So the applicant discloses they may file for bankruptcy should you care????

As a landlord you should care.  Often times we hear from landlords that the tenants "seemed like good people".  They say the applicants had some credit struggles but showed lots of income and we really wanted to get the property rented so we moved forward......two months into the lease and the tenant stops paying rent AND decides to file bankruptcy.  Now the notion of a "simple" eviction is out the window and the landlord is stuck going to multiple courts in order to gain back possession.  Proper tenant screening is critical to a landlords success.  When reviewing an applicants credit don't just look at their score but instead look at each line of credit; does the applicant have a lot of large accounts with multiple late payments?  Has the applicant ever filed for bankruptcy?  When talking to the applicant on the phone ask about current and past times when they have struggled to make their payments.  It is amazing how many applicants will tell us over the phone of their plans to just "write it all off in a BK".  I know it is tough to be a landlord and have your property vacant but in long run it is much cheaper than ending up in bankruptcy court in order to win an eviction.

Rent Check Statistics for March 2013!

RENT Check™ is ARMLS’s monthly publication showcasing the Valley’s residential single family leasing market. It features the Rent Check Quotient™ (RCQ™) derived by dividing the # of leases by the # of closed sales as reported in STAT. Elevated lease activity is stoked by high foreclosures, which turn home owners into renters, and investor sales into rentals rather than owner occupied houses.

In March 2013 the Median Lease price was $1063 with average days on market of 55.  Should you decide to use professional property management services in Phoenix such as Real Property Management, your average days on market can be as low as 28 days.

It's Monsoon Season in Arizona - Is Your Rental Home Ready?

Roofs are one of the most neglected parts of a home, in regards to repairs.  With monsoon season upon us, is your home prepared for the wind, rain, and trees?  "Large trees may pose risks during monsoon storms."  Maybe a small leak during the winter was apparent, then the rain stopped and you put the problem out of your mind.  This is a good time to make sure that that small leak you had doesn't turn into needing new roofing.  This article contains tips about what to look for, in preparing your rental home for monsoon season in Arizona.

http://www.azcentral.com/style/hfe/diy/articles/2012/05/21/20120521monsoon-proofing-preparation-roof-tips.html?nclick_check=1

Dealing with the Evicition following a Trustee Sale

During the eviction process the new owner is essentially negotiating an agreement with the occupants, often through an attorney but sometimes directly. Today’s post will explore the basis for those negotiations.

The reason you will be negotiating is because each party, the new owner and the occupants (often the old owner, sometimes a tenant), probably has something the other wants:

The new owner has legal ownership of the property, including all attached appliances or improvements. That means:

1. A legal right to evict, including the use of force if the occupants aren’t out in time
2. A legal right to collect rent for the period in which the old occupants remain in the house.

The new owner wants:

1. Possession as quickly as possible.
2. No damage to the property.
3. No possessions from the occupant remaining on the premises.

The occupants have:

1. Possession, which means the ability to remain in the house until the eviction process has run its course
2. An implicit threat of causing trouble, through damage to the home or delaying the eviction via legal action

To read more please visit: www.foreclosureinvestingmadesimple.com/dealing-with-the-eviction-part-2/

Rental Home Market is Hot in the West Valley!

For real-estate agents, home buyers and especially home sellers, the West Valley is burning up, especially for homes less than $150,000. That heat is strongest in the market for homes of $100,000 to $150,000, forcing new buyers to move to higher ranges.Distressed properties, those houses owned by people facing foreclosure or short sales, still make up the bulk of sales. But ARMLS statistics show they have decreased in metro Phoenix to about 43 percent in May. That's a drop compared with their high-water mark in September 2010, when distressed properties made up 74 percent of homes sold.

Hire a Good Property in Phoenix by Property Management Companies

Phoenix Property Management Companies

Property management companies provide a good platform for getting a house for rent or for sale. They handle many kind of services like providing home to the potential tenants, collecting payments from tenants, listening to the complaints and many more. These companies provide many skilled and professional staff to take care for your property.

There are many online companies which are ready to help you in managing property. You can contact with them through internet. Many Phoenix Property Management Companies offer very good services to their clients. Many people purchase property for vacations, functions, and occasion and even for parties. They provide advertising services so that the tenants can easily get home. Before finalizing any property through these companies, try to check all the details related to them and even property. You should ask their clients who are associated with them.  These companies hire skilled and professional managers to make easier handling your property. They try to find those tenants who pay rent on time and handle your property in good way. Company’s members check your property time to time. Property management companies give proper guidelines to the property holder. Their mangers give information to the property owner about renter history, payments history, profit or loss statements, all rental applications, collecting the payments and all kinds of repair and maintenance issues. These companies provide services for commercial and residential property also. These companies take good care of your property and charge you reasonable for this assistance.

Property Management in EL Mirage Helps you to Find The Potential Tenant

Property Management in EL Mirage

Property management is a great way for the property owner to rent the house without spending their time in searching the renter, showing property to many potential tenants, collecting rents, listening to the complaints and all the paperwork. All the work is done by a property manager.

It is important for the property owner or potential tenant to find the right property management company. The Property Management in el Mirage is well known for their services. They adopt inventive processes and systems that are supervised by professionals, trained managers and highly experienced accountants. Customer satisfaction is their first priority. There are various online property management companies. You can search them on the internet. The details are given on the website. Read all the details of the company properly because they will be taking care of your money. Check the certificate of registration/registered of the company before finalizing the services of any property management company. Read the charges of the services offered by the company carefully. Read the reviews of the people who have experiences their services. Choose the reputed company.  All the advertisements and proper display and maintenance are the task of a skilled property manager. It is the duty of property manager to process all the rental applications, check the credit and background of the potential tenants, initiating rent contracts, monitoring the rent renewals, imposing the rules and regulations regarding the contract, dealing with the violators of the lease contract, mediator at the time of disputes between tenants occur, all kinds of maintenance or repair issues, knowledge of fair housing laws and to collect the payment.

Choose the best property management company to remain tension free.