Wednesday, 19 October 2016

Quick Simple tasks to get your Home Rent Ready


Many landlords believe that a quick sweep through the home prepares it for a new resident, but this is not enough as they are missing some crucial steps. Here are a few simple steps to ensure that your home is in tip-top shape and ready for a new occupant.
One: Re-key the Locks
Yes, you collected the keys from the resident, but did they make spares? All outside locking doors should be re-keyed between each resident. Additionally, rotate the codes on any garage doors, access gates, exterior property gates, and mailboxes.
Two: Maintenance Assessment
Do a thorough evaluation of home. Check for leaking pipes and electrical functionality, light bulbs and fixtures, garbage disposals, cabinets, windows and screens, window treatments, heating and cooling devices, doors, etc. This should also include replacing air filters and batteries in smoke and carbon monoxide detectors. The more detailed evaluation, the better!
Three: Upgrades or Repairs
More costly repairs are tricky to complete with a resident in the home. Assess the condition of all flooring materials, paint, bathtub surrounds, and major appliances. Now would be the time to make and repairs or replacements. 
Four: Exterior Clean Up
Don’t just look inside, look outside, too! Haul any debris from the yard, trim the trees, prune the bushes, and cut the grass. First glance needs to show the tenant how you want them to maintain the exterior and if there are weeds and debris you are not setting a good example!
Five: Cleaning
Even the best residents don’t often clean well enough. If needed hire a professional cleaning service for the job and get the carpets professionally cleaned. It makes all the difference in how the home shows and how quickly it rents.
These simple tasks will help you get your home in tip top shape quickly and easily. The better the home shows the more likely you will be able to place a tenant quickly. The last task would be to get your marketing done and get the home listed on the rental sites to place your next tenant! 

Thursday, 13 October 2016

Mutual Rescission of Lease Agreement - Phoenix


So you completed the back ground checks and the applicants for your Phoenix investment property seem like a good fit.  You move forward with the lease signing and the new tenants move in.  A few months later your "good fit" suddenly becomes your biggest nightmare and now what are your options?  Well, depending on the issues you may need to pursue an eviction however evictions are costly and mean that the tenant gets to live in your property for free for usually around 30 days (the average time it takes to evict a Phoenix tenant). During those 30 days there is a good chance that your tenants are destroying your property so what other options do you have?  Well, you could consider a mutual rescission of the lease.  With this option, you may be able to get the tenant out of the property faster and possibly with less damages.  

Here are the top 5 items to be sure to include in your agreement:

1. A confirmed date in which possession of the property must be returned

2. How possession must be returned - such as keys being dropped off to a certain location on a certain day and a certain time

3. Detail what happens to the security deposit keeping in mind that it is beneficial if you offer to return the deposit in full if the home is returned to you in the same condition as received as this will give the tenant incentive not to destroy the property 

4. Be sure to include a clause that the tenant can't pursue any additional actions against you during or after move out

5. Include that all parties must abide by the lease until the mutual rescission of lease agreement is executed by all parties

What is difficult in these types of situations is that is not morally or legally right that you should have to even present this option to your tenant who is most likely in breach of their contract in one way or the other.  However, decisions like these are business decisions and are made to in the long run save the business owner (in this case you) money in the long run.

If you, as a Phoenix self property manager find yourself in this or other types of property management situations and need any assistance please contact us at 623-748-7800 or visit our website at rpmwvphx.com

Wednesday, 5 October 2016

Phoenix Rental Home - Landscape Maintenance: Who is responsible?




As the seasons change, Real Property Management West Valley Phoenix wants to remind property owners of the importance of landscape maintenance before the change in weather arrives.

The Landlord, The Tenant, and The Lawn

Whether you have acres of land needing upkeep, or less labor intensive desert landscaping, landscape maintenance can be a gray area for rentals. Phoenix area property management companies agree that the job of landscape maintenance should fall to the property owner or manager and not to the tenant, unless tenant landscape responsibilities are specifically spelled out in the lease.

A well-kept yard can boost the overall appearance of your home, and change the way the tenant cares for the property by seeing that you do the same. But, when it comes to landscape maintenance, it’s more than just the lawn.

 The Low Down on Tree Trimming

Trimming any trees and shrubs on the property is an area of maintenance that should be completed at least on an annual basis. Tree and shrub trimming falls to the property owner, or a professional tree trimming service.

Trimming your trees and shrubs has many benefits including:

     Reduce the risk of damage to your home by trimming branches that are too close to windows, siding, and roof.
     Increase the longevity of the tree or shrub by removing branches that can cause problems to overall health.
     Ensure the safety of those on the property from being hurt by a falling branch.



Real Property Management West Valley Phoenix has access to tree and shrub trimming services and other landscape maintenance companies at a discount for our clients. If maintenance is not something you enjoy doing on your own, call us today to see how one of our preferred partners can help!

Tuesday, 27 September 2016

Overview of RPM WV Phoenix Online Owner Portal System


Listen in for a comprehensive overview of RPM WV Phoenix's online owner portal for the Phoenix investment property owner.

Wednesday, 21 September 2016

Knowing Where to Buy Your Metro Phoenix Rental Property

The old adage of “location, location, location” still stands today when it comes to Phoenix rental properties. There are a lot of ways you can go wrong with the location, even in ways that you can’t imagine. When selecting a good rental property, Real Property Management WV Phoenix in Phoenix, Arizona advises sizing up a few key aspects of the area to determine whether the property is a worthwhile investment.
Get to Know the Locals
Take some time with the people in the area. Real Property Management WV Phoenix in Phoenix, Arizona will evaluate the quality of surrounding neighborhoods, check for significant numbers of vacancies, and have a pretty good idea of the demographics of future tenants to assist you before moving forward with a property purchase. If you’re near a university, your tenants may consist mostly of students who might make a mess and leave fairly regularly. Knowing this can help you evaluate whether or not you would like to manage a property with consistent turnover such as student housing. Real Property Management WV Phoenix in Phoenix, Arizona will also use government and other resources to look up crime statistics and any other available information on registered offenders and crime history in the area that could help avoid making a poor purchase decision.
Think Like a Renter
After meeting with people from the neighborhood, you should have a better idea about the demographic of your future tenants and what some of their goals might be. The experts at Real Property Management WV Phoenix know that schools, public  transportation, shopping and job opportunities are important to these tenants. Doing a little research on education and employment options in the area will not only help you know if the location is a worthy investment, it will also help you in future marketing if you choose to purchase the property. Real Property Management WV Phoenix knows stable companies and quality schools will ensure the area does not lose its property value over time.
Go in with Your Eyes Wide Open
In the end, a property is never an investment if it does not turn the necessary profits. Real Property Management WV Phoenix in Phoenix, Arizona knows your long-term tax costs to better evaluate your somewhat predictable cost-profit ratios. Taxes can bleed you dry if you are not careful in understanding up front what is expected of your building type in that city. Each city can also have individual limitations on building permits or future development permits, so make sure you do your research. Doing this before you purchase the property will ensure you don’t find yourself stuck with a headache later.

RPMWV Phoenix offers real estate transaction and property management services.  For more information on our services contact us at 602-281-2884 or visit our full website at rpmwvphx.com

Wednesday, 14 September 2016

The New Look of Tenant Screening for your Phoenix Rental Property


According to Real Property Management West Valley Phoenix, tenant screening for Phoenix is about to take on a whole new look. Whether you think of screening as a tool to protect yourself and your investment or as a dreaded part of being a property manager, it is absolutely critical for your success and safety.

Since background checks are performed for protection, there are several key factors your screening should include:
      Income (after taxes) is 3X the monthly rent
      Credit is clear of collections and evictions
      Positive references from past landlords
      Verifiable employment history
      Criminal history is checked

Even as a Do-it-yourself landlord, it is important to establish clear rules for who you will and will not accept and stick to them. Tenants with a rough past often avoid renting from property management companies because of the stricter guidelines for qualification, however, if you are going to be completely fair (and lawful) in your requirements and avoid complaints, you must treat everyone equally by asking the same questions and not bending the rules for one person and not others. Phoenix investment property owners need to remember: it’s not personal, it’s business.

The next time you screen a tenant and are wondering about the screening process, remember that you are allowed to reject tenants with: bad credit history, insufficient income to meet the rent demands, previous damage to other units, consistent late rent payments,  poor job history. You cannot, however, reject an application for discriminatory reasons including: race, religion, nationality, gender, age, disability status, and/or familial status. Acting as a businessman instead of an emotional one will leave you with a better reputation as a Phoenix investment property owner.

The key to successful property management is consistency. Consistency in who you rent to, what questions you ask, and the screening process you put each tenant through will allow you to avoid possible lawsuits and Fair Housing Act laws.

RPMWV Phx offers full service Phoenix property management.  For additional information please contact us at 602-218-2884 or visit rpmwvphx.com



Thursday, 8 September 2016

Phoenix Property Management Does come with an Instruction Manual

 

Throughout our 25 years of Phoenix property management, we have witnessed far too many hardworking families fail at the real estate investing game. We have watched as they consider investing as part of their retirement plans, find the perfect homes at the perfect times and perfect prices, make the offers, and never even stop to consider the fact that real estate investing is a JOB. And it’s not an easy one. They do not factor in the time they will spend at their properties, preparing them for tenants, showing,  leasing, responding to maintenance calls at all hours of the day (or night), dealing with tenants who don’t care for their properties, inspecting the land and homes to be proactive about maintenance, and possibly even dealing with evictions. When you factor all of those aspects into the purchase, it may seem like a daunting task to be an investor, and may cause you to question why people even do it in the first place.


Enter the Instruction Manual
With the right team and council behind you, Phoenix property management does not need to be an overwhelming burden. As the leading property management company in Phoenix we know what it takes to be successful. We have witnessed, far too many times, when people bite off more than they can chew in this industry, but we have also been present for success stories. In fact, we wrote the book on successful property management…literally.
If you are considering taking the leap into the world of rental property investment, don’t.  At least not right away, Instead, make sure that you are properly educated and have thought everything through - that’s the best way to be successful.