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

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

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.