Property Management Companies Buckeye Arizona

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

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Welcome to RentVest Property Management’s website if you are searching for a flat rate rental property management agency in Buckeye Arizona you have found the right site. The number of property management companies in Buckeye Arizona is quite substantial. Nevertheless, whether you’ve had a positive or negative experience RentVest PM would like to show you how we make owning a rental property easy.

Exactly what do property managers in Buckeye Arizona do? Are you aware what Property Managers do? The fact is they fulfill many duties, with the main one being rent collection. rent collection is a demanding assignment for most landlords. The better tenants they have got to look after, the more of a challenge it is to stay on top of collecting rent, however property managers see about the whole rent collecting process.

They also handle maintenance issues. For example, they may send a maintenance guy to do standard maintenance or provide maintenance services if they are asked for. All you need to do is approve of payments or pre-approve payments ahead of time, this way the property manager won’t have to contact you each time repairs is needed.

Finding prospective tenants that will pay their rent punctually is another thing property managers take care of. They may run credit checks, conduct interviews and execute a complete background check. They are aware of what to look for when it comes to choosing renters.

Accounting is normally included with the help supplied by property managers. They can maintain accurate files, which is useful when it is tax time. Bookkeeping is not really a fun task, but it must be done and it should to be done correctly, which is the major reasons property investors propably hire property managers.

Getting a Property Management Company in Buckeye Arizona.

Hiring a property management firm will cost you money, but it can help you save a lot of time. When you have real estate that you own and rent to tenants, whether they are commercial or residential, then you have many things to care for. If it’s only 1 or 2 units, maybe you can stay on top of all of it, however when you own more than that, things will get difficult rather quickly, and having a property manager would be a full-time job, which is what you have been trying to evade or currently have.

A real estate management company is the go between for you and the renters, handling calls with tenants, repair requests, yard work, and in many cases locating and turning away tenants when required. In exchange, the property management firm gets paid a portion of the rent for themselves, before giving the balance to you.

As a property owner, your profit margin drops, but your schedule is freed up. Also, the best property management services are well worth the money considering how they may eliminate bad renters that set you back money, keep the properties in great condition, and find stable renters that decrease your vacancy rates and provide you with reliable and steady rental income.

RentVest Property Management growth as taking many other property management companies in Buckeye Arizona by surprise. The reality is that Buckeye Arizona real estate investors had been asking for a dependable property management agency in Buckeye Arizona for a while but that they were not listening. RentVest PM is the firm of chores for many investment property owners throughout Buckeye Arizona and we would like the opportunity to show you how we make owning rental real estate easy. Those looking for additional information on the services we offer at RentVest Property Management please stopped by our blog!

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Tips for Property Management Companies (Individuals) to Lower Operating Costs

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In a recent survey on challenges property management companies grapple with, 45 percent of respondents said that “lowering operating costs” is “challenging” or “very challenging.” Reducing operating costs is a universal quest among businesses of all types, especially property management cost. Maximizing income is de rigueur among owners and managers alike.

That said, finding ways to lower operating costs is usually the dilemma, especially in today’s ever-changing world of property management. According to real estate experts at CCIM, multifamily properties run at expense ratios of about 45 percent. Therefore maintenance, taxes, and payroll account for about half of all expenses. Let’s look at cost-saving possibilities in each of these departments.

How Property Management Companies Lower Expenses

Maintenance:
Implementing the following changes can add up to cost-savings more quickly than you’d think.

Replace standard light bulbs with LED lights. Replacing a 60-watt bulb with a 14-watt CFL or LED will save about $0.66 per bulb, per month.

Utilize timers to turn off power in public areas at specific times of day and night, when foot traffic is low or not present.

Lower water heater temperatures. Water heaters consume a major amount of energy, accounting for approximately 14 percent of energy costs.

Weatherproof windows and doors or make sure they are tightly sealed. Loss of cool air in summer months and loss of warm air in winter months can hike the cost of utility bills considerably.

Verify and eliminate unused services. Check to see if you’re paying for services you are not using, such as old phone lines, cable plans, Audit all of your services to see what can be eliminated and where you can save.

Payroll:
Ideally, controlling payroll costs shouldn’t involve layoffs or pay cuts if at all possible.

Outsource: enlist a service to manage tenant calls and other administrative tasks. This solution can be an effective cost-saver for after hours and during peak times.

Automate: Are your administrative tasks as automated as they could be? Automation is another way to find substantial cost savings.

Cut payroll taxes without cutting payroll. Make the most of your current team by cross-training employees on various tasks.

Examine and fine tune your time and attendance management protocols.

Reduce employee turnover. Studies find that every time a business replaces a salaried employee, it costs six to nine months’ salary on average. For a property manager making $40,000 a year, that’s $20,000 to $30,000 in recruiting and training expenses. Review your company culture and policies to find ways to attract and keep valuable talent.

Taxes:
If you don’t already, enlist a professional tax expert for advice regarding what options for tax savings are available to your property management company. The expense of a tax advisor could be well worth the price when a professional tax advisor saves you substantial dollars in exemptions and other industry-specific strategies of which you may not even be aware.

What cost-saving measures have you put in place that have reduced your property management expenses? Leave us a comment!

Property management companies like RentVest offer customer-centric property management services to property owners all across the U.S. Learn more about RentVest’s full service management benefits.

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