No matter how much trust you have in a tenant you have to plan for the worst just in case they do damage your property. If the tenant does cause damage to your rental then the first thing you want to do is get the rental back into renting shape again so that you can get more tenants in there. As long as those damages are there you won’t be able to get new tenants in, and each day without tenants you could be losing money.
If there are damages that you must repair then that is exactly what you can use that tenants security deposit for. Apply the security deposit towards the repairs and that should help you to cover the expenses. If the damage is really severe you can potentially getting judgments, filing complains, and collecting on judgments.
The first and best thing you can do to ensure that you have quality tenants is to perform a thorough screening. With an applicant screening the purpose is to check the potential tenants rental history, credit history, criminal background, and verify their current employment. Being able to look at their past renting experiences and see whether or not they were truthful in their application is very important.
While you can never be 100% positive that your tenants will treat your property well, a tenant screening will help to narrow the chances of someone damaging your rental unit. Another thing that you will want to be on top of is creating a lease agreement that clearly states all of the house rules and expectations, and then explains that they will be strictly enforced.
Professional Help Managing Your Rental
If you have more questions about lease agreements or applicant screening services you should contact an experienced property management agency. At Real Property Management East Valley we have over 20 years experience in full-service property management. Our goal is to help our clients get return on investment and take the stress out of renting their property.
For help with Chandler property management, or property management for any other Arizona city, call RPM East Valley today. (480) 719-1243
Over the last 10 years the number of people renting in Arizona has increased by over 30%, which means that now is the perfect time start renting out your spare property. A lot of people may be excited by the thought of renting out a property and making some extra income every month, but most don’t exactly know how to manage a rental property.
Before you jump into the property management scene you want to make sure that you have enough time to handle all of the responsibilities that come with being a property manager. What most people find out after a few days of managing their property, is that they are overwhelmed with how much time and effort goes into making sure everything goes according to plan.
Where to Start?
The first thing you need to consider with property management is whether or not you’ll have enough time to take care of all the responsibilities. You should know that managing a property on top of a full-time job is too much for most people. While you may have a couple days or weeks without any problems, when something does go wrong you’ll be the person to fix it. Imagine getting an emergency phone call from your tenants at 3 in the morning and you have to go fix it. Then once you take care of that problem you’re back to your normal work again once 8 o’clock rolls around.
So your first major decision is whether or not you have the time to take care of everything yourself. If you don’t have the time to handle the responsibilities yourself then you should consider hiring a property management agency. A full-service property management agency will provide turnkey services so that you can sit back and relax while they do all the work.
What are All the Responsibilities?
The responsibilities of a property manager include, but are not limited to: Providing the necessary paperwork, showing the property to potential tenants, screening applicants, accounting and bookkeeping, collect rent, deal with late and no payment situations, maintain the property, perform periodic inspections, handle emergency repairs, as well as being responsible for the accounting.
While these are some of the common responsibilities of property managers it should be noted that every property is unique and may require special care. If you are interested in Chandler property management or full-service property management for any other East Valley cities then RPM East Valley can help you. At Real Property Management East valley we have over 20 years experience handling properties throughout the valley. We work hard so that our clients don’t have to because we believe that they have better things to do with their time.
Call RPM East Valley today for more information! (480) 719-1243
It’s no secret that the real estate market has seen some big hits over the past few years. Studies show that from 2000-2010 the number of rental properties has increased 30% which makes owning a rental a great investment. If you have a spare property that you are wanting to rent, you want to make sure that you get the most return on your investment. Before you slap a “for rent” sign up in the window you will want to make sure that you do your homework and understand what is involved in becoming a property manager or landlord.
In order to get the most out of your rental investment you want to make sure that you consider some quality advertising for the property as well as thorough tenant screening. With good advertising you’ll get more potential tenants and the applicant screening will help you narrow down your choices to only those who pass your standards. It is important to be very selective when you choose tenants because unfortunately some tenants will avoid paying rent and may even cause damage to your property. Spending time and money choosing the right tenant(s) will pay off in the long run.
Where Can I Get Tenant Screening Services?
One of the easiest ways to have your applicants screened is through a property management company. Here at Real Property Management East Valley we provide very thorough applicant screening services where we look at criminal background, credit history, rental history, and current employment. This report is used to help our clients (the property owners) make informed decisions as to who they want staying in their property.
Advertising for a rental property may be different than other types of advertising that you may have done in the past. RPM East Valley offers advertising services to all our clients to make sure that they get the most exposure for the their property. We have over 20 years experience working throughout all of Arizona and know how to fill your property with quality tenants fast!
What Other Services Do Property Management Services Provide?
At RPM East Valley the term full-service or turnkey property management means that we take care of all the hard work so that you don’t have to. We believe that our clients have better things to do with their time than answer emergency repair phone calls, perform inspections, handle bookkeeping and accounting, take care of late notices, and collect rent. We understand that every property is unique which is why tailor our services to each and every client.
To learn more about Chandler property management or property management for any other East Valley city, contact RPM East Valley. (480) 719-1243
Tenant placement, or filling your rental with tenants is perhaps one of, if not the most important things you can do to ensure that you have a smooth rental process. Ask anyone who has ever had a less than mediocre tenant and they will tell you how difficult it is to have a situation like that. The biggest reason why tenant placement is so important is because your rental property is an investment and you want it to succeed.
As you advertise your property and look to fill it with new tenants you want to be aware of the potential problems that can arise. Unfortunately many applicants will be untruthful on their applications. Your job will be to verify their current employment, examine their rental history, and even check the credit history. These are important things to verify before you allow someone to live in your rental. You want to reduce the chances of getting someone who never pays rent on time, maybe doesn’t even have a job, and could even damage your unit.
How Can I Verify Someones Employment?
There are a couple ways to go about verifying employment and checking rental history. The first is to purchase tenant screening software. The software will allow you to perform the check yourself, but it can be pricey, and there is a learning curve with the program. The second is to hire a property management agency. Property management companies usually offer applicant screening as one of their many services and it is very thorough.
You can have your applicants go through the management companies screening services, then get a full report so that you can make an educated decision about who you allow to rent your property. While there is no guarantee that a clean history report will mean a quality tenant, it does provide peace of mind.
Take Advantage of the Market
The economy may be slowly recovering but people are still having a hard time buying homes. Most people have decided to continue renting until things can straighten out a bit more. This is great news for property owners and means that because of the competition you now have a chance to rent your property for more money, and fill it with tenants quicker.
To learn more about how an experienced Chandler Property Manager can help you to fill your rental with quality tenants, contact Real Property Management East Valley. At RPM East Valley we have over 23 years experience managing properties throughout all of Arizona and we know that we can help you make your rental investment a success. (480) 719-1243
If you own and manage your own rental property then you realize how much work goes into maintenance and tenant satisfaction. One of the things that may worry you however is that the tenant will not take good care of your property which could result in a lot of time and money in repairs for you.
One of the best ways to reduce or prevent the amount of damage that is done to your property is by performing periodic inspections. If you’re wanting to do periodic inspections then you need to make sure that you tell your tenants in advance. It’s good to provide a statement in your lease agreement that you will be inspecting the property to make sure that all house rules are being maintained.
What If I Don’t Have the Time to Inspect My Properties?
From the outside it may seem like there isn’t much involved with renting a property but in all reality there is a lot of work that goes into it. If you don’t have the time to perform inspections yourself but still want to know what kind of shape the property is in, you should consider hiring a property manager.
An experienced property management agency can help you to handle the tasks that you don’t have time for yourself. As a property manager you have to be on call 24/7 in case of an emergency. If you enjoy your sleep, and don’t want to deal with the hassle of responding to an emergency call if one was to come in, then a property management agency can also help you.
At Real Property Management East Valley we offer full-service, turnkey property management because we believe that you have better things to do with your time. We can build a custom property management plan to meet all of your needs. At RPM East Valley we have over 20 years experience in managing properties in Chandler, Tempe, Gilbert, Mesa, Queen Creek and many other East Valley Cities.
For a free quote today on services from RPM East Valley to help prevent property damage, call (480) 719-1243