Property Management Company in Vail Arizona

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When you are seeking a Property Management Companies in Salem, Oregon anybody with any knowledge of managing real estate investment properties will more than likely tell you to contact RentVest. Unlike others, we are a full-service property management firm surfing over a dozen markets, including Atlanta, Dallas, Denver, Hawaii, Houston, Las Vegas, Phoenix, Portland, Reno, San Antonio, Tampa, Tucson, Vancouver, Washington. If given the opportunity we would like to show you the reason why RentVestPM.Com is your best bet if you are looking for a dependable property management companies in Vail Arizona. It is true that A small number of investors that own real estate see the role of a property manager firm as an extra expands.

The ones that are successful at it comprehend the benefits to contracting a property manager in Vail Arizona. With that said, working with a property management agency is one of the best ways to efficiently supervise investment properties. In this post, we will discuss some of the benefits of hiring employing a property management agency.

  1. Capacity To Save Your Time Probably the most substantial benefits that you are able to enjoy when you make the decision to get property management company is the ability to save time. Overseeing properties will take lots of time from the day. By hiring a company or agency to deal with it in your stead, it will help you to save considerable time which you wouldn’t normally be able to. This time-managing chance will help you focus on other stuff including your personal life, business, or other investment projects.
  2. Less Empty Units An additional benefit it will be easy to get from working with an manager to deal with your property is the ability to manage fewer vacancies. The job of a management company is to get your unit(s) rented. Therefore, they should be far better able to keep your apartment rented so you earn rental income. Whereas, if you decided to manage the rental on your own, you might end up having to deal with a lot of discrepancies with your rental and it could be much more difficult to keep them earning you rental income. Any time that you spend not renting your property out you will eventually lose money on opportunity cost.
  3. They Take Care Of All The Legwork – One more major benefit that you will get when you employ a property management company is the opportunity to have someone who will be fully willing and able to manage all of the legwork linked to getting your property rented and getting paid. They will even have the ability to handle and deal with anything from evictions to the maintenance of your dwelling. Having a agency handle everything for your property, full-service really can turn the investment into a hands-off investment which can get you continual income.

Overall, hiring a management agency to assist in your premises investments is one of the best decisions you may make. There are numerous advantages of employing a property management company that makes it definitely worth the investment. When it’s all said and done the reason you are searching for a property manager companies in Vail Arizona is more than likely because you have probably realize that finding a reliable property management agent is ideal for you. If you are new to rental property management, we ask that you check out at our blog. But please, note that if you still have questions drop us a line, the property management team at RentVestPM.Com is here to help

Best Property Management Service Reviews in Vail Arizona

Cecil Ash
Cecil Ash

5 out of 5 stars

posted 3 months ago

RentVest has provided me with worry-free management. The tenants have always been excellent tenants. The money comes in on time, and I don't ever have to worry about what's happening with my property.

Stephanie Ulibarri
Stephanie Ulibarri

5 out of 5 stars

posted 3 months ago

Working with RentVest has been rewarding. Synthia was a great help. She guild me through the whole process. I was in need of a place to rent she help take the stress I was feeling away. I am thankful for all your help.

Erica White
Erica White

1 out of 5 stars

posted 2 months ago

This company should be ashamed of themselves. Our realtor tried to work with them, but they literally ghosted us. If you’re working with Harry, beware! We were trying to close on a property and he stopped responding to our agent. Application submitted, approved, and then... radio silence. Seriously. This is the most unprofessional company I have ever dealt with. Harry should be fired.

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How Real Estate Management Companies, Property Managers and Landlords Can Increase Rent Prices With Minimal Tenant Loss

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Notifying tenants of an increase in the monthly rent price for your rental properties is usually a touchy matter, especially since a rent increase can create vacancies that will need to be marked and filled when tenants choose to move rather than pay a higher rent monthly rent. Your rental unit pricing is a big real estate management decision. It is also a crucial factor on whether or not tenants decide to move or stay, so it’s important to tread cautiously when it comes to rent increases.

You want to offer your rental units at the fair market price, but you also want to retain the reliable tenants you have and avoid vacancies. Experience has taught us that renewing leases with great residents who’ve proven themselves to be reliable and conscientious is usually more valuable than a rent increase.

Still, you may decide that a rent increase is necessary to cover rising costs and maintain profitability. In that case, you’ll need to decide how much the increase should be, which is typically between 3-5 percent. When notifying tenants in advance, you’ll want to write a cordial rent increase letter to your residents. Keep the tone warm and include a brief explanation for the increase. Here are some examples:

• Increased costs of maintenance supplies and services needed to maintain the community’s safety and security standards, clean, inviting common areas, and landscaping and green spaces.

Other valid explanations for rent increases:

• Cost of living increases
• Bring the rent up to market value
• Property improvement costs
• Property tax hikes
• Increased utility costs
• Increased insurance premiums

Rent Increase Guidelines for Real Estate Management Companies

Every state has specific laws for rent increases by which you much abide. If you offer rent -controlled housing, your options to increase rent are much more restricted.

Some of the regulations to review in your state, county or city laws for raising rent include:

  • Rules for rent-controlled housing
  • Frequency of rent increases
  • Language requirements in your lease regarding rent increases during the term of the lease
  • Maximum limit for rent increases
  • Number of days’ notice you must provide before rent increase begins

It’s important to do your homework and make sure you understand what property managers and landlords can and can’t do when deciding to raise rent prices.  Generally, unless the lease specifies otherwise, you cannot raise rent prices before the lease expires. Real estate management companies, property managers, and landlords must also deliver a written notice of a rent increase, usually a minimum of 30 days before the increase takes effect.

In many states, unless the apartment is rent-stabilized, you can increase rent by any amount you choose—there is no limit— but you risk losing good, reliable tenants if your price hike doesn’t represent fair market value or seems unreasonable. A growing number of states are moving toward enacting rent increase limits on behalf of tenants.

Writing and sending rent increase letter that is amenable to tenants

Communication is key. A rent increase letter complies with rules for informing tenants and officially documenting it. Your rent increase letter should be pertinent, professional, and written in a polite, approachable tone. You can search for rent increase letter sample templates to use as guidelines.

When writing your rent increase notice letter, personalize it to your community’s unique identity, bearing in mind that money is a sensitive issue, communicating with tenants on a personal level helps remind them that you value them as people. This is your best approach for encouraging them to stay, despite the rent increase. Great tenants appreciate great landlords too, and a great landlord is one who makes his or her tenants feel valued.

When writing the rent increase letter’s greeting, use the tenant’s name, rather than “dear tenant.” Also, use “Change in Rent Notice” in the subject line instead of “Rent Increase Notice,” since the former doesn’t immediately elicit a defensive reaction from residents. In the letter, make it clear that tenants can contact you with questions and provide your email address and phone number. Make sure to thank them for being a valued tenant. Sign off with a personable closing phrase such as “sincerely,” “Best Regards,” or “Many thanks.”

Important information you must include in your rent increase letter:

  • Tenant’s name
  • Property address
  • Property manager or landlord’s name and contact information
  • Date the letter is written
  • Date the rent increase will take effect
  • Amount of rent increase
  • Current rent price
  • Rent price after increase takes effect

You can also structure the letter like a contract and insert a form at the bottom for the tenant to complete, sign and return. Wording on the form should read:

  • I agree to accept the new monthly rent price, effective XX-XX-XXXX date. (If selected, you can the tenant send a lease renewal letter.)
  • I do not agree to accept the new monthly rent price and will vacate by XX-XX-XXXX date according to the lease agreement.

To send the rent increase notice letters you can either hand-deliver them to tenants or mail them individually via certified class mail with a return receipt. Don’t email these notices, as you need to ensure the tenant acknowledges that they received the letter to prevent potential confusion or legal issues later. Follow up with tenants via email or regular USPS mail. Email is the most efficient follow-up method.

Make it as simple as possible

Coordinating rent increases, facilitating communication, and managing potential tenant turnover can be complex touchy. A good real estate management company is well-equipped to handle this task—they keep up-to-date on market prices, are well-versed in writing rent increase letters and lease renewals, working (and negotiating) with residents, and handling turnover.

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