8 Warning Signs You Should Never Ignore During Tenant Screening
Tenant screening is a vital part of running a successful rental property business. After all, the rent your tenants pay each month is where your money comes from. If they don’t pay, you don’t get paid. Worse yet, if they damage your property, you could end up in a time-consuming legal battle trying to recoup your losses.
The process of tenant screening is a complex one that requires knowledge and experience. That’s why so many people opt to have rental property management in Phoenix handle it for them.
That said, even if you self-manage your Phoenix rental, you can screen tenants so long as you know the warning signs to look out for. You don’t want to lock yourself into a lease agreement with a problem tenant. But by learning the red flags of problematic tenants, you can prevent a lot of issues.
8 Red Flags of Problematic Tenants
1. Inconsistent Income
Checking a potential tenant’s ability to pay the monthly rent should be a priority for you. Again, if your tenants don’t pay, you don’t make any money.
Whenever you’re screening tenants, you should always verify employment and income. In fact, it’s best to place a tenant in your rental property that makes 2-3 times the monthly rent rate. This helps ensure that even if your tenant experiences a financial emergency their ability to pay rent won’t be affected.
You should also look for things like spotty employment, those ‘in between’ jobs, and people without solid employer references. All these warning signs indicate your tenant may have trouble paying the rent at some time during the lease term. The last thing you want on your hands is a tenant filing for bankruptcy and not paying the rent.
2. Prior Evictions
We all know things happen in life that we wish hadn’t. Sometimes they involve our personal relationships, our employment status, or even our finances. And while people do generally deserve second chances, one thing you should always avoid is leasing to a tenant that has had a prior eviction.
Taking a risk on a potential tenant that at some point has breached a lease agreement to the point they were evicted is not something you should do. Other people without prior evictions on their records are more than willing to lease from you. This is especially true if you have reliable property management in Phoenix helping you market your vacancy.
3. Not All People Agree to Apply
All people over the age of 18 that will be living in your rental property must apply. This applies to families and roommates.
If an adult that will be living with the primary tenant refuses to apply, you should consider that a major red flag. After all, those with nothing to hide submit to things like background and credit checks.
It’s true that all adult tenants living in your property will be responsible for paying the rent. But we’ve all heard about roommate situations gone bad because one person refuses to pay up. If you decide to lease to roommates, make sure everyone applies and signs the lease agreement to protect yourself and your property.
4. They Hassle You About Paying the Security Deposit
Rental property management in Phoenix will tell you to always collect a security deposit. It protects you from those times you missed the red flags and placed a problematic tenant in your property. And tenants know that if they leave your investment property in good condition, they’ll get their deposit back.
Anyone that hassles you about paying a security deposit either doesn’t have enough money or doesn’t plan to care for your property the way you’d like them to. Either way, you should move on to the next prospective tenant.
5. They Move a Lot
Sometimes people need to move more than they’d like to because of family or job situations. However, if you notice an applicant that has moved a lot, you should question their ability to stay in your property for the length of the lease term.
In addition, anyone that was previously living with a friend or relative can signal a problem. Of course, more millennials than ever are living with their parents until they are adults. But some people live with family or friends after an eviction because they can’t find anywhere else to live.
One way to navigate these two red flags is to simply talk to the potential tenant. Who knows, they may have a good explanation for their frequent moves or prior living situations. While the paper results you have during tenant screening are helpful, there’s something to be said about your gut instincts after a face-to-face conversation.
6. You Discover a Criminal Record
Whether a possible tenant has the money to pay the rent or not, one thing is true: a criminal past spells future trouble.
Besides running a credit check and verifying income and employment, you should always run a thorough background check on every applicant. Just because someone doesn’t admit to having a shady past on their application doesn’t mean it didn’t happen. And it’s your responsibility to do your due diligence if you want to avoid a problematic tenant.
Here are some of the worst convictions you should watch out for:
- Drug offenses
- Driving without a license or insurance
- Public disturbances
- Assault and battery
- Multiple traffic stops
- Burglary or theft
Just because someone made a mistake in the past doesn’t mean they’ll do it again. But it’s best to let another property owner find that out, not you.
7. They Wave Money at You in Hopes You’ll Bite
Everyone loves money. And the fact that a prospective tenant has plenty of money upfront might seem like a good problem to have. However, many people with things to hide or not enough money to last try to entice property owners with extra money upfront just to get into a place. Then, come the second or third month, you find out your tenant can’t pay the rent on time (if at all) and you have to start the eviction process.
Now, all that money you had in the beginning pales in comparison to the money you’re going to have to shell out to fix this bad situation.
If someone truly has the money to pay the rent each month, they’ll follow your tenant screening process with patience and wait for you to approve them. Then, much to your delight, they’ll pay the rent each month on time and everyone will be happy.
8. They’re Vague About Their Pets
According to the American Veterinary Association, nearly 50% of renters have pets. Of those that don’t, 35% claim that if their landlord allowed pets, they’d get one.
Needless to say, people love their furry friends.
If you’ve decided to have a flexible pet policy, that’s great! Catering to those with pets can be a great way to find high-quality tenants willing to pay a little extra to give Fido a place to sleep at night. But when you allow pets into your rental property, it’s likely you have some rules in place about:
- Types of pets allowed
- Number of pets allowed
- Non-refundable cleaning deposits per pet
- Required vaccination records
If the person you’re trying to place in your Phoenix rental property is vague about their pets, they either have too many and have lost count, are trying to dodge the deposits, or are hiding a type that’s not allowed. No matter the case, this is a huge red flag and you should move on with your tenant screening.
Are you interested in having rental property management in Phoenix handle tenant screening for you?
Screening Services Are Included with Our Rental Property Management in Phoenix
At Brewer & Stratton Property Management we know how important it is to properly screen all prospective tenants. We’ve seen what problematic tenants can do to a landlord and their investment property and strive to avoid situations like that at all costs thanks to our strict tenant screening process.
In fact, we’re so dedicated to placing nothing short of high-quality tenants in your property that we have a 12 Month Tenant Guarantee that says if a tenant leaves your property without good cause, we’ll cover the cost of placing a new tenant in your rental.
So, what do you say? Why not let us handle tenant screening so you can enjoy being a property owner without having to deal with the nitty gritty work like avoiding problematic tenants.
7 Important Responsibilities Property Managers in Phoenix Can Help Landlords With
Self-managing a Phoenix rental property is often a lot more work than owners expect. In fact, managing your rental may be so much work that you’ve considered looking into property managers in Phoenix.
If this is the case, it’s a good idea to find out exactly what a property manager handles first. After all, not all property management companies are the same. And while the monthly fees are worth it, you’ll want to make sure the company you choose offers the services you need.
So, let’s take a look at what property managers in Phoenix should do, so you can decide whether hiring one is the right choice for you.
Responsibilities of Property Managers in Phoenix
1. Advertising Your Vacancy
The last thing any Phoenix landlord wants is a vacant rental property. Without tenants occupying your rental, you’re unable to collect rent.
A high-quality property manager will market your available rental across many channels to attract potential tenants. For example, they’ll use their company website, the MLS listing, online rental ads, and even print ads if necessary.
Plus, a good property manager will be able to:
- Take high-resolution images of your property in all ads
- Provide prospective tenants with an easy way to get in touch
- Offer rental property showings to those with interest in leasing
- Place tenants in your rental property quickly
2. Tenant Management
One of the most important jobs property managers in Phoenix have involve tenants.
Here is what you should expect from your property manager when it comes to tenant management:
- Tenant Screening: It’s your property manager’s job to screen those that show interest in leasing from you. This process should include a background and credit check, employment and income verification, and references.
- Lease Drafting and Enforcement: Your property manager should draft a legally compliant lease agreement. It will include all the basics, such as how much the rent is each month. It will also include provisions such as your pet, smoking, and renovation policies. Your property manager should enforce rent collection and the provisions. They should also enforce the consequences for breaking the lease.
- Move-In and Move-Out Inspections: It’s crucial property managers inspect your rental property at the beginning and end of any tenancy. This is to check for damage to the property. It’s also to determine how much of the social security deposit will be returned to the tenant.
- Eviction Proceedings: Though no property owner hopes to evict a tenant, it happens. When your tenant doesn’t pay rent or breaches the lease, the property manager should handle the eviction proceedings including sending out the proper notices.
3. Rent Setting and Collection
One of the biggest problems self-managing property owners have is rent collection. It can be tough to chase down tenants and collect rent each month when you don’t have a proper process in place.
That’s where a property manager comes in handy.
To start, a reliable property manager will collect rent from tenants on time. They’ll also help you set the right rent rate so you maximize your ROI. After all, if you set the rent rate too low, you risk losing out on money. Yet if you set the rent rate too high, you risk extending your vacancy because people won’t want to pay.
If you want the best Phoenix property manager around, look for a company that offers a Free Rental Analysis. Knowing the market value of your property and the type of rental income you can expect is important. But more than that, knowing that your property manager cares about how successful you are will help you rest assured you’re in good hands.
4. Maintenance and Repairs
Another common problem self-managing property owners face is dealing with maintenance and repairs.
The last thing you want to deal with is after-hour calls from a tenant that needs something fixed. This is especially true if they’re having an emergency. Yet, you don’t want to let those things slide because you don’t want to deal with them.
That’s why you need a property manager to handle it for you.
The best property managers in Phoenix offer things like:
- After-hours emergency hotlines tenants can call
- Online maintenance and repair requests
- Licensed and insured contractors to perform maintenance and repairs
- 24/7 maintenance and repair crews to handle non-emergency issues
Lastly, your property manager should give your tenants a list of important contacts, so they know who to call if they need something.
5. Landlord-Tenant Laws
It’s good to know that property managers are responsible for staying up to date with all landlord-tenant laws.
You never know when a legal issue might arise between you and your tenant. There are legal processes for screening tenants, collecting social security deposits and rent, ending leases, evictions, and more. And it can be tough to keep up with all the changing federal, state, and local landlord-tenant laws. But for property managers in Phoenix, knowing the law is their job.
Property managers in Phoenix are responsible for maintaining proper documentation related to your investment property.
Here’s a brief list of all the records your property manager must have on hand at all times:
- Rent payment record and receipts
- Payments made on your behalf such as HOA fees or insurance premiums
- All financial statements, including a 1099 form
- Monthly income/expense reports
- Maintenance and repair requests, estimates, addendums, and invoices
- Annual tax information about your property
- Tenant applications and lease agreements
- Insurance policies of both property owner and tenant
7. Open Lines of Communication
Your property manager should be in communication with both you and your tenants.
Providing superior customer service to your tenants is one of the keys to lease renewals. But none of this does you any good if you have no clue what’s going on at your rental property.
Property managers serve as the point of contact for tenants whenever they have a question or concern. There should be many ways for tenants to get in touch with the property manager if the need arises. Property managers should also communicate with tenants about things like late rent payments, repair schedules, and routine property inspections.
In addition, your property manager should serve as your point of contact. For example, you’ll want to know about things like:
- Maintenance and repair issues
- Approved vendors
- Investment performance
- Tenant problems
- Income and expenses
- Legal issues related to the property
- And more
A good property manager will offer a phone number, email address, and even an online portal for both you and your tenant.
At Brewer & Stratton Property Management, we understand the work it takes to successfully lease a rental property. That’s why we strive to offer full-service property management services to those in the Phoenix area.
With 28-day vacancy turnarounds, direct deposit and rent collections, monthly and annual reporting, and eviction services, you can trust your investment property is being well-cared for. And thanks to our 24/7 maintenance and repair services, you’ll never have to take another late-night call from a tenant.
But more than that, if you use us for your property management needs, you’ll rest easy that you no longer have to deal with the long and tedious process of self-managing your rental property.
3 Proven Methods to Find Property Management Companies Near Me
Self-managing your Phoenix, AZ rental property can be stressful.
You’ll quickly find yourself fielding questions, handling repair requests, and hunting down rent from tenants. Plus, don’t forget all the paperwork that comes with owning a rental property.
But owning an investment property doesn’t have to wreak havoc on your sanity. In fact, if you hire the right property management company, you might like being a property owner.
That said, if you’re new to real estate investing, you might be asking yourself: Where can I find property management companies near me?
Well, don’t worry. We’re here today to show you how to find property management companies near you so that you can live a more stress-free life.
Finding Property Management Companies Near Me
Finding a property management company in Phoenix, AZ can be challenging. After all, there are so many to pick from.
And if you’re new to owning rental property, you might not know what to look for when choosing a property management company.
Luckily, we have some helpful tips for finding a reliable property manager nearby that will help you manage your rental for you.
1. Look Online
A great place to start when you’re wondering “Where can I find property management companies near me?” is the internet.
Start with a simple Google search to narrow down property management companies nearby.
From there, focus on the following:
- Look into reputable review sites like Yelp, Angie’s List, and Zillow. Read reviews about property management companies from past landlords and tenants. These reviews will range from negative to raving, so take care to note the specifics.
- Employee Testimonials. Websites like Glassdoor.com provide testimonials from employees for many companies. See if the property management company you’re interested in is listed there. Reading what people that actually work for the company are saying can help you decide whether the company is worth looking into or not.
Also, be sure to look at company websites too. After all, any property management company worth working with will have a website.
Here are some of the important things to look for:
- Contact information including an email, contact form, or phone number
- A list of services they provide and management fees (bonus: we offer 3 months of property management free)
- Any guarantees they provide property owners
- A tenant portal and property owner portal
- Locations they serve
- An introduction to the company and property managers
- A FAQ section to make things easier on you before you meet in-person and talk to them
- Testimonials from satisfied property owners (with specifics about why they’re happy)
You can tell a lot about how a company conducts business by their website. And it’s important you know as much information as possible before you consider hiring them.
Don’t make an uniformed decision and entrust your investment property to a company that doesn’t have what you need.
2. Get Referrals
The best recommendations come from people you know and trust. And companies know this.
Word of mouth is everything for a business, even a property management company near you.
That’s why asking people where to find property management companies nearby is so helpful. People you know and trust will tell you whether to use a company or not. They’ll tell you everything that’s good and bad about a business and won’t sugarcoat anything.
You can get referrals from many places. Look to others besides just your friends and family that have had experience with a certain Phoenix, AZ property manager.
For example, try asking these people for recommendations:
- Your real estate agent or investment partner
- Other landlords in the area that you’ve networked with at Meetup Groups or conferences
- Real estate professionals you work with such as your attorney or tax preparer
Referrals are a great way to get real opinions about a property management company.
But remember, people have their own perspectives and sometimes they can be wrong. Unless something seems wrong about a company, do you own research to make sure they really aren’t a fit for you before you rule them out.
3. Check Nearby Rentals
When all else fails, you can always check other rental properties that are being managed by a property management company near you.
For example, find local ads in the newspaper or online to see which properties are being advertised as vacant by a property manager. This gives you the opportunity to see how vacancies are marketed.
Are they using high-quality images and lots of description? Do they include contact information so prospective tenants can get in touch? Better yet, do they highlight what makes a property stand out?
Answering questions like these will help you decide whether to look into a nearby property management company.
After all, vacancies are one of the worst things that can happen to a property owner. How your property manager advertises your vacant property can make or break your rental property business.
In addition, try to get in touch with some local tenants to see how they feel about their property manager.
Ask questions such as:
- Was the property in top condition upon move-in?
- Is getting in touch with the property manager easy?
- How are maintenance and repair requests handled?
- Is the property management company’s office staff knowledgeable and friendly?
- How does the property manager communicate with you?
- How often does the property manager come by the property?
- Has there ever been an instance where you spoke with the property owner?
- Will you consider renewing your lease if asked to at the end of your tenancy, why or why not?
Nothing beats someone sharing firsthand experiences about a property management company with you. Of course, just like written reviews, everyone has their own perspective (and some people are never satisfied).
But learning about the basics such as rent collection and communication can help you make a more informed decision.
If you’ve found yourself wondering: How do I find property management companies near me since investing in your first rental property, contact us today.
Here are Brewer & Stratton Property Management, we know how many options there are when it comes to hiring a nearby property manager. But what sets us apart from the rest is the fact we follow the “Golden Rule.”
Our goal is to reduce the number of vacancies you have, lower maintenance costs, and place high-quality tenants for your rental. But most of all, we strive to treat all people, including our property owners and their tenants, with respect so that at the end of the day, everyone is happy.
6 Rental Home Security Tips for Landlords and Property Managers
One of the most difficult challenges facing landlords today is Phoenix rental home security.
After all, your tenants expect you to keep them safe from break-ins and theft of their personal belongings. But not being around 24/7 to watch your property and ensure that it remains safe makes security difficult.
Even so, your tenants are more likely to be burglarized while leasing a rental property than while owning a home. This makes the need for security in Phoenix rental homes more critical than ever.
Not to mention, you don’t want your rental property damaged. This is especially true if you’ve devoted a lot of time and money to your investment property.
Dealing with damage, and upset tenants that may have to leave is not something any landlord looks forward to.
That’s why today we’re going to look at 6 ways to bump up the security in your Phoenix rental homes. With these tips, you can better protect your tenants and your investment property, all at the same time.
Phoenix Rental Home Security Tips
1. Lock it Up
There are things you should know before buying an income property. For instance, every time you place a new tenant in your rental property, you should change all the locks. This includes the front, back, and garage doors, as well as any other door that requires a key for entry.
The most secure type of lock to have on any main entrance door is a double-cylinder deadbolt. In fact, this type of deadbolt prevents thieves from breaking windows and unlocking doors from the inside.
Adding to this, you can install metal or solid wood doors. These types of doors are very hard to bust through, which is a common way burglars like to get into locked up houses.
Keep in mind that locking up your rental property doesn’t just involve your main doors.
Take a look at these additional ways to secure your tenants and your investment property:
- Encourage tenants to use door jammers in all sliding glass doors and windows
- Use double pane windows, which are not only more difficult to break, but help keep utility costs down
- During property inspections, you or your property manager should check all locks and make sure they work
- Check that your property’s windows can’t be opened from the outside
In addition to adding locks throughout your rental, it’s a good idea to remind tenants about the safety of locking up.
2. Install External Lighting
One of the best ways to deter would-be thieves is to install external lighting around your rental property. After all, no one wants the light shining right on them mid-crime.
At the very least, add external lights to the main entrance of your rental property. If you can, install motion sensor lighting so they only turn on when they sense movement. This will cut power costs for your tenant.
You can also install lights with timers so your tenants don’t have to remember to turn them on each night. This is especially helpful for those times your tenants are away on vacation or the property sits vacant.
Automatic lights give the impression someone is home. They also prevent your property from becoming a target.
As an added layer of security, make sure your rental property has lighting on the interior that can be used at night. This again gives the impression someone is home, even when no one is.
3. Eliminate Hiding Spots
Someone trying to break into your rental property might hide before entering so no one notices anything unusual. Especially if you have external lighting that shines on the property’s entrances.
If you have thick bushes near the entrance to your property or by the windows, consider removing them. Or, at the very least, have your tenants trim them so people cannot hide in them in the dark.
4. Set Up a Camera
Security cameras give your tenants an easy way to track activity happening on the property, whether they’re home or not.
For instance, a security camera can:
- Alert your tenants when unusual activity is happening around the property
- Show tenants who is at the front door
- Record any break-in attempts and help authorities identify potential suspects
- Deter people from trying to break-in in the first place
If you really want to bump up your Phoenix rental home security efforts, get a camera that syncs with a smartphone. Your tenants can then monitor their home at all times, even on-the-go.
5. Install a Security System
Though one of the more expensive ways to boost security in Phoenix rental homes, having a security system is very beneficial.
To start, a security system keeps your tenants, their personal belongings, and your property safe from criminals.
Besides, a security system is a premium amenity that high-quality tenants will pay more for.
>> Do you want to learn the true value of your rental property, especially after you’ve installed a security system? Get a Free Rental Analysis today and see how much rent you can expect from your highly secure rental property. <<
According to SafeWise, here are some things to consider before installing a security system in your rental property:
- Monitoring Connection: Determine if you’ll use a landline, broadband, or cellular connection.
- Installation: Choose between a DIY or professional installation.
- Feature Set: Choose from features like temperature, lighting, appliance, and even locking controls.
- Price: Figure out your budget before your settle on a security system. There are many options available to fit all budgets and needs.
If you don’t want to install a security system in your rental property, you might want to look into simple alarms. You can place alarm sensors on your property’s windows and doors, alerting tenants if someone is trying to break in.
6. Educate Your Tenants
As a landlord, you have the knowledge and experience about Phoenix rental home security that your tenants may not have. Because of this, you have the power to help your tenants protect themselves and your investment property, especially when they’re away.
All you have to do is share security tips with them such as:
- Having the mail and newspaper placed on hold or picked up by a neighbor while gone
- Checking the security system before they leave, and monitoring their home on their mobile device
- Arranging for a friend or family member to drive by the property to check on it
- Handling landscaping such as mowing the lawn, raking the leaves, or plowing the snow before leaving
- Turning on some interior lights on to make it seem like someone is home
- Storing all valuables in a locked safe
- Refraining from announcing your absence on social media for all to know
The goal is to convince your tenants to take a proactive approach to home security whenever they’re away for a long time.
If you have a rental property in the Phoenix area are in need of a property manager, contact us today. At Brewer & Stratton Property Management we have the experience needed to recommend the best security measures possible for your rental property.
Plus, we thoroughly screen only the best tenants, routinely inspect your property, and collect rent each month so you don’t have to. So, get some help so you don’t have to worry about the safety of your tenants, a damaged investment property, or a negative monthly cash flow.
7 Crucial Questions to Ask a Property Management Company
Hiring a property manager for your rental property can prove to be one of the best decisions you make. Whether you’re a first-time investor or an established landlord, getting professional help can generate you more rental income than ever before.
That said, the interview process can be challenging if you don’t know what to look for in a reliable property management company.
Not all property managers are created equal. And when it comes to handling the day-to-day tasks of your properties, it’s crucial you make the right hiring decision.
That’s why today we’re going to take a look at the questions you should ask a Phoenix property management company.
What to Ask a Phoenix Property Management Company
1. How Many Rental Properties Do You Currently Manage?
It’s important to know how many rental properties they are currently responsible for. The last thing you want is for their property managers to be spread thin across too many rentals.
A property management company that manages too many rental properties may not provide the kind of customer service you deserve. And a property management company that manages too few rentals could prove inexperienced and cost you money.
It is suggested that the perfect balance is around 200-600 rentals. You should, however, take into consideration the size of their staff before making a final decision.
2. What Services Do You Offer Property Owners?
One of the most critical questions to ask a Phoenix property management company is what services they provide. After all, if you’re going to invest your hard-earned money in a property manager, it had better be worth it.
Some companies will provide minimal services for maximum monthly fees. You want to avoid this at all costs. And you can do so by asking about the things they will be responsible for while managing your rental.
Here are some of the top services you should look for in a high-quality property management company:
- Professional advertising of all vacancy properties
- Thorough tenant screening and placement
- Solid rent collection procedures and quick no-payment follow-ups
- Monthly and annual reporting of income/expenses
- Routine property inspections
- Eviction management, court representation, and knowledge of all landlord-tenant laws
- 24/7 maintenance and repair services
- Legally compliant lease drafting
Of course, this list is not exhaustive and your needs will differ depending on your individual situation. The key here is to make sure you’re getting enough services to justify the added monthly cost.
3. How Do You Determine Rent Rates?
A good property manager will provide a comparable market analysis of all available listings nearby that are similar to yours.
From there, they will be able to accurately price your rental to be competitive enough to get you the most rental income possible. However, they won’t demand too much rent and risk turning away high-quality tenants.
Based on things such as the local market, your rental size, the amenities you offer, and more, you should always expect to generate a positive cash flow. And the right property manager will do just that.
>> Looking for qualified property management companies in Phoenix, AZ? Get a Free Rental Analysis and learn the market value of your property today to make sure you collect the highest rent rate you can. <<
4. Do You Provide Any Guarantees?
If you’re wondering what to ask Phoenix property management companies during the interview process, make sure you always include a question about guarantees.
Experienced property management companies can offer many types of guarantees, such as an eviction guarantee or tenant guarantee.
5. What is Your Rent Collection Process Like?
Whether you’re an accidental landlord or one trying to build a business, making money is the ultimate goal. And, the only way you make money as a landlord is to collect rent from your tenants.
One of the questions you should ask Phoenix property management companies you’re interviewing should be about their rent collection procedures.
While there are many ways to collect rent from tenants, the one answer you should be looking for is online rent collection.
Online rent collection is the most convenient for tenants, which reduces late or non-payments. It’s also the fastest way for you to get funds deposited into your account. Lastly, online payments are the most secure method for collecting money from tenants.
If your property management company offers tenants other ways to pay their rent, that’s okay. Just make sure there’s an online portal for those that are accustomed to paying everything online.
6. Do You Have a Website?
You might want to ask the property management company you’re considering if they have a website.
In addition to making online rent collection a cinch for tenants, a property management website has:
- A way to provide vital information to tenants that may affect them directly
- A property owner portal for monitoring the management of their rental property
- Resources that can help you build your rental property business into a success
- A tenant portal for making maintenance and repair requests
- An advertisement section for available properties (such as yours) for those looking to lease
If the property manager you want to work with can show you the company’s website, you are well on your way to making a good hiring decision.
7. How Do You Handle Maintenance and Repair Requests?
One of the top complaints tenants have is that there is no urgency when it comes to maintenance and repairs.
If you want to keep your tenants happy, you’re going to need a property manager dedicated to handling these requests right away. After all, happy tenants lead to more lease renewals.
Here’s what to look for in the answer your potential property manager gives you regarding maintenance and repairs:
- There are several ways for tenants to get in touch with them to request maintenance and repairs. This may include the online portal, email, phone calls, or even text.
- A reliable, professional, and affordable maintenance crew or insured contractor will handle all requests, no matter how minor.
- Requests will be coordinated with tenants to suit their scheduling needs to decrease disrupting your tenant’s lives.
- During routine inspections, all minor issues will be handled immediately to prevent more costly repairs in the future.
- Your tenants will receive ample information about who to contact in the case of an emergency.
- You will always be notified of major maintenance and repair issues.
- The property management company never profits off the maintenance and repairs services they provide tenants.
There’s a lot that goes into maintaining your investment property. And, while the tenants that lease from you are partially responsible for some things, you need to know anything beyond that will be taken care of.
In the end, hiring a property manager to help you with your rental properties can be daunting if you don’t know what to ask during the interview process. And if you don’t ask the right questions, you risk losing money and tenants due to poor service.
Before hiring the first company you talk to, make a list of questions you’d like to ask all Phoenix property management companies you plan to meet with. This way you can make an informed decision. But best of all, you can rest assured your property is well cared for, your tenants are happy, and you’re making money.
If you’re interested in having Brewer and Stratton manage an income property for you, contact us today. We can help with everything from tenant screening to property inspections and rent collection to maintenance and repairs. All you have to gain is more time and money to enjoy the investment you’ve made and the rental income you generate.
Top 7 Reasons to Hire a Property Management Company
Investing in a rental property can be a very rewarding and profitable venture. In fact, rental properties can generate enough supplemental income for you to pad your retirement, finally take that dream vacation, or even quit your day job.
But the truth is, self-managing a growing rental portfolio can become quite overwhelming. It takes a lot of time and effort to screen tenants, collect rent, and handle maintenance and repair issues.
And that’s just the beginning.
If you own a rental property and are starting to feel like your dream of generating passive income is slipping away, check out these top reasons to hire a property management company in Phoenix, AZ.
Reasons to Hire a Property Management Company in Phoenix, AZ
1. You Don’t Have the Time
Being a landlord takes up a lot of your time, especially when you’re doing everything alone. And you may find that you don’t want to have to make these time commitments.
That’s where a reliable property management company comes in handy.
By hiring a property manager, you relieve yourself of having to do things like:
- Advertise vacancies, schedule showings, and perform tenant screenings
- Conduct routine property inspections
- Handle maintenance and repair requests
- Perform rent collection and related paperwork
- Deal with tenant complaints
- And so much more
Don’t miss the opportunity to achieve financial freedom because you don’t have the time to manage your rental properties yourself. Instead, hire a property manager to do the hard work for you, while you build up enough wealth to live the life you’ve always wanted.
2. Better Tenant Placement
Property managers know what it takes to place high-quality tenants in your rental property. They also know how to find the best people so you don’t have to worry about non-payment of rent, eviction proceedings, or an abandoned property.
In addition, a good property management company can handle all the details related to tenant screening, including:
- Criminal background checks
- Income and employment verification
- Previous landlord reference checks
- Review of credit reports
Don’t take matters into your own hands and hope you place a good tenant in your property. Hire a property management company in Phoenix, AZ to ensure your rent is paid on time and your property is well cared for.
Remember, a good property management company will have a tenant placement guarantee in place, much like the one we have at Brewer & Stratton Property Management.
We’re so convinced that we’ll place a good tenant in your rental property that if they’re evicted within the first 12 months of their lease, we’ll re-lease your property at no extra charge to you.
If you’re looking for a qualified property management company in Phoenix, AZ, contact Brewer & Stratton Property Management today and see how we can help you find the best tenant possible to lease from you.
3. Set Competitive Rent Rates
Understanding the rental property market is tough if you don’t know what to look for.
And because of this, you run the risk of doing two things:
- If you ask for too little when it comes to rent, you run the risk of attracting the wrong kind of tenants. You also don’t make as much money as you should.
- If you ask for too much monthly rent, you run the risk of having longer than expected vacancies because no one will want to lease from you.
Finding the perfect balance between undercharging and overcharging rent is better left to the experts. This way you not only maximize your profits, but also keep tenants wanting to renew from you each lease term.
Hire a property management company that takes in to consideration the rental market as a whole, the amenities you provide, what similar properties are going for, and what the location offers prospective tenants.
In addition, it’s helpful to find a property management company like Brewer & Stratton Property Management that offers a Free Rental Analysis of your property. This way you know before even hiring them the market value of your property and what you can expect the monthly rent rate to look like.
4. Maintenance and Repair Relief
Rental property maintenance will not only take up a lot of your time, but a lot of your money too. That’s why many people opt to hire a property management company in Phoenix, AZ to take care of maintenance and repair issues for them.
Using a property manager to handle your rental property maintenance will relieve you from having to answer tenant requests 24/7.
Also, you’ll find that with a good property management company:
- Your property manager will have access to reliable and cost-effective contractors
- There will be an on-call maintenance crew to handle minor repairs
- Tenants will be able to quickly and efficiently make maintenance and repair requests
- Minor repairs will be fixed early on, before they turn into costly issues
- Your tenants will be more satisfied because their requests are handled fast
Your property management services might even include in between tenancy maintenance and repairs such as painting, cleaning, changing locks, and general repairs, all of which save you time and money in the long run.
5. Easier Rent Collection
The way to make money as a landlord is to collect a rent payment from your tenants every month.
However, getting your tenants to pay their rent every month can be difficult if you’re self-managing your property and don’t have the right rent collection process in place.
Good property management companies will typically give tenants a few ways to submit their rent payments each month. For instance, face-to-face payments, drop boxes, direct mail, and even bank deposits are some good examples.
That said, one of the most effective rent collection methods is through an online portal.
Tenants can pay rent day or night and even set up automatic payments so they’re never late. Your property manager will also have a secure record of all rent payments so you’ll always know what has been paid and when.
If you want to maintain your cash flow (and have someone to handle non-payment of rent issues) hire a property manager to oversee rent collection for you.
6. Legal Compliance
There are many Arizona federal, state, and local landlord-tenant laws you have to know as a landlord to maintain legal compliance.
And, if a tenant feels you’ve violated one of those laws, you could find yourself in some very serious legal trouble.
Hiring a property manager that knows and understands the rules and regulations as they apply to you and your rental property is the key to never getting into trouble.
And, if by chance you do find yourself facing a tenant in court, you’ll know that you’re on the right side. You’ll also have the knowledge and expertise of your property management company to back you in court.
7. Shorter Vacancies
Vacancies are something all property owners face at one point or another. Yet, it’s in how you handle those vacancies, and how long they last, that’s the key to succeeding as a landlord.
Find a property management company that understands that vacancies are the result of these three things:
- The going rent rate is too high
- The property doesn’t look good, meaning it needs maintenance, repairs, and renovations
- The property isn’t being properly advertised
If you can do that, you can guarantee your vacancies will drop. That’s because you’ll be offering a property to tenants that’s priced competitively and looks good.
And if you hire a company like Brewer & Stratton Property Management, there will even be a 3D Virtual Tour of your property so potential tenants can see exactly what your property looks like.
In the end, it’s understandable if you’re hesitant to hire a property manager to handle your rental property. After all, it was a major investment and you likely put a lot of time, effort, and money into purchasing a rental that would generate you as much income as possible.
But the truth is, there are lots of reasons why hiring a property management company in Phoenix, AZ is a good idea. And, if you find the right company to work with, you won’t feel worried that your property is in the wrong hands.
Instead, you’ll feel a sense of peace and actually enjoy the free time you have from no longer having to manage all the tiny details related to your property.
Contact us today to see how we can help you command the highest rent for your property, take care of all the maintenance and repair issues, and find the highest quality tenants to lease from you.
But more importantly, see how we can save you time, effort, and money so you can enjoy the investment you’ve made, without all the added stress of having to deal with everything alone.