Property Management Companies Ahwatukee Arizona

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Are you a rental property owner in or near Ahwatukee Arizona? Ask yourself, is your existing property management company charging you too much?

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Welcome to RentVest PM’s website if you have been searching for a flat fee investment property management firm in Ahwatukee Arizona you have found the right website. If you’ve had a bad experience with any of the many property management companies in Ahwatukee Arizona we would like the opportunity to show you how RentVest Property Management can put those worries aside.

Exactly what do property managers in Ahwatukee Arizona do? Do you know what Property Managers do? The simple truth is they look after a variety of assignments, with one of the main things being collecting rent. Collecting rent could be a demanding assignment for many propery owners. The more tenants they may have to manage, the more of a challenge it is to keep on top of collecting rent, however property managers manage the entire rent collection process.

In addition they deal with maintenance issues. By way of example, they may send a repair person to take care of standard maintenance or arrange for repairs services if they are asked for. All you need to do is approve of payments or pre-approve payments beforehand, doing this the manager of the property won’t have to call you each time maintenance is required.

Locating prospective tenants who can pay their rent by the due date is yet another thing property managers do. They can do credit report checks, take interviews and perform a indept background check. They are fully aware of things to search for when it comes to choosing renters.

Accounting is typically included in the services provided by property managers. They can keep correct files, which come in handy when taxes are concerned. Accounting is not really an enjoyable assignment, but it must be done and it must to be done right, which is one of the reasons property owners should use property managers.

Getting a Property Management Company in Ahwatukee Arizona.

Getting a property management person will cost you money, however it could help you save lots of time. When you have properties that you own and rent out to clients, be they businesses or residents, then there are many things to care for. If it’s only 1 or 2 units, perhaps you might remain on top of everything, but if you have more, things will get complicated rather quickly, and property management could turn into a full-time job, which is that thing you have been seeking to evade or currently have.

A property management company is the middle person between both you and your tenents, dealing with calls with tenants, repair requests, yard work, and also interviewing and kicking out tenants as need be. In exchange, the house management company receives a percentage of the rent for their services, before depositing the balance to the owner account.

As a property owner, your profit margin decreases, however your schedule becomes completely free. Also, worthy property management companies are well worth the money considering how they can do away with bad renters that cost you money, make your properties in great condition, and discover stable renters that lessen your vacancy rates and provide you with steady and reliable rental income.

RentVest domination more than 12 markets as taking many other property management companies in Ahwatukee Arizona off guard. The reality is that Ahwatukee Arizona rental property owners had been looking for a reliable property management agency in Ahwatukee Arizona for some time now but it looks like that no one was listening. RentVest is the firm of chores for many rental property owners throughout Ahwatukee Arizona and we would like the opportunity to show you how we can improve the ROI of your real estate investment property. Those looking for additional info about RentVest Property Management we encourage you to check out our blog.

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Time-Saving Tactics Efficient Real Estate Management Companies Employ

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Real estate management companies and landlords understand the value of efficiency when it comes to effectively supervising rental properties. In fact, efficiency is critical. Below are five time-saving strategies every property manager and landlord should know:

Adopt Effective Real Estate Management Strategies to Reduce Tenant Turnover

Filling vacancies with new tenants is one of a property manager’s most time-consuming tasks. The key is to focus on reducing vacancies and retaining good tenants by providing services and resources that encourage tenants to stay.

Setting extended lease agreements is a common practice property managers use to reduce tenant turnover. Maintaining consistent rent rates is another tactic to avoid vacancies. Some might argue that without rent increases you can’t increase earnings but the opposite is true. Maintaining a lower rent rate can actually save the property owner money.

For example:

You decide to raise the current monthly rent price of $1,000 by $100, that leaves you sitting on a vacant apartment for at least one month. An attempt to earn just $1,200 more in a year will cost you $1,000. Plus there will be additional fees to cover—cleaning costs for the vacated apartment, listing fees, and the expense of tracking the whole process. It’s not worth the expense involved.

However, keeping your rent price low isn’t always the best strategy. Depending on your rental property’s location, if rents in your market are surging (15 percent increases or more year over year), without increasing your rent price accordingly, you could lose quite a bit of money.

Real estate management companies with rentals in small towns or cities that aren’t experiencing a lot of growth are wise to keep rent rates where they are. Tenants will appreciate the steady rate and stay, sparing property managers and landlords the bother and expense of filling new vacancies.

One way to mitigate the turnover that results from rent increases is to structure small rent increases into lease agreements—$20 – $50 each year. Your tenants are likely to consider the increase small enough to manage and are unlikely to move out.

Thoroughly Vet Applicants before Approving a New Tenant

While it’s a time-consuming task, when done right thoroughly screening applicants before the lease is signed will save you time, money, and potential headaches in the long run. The goal is to screen applicants exhaustively to find tenants most likely to stay in your rental long-term. Good, potential long-term tenants will demonstrate a good credit rating, verified employment and salary, a clean rental history for paying on time, no previous evictions, references, and a clean background check.

Take the time to contact their previous landlords to find out more about the tenant’s conduct during previous tenancies, and the condition in which they left the rental upon vacating.  Finding reliable long-term tenants should be the goal, which means cutting no corners in the screening process in order to maximize efficiency, avoid problems down the road, and ensure a successful, long-term tenancy with you.

Set Up an Online Rent Payment System

If you’re still accepting paper checks for monthly rent payments, establishing an online payment system is a much more efficient and time-saving process for rent collection. Requiring tenants to pay their monthly rent online eliminates the risks of mail delays or bounced checks. An online rent payment system also allows you to automatically send out payment reminders to all tenants a few days before rent payments are due.

If you’ve put off setting up an online payment system to avoid the associated fees, consider how much time and money it costs you to deal with checks delayed or lost in the mail and checks returned for insufficient funds. Plus, there’s the value of your time or your management team’s time spent keeping track of check payments, recording them, and depositing them.

Online payment systems automatically deposit and record rent payments directly and immediately to the property owner’s bank account, eliminating the risk of human error or theft. Additionally, a majority of tenants today prefer and expect the convenience of an online rent payment option, making it an important selling point for potential tenants.

Regularly Scheduled Property Inspections

Scheduling regular property inspections may seem like a momentary inconvenience, but they’re vital to efficient property management in the long run. Regular inspections are crucial to preventing small problems from becoming much bigger costly and time-consuming catastrophes.

Routine property inspections are designed to identify and correct problems such as small, hidden water leaks before they have time to cause structural damage, collapse ceilings, cause flooding, or create an environment favorable to the growth of toxic black mold. These inspections cover a range of preventative structural and systems checks, such as making sure the building’s HVAC system is running properly and operating at maximum energy efficiency.

Think of routine property inspections as investments in long-term efficiency and security to keep the property owner’s investment in excellent condition for years to come.

Answer Every Possible Question Potential Tenants May Have When Writing the Online Listing

When creating your online listings, include as much information as possible about the rental unit. This will save you’re an extraordinary amount of time you’d be wasting tied to the phone answering heaps of questions from inquiring renters.

In addition, apartment seekers can learn all they need to know about whether your apartment is a good fit based on the listing’s detailed information before you’re stuck fielding calls from apartment seekers with questions that only confirm it’s not a good fit.

What detailed information should you include in your online listing? Here are just a few important details to start with:

  • Number of bedrooms/bathrooms
  • Amenities
  • Amenity upgrades
  • Washer/dryer and hookups
  • Number of units available
  • Preferred move in date
  • Lease term preferred or required
  • Location features
  • Images of the property and apartment
  • Parking options
  • Pet-friendly or not

Pool and outdoor features

Install Hardwood Floors Instead of Carpeting

Carpets may be less expensive at initial investment, but it becomes a colossal time and money waster for property managers who must deep clean or replace it each time a new tenant is preparing to move in. Most people prefer hardwood floors, which are a big selling point when it comes to attracting tenants.

While hardwood does require some maintenance, it’s less expensive to maintain hardwood than replace carpeting every few years. Additionally, hardwood floors will increase the value of the apartment—many renters are willing to pay more for an apartment with hardwood floors. From an efficiency standpoint, hardwood is a much better choice than carpeting.

By following these efficiency guidelines, real estate management companies and landlords can escape a host of preventable time sinks and expenses caused by ineffective processes that can be easily fixed. Plan ahead, stay organized and challenge yourself to address other inefficiencies as they arise and nip them in the bud. Efficiency is an integral part of every successful property management team, landlord and profitable rental income property.

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