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 

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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

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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 

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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 

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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

Phoenix Property Management Podcast - Rental Success Process

Our end of the year podcast discusses our top four steps in the Phoenix Rental Success Process.  

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

Phoenix Property Management Podcast - Top 5 Rental Neighborhoods Laveen, AZ

Listen to Real Property Management Phoenix (WV)'s latest Phoenix property management podcast discussing the Laveen, AZ rental property market.

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

Real Property Management Phoenix (WV) Top 5 Goodyear Subdivision for Rental Properties

Real Property Management Phoenix (WV) analyzed single family rental property subdivision statistics within the main neighborhoods in Goodyear AZ utilizing the MLS (Multiple Listing System). We identified the top 5 rental property subdivisions in Goodyear, AZ for rent closing volume.

It should be noted that several Goodyear neighborhoods had double digit rental closings.  However, the data from Real Property Management Phoenix (WV) represents the top 5 subdivisions based on closed rental properties year to date.  

Goodyear, AZ - number of closed single family rental property transactions for year to date 2018 = 571.  Top 5 subdivisions break out as follows:

Palm Valley – 119

Estrella – 117

Canyon Trails - 93

Sarival Village – 45

Wildflower Ranch - 41

The top 5 rental property markets in Goodyear represent 73% of the closed rental property transactions in Goodyear, AZ for year to date 2018. This is in stark contrast to Surprise in which the top 5 neighborhoods only represented 36% of the total closed rental home volume.  The remainder was spread out among the other Goodyear neighborhoods.

Here is the closed rental property rental price for the top 5 Goodyear neighborhoods, AZ rental property subdivisions year to date 2018:

Palm Valley – $1716.00

Estrella – $1634.00

Canyon Trails - $1369.00

Sarival Village – $1325.00

Wildflower Ranch - $1299.00

Please note that homes in Palm Valley and Estrella tend to be larger  home with such amenities as three car garages and pools which explains the higher average rental price.

Overall the Goodyear area is an excellent area for Phoenix rental properties.

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

Phoenix Property Management Podcast Multi-Family Phoenix

Listen to our latest podcast about items to look for when considering a Multi-Family unit purchase.  Discussion of Phoenix Property Management challenges at the end.

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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 

Unauthorized Occupants & Pets

As the owner of single-family rental home in the Phoenix area, you will often find it difficult to gauge how well your residents are upholding each of the terms of their lease. You may have even carefully spelled out the terms in clear language in the lease but several aspects of lease enforcement can be more trouble than others. One of these is the issue of occupancy and pets. Upon, application for the home and lease signing, you probably asked your tenant to provide information about everyone who would be occupying the home, including minors and pets being brought into the home. By clarifying who will live in the home, you’ve taken steps to protect yourself and your investment.

Often times after your tenant moves in, however, you may find it can be difficult to determine whether the occupancy terms are being followed or you find an unauthorized pet.  Occupants of single-family rental homes often invite overnight guests or others to the home and they may bring a pet along with them. But problems can arise when those guests stay for an extended period, or when someone visits with such frequency (such as a babysitter or older adult children) that they appear to be living within the home well as well as their pet. In other cases, residents may be subletting rooms in the property without permission from the landlord.

While accusing your residents of violating lease terms may cause some friction at that moment often times the situation can quickly remedied by the new occupant completing an application so that a proper determination can be made about their occupancy or getting a completed pet addendum and deposit on file. If you suspect an occupancy or pet violation, gather as much information as you can and then take appropriate action with your tenant. If unauthorized people or pets are living in the home, this can put you at risk of increased liability for damages as you have no record of the unauthorized occupants past housing history and / or you may not have a signed pet addendum or deposit on file for damages caused by the unauthorized pet. Allowing unauthorized pets to remain on the property carries risks of increased wear and tear, as well as damage to the property.  

Hiring a reputable property management company such as RPM West Valley Phoenix to help solve this problem. As an experienced property manager RPM WV Phx can help you avoid the murky terrain of occupancy and pet violations in several ways. First, we will include appropriate language in the lease itself for both occupancy and pets. RPM WV Phoenix will properly screen potential renters, checking carefully for red flags and past violations. RPM WV Phoenix will perform property evaluations, gathering information that can identify any contract violations. Finally, we will help you resolve the issue in the event of a violation, giving you peace of mind about your valuable real estate investment.

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 

Real Property Management Phoenix (WV) Discusses A Little About Arrowhead Ranch, Glendale AZ; Rental Figures for 85308

Real Property Management Phoenix (WV) studied the 85308, Glendale AZ zip code as well as the Arrowhead Ranch, Glendale AZ Rental statistics.

Arrowhead Ranch, Glendale AZ has a population of approximately 85,000. It is located north of union hills, west of 51st Ave, east of the 101 freeway and south of Deer Valley. It is a neighborhood within the 85308, Glendale subdivision.

All of Real Property Management Phoenix (WV) rental market figures for the 85308 zip code as well as the 85308 Glendale AZ zip code were taken from closed rental data from the Arizona MLS from 2015-2018 (Year to Date).

Below is the data compiled by Real Property Management Phoenix (WV); overall the Arrowhead Ranch area average rent has been higher than the 85308 zip code in its' entirety. However the average rental price increase from 2015 - 2018 for the zip code of 85308 was 16% as compared to the average increase for the same time period for Arrowhead Ranch of about 10%. The average days on market is substantially lower in the Arrowhead Ranch area year to date for 2018.

A little about Arrowhead Ranch, Glendale, Arizona... 

• Arrowhead Ranch has almost the same number of males as females with 41,124 males and 42,931 females

• 53.5% of the population is married
• Total household expenditures in Arrowhead Ranch are above the average
• The median age of the current population is 38.40

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 

Listen to our latest podcast with a further review of the above and to hear our listener question and answer.

Real Property Management Phoenix (WV) Top 5 Surprise Subdivision for Rental Properties

Real Property Management Phoenix (WV) analyzed single family rental property statistics in the 27 main subdivisions in Surprise AZ utilizing the MLS (Multiple Listing System). We identified the top 5 rental property subdivisions in Surprise, AZ for rent closing volume.

We found great balance within this city from a rental property numbers standpoint and there are several subdivisions with double digit rental numbers.  The data below is for the top 5 subdivisions looking at rental property closings year to date in 2018.

Surprise, AZ - number of closed single family rental property transactions for year to date 2018 = 676.

Surprise Farms – 74

Sierra Montana – 53

Rancho Gabriela - 46
Mountain Vista – 43

Bell West Ranch - 25

The top 5 rental property markets in Surprise represent 36% of the closed rental property transactions in Surprise, AZ for year to date 2018. The remainder was spread out among the other Surprise subdivisions.

Here is the closed rental property price for the top 5 Surprise, AZ rental property subdivisions year to date 2018:

Surprise Farms – $1401.00

Sierra Montana – $1413.00

Rancho Gabriela - $1416.00
Mountain Vista – $1643.00

Bell West Ranch - $1478.00

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

Phoenix property management newest podcast - how to successfully change phoenix property management companies

On this month's podcast we discuss how and when to change or bring on a new property management company.  Our slide show presentation also provides a list of items that you will need for a successful change.

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

Real Property Management Phoenix (WV) Discusses A Little About Peoria; Rental Figures for 85381

Real Property Management Phoenix (WV) studied the 85381, Peoria AZ zip code as well as the entire City of Peoria Rental statistics.

Peoria is located about 30 minutes northwest of downtown Phoenix. It is home of Lake Pleasant and is  a rapidly-growing, modern city that offers a high quality of living. The 85381 zip code boundaries are located to the west of 67th Avenue, east of 95th Avenue and  North of Cactus and East of Greenway.

All of Real Property Management Phoenix (WV) rental market figures for the 85381 zip code as well as the City of Peoria were taken from closed rental data from the Arizona MLS from 2015-2018 (Year to Date).

Below is the data compiled by Real Property Management (WV); the City of Peoria appears to be a close match in numbers to the 85381 zip code.

Year	Location	# of Props	Avg. Rent	Avg. DOM
2015	Peoria	1071	$1,295	27
2016	Peoria	871	$1,350	24
2017	Peoria	887	$1,400	25
2018	Peoria	535	$1,495	24
Year	Location	# of Props	Avg. Rent	Avg. DOM
2015	85381	115	$1,290	24
2016	85381	85	$1,350	21
2017	85381	98	$1,375	22
2018	85381	44	$1,445	18

                                                

Reviewing the data from Real Property Management Phoenix (WV); the average rental price increase from 2015 - 2018 for the zip code of 85381 was 12% as compared to the average increase for the same time period for the City of Peoria was about 15% which is quite a bit more. The average days on market is lower in the zip code of 8581 at only 18 days versus 24 days in the rest of the City.  

In Real Property Management Phoenix (WV) conclusion is that the 85381 zip code is an excellent one for a rental properties.

A little about Peoria, Arizona... 

• The City of Peoria's Population was approximate 164,173 in 2016 

• Peoria is Ranked 7th on America’s Best Cities to Live per Yahoo Finance

• Was voted #36 Healthiest US Cities to live in 2017

• Peoria is home to Lake Pleasant Regional Park an oasis in the desert. The 23,000 acre park is home to two marinas and is a popular spot for boating, fishing, water skiing, kayaking, camping, and even scuba diving!

• Lake Pleasant ranked which was the 6th Most Visited Natural Attraction in Arizona in 2017 

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