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Property Manager vs. Real Estate Agent

Some people are curious about the difference between a property manager and a real estate agent. Here is a short description of the types of things these professionals do:

Property Manager- A property manager works specifically with rental properties. Whether they are single family homes, condos, apartments, or duplexes, a property manager can work to rent the unit out and help make a profit for the property’s owner. A property manager is responsible for things like creating a lease agreement for tenants to sign, repairing damages to the home, etc.

A property manager will also be in charge of advertising the property to try and attract quality tenants so that the home is never empty and always making money. Being a property manager can take a lot of work and most people who own properties will hire companies to take care of the work because they don’t have time to handle things themselves.

Real Estate Agent- A real estate agent is someone who helps sell houses. They will work with potential buyers and help them find listings that meet all of their criteria. Once the buyers find a home that they want to purchase the real estate agent with help them to make an offer on the house and navigate the entire buying process.

There is a lot of difficult paperwork to handle when it comes to buying a home and there are a lot of hoops to jump through. Having a real estate agent work with you can make the entire process much easier.

For more information on property management services contact RPM East Valley today. (480) 719-1243

How to Tell your Tenants it’s Time to Go

As a property manager you have to take care of a long list of responsibilities. It is your job to make sure that the property you are managing stays in tip top shape and that it is profitable for the owner. If you are the owner then you will understand more than anyone else how important it is to always make money off your rental. One of the things that you’ll be faced with from time to time as a property manager is telling your tenants that it is time to leave.

Here are 3 tips to make the process go smoothly:

  1. Verbal Warning- Before you go crazy and throw your tenants out on the street you need to be up front with them and talk to them. Speak with them face to face and explain to them the difficult situation you are in. Let them know the deadline for paying rent and that you will have to evict them if they can’t make this deadline.
  2. Professional Process Server- If your tenants have not met the terms of their lease agreement and you have already given them a verbal warning then it is time for a professional process server to step in. Having them serve an eviction notice so that the eviction process is legal.
  3. Stay Stern- No matter what you need to stay firm on your word and not fold even if your tenants beg you. If you allow them to stay in your rental property without paying they will just keep taking advantage of you. Owning a rental property is a business and if businesses don’t make money, they fail.

If you are uncomfortable handling the eviction process yourself then you can always hire a property management agency to take care of things for you.

Tips for Maintaining a Vacation Home

For most people, the opportunity to own a vacation home is like a dream come true. You’ll have the freedom to visit this home whenever you please and you can use it as an escape from the stresses of normal life. One of the benefits of visiting the same vacation home every year is that you become familiar with the area. Part of the trouble with travel is that you often go to places that you don’t know very well. You can waste extra time learning how to get around and making sure that you don’t get lost. If you have your own vacation home you can start to learn the streets, get to know your neighbors, and ultimately spend more time having fun.

While there are plenty of great things to love about having a vacation there are certainly a few responsibilities that come with them as well. Here are 3 tips for helping you to maintain your beautiful vacation home:

  1. Hire a Property Manager- When you are away at your regular home worrying about work and the everyday stress, the last thing you’ll want is to have to worry about maintaining your property. Hiring a property manager can really cut back on the amount of work you have to do when you do visit. A good property management company can help to keep the landscaping around your property well-trimmed and also keep the interior up to date.
  2. Limit the Number of Days you Rent It- Most people like to rent out their vacation home when they are away to help pay for some of the costs of ownership. If you are having trouble keeping everything in shape, however, you may want to limit the number of days that you have it available for rent.
  3. Screen Tenants- Before you hand over the keys of your precious vacation home to a stranger, you should make sure that they meet your standards. You can have a company perform a tenant screening to make sure that they have a good rental background. It is important to know that the people who will be staying in your rental are the type of people who will take good care of it. By being more selective in who you let stay there, you can help to preserve the quality of it.

Ultimately, owning a vacation home is a wonderful privilege that most people don’t ever get to experience. If are lucky enough to own a second property then you need to make sure that you don’t take it for granted. Use it as much as possible and really take advantage of the wonderful chance that you have to vacation frequently.