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:
RPMWV Phx
www.rpmwvphx.com
info@rpmwvphx.com
623-748-7800

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
www.rpmwvphx.com
info@rpmwvphx.com
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
rpmwvphx.com
info@rpmwvphx.com


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:
RPMWV Phx
855-748-7841
info@rpmwvphx.com
rpmwvphx.com

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
rpmwvphx.com
info@rpmwvphx.com

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
1-855-748-7841
rpmwvphx.com
info@rpmwvphx.com

Thursday, 3 August 2017

Phoenix Property Management - June 2017 Rent Statistics Check


With the May 2017 numbers we saw a drop in Phoenix rented properties over 2016 however in June we interestingly see an increase....Using numbers from ARMLS the Arizona Regional Multiple Listing Service, June Phoenix leased homes were 2461 as opposed to the same time period in 2016 in which 2382 homes leased.  The median lease price for the respective same time periods was $1395 in 2017 and $1375 in 2016. The average leased price saw a little bit of an increase year over year but again not the degree that some sources such as Zillow and Truilia have been indicating. The 2016 average lease amount was $1568 in contrast to 2017 in which the average was $1577. The average days on market were very similar year after year with 26 in 2016 and 28 in 2017.  Finally, the rent quotient was the same at three rental transactions for every ten sales transactions.  

These numbers do help to provide quite a bit of useful information for the Phoenix Real Estate Investor.  For example, the continuation of the increasing rental prices in Phoenix is very much real however it isn't as large as a lot of online free sites such as Zillow and Truilia suggest.  The demand for Phoenix rental properties is still very much alive which means investing in a Phoenix rental home may be a very good place to park some cash right now.

For all of your Phoenix Real Estate & Phoenix Property Management needs contact RPMWV Phx 
info@rpmwvphx.com
855 748 7841
rpmwvphx.com


Wednesday, 26 July 2017

Phoenix Property Management - Three Tips for a successful Phoenix Move!



No matter how you look at it, moving is stressful! Packing, changing routines and uprooting your household is a surefire recipe for stress no matter who you are.  However, adding pets and children into the equation can amp up the stress even more! Here we provide tips for the three steps of a move; preparation, moving day and post move.

Preparation:
The best way to prepare your children is to talk about the move and have them assist with the prep work.  Let them decide on things like paint color for their new room.  If possible, take them to things such as restaurants, shops and schools near the new property and help them visualize what new memories will be like at the new home.  As much as possible try to engage your kids in the packing process so that if you have to pare down their items they assist with the decision making.  Be sure to pack a few of their favorite items either in the car or at the top of a box specially marked so they can have them at the new home right away.

Moving Day:
Expect moving day to be hectic, and do everything you can to alleviate that stress. If you can, have a friend take your pet for the day so that you don’t have to worry about them getting out while moving things into the new place.  Also, maybe see if your kids can do a play day with friends so that they don't have to experience the stress and pressure with the actual move.

Post-Move Tips:
Try to unpack all boxes as quickly as possible so that the property starts to feel like a home quickly.  Return your pets to their normal eating and walk schedule right away.  Also, be sure your kids have their favorite toys. Getting back to routine provides security and comfort to little ones (with both two and four feet!) in the midst of change.



For all of your Phoenix property management & Phoenix Real Estate needs contact RPMWV Phx 623-748-7800; info@rpmwvphx.com; www.rpmwvphx.com

Wednesday, 19 July 2017

Phoenix Property Management - Top 3 Things to Prep Your Phoenix Rental Home For Monsoon Season!


It's certainly that time again when the Phoenix skies begin to cover with clouds in the afternoon and before you know it the thunder is deafening and the lightening is blinding....what we Phoenician's call Monsoon Season!  During this season traffic becomes a mess as the dark clouds roll in and getting out of your car makes you look like a drowned rat BUT let's not forget what these nasty storms can do to your Phoenix home.  As a result we have put together the top three things that can be done to prep your Phoenix rental home for monsoon season.

1. Have your roof thoroughly inspected by a professional roofer who can advise of broken roof tiles and leaks.  Have any repairs completed on your roof by end of May before the monsoon season starts.

2. Hire a professional landscaper at the beginning of June to remove all branches from near the property and to remove any trees that could potentially hit the property if struck by lightening.  Additionally, stake down any young trees that could be uprooted by the storm.

3. Check drainage around the entire property.  Have you ever noticed when it rains there are pools of water in the yard?  If so, be sure to get those evaluated as you may need to have your grounds leveled to avoid possible flooding.

In summary, monsoon season can be a very dangerous and expensive time in Phoenix so it is best to prepare your Phoenix rental home prior to the beginning of the storms.

For all of Phoenix Property Management & Real Estate needs contact: 
RPMWV Phx 623-748-7800 * info@rpmwvphx.com * www.rpmwvphx.com

Wednesday, 12 July 2017

Phoenix Property Management Advertising your Phoenix Rental Home


Enjoy our latest podcast which discuss the best items to highlight in the advertisement for your Phoenix Rental Property.  Tip regarding bedroom count is provided at the end!



Wednesday, 28 June 2017

Phoenix Property Management - Rent Statistic Check




How hot is the Phoenix Real Estate market???  Well, perhaps not quite as hot as you think....at least on the rental market side.  The basis for our investigation is Rent check which is the publication issued by ARMLS using transactions that were listed on the Multiple Listing System (MLS).  More specifically we are going to look at rental comparisons from May 2016 to May 2017.  

2,290 total units rented in May of 2016 with an average lease amount of $1505; median lease price of $1340 and an average days on the market of 26.  In comparison; 2,082 total units rented in May of 2017 with an average lease amount of $1153; median lease of $1383 and an average days on the market of 27.  These numbers indicate that on average rental prices have increased about $50.00 from 2016 - 2017 which is a nice increase but not the $100's of dollars that some sources may have you thinking.  Also, properties that are listed over market rental price are still sitting as well as properties that do not show their best.  

In conclusion, to place qualified tenants in a timely manner the best option is to use a Phoenix Real Estate professional who can correctly assess rental rates based on occupied rental homes in your area and who can assist with prepping your property for the market.

For all of your Phoenix Real Estate& Phoenix Property Management needs be sure to contact RPMWV Phx www.rpmwvphx.com 623-748-7800

Monday, 19 June 2017

Phoenix Property Management - Union Hills Manor, Phoenix





In our latest podcast we provide an indepth anaylsis of the Phoenix rental ranges for Union Hills Manor Phoenix and why such sites as Zillow & Trulia list rental ranges that are so far from the actual rental amount.


For all of your Phoenix Real Estate& Phoenix Property Management needs be sure to contact RPMWV Phx www.rpmwvphx.com 623-748-7800

Wednesday, 14 June 2017

Renter's vs Homeowner's Insurance - Phoenix Property Management




Both types of insurance are extremely important so here we will break down the similarities and differences between the two:

Similarities:

1.Both offer coverage of personal belongings in cases of fire, theft & natural disaster 

2.Both offer liability coverage meaning that you have protection against lawsuits from damage caused to a third-party such as a visitor.

3.Both offer supplementary living arrangements so should your home become uninhabitable the insurance pays for living expenses such as food, accommodation and travel.

Differences:

The only significant difference between renter’s insurance and homeowner’s insurance is that structural features such as walls, fixtures and plumbing are the responsibility of the homeowner. Renter’s insurance only covers the rental liability and their personal belongings.  

It is important that both tenants and landlords read policies in full to be sure they have the best coverage for their needs.

And for all of your Phoenix Real Estate& Phoenix Property Management needs be sure to contact RPMWV Phx www.rpmwvphx.com 623-748-7800

Wednesday, 7 June 2017

How to avoid melting in the Phoenix Summer Heat!




Phoenix has officially hit triple digits so summer is here!  Here are some tips on beating the heat:

1. Invest in a Yeti mug (or something similar) - they have ones as big as 64 oz and it will keep your water cool all day long!

2. Buy black out curtains for windows in your home that receive direct sunlight - you'll be amazed at your AC savings!

3. Make sure to take pets out only early in the am or early evening once the sun has gone down - be sure to bring water with you for both you and your pet!

4. Plan a quick COOL weekend getaway over the summer - just a few days of relief can really help you get through the summer heat!

5. Check your tires and wipersCheck your wipers as well as your tires this month. It is typical for Phoenix to have summer monsoons and rubber dry rots in desert climates. Tires are more prone to crack and leak long before you wear out the tread. Plus, you don’t want to get caught in a sudden downpour and find that your wipers are crumbled strips flailing and scraping on your windshield. *Make sure your engine coolant and water levels are correct for the season too! *

Be sure to use plenty of sunscreen and visit the link below to find the best swimming pools in the valley!





And for all of your Phoenix Real Estate& Phoenix Property Management needs be sure to contact RPMWV Phx www.rpmwvphx.com 623-748-7800

Wednesday, 31 May 2017

Phoenix Property Management - Phoenix Rental Ad Scams




Unfortunately “Rental Scams” are very popular in the Phoenix rental market. There are several scams such as non-existent properties advertised online as well as vacant properties that have been broken into and the scammer has changed the locks. The most common that we see in the Phoenix rental market is where someone takes a rental property advertisement and changes the contact and other information in the ad so that you contact that person rather than the property manager who is really advertising and renting the home out.  This scam happens all of the time on craigslist making craigslist one of the worse places to looking for a rental home.

If you are the person looking for the rental, here are the red flags you should look for:

1. Price - if the rental price is well below all other properties in the area and/or well below market than you know right away that the ad is probably fake.  
2. The Lister only accepts cash - almost no property management companies except cash.
3. The Lister can't meet to show you the property and/or doesn't have a local office location
4. The Lister asks for money up front before meeting to show you the property and/or before signing a lease
5. There is no application process in place

To protect yourself against these scams be sure to visit the website of the property management company to find the listing there as you can be sure the information will be accurate there.  

If you do unfortunately get scammed be sure to contact law enforcement and file a report. You should also contact the owner of the source where the fraudulent advertisement was posted. Additionally, file a complaint with the Federal Trade Commission (FTC). More information can be found by clicking on the link below:




And for all of your Phoenix Real Estate& Phoenix Property Management needs be sure to contact RPMWV Phx www.rpmwvphx.com 623-748-7800


Wednesday, 24 May 2017

Phoenix Property Management - Evictions



Evictions are never pleasant. The reasons for eviction vary dependent on the individual or situation. With “no-cause” evictions being targeted by cities and states as being unlawful and unfair, and ultimately being removed as options to landlords this leaves only for cause eviction proceedings. So, which of the following are cause for an eviction?

1.Noise Complaints

2.E-Cigarette Use

3.Medical Marijuana Use

4.Landscape Damage

5.Unpaid Rent

6.Unauthorized Pet

7.Any of the Above

The answer which may be surprising is #7 Any of the Above!

Although any of the instances above could end in eviction proceedings, most are considered “curable” under the law.  For example, noise complaints can be rectified by turning down the TV or stereo volume;  an unauthorized pet can be approved to stay with fees paid or removal from the premises; landscape damage can be corrected; etc. Unpaid rent can even be paid with late fees. The only exception  would be lease language that specifically states drug or e-cigarette use on the premises is grounds for immediate termination.  However, this too is open to interpretation by the judge that would hear the case.

When considering an eviction, it is imperative to seek counsel to ensure you have covered your bases and have the proper documentation and back-up to win your case.  Although evictions are never pleasant, we at Real Property Management WV Phoenix strive to guide you through the process with as few head and heartaches as possible.

And for all of your Phoenix Real Estate needs be sure to contact RPMWV Phx www.rpmwvphx.com 623-748-7800

Wednesday, 17 May 2017

Appreciation of Phoenix Real Estate During 2016 & Predictions for 2017

May Podcast Available Now!!!



And for all of your Phoenix Real Estate & Phoenix Property Management needs be sure to contact RPMWV Phx www.rpmwvphx.com 623-748-7800

Thursday, 11 May 2017

Top 5 Things to do in Phoenix in the Summer!


Summer is right around the corner which in Phoenix that means temps as high as 120 degrees so we have compiled the list of the top 5 things to do to beat the heat!

1. Go to a D'Backs game!  What a great way to spend 3-4 hours in lots of cool AC while being entertained AND eating some great junk food.

2. Visit a spa! Phoenix is known for having some of the best spa's in the country.  What's great about the spa is you can spend the day enjoying all of the amenities such as pool, amazing food, locker room with great smelling lotions & soaps AND in between enjoying a relaxing massage or facial.

3. Visiting a city outside of Phoenix such as Sedona, Flagstaff or Prescott where temps can be down as low as the '70's in the summer so its a great way to escape the heat.

4. Hang out at a water park!  Phoenix is a mecca of water parks so you can find them in almost every city and it's a great place to spend the day with your family.

5. Spend the day floating on the salt river....just be sure to go early before it gets really crowded but it's a great way to float your worries away.


And for all of your Phoenix Real Estate needs be sure to contact RPMWV Phx www.rpmwvphx.com 623-748-7800

Wednesday, 3 May 2017

To Buy a Phoenix Rental Property with a Pool or to Not To Buy......






That is definitely an important question in the Phoenix rental market when summer temperatures often reach over 110 degrees!  Although there are several factors to consider in this posting we will take a look at the maintenance.  If your Phoenix rental property has a pool then the first thing you need to consider is who will be responsible for the weekly pool maintenance.  We always recommend that our property owners take on that cost to ensure that the pool is properly maintained.  There are two main reasons for this; first if the pool isn't well maintained the repairs can get extremely costly.  Second if you leave the pool services to the tenant they most likely will try to take care of the pool on their own rather than paying a pool service which again can lead to very costly repairs ultimately for the home owner.  The good news is that you can usually make up the cost for the monthly pool services with the rent.  On average in the Phoenix rental market, a house with a pool will garner approximately $100.00 more than a home without a pool and on average pool services in the Valley run between $80 - $100 so typically the two items are a wash.

Unfortunately, as the home owner you do need to budget for some typical pool expenses that occur outside of the routine weekly services.  Three such examples are:

Draining and refilling the pool to refresh the water. The usual indication for this is increased chemical requirements and aggressive algae buildup. When all your natural minerals in the water are depleted, it's time to change out the water.  Here in Phoenix, we have one of the worst water sources in the country with very high levels of calcium that damage the pool, pool equipment, and the various faucets and plumbing equipment both inside and outside your home.  The typical cost to drain and refill a pool is roughly $300-$500 and fortunately only needs to be done on average every 5-7 years.   
Changing out the pool filters and baskets Depending on your system, this will cost anywhere from $400-$1000 and happens every 4 to 8 years depending on the outside factors as described above. 
Cleaning the filters Depending on your pool equipment system, you may need to clean out the pool filters approximately every 6 months.  On average the cost is between $85 - $120 per clean out.
There are certainly perks to having a Phoenix rental with a pool.  During the spring/summer and fall months your rental property will be in high demand as all Phoenix residents look to escape the heat.  Additionally, when you are ready to sell your Phoenix home, your home value will certainly be higher with than without a pool.  In conclusion, when looking for your Phoenix rental home purchase be sure to way both the costs and benefits to determine which property is right for you.

RPMWV Phx has been offering full service Phoenix Real Estate & Phoenix Property Management services for over 20 years so let our experience assist you with your Phoenix rental needs.  623-748-78001 www.rpmwvphx.com

Thursday, 27 April 2017

Smoking in your Phoenix Rental Property - Yes or No??



RPMWVPhoenix Property Management has a strict no smoking policy in place that our owners appreciate. However some DIY Landlords fail to often fail to have a smoking policy. We would recommend everyone have a firm No smoking policy to protect their Phoenix Rental Property.  
With E-cigarettes being touted as an effective means to quit smoking tobacco, their use is on the rise. It is easy to spot a person using an E-cigarette from the cloud of vapor surrounding them, whether it be in a public place or in a residential area. Although it was initially considered harmless, E-cigarette smoking can leave deposits of hazardous substances and can result in expenses from cleaning the filmy residue left behind. Because of this potential for damage to your Phoenix rental property, we advise that owners of single-family rentals prohibit E-cigarette usage, just as you would prohibit other forms of smoking. The cost to re-mediate the damage caused could be quite costly. 
Residue is one of the primary reasons landlords should not allow E-cigarette smoking inside their Phoenix rental properties. The vapor emitted from E-cigarettes leaves behind a filmy residue on windows, mirrors, doors, walls and carpets that is tough and expensive to eliminate. (This is very similar to regular cigarettes but a bit more difficult to remove). With the risk of damage and added expenses to your rental home turn over cost RPMWVPhoenix thinks it is best to have a firm No Smoking Policy in terms of your lease.
Aside from its hard-to-remove residue, E-cigarette smoke consists of chemicals that can be a hazard to the body. Research shows that vapors from these cigarettes are toxic. According to an analysis conducted by the FDA, the vapor expelled from this device contains hazardous ingredients such as diethylene glycol, nitrosamines, and nicotine. Other sources also found carcinogenic substances like formaldehyde and benzene in some devices.
An article posted on landlordtalking.com talks about other issues with E-cigarettes. The article takes about two recent incidences of car fires due to the E-cigarette battery charger. As well as a man who recently reported that his own charger suddenly caught fire in the middle night while he slept. This event forced him to leave his apartment causing damage. These types of fires are well documented with devices that use Lithium Ion batteries such as E-cigarettes, cell phones and laptops.
Once you have the facts about E-Cigarettes it should be clear that a No Smoking Policy should include the use of these devices as well to protect your Phoenix Rental Property.

Wednesday, 19 April 2017

Security Deposit Dispositions

Listen to our latest podcast about Security Deposit Dispositions & Phoenix Property Management




RPMWV Phx has been offering full service Phoenix Real Estate & Phoenix Property Management services for over 20 years so let our experience assist you with your Phoenix Real Estate needs.  623-748-7800 www.rpmwvphx.com

Wednesday, 12 April 2017

Vetting Phoenix Tenants Properly To Protect Yourself and Your Phoenix Rental Property



Vacancy in your Phoenix rental property is an emergency. A vacant property bleeds cash in the form of lost rent and utility costs. Landlords know this and they feel the acute pain when the mortgage payment is due, but no rent is coming in to cover it. Just like flinching from a hot stove, many do-it-yourself (DIY) landlords recoil from the pain and try to remove the pain by placing the first resident who comes along. But at what cost?  In many situations, this is like jumping from the frying pan into the fire. A poor tenant placement can mean rent still doesn’t come in to pay the mortgage. But worse, because the property is now occupied, a paying resident cannot be placed. Cost also comes in the form of property damage caused by a poor resident placement.  Even though the cost of a poor placement is so great, a survey conducted by Boston based research firm Liminality Inc. found that:

      Only 44% of DIY landlords conduct sex offender checks.
      Only 51% of DIY landlords conduct criminal background checks.
      23% of DIY landlords sometimes or never conduct credit checks.
      Only 51% of DIY landlords contact past landlords for references.

Good vetting can mean that there are a couple more days of vacancy. However, the cost of good vetting far outweighs the cost of a bad resident placement in your Phoenix rental property.

Here are some examples of RPMWV Phoenix Property Management vetting out poor residents that would have been placed without a good process:

      We found from a previous landlord that the applicant had started multiple fires at the property during their tenancy.
      From a Phoenix criminal check we found an applicant with multiple drug related convictions.
      An applicant had a wad of cash, but no monthly income.

In all of these examples, without a vetting process and a set of standards, landlords would have rented to them. Each of them had money. In some cases, they even pulled it out and showed us, “Look, I will give you this if you let me move in.”

DIY landlords also get a higher number of unqualified applicants looking at their properties. Why? We have people call us and ask if we will accept someone with a felony. The tenant community knows that professional managers have a better screening process. Therefore, unqualified applicants try to find the DIY landlords that they know likely won’t check their background.

Here are the checks that RPMWV Phoenix conducts on every applicant over the age of 18:
      Verify Income greater than 2.5-3x rent
      Credit check
      National criminal check
      Phoenix Criminal check
      Sex offender check
      Check social media accounts
      Previous Landlord references

Criminal activity committed in Phoenix does not show up on national criminal checks. RPMWV Phoenix has to make a special request at the courthouse to pull Phoenix criminal records. Even some professional managers don’t take this important step.

While vetting is important, equally important is how the checks are interpreted and used for qualifications. All qualifications must be fairly and equally applied so the manager or landlord doesn’t run afoul of fair housing laws.

RPMWV Phx has been offering full service Phoenix Real Estate & Phoenix Property Management services for over 20 years so let our experience assist you with your Phoenix rental needs.  623-748-78001 www.rpmwvphx.com