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!

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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
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