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Friday, 18 August 2017
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
Thursday, 10 August 2017
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
Thursday, 3 August 2017
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
855 748 7841