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

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

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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

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