Today we are discussing curb appeal and the importance of maintaining the exterior of a rental property. After you invest in a new property or consider making upgrades to an existing one, take some time to evaluate what prospective tenants will think 

about the house when they first drive by it and see the For Rent sign in the yard. Will they want to see the interior of the property as well, or will they just keep driving? Maintenance on the outside of the property is just as important as interior appeal. A potential renter’s first impression is just as powerful as the first impression of a home buyer. Here are a few important details to consider when you’re inspecting the outside of your home.

Exterior House Paint

There is nothing worse that cracked, faded or peeling house paint. Make sure the paint job on the outside of the house is in good shape; otherwise you’re going to turn off potential tenants before they even make it to the front door.

Overgrown Shrubs

Overgrown shrubs and trees will only hide the home and become a future maintenance problem if they begin to grow into the eaves, roofs or patios.

Lawns

Weeds and unkempt lawns can be an eyesore to prospective tenants and to your neighbors as well. You don’t want the yard to look uncared for and messy. As property managers, we refresh many yard areas with new shrubbery and we also convert grass to low maintenance desert landscaping when necessary. Try asking yourself if the property is a place you’d want to live in yourself. If the answer is no, then it’s time to come up with a plan to improve the exterior look of the home. We have working relationships with painters and landscapers to obtain competitive bids on improvements that are needed to make your property one of the best looking houses in the neighborhood. If you’d like to hear more about how we do this, or you have questions about your own rental home’s curb appeal, please contact us at PRS Property Management. We’d be glad to help you.

Today we are discussing issues that you need to consider when you’re planning to increase the rent on your tenant’s property. While reviewing their return on investment, many property owners think raising the rent will improve the bottom line for the upcoming year. It is important to review income and expense figures on a regular basis and to stay in tune with the housing market. As your property management company, we know that there are many other things to consider when you’re planning a rent increase. First, remember the tenant is not the only one bound to the lease. The landlord must follow it as well. We always check the rental agreement to see if we can legally issue a rental increase. Typically, the best tie to raise the rent is on the annual anniversary month of the tenancy. Next, take into consideration the current rental housing market. If the supply of available rental homes is low, demand will be higher and rents will increase naturally. But if the supply of rental homes is high and the demand is lower, rents will be flat or even decrease. Conducting a close review of houses that have recently rented is critical in determining if a rental increase is due. You also need to consider whether the tenants have had an excellent payment history and taken great care of the interior and exterior of your property. Sometimes, it’s wiser to give no increase, or just a minimal amount to ensure you’ll keep your good tenants. Finally, if a decision is reached to raise the rent, the amount should be reasonable. It has to be consistent with the rental market. Imposing a huge increase will only create bad feelings between you and your tenant. It can lead to a less successful relationship, and that’s not what you want. If you have any questions about rental increases, or you’d like more information about how we can help you, please contact us at PRS Property Management.

As a landlord, you spend a lot of time and money making sure your investment is protected. You do regular inspections, thoroughly screen any tenants who want to live there and make sure all preventative maintenance is taken care of. It’s also important to protect your property and your tenants from crime. Whether your house is vacant or occupied, you don’t want it to be a target for criminals. Today, we’re talking about a few of the things you can do to make sure your Phoenix rental home is safe.

Locks

Change the locks on your property every time a tenant moves out. We also highly recommend installing deadbolt locks on your doors. This will give tenants an extra bit of security when they are inside. You should also consider having heavy, solid doors at your property rather than the hollow models that are easy to break down. Look for security hinges you can install on your doors to ensure no one will be able to force their way inside. All screens and windows should also have functioning locks. Elaborate security systems are not necessary, and might only cause confusion for tenants. However, if your rental property is going to be vacant for a while, installing a basic alarm system might be a good idea.

Lighting

Good exterior lighting is one of the smartest ways to protect your home from crime. When your home is well-lit, there’s a much lower risk that someone will even approach it, let alone try to break in. Install bright lights at all doors, garages and other points of entry. Consider motion lights that will turn on automatically anytime there is movement on your property. Interior lighting should also be abundant and easy to access. Minimize the dark spots found in the exterior and interior of your home.

Access

Access to your property should be limited to the people who are renting it, their guests and anyone you authorize to be there. Explain to the tenants that keys are not to be handed out and any security codes to gates should not be shared. This is something you can include in your lease, and make sure you talk to the tenants about the seriousness of crime prevention before they move in. Awareness is one of the most important things that can prevent crime. Make sure you know your neighborhood and take the necessary precautions to keep your property and tenants safe. If you have any questions or you need further advice, please contact us at PRS Property Management.

PRS Property Management has a wide range of experience servicing the Phoenix area including Tempe, Chandler, Ahwatukee, Mesa, Gilbert & Queen Creek. Unfortunately, emergencies and disasters occur on a regular basis. While we cannot always avoid them, the right preparation and ongoing training can lessen the impact on tenants and your rental property. In the property management world, we see emergencies as problems such as no heat in the winter, no air conditioning in the summer, fires, broken water lines and sewer spills. A disaster would be flooding, a tornado, a hurricane, a landslide, an earthquake or some other act of nature. Since we cannot avoid most of these, we must be prepared with emergency policies and procedures for when they do occur. In advance of any emergency or disaster, you want to prepare written office procedures and ensure that key personnel are trained. Identify local service companies and create relationships that will ensure quick repairs and clean up. Monitor news reports during disasters, especially when these events are predicted. Take any advanced action whenever possible. Once an event occurs, immediately implement your procedures and disaster policies. Monitor the conditions closely and keep your incoming phone lines open whenever possible. If you are required to evacuate your office, forward the phone calls to a different location or record emergency instructions for those trying to reach you. Always prioritize your emergency requests and get help assigned to those in immediate peril. Counsel tenants as needed and refer them to outside agencies such as the American Red Cross when they need shelter or food. Once the disaster has passed, begin the process of determining the extent of the damage. Schedule repairs and notify property owners. You’ll also need to contact insurance companies and assist tenants who need substitute housing. While we cannot predict all emergencies and disasters, PRS Property Management is fully prepared to quickly react, assist our tenants and protect the properties we manage from further damage. If you would like more information about what we do, or you have any questions, please contact us at PRS Property Management.

Property owners often ask us about the upgrades and improvements they should make to their properties. This is an important question because the right upgrades will help you maximize your rent and it will also ensure you’re able to rent your property quickly to high quality tenants. The wrong upgrades, however, will have the opposite effect and will only end up costing you money.

Smart Upgrades

Converting grass to a low maintenance landscape is a great idea. Utilize patio pavers, pressed stones, mulch and other materials to create a natural look that’s easy to maintain and won’t require a lot of water and work. An automatic garage door opener makes a big difference to tenants. If you don’t already have one installed, consider putting one in. It’s fairly inexpensive and it will be an attractive selling point when you’re showing your property to potential renters. Stick to neutral colors on the walls and floors. Pink paint might work for your own daughter’s bedroom, but you never know who your tenants are going to be, and you want the property to appeal to everyone. If you’re going to make changes to your flooring, upgrade to tile instead of carpet. This will save you money in the long run because you won’t have to replace the tile as frequently as the carpet. Tenants will also appreciate it because it’s cleaner, healthier and easier to take care of than carpet.

Terrible Upgrades

An overly landscaped yard is not a good idea on rental property. Tenants will not maintain it the way you expect them to, and they’ll be intimidated when they see it. Keep it simple and manageable. Investing in custom drapes, blinds and other window coverings is also a bad idea. This upgrade will cost you a lot of money, and you’ll be very upset if those expensive blinds or drapes get damaged. Excessive upgrades that are overly complex or out of place for the neighborhood will not work either. Stainless steel appliances and granite countertops are great for your own house if that’s what you want, but tenants won’t be willing to pay extra for those things. Alarm systems are also not necessary. As long as you have a well-lit home with deadbolts on the doors, your tenants will feel safe. They aren’t going to want to learn the complexities of alarm codes and security systems when they move in. Wallpaper is never a good idea. Your tastes are not necessarily going to be the same as your tenant’s, so keep the walls neutral. It’s also harder to maintain. What will you do when it starts peeling off the walls? You don’t want to replace wallpaper every few years. Finally, avoid softwater systems. It’s not great for the environment, especially here in Phoenix where rainfall is not always consistent. It also requires upkeep and maintenance, which your tenants are not going to be willing to do. If you have any questions about which upgrades make sense and which do not, please contact us at PRS Property Management, and we’d be happy to talk to you.

Many of the rental property owners who contact us want to know how much property management services cost. That’s a fair question, but it’s not the one you should be asking. Instead, you need to know how much money professional property management can actually save you. Most property managers will have a fee structure set up that requires either a percentage of the rent every month or a flat rate. Some property managers will include all their services for one fee and others will ask you to pay more for anything extra, such as lease renewals and marketing. Talk to your property manager before you sign a contract so you know exactly what you’re getting for your money. Here’s how using a professional will save you money in the long run:

Tax Deductible Services

Most people don’t realize that the tax deductions you can take when you work with a property manager practically pays for the service itself. Talk to your accountant or tax preparer first, but the property management fees you pay can be written off as a cost of doing business when you’re filing your taxes.

Better Tenant Quality

A professional property manager has thorough, detailed screening criteria in place that ensures you get a highly qualified tenant. If you don’t do a good job of screening, you run the risk of getting a tenant who is going to damage your property and stop paying rent. The cost of evicting that tenant will be a lot higher than any property management fee.

Legal Knowledge

If you aren’t up to date on all the latest landlord and tenant laws as well as property code regulations in Phoenix, you have the potential to get into trouble. There are also national and state fair housing and rental property laws that you need to pay attention to. One legal misstep can cost you thousands of dollars in court fees and settlements. Having a property manager who spends a lot of time following the law will keep you protected and out of court.

Maintenance Savings

A landlord who uses vendors once in a while is going to pay a lot more than a professional property manager who gives that vendor a large volume of work on a regular basis. One way to save money with a property manager is by taking advantage of those volume discounts. You also won’t have to worry about using a vendor who is dishonest, unlicensed or unable to complete a job. Property managers screen vendors as strictly as they screen tenants, so you’ll save money and work with the best.

Spending money on professional property management services is an investment in your rental property. You’ll save money in the long term, protect yourself and your property and sleep better at night knowing you have an experienced professional on your side. If you have any questions or you’d like to hear about our services, please contact us at PRS Property Management.

While technology has provided wonderful tools and resources for landlords and property managers, it has also increased the ability of dishonest people to create and scams and tricks. Protecting your home from tenant scams is essential.

Verify Identity

Make sure you know who you’re talking to when a potential tenant inquires about your home. Get a name, collect contact information and ask a few pre-screening questions. If you find you are talking to someone who is not local, find out where they are and why they are interested in renting your property. Gather as much information as you can and then verify everything. Ask for identification when you meet the person to show the property. If you’re talking to someone from overseas who wants to rent your property because he’s moving to Phoenix for a job, ask for proof of that job offer. You must be vigilant. You also must gather information on every person who will be living in your property. The person who fills out your application and signs your lease must be the same person who moves in.

Protect Your Own Identity

Never share any of your own personal information with someone you have not met. Do not send additional photos of your property to someone just because they ask. One of the most common scams online right now is this: people will steal the pictures you have posted or shared of your property and then list it at a price that’s much lower than what you’re asking. They’ll collect a security deposit from people who think they are renting your property but have not seen it, and then both you and that potential tenant are victimized.

Trust Your Instincts

If something seems off, it probably is. Be wary of tenants who show up wanting to pay for a full year in advance or who have long complicated stories of why they were tossed out of their last rental home. If an applicant cannot prove a current address or a source of income, you don’t want to rent to that person and you don’t want to deal with him anymore in any capacity. Verify and document every interaction you have with potential tenants.

No one likes to live in suspicion or be forever fearful of cheats and scams. However, identity theft is a huge problem and it’s something you need to protect yourself and your property against. Be on high alert, and if you have any questions or need any help, contact us at PRS Property Management.

When you need work done on your rental property, whether it’s a simple paint job or a new roof, you need to be highly selective in who you choose to complete the work. Property managers are experienced at this because we work with lots of vendors in a variety of specialties all the time. Today we’re sharing a few tips that will help you choose the best vendor for the right price.

Referrals and References

Think about screening vendors the same way you would screen a new employee or even a tenant. Ask about experience, what kind of work they have done previously and whether they have any references. Do a little bit of research online to see if there are any reviews of their work or referrals from satisfied customers. Check them out with public and professional agencies to make sure there haven’t been any complaints or excessive lawsuits against them.

Licenses and Insurance

It’s critical to work only with vendors who are licensed to perform the work they do. Using an unlicensed worker puts your property at risk and also sets you up for some serious liability issues. Hire someone who is qualified for the job. Look for a licensed plumber when you need plumbing work and an electrician when you need electrical work. Specialized vendors have extra training and experience that will benefit your investment. It’s also important to make sure any vendor you use has adequate insurance, including liability insurance and worker’s compensation insurance. Otherwise, you could be held responsible if something happens or someone gets hurt while performing work at your house.

Fees and Contracts

Talk about the fee structure of any vendor you’re considering. You need to know how they bill for the work they do and what kind of contractual requirements are included. It’s important that you understand the scope of work you’re paying for. Get everything in writing and document all the estimates, proposals and final invoices. We always recommend that you ask for pictures once a job is complete. This way, you can see the work that was done and you can communicate with the vendor about any issues or problems that they may have encountered. You can also ask for recommendations about preventative maintenance and repairs that may be required in the near future. Hiring a vendor doesn’t have to be complicated, but you need to be thorough when interviewing and screening the professionals who will work on your property. If you need help, please don’t hesitate to contact us at PRS Property Management.

Changing property managers can be stressful, but if the professional you are currently working with is not providing the type of outstanding service that you and your property deserve, you might want to consider making a switch. Today we are going to give you four very good reasons for why you should fire your property manager.

Lack of Communication

If you never hear from your property manager, you probably have no idea what’s going on with your rental property. You don’t want to stick with a property manager who isn’t returning phone calls, answering emails or providing you with the information you need. There should be ongoing communication and you should always receive regular reporting. At the very least, you should get a monthly statement that shows you how your investment is performing.

Long Vacancies

When your rental property sits vacant on the market, you’re losing money. A property manager who cannot get the house rented needs to be fired. Find out what the problem is; you might have it priced too high, or perhaps there isn’t enough advertising and marketing being done. In today’s rental market, you shouldn’t have to wait months to get your rental income started. If your property manager cannot find you a tenant, you need to find a new property manager.

Accounting Problems

There should be no question at all about where your money is going. A good property manager will keep detailed accounting that shows you how much you’re earning in rental income and how much you’re spending on maintenance, fees and other costs. Everything should be transparent. There is no excuse for accounting problems with all the advanced technology and property management software that’s available today.

Poor Maintenance and Inspections

Regular inspections are critical to ensuring your property is cared for and your tenants are happy. Find out how often your property manager inspects your property and ask for a copy of the inspection reports. Routine maintenance is a big deal because it keeps your house in good shape and avoids expensive repairs and replacements that deferred maintenance can cause. If your property manager isn’t responding to repair requests from tenants in a timely fashion, your property will suffer and you’ll find you’re unable to hold onto tenants.

No one likes to fire anybody. However, if your property manager is unable or unwilling to communicate, cannot do an effective job and leaves you with more questions than answers, it’s time to find someone new. We would be happy to tell you about the high quality services we provide, so please feel free to contact us at PRS Property Management.

Today we are discussing a delicate subject: handling the difficult tenant. In a perfect world, a property owner would rent to a tenant, the rent would never be late, there would be no maintenance problems and the tenant would keep the house clean and undamaged. Unfortunately, managing property takes place in the real world and handling a difficult or upset tenant is one of the less attractive aspects of owning investment property.

As property managers, we serve as the buffer between the owner and the tenant. Handling difficult people and situations takes thought and careful action. At PRS, we know what steps to take when faced with a difficult tenant or a poor situation. Listening to the resident is a big key in handling any problem. From the beginning, it’s important to determine what the unhappy tenant is really saying. By listening to all the issues, we’re able to increase our understanding and reach a resolution.

It’s important to implement a plan of action right away. Long and unnecessary delays will only antagonize the tenant. Whatever the problem is, it’s vital to keep tenants informed either verbally or in writing. If they are unsure or confused about progress or resolutions, they are going to continue being unhappy.

After the problem is resolved, contact the tenant to verify the issue was handled or the repair was completed. This is another key to maintaining a peaceful tenancy and it will enhance the landlord/tenant relationship.

At PRS, listening, determining the right course of action, communicating, following up and documenting everything is the best way to handle a difficult tenant. Our high standards and commitment to service require us to keep our tenants calm and happy whenever possible.

If you have any questions about handling difficult tenants, or you’d like to hear more about the services we provide, please contact us at PRS Property Management.

No one likes to talk about them, but unfortunately bed bugs are a reality that a lot of people deal with, and at one time or another, you might find you have bed bugs in your rental property. Bed bugs can make themselves comfortable in your bed, your linens, the carpet and your furniture. Today we are going to tell you how we recommend handling a bed bug problem and what you can do to minimize the risks of attracting them.

Stay Calm

When you hear the words “bed bugs” the natural reaction is to get squirmy and terrified. Don’t panic. There is no reason to overact and throw away everything that’s in the house. It’s possible to treat a bed bug problem without completely renovating a property or burning the bedroom furniture. Approach the problem professionally and calmly.

Get an Exterminator

As soon as you become aware of bed bugs in your property, call an exterminator. If you don’t already have a reliable vendor who you work with on a regular basis, look for an exterminator who specializes in bed bugs and get him out to your property as soon as possible.

Preventative Measures

Landlords can work towards keeping bed bugs away from the property with routine pest control and inspection. Having your house inspected and treated on a regular basis will help you identify and fix problems quickly. Tenants need to pay attention to preventative measures as well. It’s important to keep all the areas in the property clean and wash sheets and linens regularly.

Good landlords will assist their tenants during the process of taking care of bed bugs. People who have to deal with them are likely going to be upset and anxious. Exterminating the bed bugs is ultimately the tenant’s responsibility in the state of Arizona, unless that tenant can prove the bugs were present in the property before move in. Always include something in your lease that addresses bed bugs and how the problem will be resolved, including who has the responsibility for paying to treat them. This will eliminate any confusion or debate when the problem comes up and neither you nor your tenants want to pay.

If you have any questions about bed bugs, or you’d like to discuss the topic further, please contact us at PRS Management, and we’d be happy to help.

Conducting inspections at the time a tenant moves in and again when that tenant moves out helps you to compare the condition of the property before and after the tenancy. Today, we’re talking about the things you should do when you’re preparing a rental home for your tenant, and the things you need to do when a tenant moves out. Documentation is essential in each situation, so make sure you are prepared to make notes, take pictures and even create videos.

Move In Process

Before a tenant moves into your property, you need to make sure it’s safe, functional and ready to be occupied. Have it professionally cleaned and do a complete inspection to ensure everything is working. Check all the appliances and lights, and make sure there aren’t any damages or problems. You will need to fix anything that isn’t working before your tenant moves in. No one wants to begin living in a property that isn’t ready. Take detailed pictures of every room during the inspection. Check out the exterior of the property as well. You want to provide a home that’s in excellent condition, and you want to be able to prove that the property was in excellent condition when you handed over the keys.

Conduct a walk through with the tenants before they move in. Discuss any questions or problems, and have the tenants sign the inspection report when you complete it. It’s important that you agree on the condition of the property.

Move Out Process

The inspection process should look the same when a tenant moves out and turns in the keys. Make sure your tenant knows what you expect at the end of a lease term. Put those requirements in writing, so your tenants understand what has to be done in order to get the security deposit returned. Once the house is empty, you can go through it again and take pictures, notes and videos. Compare that inspection report to the move in report. With this documentation, you’ll be able to determine whether any damage to the property occurred during the tenancy.

Maintaining thorough records and detailed inspection reports will prepare and protect you during the move in and move out process. When you have all the documentation you need and you make communicating with your tenants a priority, the process will go smoothly at the beginning and end of the tenancy.

If you have any questions, or you’d like more information, please contact us at PRS Property Management, and we’d be happy to help you.

PRS Property Management has a wide range of experience servicing the Phoenix area including Tempe, Chandler, Ahwatukee, Mesa, Gilbert & Queen Creek.

There is often a need to use outside professional service providers in order to be a successful rental property owner. One definition of a property manager is someone who manages real estate for another person in exchange for compensation. Many duties are involved, including marketing of the property, screening tenants, collecting rent, maintaining the property and handling tenant problems. We pride ourselves on providing professional property management and knowing how to handle many tasks relating to properties and tenants. When problems exceed our professional knowledge, or our own legal authority, we advise property owners to seek out qualified professionals to support and protect their investment.

A good insurance agent is a necessity. Insurance agents can advise landlords when policies shift, when new policies are available and of course they also help property owners find the best possible coverage for the lowest price. Some investors are capable of preparing their own taxes, but many are not. A good professional tax person can often save property owners money by knowing and using every tax advantage allowed.

Too often, a property owner with tenant problems will contact an attorney they have used for other personal or business legal issues. However, not every attorney has the knowledge and experience necessary to handle difficult landlord and tenant issues. When in doubt, ask your attorney about the real estate experience in the firm and compare fees.

Investors want to be sure they are getting the best possible mortgage advice when they are buying or refinancing a property. A good loan person can map out all the fees and provide an overview of the best mortgages available and how those loans will perform over time.

When we require the services of a professional outside our own property management field, we will advise you of what you need and provide referrals. A combination of professional service providers is necessary for the success of an investment property.

If you have any questions about what kind of services you might need to keep your rental property running smoothly, please contact us at PRS Property Management, and we would be happy to help you.

Mold can pose huge problems for your rental property, and it’s important to act quickly when you notice it. Make sure your tenants know what to look for and report mold to you as soon as possible so you can stop the problem from getting any worse.

Identify Mold and Moisture

Look for visible signs of mold any time you are inspecting the property or taking care of routine maintenance. It should be something you look for when you’re between tenants as well. Mold will often look like small black marks that can show up on walls, floors and other surfaces. Sometimes spores are also visible. You need to be careful of mold whenever there is moisture in or around the house. If you have a pipe leaking or a faucet that’s dripping, it might indicate a larger plumbing problem which can lead to mold. Inspect your property regularly so you can identify moisture and mold right away.

Health Consequences

If you have a mold allergy, changes in your health will alert you to the potential of a mold problem inside your house. You might notice that you have a stuffy nose, a cough with post nasal drip, continual sneezing and a nose and eyes that are watery. Symptoms can range from mild to severe, so if you notice these problems, consider seeing a doctor and have the property tested for mold.

Cleaning and Removing Mold

When you notice just a small patch of mold that can be easily cleaned off a wall or a surface, take care of it right away. With a bit of baking soda dissolved in water, you can remove mold by spraying the affected area and wiping it away. For larger problems, you’ll need to call an experienced mold professional that can clean up the mold and take precautions to ensure it does not grow back.

Mold is a common and sometimes serious problem that can lead to major and expensive repairs if you don’t take care of the issue right away. Protect your property by inspecting for mold problems routinely and helping your tenants to identify symptoms and signs of mold.

If you have any questions, or you’d like any help, you can always contact us at PRS Property Management, and we’d be happy to assist you.

It’s always a surprise to hear about landlords who rent to tenants without a lease, or with the wrong lease. Your lease is the most important document in the relationship you have with your tenants. It sets forth the expectations and responsibilities for each party. Make sure you have a good lease in place, otherwise you will could be setting yourself up for legal and financial problems.

Protection

A strong lease will protect both you and your tenant. It provides you with a legal frame of reference that will keep you out of court, especially if a dispute with your tenant occurs. If you get a complaint from a tenant or you find yourself in front of a judge, your lease will help you document your actions and your procedures. It gives you a solid foundation and it ensures there are not any gray areas that could be interpreted differently by you and your tenant. When you have a strong lease that is detailed and compliant with the laws in Arizona, you are legally protected.

Rules and Regulations

A strong lease will include information about what a tenant can and cannot do and it gives the landlord the authority to enforce the rules. Your lease must have information about how rent is collected, whether pets are permitted, what the process is for moving in and moving out, how damage is assessed and who is responsible for paying utilities, caring for the lawn and cleaning the property at the end of a tenancy. Your lease should address inspections, explain how to report maintenance issues and describe the consequences of late rent. Include all the necessary details so you can be sure your tenant understands what you expect and how you will enforce that lease.

Limiting Loopholes

If a tenant wants to break the lease or violate a section in the lease, he will look for a loophole that allows him to get away with whatever he’s doing wrong. A strong lease will prevent that. Your tenants will be required to follow the lease and you will have the direction you need to solve any small problems before they become large problems. To ensure you have a strong lease that protects you and prevents your tenants from taking advantage of any loopholes, use a lease that has been created and reviewed by attorneys and property managers. This is your best defense against any short term or long term problems. If you have any questions or you need help finding an excellent lease, please contact us at PRS Property Management, and we’d be happy to help you.

Today, we are discussing reasons why a property may have difficulty renting. It is every property manager’s goal to rent a house as quickly as possible to the best qualified tenants. However, there are sometimes circumstances that can hamper the renting effort.

Rental Market

Take a look at the current market and review the competition. Perhaps there is just a glut of comparable properties available, and tenants are able to be choosy.

Price

Sometimes, the problem is simply the asking rent. Evaluate what you’re asking and make sure the rent is at a comparable price. The more competition you have, the more important it is to adjust the rent to entice a qualified tenant.

Condition

Check out the condition of the property. It may be a great house inside, but if a tenant pulls up and sees peeling paint or a deteriorating roof, getting them inside to see it could be a serious problem. Or, maybe the outside looks good, but the inside has stained carpet, odors or dirty walls. Good tenants are not going to put in an application, especially if there are other available rentals in better condition.

Timing

Certain months of the year have events that could slow down the rental market. Back to school days and severe winter storms as well as the December holiday season tend to slow down the market.

Qualification

Finally, it might be that the market is great and the price is right and the property looks wonderful, but it’s still vacant. The reason might be that the applications collected did not come from qualified tenants. It’s more important to locate a qualified tenant who will pay the rent and take good care of the property than to rent it out quickly to less desirable tenants. If you have any questions about vacancies and rental properties, or you’d like more information on the services we provide, please contact us at PRS Property Management.

Today we are talking about reasons you might want to reject a tenant’s application. As you know, tenant screening is essential to a landlord because you want to make sure you are getting a reliable and responsible individual who will take care of your property and pay rent on time. Here are four specific reasons you might want to reject an application for tenancy: Financial Issues A credit check is a very important part of your screening process, and if you get an applicant who has terrible credit, you might want to think twice about approving that application. A credit history can tell you if the tenant has a record of paying bills on time and you’ll definitely want to reject anyone who has outstanding landlord collections or utility payments that have not been made. Income is also important. As a general rule, you want to rent to someone who earns at least three times the monthly rent. If your applicant doesn’t make enough money to cover the rent, you’re going to have to reject that application. Employment and Criminal History Does your applicant change jobs every few months? Someone with an unstable employment record can be a cause for concern because you’re not sure he or she is able to remain employed. Criminal history is also an important factor in reviewing an application. You don’t want someone living in your house who has a record of violent behavior or illegal activity. Take a good look at employment history and conduct a criminal check to find out whether an applicant is suitable as a tenant. Landlord References It’s important to ask for prior landlord references and if those former landlords and property managers tell you about late rent payments, damage left behind and lease violations, you will want to reject the application. Get as much information as you can from current and former landlords before you decide to rent to a tenant because past behavior is usually a good indicator of future behavior. False Information Anyone who lies or provides misleading and false information on an application should be disqualified from your property. You are entering into a professional relationship with your tenants and if you cannot trust someone before they have the keys to your place, it’s going to be hard to count on them after they’re all moved in. Check everything that’s on the application and don’t stand for any lies or inconsistencies. These are four of the most important reasons to reject an application from a potential tenant. If you need any help with your screening process, please contact us at PRS Property Management, and we’d be glad to help you.

When it comes to choosing where to live, high quality tenants have a lot of options. That’s why it’s so important to be a good landlord. When you develop and maintain a professional and positive relationship with your tenants, you’ll keep the good tenants longer and ensure a successful landlord experience. Here are our best tips on how to be a good landlord: Communicate Often Make sure tenants and clients know how to reach you, and be available through a number of different communication channels. Most landlords find it’s easy to email and text, and that’s an efficient way to keep in touch. Just remember that sometimes a personal phone call or even a face to face visit can go a long way in strengthening your relationship. Always provide your tenants with the information they need and be willing to answer their calls and return their messages. Listen to the needs of your tenants and your property owners and be responsive. Written Policies and Procedures Part of being a good landlord is having consistent policies and procedures in place. This makes your job a lot easier and it also gives your tenants an idea of what to expect. Policies should be in writing and they should be provided to anyone who needs them, especially tenants and applicants. You should be able to explain all of your procedures and demonstrate why they are necessary and how they are helpful. Market Knowledge Pay attention to the rental market you’re working in. This is essential to being a good landlord because if you raise the rent on a tenant during a period when rents are actually dropping, you’re going to lose that tenant and you’ll have a hard time finding a new one. Take a look at what similar properties are renting for and keep your finger on the pulse of the market so you know what the conditions are. Respectful Treatment It’s important to treat all of your tenants with respect. If you find yourself in a disagreement, you can make your case without becoming confrontational or unprofessional. Make sure you treat all your tenants equally as well. Not only is this required in order to be compliant with fair housing laws, it also helps you to demonstrate you’re an excellent landlord. Continuing Education Continuing education is critical. Laws change often and sometimes dramatically, and you need to stay up to date on all the current national, state and local laws. Try to attend seminars and classes so you are familiar with best practices and legal requirements when it comes to Landlord and Tenant law. These are just a few of the ways that you can work towards being a great landlord. If you have any questions, or you’d like more information, please contact us at PRS Property Management.

PRS Property Management has a wide range of experience servicing the Phoenix area including Tempe, Chandler, Ahwatukee, Mesa, Gilbert & Queen Creek.

There are a number of items that may need attention at a rental property prior to the winter season. Preventative maintenance is far less expensive than a major repair or replacement, so you should initiate that maintenance every year as necessary.

As property managers, we look at many things each year to ensure that rental properties are being maintained. We remove the debris and clean out the rain gutters to be sure run off will not be restricted and we prune the trees to stop any threats to the roof, overhead electrical wires, fences, gates or other vegetation. We also trim the bushes around the property, which enhances safety and also improves the appearance of your house. Taking care of those bushes can also sustain the life of your plants throughout the winter months.

Before winter rolls around, we also initiate a service call for the inspection of your home’s furnace, the cleaning of the condenser coils and the checking of air filters to ensure they have been regularly cleaned out or changed by the tenants. We also schedule a roof inspection to check for leaks, damage, cracks or missing shingles. It’s also important to check your fences and gates to ensure they can sustain the weather and any high winds that can accompany severe winter storms.

Homes with wood burning fireplaces need to have the chimney inspected for proper operation, and the autumn is a good time to do that. If necessary, have the chimney cleaned, especially if there is a build-up of creo-soot that needs to be cleared out. This will prevent any fire hazards when you use your fireplace.

In areas where snow might accumulate in the winter, we check and repair any hazardous sidewalks and driveways. This will reduce the potential for accidents, falls and liability.

Property managers are always looking for ways to improve the operations of your rental home. Preventative maintenance is another tool we use to help our investor clients remain successful. If you have any questions about how to prepare your rental home for winter, or you’d like to hear more about what we do, please contact us at PRS Property Management.

PRS Property Management has a wide range of experience servicing the Phoenix area including Tempe, Chandler, Ahwatukee, Mesa, Gilbert & Queen Creek. Today we are going over the benefits of choosing a professional property management company over self managing your investment property. Property owners are often unsure about whether they should manage their own property or hire a professional. It’s understandable to think you’re saving money by managing the place yourself and avoiding the management fees. Investors might think the cost of a property manager is too high. However, your property management company will do a lot more than just collect the rent. Let’s review the several benefits of using a professional property manager: Tax Advantage That property management fee you don’t want to pay is fully tax deductible. Just like any other expense involved in your rental property, you can deduct the fee when you do your taxes. This benefit immediately reduces the cost of professional property management. Maintenance Costs There are reduced maintenance costs when you use a professional. This is because a management company handles a large volume of maintenance across all the properties they manage. Therefore, they contract with reliable vendors at reduced rates. Your annual maintenance savings can often equal several months of management fees. Expertise Property management companies have experience and expertise in a variety of areas including fair housing, landlord and tenant laws, and best practices in rental collection and eviction core procedures. Screening A property management company has access to credit histories and criminal background checks to qualify and accept only the best applicants when filling vacancies for your property. Many times, owners find that simply having someone else worry about the many details of property management is worth the fees. You will get your time back and the amount of stress in your life will be greatly reduced. If you would like to talk further about the benefits of hiring a professional property management company to care for your rental home, please contact us at PRS Property Management, and we’d be happy to talk to you.

PRS Property Management has a wide range of experiences servicing the Phoenix area including Tempe, Chandler, Ahwatukee, Mesa, Gilbert & Queen Creek. There are different ways to determine the amount of rent to ask for your rental property. Setting the rental value can be a tricky process with many factors to consider. Even when rent has been carefully derived by the property manager, it’s still subject to change if that amount is rejected by prospective tenants. Ultimately, the tenant population sets the rental values. There is one major underlying actor that determines rent: supply and demand. Generally, if supply is low, demand will be higher, resulting in increased rents. Or, conversely if supply is high, demand will be lower, resulting in lower rents. It’s always necessary to use comparable properties that are currently on the rental market. This usually means searching out properties with similar size, amenities and neighborhoods. There are a few specific items to consider when you are setting a rental price. Those are the age of the house, the square footage, the lot size, the number of bedrooms and bathrooms, whether there is a swimming pool, any included appliances and the type of vehicle parking that is available. Remove your emotions when you’re renting out a property. For example, if the property has been used as your personal residence, those fond memories you have of the home can distort the true picture of the rental value. It does not pay to sit on an empty property with the attitude that you’d prefer to hold out for a higher rent. If you run the numbers, you’ll see that long vacancies create more financial damage than adjusting the price and renting the property within the lease amount of time possible. Work with the rental market to set realistic rents and the end result will be quickly achieved success and securing new residents. If you have any questions about pricing your rental home, please contact us at PRS Property Management, and we’d be happy to give you more information.

Property Management Tips: How to Handle a Difficult Tenant in Phoenix, AZ

Today we are discussing a delicate subject: handling the difficult tenant. In a perfect world, a property owner would rent to a tenant, the rent would never be late, there would be no maintenance problems and the tenant would keep the house clean and undamaged. Unfortunately, managing property takes place in the real world and handling a difficult or upset tenant is one of the less attractive aspects of owning investment property. 

Property Management Tips: How to Handle a Difficult Tenant in Phoenix, AZ

Today we are discussing a delicate subject: handling the difficult tenant. In a perfect world, a property owner would rent to a tenant, the rent would never be late, there would be no maintenance problems and the tenant would keep the house clean and undamaged. Unfortunately, managing property takes place in the real world and handling a difficult or upset tenant is one of the less attractive aspects of owning investment property. 

1. Setting a Rental Price for Your Phoenix, Arizona Investment Property: Landlord Education
2. Security Deposit and Normal Wear and Tear in Phoenix, Arizona
3. The Benefits of Professional Property Management in Phoenix, Arizona