Phoenix Property Management - Top 4 "Must Haves" on the Lease Agreement

 
The second podcast in our three part series on Lease agreement "Must Haves" is now available! 

For all of your Phoenix Real Estate & Phoenix Property Management Needs Contact:

Real Property Management Phoenix Phoenix

www.rpmphoenixvalley.com

602-358-8130

info@rpmphoenixvalley.com 
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Gilbert, AZ Rental Property Comparison of two zip codes; 85296 & 85234!

Real Property Management Phoenix Valley compiled a comparison of the Gilbert rental zip code 85234 and the Gilbert rental zip code of 85296 during the time periods of 2015 - 2018.  Real Property Management Phoenix Phoenix Valley utilized data from the MLS (Multiple Listing System).

The 85234 Gilbert zip code is west of Power, east of Gilbert, south of Baseline and north of Elliott.  The total population is just under 51, 000.

The 85296 zip code is west of Power, east of Gilbert, south of Elliott and north of Ray.  The total population is around 42, 500.

Real Property Management Phoenix Valley comprised the above spreadsheets which illustrate the year, zip code, number of properties that rented, average rent and average days on the market for both the 85234 and 85296 zip codes.  The 85296 Gilbert zip code saw an increase in rental prices from 2017 to 2018 of 9% whereas the 85234 zip code saw an increase of less than 7%.  Interestingly the homes in the 85296 zip code rented much faster than the 85234 zip code in 2018. 

The 85234 zip code is comprised of almost 23% renters whereas the 85296 zip code is comprised of almost 30% renters.  Both zip codes are excellent for owning investment property as average income in 85234 is approximately $98K and $104K for zip code 85296.

For more information about the zip code in which you own a rental or are looking to purchase a rental please contact us at 602-358-8130.

For all of your Phoenix Real Estate & Phoenix Property Management Needs Contact:

Real Property Management Phoenix Phoenix

www.rpmphoenixvalley.com

602-358-8130

info@rpmphoenixvalley.com 

Follow @rpmwvphoenix

Top 5 Essential Items In Your Phoenix Lease Agreement - Phoenix Property Management

Our March podcast is the first in a three part series of the essential items to include in your Phoenix Lease Agreement.  Additionally, a FREE tip is dealt at the end!

For all of your Phoenix Real Estate & Phoenix Property Management Needs Contact:

Real Property Management Phoenix Valley

www.rpmphoenixvalley.com

info@rpmphoenixvalley.com 

602-358-8130

Follow @rpmwvphoenix

Real Property Management Phoenix Valley Top 5 Avondale Subdivision for Rental Properties

Real Property Management Phoenix Valley analyzed single family rental property subdivision statistics within the main neighborhoods in Avondale AZ utilizing the MLS (Multiple Listing System). We identified the top 5 rental property subdivisions in Avondale, AZ for closed rental volume during 2018.

The city of Avondale, AZ  runs east and west of the I-10 freeway from 99th Ave to Litchfield Road and is strategically located near not only the I-10 but the Loop 101 as well.

Avondale, AZ - number of closed single family rental property transactions for year to date 2018 = 442.  Top 5 subdivisions break out as follows:

Coldwater Springs – 60

Rancho Santa Fe – 27

Crystal Gardens – 26

Garden Lakes - 23

Glenhurst - 21

As opposed to the Goodyear subdivision analysis completed by Real Property Management Phoenix Valley; Avondale has a ton of neighborhoods with rentals so the number of closed rental transactions per neighborhood is smaller.

The top 5 rental property markets in Avondale represent 36% of the closed rental property transactions in Avondale, AZ for year 2018. This is in stark contrast to Goodyear and more in line with Surprise in which the top 5 neighborhoods also represented 36% of the total closed rental home volume.  The remainder was spread out among the other Avondale neighborhoods.

Here is the average rental price for the top 5 Avondale, AZ rental neighborhoods as per Real Property Management Phoenix Valley's analysis:

Coldwater Springs – $1322.00

Rancho Santa Fe – $1335.00
Crystal Gardens – $1414.00

Garden Lakes - $1611.00

Glenhurst - $1427.00

Overall the Avondale rental area is an excellent area for Phoenix rental properties as illustrated by the average rent that is achieved and listed above.  Additionally, its' close proximity to two main freeways increases the appeal.

For all of your Phoenix Real Estate & Phoenix Property Management Needs Contact:

Real Property Management Phoenix Valley

www.rpmphoenixvalley.com

info@rpmwvphx.com 

602-358-8130

Real Property Management Phoenix (WV) - Real Property Sales Phoenix (WV) Latest Podcast On Selling Your Home With Pets

Real Property Management Phoenix (WV) & Real Property Sales Phoenix (WV) Latest podcast discusses selling your Phoenix home with pets.  At the end the FREE tip is dealt.

For all of your Phoenix Real Estate & Phoenix Property Management Needs Contact:

Real Property Management Phoenix (WV)

www.rpmwvphx.com

602-358-8130

info@rpmwvphx.com 

Follow @rpmwvphoenix

Real Property Management Phoenix (WV) Phoenix Property Management Zip Code Comparison

Real Property Management Phoenix (WV) compiled a comparison of the Phoenix rental zip code 85022 and the Phoenix rental zip code of 85023 during the time periods of 2015 - 2018.  Real Property Management Phoenix (WV) utilized data from the MLS (Multiple Listing System).

The 85023 Phoenix zip code is west of the I-17, east of Central, north of Thunderbird and south of Union Hills.  The population of the 85023 zip code is approximately 31,274.

The 85022 Phoenix zip code is west of Central, east of Cave Creek, north of Thunderbird and south of Union Hills.  The population of the 85022 zip code is approximately 46,395.

Real Property Management Phoenix (WV) comprised the above spreadsheets which illustrate the year, zip code, number of properties that rented, average rent and average days on the market for both the 85022 and 85023 zip codes.  Interestingly both zip codes saw a decline in the average rent from 2017 to 2018 however the 85022 zip code was more dramatic with over $100.00 decrease.  Not surprisingly the 85022 zip code had more homes rent each year which goes in line with the higher population.

Both zip codes are close to freeways (the I-17 and 101) making them desirable Phoenix rental locations.

For more information about the zip code in which you own a rental or are looking to purchase a rental please contact us at 602-358-8130.

For all of your Phoenix Real Estate & Phoenix Property Management Needs Contact:

Real Property Management Phoenix (WV)

www.rpmwvphx.com

602-358-8130

info@rpmwvphx.com 

Follow @rpmwvphoenix

Useful Life and Property Damage: What Every Phoenix Landlord Needs to Know

It's a common scenario in your Phoenix rental property: a resident has moved out of a rental home, leaving the property a mess or damaged. On top of the necessary cleaning the house badly needs, you discover that interior elements like the carpets and walls have sustained damage beyond normal wear and tear. Frustrated, you may console yourself with the thought that your resident is responsible for the cost of the repairs.

Or are they?

Depending on how long ago you installed the carpet or painted the walls, they may not be responsible to pay for or replace anything.

Who is responsible to pay for repairing damaged interiors depends almost entirely upon the “useful life” of the damaged item. Home interiors are made up of many elements that have a range of life expediencies. Paint, carpet, and other flooring wear out over time, and so their useful life can be quite short. This is particularly true for rental homes, as the standard number of years is shortened when the home is lived in by multiple occupants not just one family.

Most carpets used in rental homes have a useful life of about five years. If your resident manages to damage the carpet within the first five years after the date of installation, they may be responsible for the pro-rated share of the cost of replacement, or for cleaning costs if the carpet is simply very dirty.

But if the carpet is older than five years and needs to be replaced, chances are that no matter how negligent your resident has been, the courts will almost always rule in their favor. Generally speaking, if the damaged carpet is over five years old, you probably won’t be able to make a convincing case that your resident is responsible for the repairs. If that is true, then you will bear the full cost of repairs yourself.

The best course of action is to replace the carpet in your rental home on a regular basis. It’s also important to do regular property evaluations to monitor the condition of the property, including the carpets and other interior features. At Real Property Management Phoenix (WV), we take a proactive approach to property maintenance and repair. That means that we will work with you and your resident to keep a close eye on the property, complete necessary maintenance when needed, and inform you to replace worn items when their useful life is over.

For all of your Phoenix Real Estate & Phoenix Property Management Needs Contact:

Real Property Management Phoenix (WV)

www.rpmwvphx.com

info@rpmwvphx.com 

602-358-8130

Follow @rpmwvphoenix