The above information should give you a solid idea as to the time and costs required for showing your property so that you can plan accordingly. 

RPMWV Phx offers full service Phoenix Real Estate & Phoenix Property Management services.  For additional information you can contact us at info@rpmwvphx.com or 602-281-2884

Wednesday, 21 December 2016

Our December Phoenix Property Management Podcast on Rent & Sales Estimates on Zillow


Wednesday, 14 December 2016

Phoenix Property Management: Signing a Lease and Tenant Move In | Time and Costs Required





Our journey has taken us from determining market rent, to ensuring our Phoenix rental property is “rent ready” and will attract the best renters, to advertising our rental property for rent, to processing rental applications to choosing the right quality and qualified resident for our home.

Let us now look at what the process of moving people into the investment property should be. In the beginning of the process you were advised to obtain a state compliant lease for your rental property. Make sure you have read and fully understand your lease and all of your and your renter’s responsibilities with regard to the lease.  Your new renters will look to you for explanation of the lease and key terms and dates will need to be clear and concise. This lease signing time will also allow you the opportunity to set “house rules” with regard to items not specifically spelled out in the lease such as city noise ordinance times, changing of filters and light bulbs, maintenance responsibilities or any special neighborhood or Association rules.

Once the lease is signed, a move in evaluation should be performed with the resident noting any items that are damaged (whether or not they are going to be repaired should be noted), and condition of the home.  This is a good time to note make, model and serial numbers for appliances and size and number of filters and batteries needed for future reference. It is also a good idea to ensure your new residents know where the breaker box is, water shut off and how to operate sprinklers, garage door openers etc. Done correctly this process should take approximately two hours of your time.


The last step in this process is to actually give a set of keys and all other openers to the home to your new residents. This is important, do not release keys until the lease has been signed, monies due are collected and the walk through evaluation has been completed as the exchange of keys signifies change in residency.  Once this exchange takes place, you no longer have the right to come and go from your rental home but must give your new residents the State mandated notice before entering. Make sure the new residents have the means to reach you in case of emergency and know where and when to pay the monthly rent. Give a handshake and a smile to welcome them to the neighborhood.

RPMWV Phx offers full service Phoenix Real Estate & Phoenix Property Management services.  For additional information you can contact us at info@rpmwvphx.com or 602-281-2884

Thursday, 8 December 2016

Phoenix, AZ Water Heater Maintenance For Your Phoenix Rental Property




Water heater maintenance is fairly straightforward, and many property owners in Phoenix know how to do the basics, such as flushing the tank twice per year, checking the anode rod, and other aspects. However, many property owners either do not know about or forget about the air filter, which is often a black mesh ring circling the bottom of your water heater. This air filter helps keep dust and other grime from getting into your heater’s heating system. However, dust will build up on this filter, and this reduces the air flow to your heater, creating a less efficient heater since your heater requires air to ‘breathe’.  You should clean the filter each time you flush your tank. Cleaning your filter only takes a few minutes and requires no special tools. Follow these steps:

Turn Off Gas/Pilot Light
You do not want any dust flowing up into your heater while you are cleaning, so shut off the gas flow first.

Remove Filter
The filter is kept in place with a simple catching mechanism. Find the catch mechanism, undo, and remove from your heater’s bottom.

Clean
To clean your filter, you can use compressed air to blow away the excess dust. If you don’t have an air compressor, then lay out your filter on the ground, and then spray with water until the dust is removed.

Dry
If you use water to clean your filter, then hang your filter to dry, or wipe down with a cloth.

Put Filter Back in Place

Once your filter is dry, replace underneath your water filter by stretching around the bottom, and then using the grasp mechanism to secure. Check on all sides to ensure that your filter is sitting properly and without any gaps to allow dust through. 

RPMWV Phx offers full service Phoenix Real Estate & Phoenix Property Management services.  For additional information you can contact us at info@rpmwvphx.com or 602-281-2884

Wednesday, 30 November 2016

Renting Out Your Home in Phoenix: Initial Legal Concerns & Costs





So you have decided to make some extra money by renting out your home in Phoenix, AZ. Before making the leap, there are a few things you need to consider. 
Did you know that most states have Landlord/Tenant laws that can affect what you can and cannot do within the rental relationship? How about local health codes and/or city or county licensing requirements for rental properties? Do you have to have carbon monoxide detectors or how many smoke detectors are required? When is rent due and what is the legal late fee? And then there is the question of security deposits: whose money is it and when does it need to be returned? How do you make a claim to be reimbursed for expenses incurred by the tenant?

As you can see there is quite a bit to know about being a Phoenix Landlord and many ways to put your investment property and yourself at risk by not following guidelines, rules, ordinances and laws pertaining to rental properties. Before renting out your home, make sure you familiarize yourself with these items and talk with your insurance provider to make sure you have an investment property or landlord policy as a homeowner’s policy will not cover loss, damage or injury once you are no longer the primary resident in the home. You will need to plan spending three to seven hours to familiarize yourself with the various legal and insurance considerations before renting out your home.

Next you will need to have a way that the prospective renters can apply to rent your property. Leases can be purchased online or at an office supply store for low prices ($30-$40). However, many times these leases are not compliant to your local laws, and expose you as a Landlord to undue risk and liability. Use caution to ensure that you are not inadvertently violating renter’s rights by asking questions that may be unlawful as a landlord to ask. It is a good idea to have your lease reviewed by legal counsel to ensure the lease protects your rights as well as is compliant with your state’s laws.   You will need to plan spending two to three hours finding a lease, as well as $100 to $300 for an attorney to review your lease to ensure that it complies with regulations.

RPMWV Phx offers full service Phoenix Property Management & Real Estate Services.  For more information on all of our services please visit our website at rpmwvphx.com or call 602-281-2884

Tuesday, 22 November 2016

Overview of RPM WV Phoenix Online Tenant Portal System for Phoenix Property Management




Listen to our most recent podcast which provides an overview of our online tenant portal system for our Phoenix Property Management clients.  As always, we end our podcast with a free Phoenix Property Management Tip!






RPMWV Phx offers full service Phoenix Real Estate products including but not limited to Phoenix Property Management and Phoenix Real Estate purchases and sales.  For additional information on our products please contact us at 602-281-2884 or visit the rest of our website at rpmwvphx.com

Wednesday, 16 November 2016

The Top 3 Things to Consider Before Approving an Out of State Applicant for Your Phoenix Rental Home!


As Phoenix Property Managers, we get a lot of leasing calls from out of state applicants especially given how transient the Phoenix metro area can be.  Due to our vast experience, we are always concerned about leasing to out of state applicants and here are the top 3 some things to consider about before approving your out of state applicant.

1. Many times out of state applicants own a home in another state but relocating to Phoenix for employment or family which means it is easy for them to abandon the rental property in Phoenix and just move home.  Think about it, if you owned a home and rented one which payment would you be more concerned with paying; your mortgage or your rent?

2. Many times out of state applicants are re-locating to Phoenix for a new job - if that is the case do you accept any kind of offer letter?  Absolutely not!  Our credit requirements require the job to be with a large, national company with an office in the local Phoenix area that can be verified.  Also, make sure you call the main company phone line and speak with Human Resources to verify the letter and offer.

3. What about if the applicant doesn't have a job but offers to pay you a few months up front...we say RUN and run fast!  It is just too risky to rent to someone who does not have employment secured in the Phoenix area and if they are just going to begin their search when they move into your home who knows how long it will take.

We can certainly empathize that having your Phoenix rental home vacant can certainly hurt your cash flow but allowing a high risk tenant in the long run can end up making your cash flow hurt even more!


RPMWV Phx offers full service Real Estate services including but not limited to property management and real estate purchase/sales transactions.  For additional information about our services, please visit our website rpmwvphx.com or reach us at 602-281-2884

Monday, 7 November 2016

Phoenix AZ Rent Check Sept - Oct 2016







The following monthly rent statistics is from the ARMLS rent check so it measures rental properties that are advertised and leased through the assistance of the MLS (Multiple Listing System).  In September of 2016, 2,295 properties rented as compared to 2,600 in September of 2015. Additionally, the median lease amount was $1,295 with an average lease amount of $1,477.  The average days on market was 30 so this indicates that the rental market appears to be reaching more "normal" levels as opposed to several years ago when properties were renting in a day or two.  The rent quotient was 3:10 meaning that for every three leased properties, ten homes sold so could the Phoenix Metro area be heading for another bubble?


RPMWV Phx offers full service Real Estate Services for the Phoenix Metro area including property management and full real estate sales.  For information on our services please visit our website www.rpmwvphx.com or call us at 602-281-2884

Wednesday, 19 October 2016

Quick Simple tasks to get your Home Rent Ready


Many landlords believe that a quick sweep through the home prepares it for a new resident, but this is not enough as they are missing some crucial steps. Here are a few simple steps to ensure that your home is in tip-top shape and ready for a new occupant.
One: Re-key the Locks
Yes, you collected the keys from the resident, but did they make spares? All outside locking doors should be re-keyed between each resident. Additionally, rotate the codes on any garage doors, access gates, exterior property gates, and mailboxes.
Two: Maintenance Assessment
Do a thorough evaluation of home. Check for leaking pipes and electrical functionality, light bulbs and fixtures, garbage disposals, cabinets, windows and screens, window treatments, heating and cooling devices, doors, etc. This should also include replacing air filters and batteries in smoke and carbon monoxide detectors. The more detailed evaluation, the better!
Three: Upgrades or Repairs
More costly repairs are tricky to complete with a resident in the home. Assess the condition of all flooring materials, paint, bathtub surrounds, and major appliances. Now would be the time to make and repairs or replacements. 
Four: Exterior Clean Up
Don’t just look inside, look outside, too! Haul any debris from the yard, trim the trees, prune the bushes, and cut the grass. First glance needs to show the tenant how you want them to maintain the exterior and if there are weeds and debris you are not setting a good example!
Five: Cleaning
Even the best residents don’t often clean well enough. If needed hire a professional cleaning service for the job and get the carpets professionally cleaned. It makes all the difference in how the home shows and how quickly it rents.
These simple tasks will help you get your home in tip top shape quickly and easily. The better the home shows the more likely you will be able to place a tenant quickly. The last task would be to get your marketing done and get the home listed on the rental sites to place your next tenant! 

Thursday, 13 October 2016

Mutual Rescission of Lease Agreement - Phoenix


So you completed the back ground checks and the applicants for your Phoenix investment property seem like a good fit.  You move forward with the lease signing and the new tenants move in.  A few months later your "good fit" suddenly becomes your biggest nightmare and now what are your options?  Well, depending on the issues you may need to pursue an eviction however evictions are costly and mean that the tenant gets to live in your property for free for usually around 30 days (the average time it takes to evict a Phoenix tenant). During those 30 days there is a good chance that your tenants are destroying your property so what other options do you have?  Well, you could consider a mutual rescission of the lease.  With this option, you may be able to get the tenant out of the property faster and possibly with less damages.  

Here are the top 5 items to be sure to include in your agreement:

1. A confirmed date in which possession of the property must be returned

2. How possession must be returned - such as keys being dropped off to a certain location on a certain day and a certain time

3. Detail what happens to the security deposit keeping in mind that it is beneficial if you offer to return the deposit in full if the home is returned to you in the same condition as received as this will give the tenant incentive not to destroy the property 

4. Be sure to include a clause that the tenant can't pursue any additional actions against you during or after move out

5. Include that all parties must abide by the lease until the mutual rescission of lease agreement is executed by all parties

What is difficult in these types of situations is that is not morally or legally right that you should have to even present this option to your tenant who is most likely in breach of their contract in one way or the other.  However, decisions like these are business decisions and are made to in the long run save the business owner (in this case you) money in the long run.

If you, as a Phoenix self property manager find yourself in this or other types of property management situations and need any assistance please contact us at 623-748-7800 or visit our website at rpmwvphx.com

Wednesday, 5 October 2016

Phoenix Rental Home - Landscape Maintenance: Who is responsible?




As the seasons change, Real Property Management West Valley Phoenix wants to remind property owners of the importance of landscape maintenance before the change in weather arrives.

The Landlord, The Tenant, and The Lawn

Whether you have acres of land needing upkeep, or less labor intensive desert landscaping, landscape maintenance can be a gray area for rentals. Phoenix area property management companies agree that the job of landscape maintenance should fall to the property owner or manager and not to the tenant, unless tenant landscape responsibilities are specifically spelled out in the lease.

A well-kept yard can boost the overall appearance of your home, and change the way the tenant cares for the property by seeing that you do the same. But, when it comes to landscape maintenance, it’s more than just the lawn.

 The Low Down on Tree Trimming

Trimming any trees and shrubs on the property is an area of maintenance that should be completed at least on an annual basis. Tree and shrub trimming falls to the property owner, or a professional tree trimming service.

Trimming your trees and shrubs has many benefits including:

     Reduce the risk of damage to your home by trimming branches that are too close to windows, siding, and roof.
     Increase the longevity of the tree or shrub by removing branches that can cause problems to overall health.
     Ensure the safety of those on the property from being hurt by a falling branch.



Real Property Management West Valley Phoenix has access to tree and shrub trimming services and other landscape maintenance companies at a discount for our clients. If maintenance is not something you enjoy doing on your own, call us today to see how one of our preferred partners can help!

Tuesday, 27 September 2016

Overview of RPM WV Phoenix Online Owner Portal System


Listen in for a comprehensive overview of RPM WV Phoenix's online owner portal for the Phoenix investment property owner.

Wednesday, 21 September 2016

Knowing Where to Buy Your Metro Phoenix Rental Property

The old adage of “location, location, location” still stands today when it comes to Phoenix rental properties. There are a lot of ways you can go wrong with the location, even in ways that you can’t imagine. When selecting a good rental property, Real Property Management WV Phoenix in Phoenix, Arizona advises sizing up a few key aspects of the area to determine whether the property is a worthwhile investment.
Get to Know the Locals
Take some time with the people in the area. Real Property Management WV Phoenix in Phoenix, Arizona will evaluate the quality of surrounding neighborhoods, check for significant numbers of vacancies, and have a pretty good idea of the demographics of future tenants to assist you before moving forward with a property purchase. If you’re near a university, your tenants may consist mostly of students who might make a mess and leave fairly regularly. Knowing this can help you evaluate whether or not you would like to manage a property with consistent turnover such as student housing. Real Property Management WV Phoenix in Phoenix, Arizona will also use government and other resources to look up crime statistics and any other available information on registered offenders and crime history in the area that could help avoid making a poor purchase decision.
Think Like a Renter
After meeting with people from the neighborhood, you should have a better idea about the demographic of your future tenants and what some of their goals might be. The experts at Real Property Management WV Phoenix know that schools, public  transportation, shopping and job opportunities are important to these tenants. Doing a little research on education and employment options in the area will not only help you know if the location is a worthy investment, it will also help you in future marketing if you choose to purchase the property. Real Property Management WV Phoenix knows stable companies and quality schools will ensure the area does not lose its property value over time.
Go in with Your Eyes Wide Open
In the end, a property is never an investment if it does not turn the necessary profits. Real Property Management WV Phoenix in Phoenix, Arizona knows your long-term tax costs to better evaluate your somewhat predictable cost-profit ratios. Taxes can bleed you dry if you are not careful in understanding up front what is expected of your building type in that city. Each city can also have individual limitations on building permits or future development permits, so make sure you do your research. Doing this before you purchase the property will ensure you don’t find yourself stuck with a headache later.

RPMWV Phoenix offers real estate transaction and property management services.  For more information on our services contact us at 602-281-2884 or visit our full website at rpmwvphx.com

Wednesday, 14 September 2016

The New Look of Tenant Screening for your Phoenix Rental Property


According to Real Property Management West Valley Phoenix, tenant screening for Phoenix is about to take on a whole new look. Whether you think of screening as a tool to protect yourself and your investment or as a dreaded part of being a property manager, it is absolutely critical for your success and safety.

Since background checks are performed for protection, there are several key factors your screening should include:
      Income (after taxes) is 3X the monthly rent
      Credit is clear of collections and evictions
      Positive references from past landlords
      Verifiable employment history
      Criminal history is checked

Even as a Do-it-yourself landlord, it is important to establish clear rules for who you will and will not accept and stick to them. Tenants with a rough past often avoid renting from property management companies because of the stricter guidelines for qualification, however, if you are going to be completely fair (and lawful) in your requirements and avoid complaints, you must treat everyone equally by asking the same questions and not bending the rules for one person and not others. Phoenix investment property owners need to remember: it’s not personal, it’s business.

The next time you screen a tenant and are wondering about the screening process, remember that you are allowed to reject tenants with: bad credit history, insufficient income to meet the rent demands, previous damage to other units, consistent late rent payments,  poor job history. You cannot, however, reject an application for discriminatory reasons including: race, religion, nationality, gender, age, disability status, and/or familial status. Acting as a businessman instead of an emotional one will leave you with a better reputation as a Phoenix investment property owner.

The key to successful property management is consistency. Consistency in who you rent to, what questions you ask, and the screening process you put each tenant through will allow you to avoid possible lawsuits and Fair Housing Act laws.

RPMWV Phx offers full service Phoenix property management.  For additional information please contact us at 602-218-2884 or visit rpmwvphx.com



Thursday, 8 September 2016

Phoenix Property Management Does come with an Instruction Manual

 

Throughout our 25 years of Phoenix property management, we have witnessed far too many hardworking families fail at the real estate investing game. We have watched as they consider investing as part of their retirement plans, find the perfect homes at the perfect times and perfect prices, make the offers, and never even stop to consider the fact that real estate investing is a JOB. And it’s not an easy one. They do not factor in the time they will spend at their properties, preparing them for tenants, showing,  leasing, responding to maintenance calls at all hours of the day (or night), dealing with tenants who don’t care for their properties, inspecting the land and homes to be proactive about maintenance, and possibly even dealing with evictions. When you factor all of those aspects into the purchase, it may seem like a daunting task to be an investor, and may cause you to question why people even do it in the first place.


Enter the Instruction Manual
With the right team and council behind you, Phoenix property management does not need to be an overwhelming burden. As the leading property management company in Phoenix we know what it takes to be successful. We have witnessed, far too many times, when people bite off more than they can chew in this industry, but we have also been present for success stories. In fact, we wrote the book on successful property management…literally.
If you are considering taking the leap into the world of rental property investment, don’t.  At least not right away, Instead, make sure that you are properly educated and have thought everything through - that’s the best way to be successful.

Wednesday, 31 August 2016

Rent Cycle for Real Property Management West Valley Phoenix

Real Property Management WV Phoenix is the Phoenix property management company that knows the leasing cycle from rent-ready to lease renewal. An important first step in that cycle is having your property rent-ready. Understanding what it means to have your property ready to show and move in can significantly reduce the number of vacancy days your property has. Real Property Management WV Phoenix takes the steps to prepare a rental property before it is ever shown to prospective tenants or even advertised will have greater rental success.
When a unit is vacant, we immediately suggest that you have the property re-keyed. This is often a legal requirement in many places because it keeps your future tenants safe from theft and burglaries. You have no idea who could have the key that your old tenants had. The safety of your tenants should always be a priority and should be taken care of long before someone moves into your rental. Changing the locks is a important safety precaution for you and your prospective tenants, even when the property is empty. Install a lock box that holds the key for the convenience of future showings with leasing agents.
Now is also a great time to take care of any repairs and/or remodels you have to do to the property. This includes any outdoor or indoor work, and anything that might have been destroyed by the previous tenants. However, make sure that all cleanup is done before showing a home. Keep the utilities on so that prospective tenants can really see what the property looks like in any weather and at any time of day. Always remember safety and take care of any broken windows, mold, broken locks, and exposed wires.
Before you set that rent rate, Real Property Management WV Phoenix can complete a rent market analysis to determine the best rental rate for your specific location and unit. When your home is professionally cleaned and all appliances checked and in working order, you are getting closer to being rent-ready.
Finally, take a good look at your property from the curb. Does it have that curbside appeal that will give the positive first impression you want. Just a little initial effort will make a big difference towards your leasing your property quickly and ensuring your investment is giving you a return.



Wednesday, 24 August 2016

Rejecting prohibited forms of your Phoenix rental payment




As we have reviewed in other blogs, Arizona law (A.R.S. § 33-1371) allows landlords to reject rental payments that are not for the full amount due.  Additionally, we have addressed why as a Phoenix Landlord you shouldn't accept partial rent payments - main reason being that you often don't get the rest of the payment or if you do it is so late that then the resident doesn't have any funds to pay the next months' rent.  

However, did you know that as a Phoenix Landlord you may reject payment attempts by your resident - even if it is the full amount due at that very moment - when the payment form is one that is not permissible under your lease agreement (for example not allowing payment by personal check).  Refusal is performed by returning the incorrect form of payment directly to the resident, but what do you do if it was a night-drop or mailed payment?  In these circumstances, you can use a modified version of your rent demand notice keeping in mind that you must declare your rejection of the non-conforming payment attempt, describe the exact problem with that payment tender (e.g., by not paying via certified funds on or after the 5th day of the month), and inform the resident that he/she still has the obligation to pay the rent in full via the proper format - and do so within five days.

There are two caveats here.  First, rejecting the incorrect form of payment with a written note will not be sufficient to place the resident on formal notice that he/she has not paid the rent.  The non-payment of rent notice must be prepared in writing and either hand-delivered to the resident or sent via certified U.S. mail to the residence and must always be issued prior to commencing an eviction action for non-payment.  Second, if you have already issued a non-payment of rent notice and the resident tries to pay with the non-conforming payment offer, do not use this form - because you will end up restarting the "cure-or-quit" clock.

Use of this notice will hopefully be rare, but it is nice to know that you do have an option if your tenant pays with the wrong wrong payment type.



RPMWV Phx offers full service property management in the Phoenix metro area. Please contact us for additional information about our services rpmwvphx.com

Tuesday, 16 August 2016

Should You Allow a Co-Signer For Your Phoenix Rental Home????


Most of the time the answer will be a very loud NO!  Co-signers by definition are individuals who guarantee rental payment however they will not be residing in the property.  Rental applicants need co-signers because they can't qualify for the home on their own usually due to financial limitations.  The result is you end up with a tenant who has little to no financial responsibility for the rent payment and therefore often times shows little to no responsibility to the upkeep of the property.  Typically this leads to increased issues with your HOA if you have one and moderate to sever damages when the tenant vacates.

There is one exception to this rule for Phoenix investment property owners whose property is near a University such as in the metro Phoenix area we have Arizona State University in Tempe.  Properties in this area almost always guarantee a co-signer because often times the applicant is a full time student with no verifiable income and usually the co-signer is the applicants parent (s). However be careful around some vocational schools such as in Phoenix we have MMI which is a Motorcycle school in which case many students are older than your "typical" college age.  Additionally, you will probably find students working on bikes in your garage and driveway creating again HOA issues and damages.

In conclusion, the best way to protect your Phoenix rental property is to say "NO" to co-signers!


RPMWV Phx offers full service Phoenix property management with Phoenix property managers who are ranked #1 in the Phoenix area.

Wednesday, 10 August 2016

Property Management & Statistics for Buckeye, AZ

This week, we will compare the full year market data from 2014 to present in Buckeye, AZ and more specifically in Verrado in Buckeye AZ.

Verrado is a master-planned community located in the city of Buckeye, Arizona, approximately 25 miles west of downtown Phoenix.

All figures for this Buckeye, AZ analysis are taken from closed rental data from the MLS from 2014 to present.

We will focus on the rental homes listed on the Arizona MLS and break down the resulting rental data by year.

The rental property data we look at from Buckeye and Verrado in Buckeye focuses on closed, unfurnished rental properties.T

The rental home prices in Buckeye and Verrado in Buckeye shown in this study show good gains as detailed below.  The inventory in Buckeye shows a significant decrease over the time period while Verrado shows an increase in 2015 and possibly an increase for 2016.





 Another interesting note revealed by the numbers is that although the average rent for Buckeye rental property is lower the average days on the market is also substantially lower than those of Verrado.  Additionally, the increase in the average rent for Buckeye investment properties increased more than the increase in Verrado.  In conclusion, the rental property market in Buckeye, AZ and specifically Verrado remains strong.

To receive a rental analysis on your Phoenix rental property email us at info@rpmwvphx.com.

Wednesday, 3 August 2016

7 Ways to Communicate Better with your Phoenix Tenants



They say that you can’t over-communicate with someone.  In the case of rental tenants, it’s perhaps even more true. So whether by email, phone, or carrier pigeon, staying in contact with your tenants makes everything else with managing your rental unit easier. Here are 7 communication tips from the leader in Phoenix PropertyManagement.

Take the emotion out of it--
Whether you have great residents or more challenging tenants, you need to see the owner-tenant relationship as a business venture. Treat the residents professionally, and don’t get attached or too personal. Communication should  be honest and clear.

Do more. Lots more--
Your tenants deserve to hear from you often. Email, call, mail—it doesn’t matter, just make sure you’re staying in communication. With regular inspections and maintenance needs, your tenants need to always know what is going on around their home.

Work Locally--
If you hire a property management team, make sure they have Phoenix property management experience. Each market location is different. Find someone who is experienced with property management in Phoenix and you’re on your way.

Be clear about expectations--
Nothing sours a relationship faster than unmet expectations. Be clear with your expectations. You and your tenants will have a much better experience. Clear communication of expectations can start at the time of the lease signing. 

Don’t hover--
Allow your tenants to figure out how they want to live in the house, they do not want or need your advice on how to set up their household. You can focus on making the experience as streamlined and as easy as possible. Just keep yourself available should they have questions.

Hard Copies--
The idea of "nail and mail” has been around for a long time for good reason—it works; especially with legal issues or financial matters. It’s best to give your tenants hard copies of official paperwork and documents. Word of mouth and cyberspace aren’t always the best documentation options for official communications.

Certify your mail--
Many property management Phoenix firms certify every piece of mail that goes out to the client. That way, they can ensure the communication was received or refused. Either way, a record is kept, and you can prove what has or hasn’t been done.

Tenant communication when managing your own Phoenix property can be an overwhelming experience. The good news is that it doesn’t have to be that way. If you find a good Phoenix property management partner, many of these issues can be easily taken care of  for you.  


Wednesday, 27 July 2016

Roller Coasters, Renting, and Phoenix Property Management



Imagine waiting in line for your favorite roller coaster. Finally, after much anticipation, you get to the front of the line to take your turn on the ride. As the ride zips off, taking you through twists and turns and ups and downs, you feel exhilarated. And although at some points you feel nervous, after finishing the ride you know it was definitely worth the wait.

Now apply the same situation to owning real estate rental property. You’ve waited a long time to get to a point in your life where you could have investment property bringing you in an extra source of income. As you search for the perfect investment property, you are filled with much anticipation, wondering what kind of ride you will be on as a Phoenix investment property owner. Now, your turn has finally come to take that ride.
As you find your first tenant and progress through the leasing process, your ride begins. Then the twists and turns and up and downs hit as you wonder if you chose the right people to live in your home and calls come in for maintenance in the middle of the night. The money for repairs begins adding up, and you find yourself nervous, wondering if this ride is really worth it.
Enter RPMWV Phx. As a leader in single family home Phoenix property management, we understand that managing rental property can sometimes be a bumpy ride. That is why we have developed a proven and technology-driven process to efficiently and carefully manage properties in the Phoenix area. Our process, developed with the single family home in mind, paired with our unsurpassed customer service, allows us to rise above the competition and work with property owners to have the Phoenix property management ride they desire.
With our services, you can lose the nervous feeling in your stomach over not knowing what twist or curve will be thrown your way next. We take on the difficult challenges that come with being a Phoenix property manager, and leave you to relax and enjoy the ride.
The next time you are worried about your Phoenix property management ride, rely on our services to help you enjoy it more!