Category: Real Estate

Apr 23

Understanding Property Management Costs In Phoenix, AZ

property management Phoenix

If you cannot manage a Phoenix, AZ rental property due to work/study/parenting commitments or because you reside out-of-state, you can assign the task to a property management company. Of course, you will have to pay a fee for this service. Some of the common property management costs in Phoenix AZ include:

Start-up/lease-up/initial finding fee

Though not standard across the board, you will come across property management companies that require clients to pony up start-up fees. In general, lease-up fees vary widely ranging from as little as 4% to more than 10% of your property’s total lease amount. In addition, you would have to pay the same fee whenever your property management firm signs a new lease. Companies that do not charge this fee usually inform consumers when marketing their services.

Monthly management fee

This fee is a small percentage of your property’s monthly gross rent revenue. According to figures published on city-data.com, this fee ranges from 8-10% in Phoenix. The good news is monthly management fees remain more or less within this range across all US states. It is worth noting that you can cancel a property management contract at any time if unsatisfied with services offered. However, you must provide a written cancellation notice 30-days prior to ending the working relationship with your current property manager.

Tenant lease renewal fee

After a tenant’s lease period expires and he/she opts for renewal, you will have to pay your property manager a pre-agreed fee. Unlike the fees described above, companies that offer property management services usually quote this fee in US dollars ranging from $100 to $180 or more. For instance, if a tenant signs a one-year lease, a property manager will expect $100-$180 after renewing the lease at the end of 12 months.

Marketing/advertising fee

Some property managers charge their clients a marketing fee to cover the cost of video production and buying ad-space online to market a property whenever it is vacant. Since marketing expenses depend on numerous variables, this fee can range from less than $100 to hundreds of dollars.

Conclusion

Property owners planning to hire Phoenix, AZ property management firms should evaluate services offered as well as fees payable annually or monthly. These include start-up/lease-up, marketing/advertising, monthly management, and tenant lease renewal fees.

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Jun 29

Why Hire A Real Estate Attorney When Buying A Home?

2418973_sShopping for your dream home… or just your for-now home… is one of the greatest moments of your life. It is equal parts exciting and emotional but once you get down to the buying side of things, a whole bevy of new feelings pop up. From confusion to frustration, buying a home is a lot more complicated than picking out shutters, checking for adequate square footage and mulling over neighborhood stats. Whether this is your first home or your forever home, here are three reasons why having a real estate attorney on your side can make all the difference…

A Real Estate Attorney Can Negotiate Terms and Fees On Your Behalf

A contract can contain just about anything and if you do not know what you are looking for… you will never know if you are paying fees that are basically bogus. Your attorney will go over the fine print and negotiate better contracts to nix unnecessary fees, saving you money and frustration in the long run.

They Have No Stake in The Transaction Going Through.

This is a great thing. Your banker wants this deal to happen. So does the real estate agent and seller. A lawyer cares about only your interests. You are paying them for advice… not the completion of a transaction. This ensures your best interests are met and kept without money being a motivator – a very important factor in any business deal.

When you are in the market for “home sweet home”, a real estate attorney can help you to maintain a safe playing field while keeping buyer’s anxiety at bay. An experienced attorney can keep your money protected, sending you through your new front door and into a bright future not weighted down by fine print or hidden fees.

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Jun 05

Property Management in Phoenix, AZ

property management in BoiseIf you are an investor, or own property in Phoenix Az, you need to work with a company that has experience in property management. Experience builds trust, since you know that your property is in the care of a company that has been in the business for many years. Apart from experience, you need a company that will give you services, at standards that are higher than any other company. It does not matter what kind of property you own, the company that you select should be able to manage it efficiently.

An efficient company will ensure that your property is inspected regularly, to ascertain that the tenants are taking care of the house. Any damages will be dealt with promptly, and the value of your home will be maintained. Tenants love to stay in homes that are well maintained; therefore expert property management services in Phoenix will prioritize the maintenance of the property.

You also need a company that has a good reputation in the area. The company should follow the laws and regulations governing property letting in the city. They should be able to deal with difficult tenants in a lawful manner and effect any evictions legally. The company should foster a good relationship with the tenants by ensuring that any regulations are followed to the letter. This means providing tenants with habitable environs, making sure that all health codes are observed, dealing promptly with any criminal acts within the building, etc.

Real Property Management Phoenix Metro has a rigorous screening process. You want to have quality tenants, who will pay their rents on time, and save you from making loses on your property. The screening process will have been honed through years of experience in dealing with all sorts of tenants.

Real Property Management Phoenix Metro also encompasses handling the accounts of your property in a manner that you can easily follow the growth of your investment. They will give you periodical statements which will allow you to file for your taxes at the end of the year. All accounts are well documented, enabling you to handle your investment portfolio professionally.

Emergencies are a part of property management. They have people on standby, 24/7. This way, they can deal with any problem that may arise, at any time of day or night. As the owner of the property, you can rest assured that your property is in capable hands.

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Jun 05

Phoenix Property Management

Property Management MeridianAny real estate developer, or investor, wants to maximize profits with as little stress as possible. Property investment in Phoenix, the largest city in Arizona provides you with the perfect opportunity to do just that. You can invest in property, and turn it over to Real Property Management Phoenix Metro who will run it for you, with minimal problems. They have several years experience, and employ world class management practices ensuring that your property gives you the maximum profits possible.

Every property investor is concerned about the kind of tenants he or she will get. Problematic tenants can cause you a lot of stress. Real Property Management Phoenix Metro has a rigorous selection system which ensures that you get premier tenants living on your property. They employ several types of background checks to ensure that they have the right kind of tenant. This is very important since the getting the right kind of tenants translates into getting the right kind of income-flow. These agents subscribe to several background checking companies who give them the necessary information on the potential tenants.

Their property management professionals take the hustle of dealing with accounting away from you. They collect the rents and submit them to you, together with a detailed accounting report. The report is easy to understand, and you will be able to follow the progress of your investment withy ease. They even provide you with an annual report which you can use for taxation purposes.

The maintenance of your property will determine how long you will be able to make a profit on it. Their property managers are very scrupulous when it comes to maintaining the condition of your property. They will regularly inspect the condition of your property in order to keep it in top-notch condition. They will carry out timely repairs to avoid the dilapidation of the property. They have emergency staff, ready to respond to any situation at any time of day or night.

When it comes to the legal aspects of phoenix property management,  these agents are familiar with the city’s housing regulations. They will ensure that your property meets all ordinances, by making any necessary changes to the property, after having advised you. They will ensure that no tenant breaks any of the regulations, and if they do, then the tenant will be evicted from the property. All this is done within the letter of the laws of the state.

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Mar 25

What Do A Tenant And A Demanding Wife Have In Common?

scottsdale property managementScottsdale in Arizona has become a haven for realty investors looking to turn a profit. With so many homes going into foreclosure, not only are you able to purchase properties for a fraction of what they are worth, there are many looking for rentals after they are forced to vacate their homes. That is unfortunate for them, but if you have the means to snatch up these great properties, fortunate for you. Cash down talks, and if you can get one of these great properties for a steal, it can be a steady stream of income on your part with little to no effort, or is it?

The prospect of sitting back, doing nothing, and collecting rent each month is a very attractive one. In reality, however, is it really sitting back and doing nothing? If you believe that, you have never been a landlord. Having a tenant is like having a demanding wife at home who is constantly handing you a list of “honeydos.” Owning a home is never easy, there is so much to maintain and to upkeep; imagine owning one for someone else. It has all the responsibility of being a home owner, plus. You have no control over how they treat the home, or the things within it.

There are many hassles involved in being a landlord. You are responsible for the listing of the rental, showing it, taking in applications, verifying those applications, getting a signed contract, and worse of all, collecting rent monthly. Not all tenants are going to be responsible or reliable. Dealing with one who is behind in their rent can be a real headache, to say the least. So, what if you were able to really just sit back and collect rent? What if you were able to have someone else take care of the hassle involved with renting and you just got to cash in the rental checks? It is possible with property management in Scottsdale.

Property management in Scottsdale services will take all the work out of renting. They take care of everything from listing, to collecting, to maintaining. They take all the responsibilities, so you only see the profit. There is no phone call to you in the middle of the night, or rush calls to come cut the lawn, it is all on them to handle. A property management service will be like hiring a husband for that demanding wife and sitting back thinking “that poor sucker.” The cost of a property management service is well worth it, just for the peace of mind, and the overall peace to your life. Now may be the best time to become a landlord, especially if you are only the silent partner. You pay the bills, they do the work. It is a win-win situation.

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Mar 25

Three Ways to De-Stress During a Move

moving companies USRelocation is always a stressful event, but stress can be bad for the mind and body. That’s why it is so important for you to take some time to de-stress during an event like moving so that you don’t suffer any lasting consequences from this event. It can be difficult to take a moment and step back when everything is moving so quickly, but having these simple moments can really make all the difference between your ever rising stress level and being able to make it through your move without trouble. To that end, consider one of these three methods of taking the stress out of moving to a new home. Not only will these methods help make things easier to handle, but they will help you stay healthy and happy throughout the process.

Hiring Professional Help

No, we don’t mean that you should go see a psychologist during the move, but you should consider hiring professional help to move your goods. When you have a mover on hand to help you with relocating, you don’t have to worry so much about how you will handle logistics. The movers are well equipped with tools and experience that can make your move both fast and simple, so hiring them can remove a huge amount of stress from the process overall. Just make sure not to add more stress by hiring the first company you come across. Remember the following:

  • Always get binding moving quotes that will cap the amount of money that you will pay for your move.
  • Always check the reputation of the movers to ensure you are hiring good moving companies and not a company that has given others a problem before.
  • Be up front about what you are moving, where you are moving, and what your needs are.
  • Don’t hesitate to ask questions and get answers that you need before you get moving.

Do Something You Love

It can be difficult to find time in the middle of the moving process to do something that you enjoy, which makes it even more important to actually do so. It’s never a good idea to load yourself up with work and never give yourself a chance to do the things that you enjoy, especially if you are leaving an area for good. Plan parts of the move so that there are gaps of time integrated into the schedule that will allow you to get away. Consider a visit to a local park, event, or activity that you have enjoyed in the past or that you wanted to try before moving to your new home.

Similarly, when you get to your new place, don’t wait to get out and around to see what’s in the local area. The sooner you get involved in something in your new location, the easier it will be to integrate into that area and start your life back on the track you want it to be on.

Learn to Breathe

As things get more and more hectic and moving day approaches, it’s important to learn how to take a moment out to regroup. This can be simple, if you know how to breathe and how to turn your back on the chaos and center yourself. Some people might choose to meditate, while others should just sit back and concentrate on deep breathing exercises. Still others might choose to spend a half hour reading, walking around the block with the dog, or doing another quick activity that can help their mind return to where it needs to be. Regardless of what you do, have something on hand for the moments when your mind begins running away and when the chaos gets to be too much. Ultimately, taking these moments and walking away can be one of the more simple ways of taking stress out of the moving process.

The author of this article, Alyssa Sullivan, works with consumers to locate services offered by Moving Companies in US for all kinds of moves. During downtime, she loves learning and reading, as well as spending time with her cats.

 

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Mar 22

Real Estate Tidbits Worthy Of Discussing

Unanimous decisions regarding where, when and why families move seems to be one decision these working households are losing control of. Distressed properties, short sale flimflams and mortgage fraudulence rules the realty world behind the scenes, unfortunately. Families that simply wish to move to shelter themselves only want truthful information without affront attitude problems from pompous real estate agents. Here’s some quick tidbits you’ll need to run through before hitting the active home buying marketplace, written succinctly to protect your piece of American Dreams.

Approach Short Selling With Caution

A lot of people try to short-sell their house so that they can avoid the humiliation of facing foreclosure. While attempting the short selling process is definitely a far better option than waiting for a foreclosure to happen, there are some things you should know. There are a lot of myths surrounding the short sale proceedings to which you should not listen closely to. In order to help you understand the process of a short sale, there are vital facts regarding the proceedings that you should request from your real estate professional before proceeding as the incorrect short selling of valuable property could cost you dearly.

Really? No Money Down?

If only everyone has enough cash to buy their own dream homes, then there would be no need for mortgage. But the reality is that most of us can’t afford to pay the total amount for a nice dwelling in just one transaction, and so we need to borrow money in order to finance a costly purchase.

The past few years haven’t been kind to real estate. Prices went down; agents took in less money; people didn’t want to part with their hard-earned cash; and lenders were stricter. The recession might have caused real estate prices to go down, but citizens were being laid off and many were in need of money.

Lawyers Are Vital Components

If you are buying or selling property for your home or business, chances are that you need to talk to a real estate lawyer. Hiring one of the many real estate lawyers around you is especially critical if you live in bigger cities due to the complicated natural of real estate transactions. Chances are that you may not fully understand everything you need to know about what is involved with things like condo agreements, subletting an apartment, or buying a building, apartment or house in the city: your real estate attorney will. You may think that your regular attorney may be able to handle it when it comes to real estate, yet these lawyers are specifically educated to assist with various realty law components.

In Closing

Real estate disputes can spring forth from a number of things. Arguments over land ownership, property lines, and land usage can cause litigation that draws out for months to years. Ownership and use of properties can be suspended, and livelihoods lost over these disagreements. Some of these problems start out small, but have a way of snowballing into a mess than can leave you without a place to stay. Keep this in mind before jumping aboard whichever residential real estate company crosses your path.

If you are in the Houston area, look at this real estate broker in Houston.

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Mar 18

Thinking About Pros and Cons of Owning Recreational Property

Mountain land for saleMore than commercial value: the beauty of nature, the invitation for luxury, and the idea of “getting away from it all” remain some of the biggest draws for people looking into buying a mountain lot. There’s just so much more to be gained from a good mountain property or cabin lot than an asset for your portfolio. Whether you’re looking to invest or you just want a little freedom you should seriously consider the bounty of owning your own piece of earth away from it all.

Prominent Pros and Cons

For some of us dreaming of a summer cabin is an incredibly romanticized vision that has filled hours of free time. If this is you then it is important to consider the realities and responsibilities of owning a property up in the mountains. For many people the idea of owning a second home somewhere that the family can go and relax has never crossed their mind as a reality. You may be one such person, held back by ideas that only the most affluent can own a vacation property, but with the opportunities on the market today this just isn’t true. Whether or not you’ve thought about this before there is a lot you should consider before buying:

  • Getting Into Nature: Let’s face it, one of the greatest reasons for buying a mountain lot is to cut the digital umbilical cord of your children’s virtual generation. Kids benefit hugely from feeling the grit of dirt and basking in the warmth of the sun. It has been proven time and time again, the outdoors can greatly enhance a child’s balance and emotional wellbeing. As you look for a good location be picky! Choose a spot that just speaks to you, there are plenty of great locations!
  • Dealing With Remote Life: When it comes to nature, being out in it means really being in it and if you intend to build a cabin this can result in some significant adjustments. From wild animals as neighbors to hordes of mosquitos and termites in the walls, you need to be prepared for everything that Mother Nature brings. It’s important when looking for your property that you know what developments and utilities you expect. Some properties are provided with community amenities, others are as far off the grid as you can get, which means utilities are up to you.
  • Investment Property: If you buy up a mountain lot and build a modest cabin not only can you enjoy it for your family, but often you can rent it out to folks interested in a great vacation rental and make enough to cover costs plus a little profit on the side. Picking a prime location that’s both close to local sites and conveniences, but is far enough off the beaten path to make for privacy is an important feature in vacation rentals.
  • Maintenance: As mentioned before, a cabin up in the mountains is going to have some fantastic views, but when winter months blow in maintenance and utilities can become seriously troublesome. Take your time to consider how you’ll maintain the cabin, especially if you’re renting it in the winter, you may need to hire local property managers if you don’t want to make the trip up there on a regular basis.

Make sure to consider all your options and know how you want to use a your land before picking it, since this can help you really hone in on the perfect lot. And though there’s a lot to think about, don’t get discouraged there is mountain land for sale that’s perfect for you. You CAN have your land and enjoy it too!

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Mar 18

Property Management Companies Why Hire Them?

property managementDo you have multiple properties? Real estate properties can be an excellent source of income, but without proper management, they would be a dead asset. However, managing your property will require a considerable amount of time. With all the time that you spend for your family and work, it is more likely that there is nothing left for your property. Therefore, what can you do? The short answer to that hire the services of property management companies. Hiring their services could be advantageous to you.

Property Management Companies Provide Variety of Services

These companies provide services according to your needs, since they offer a variety of service packages. You can hire services that will save you from the headache of collecting rents and they can do more than that. Here are some of the services they offer aside from collecting rents.

  1. Fire Bad Tenants: Do you have bad tenants who refuse to pay their rents? If you have, then property managers or property management companies can help you. They will talk with your bad tenants and convince them to pay their rents, and fire them if they still refuse.
  2. Look for New Tenants: Are you having a hard time finding tenants for your property? Or, have you fired a new tenant and is looking for one? If the answer is yes, then it will be advantageous to hire the services of property management companies. Looking for new tenants will take time. However, you can save time by letting the professionals handle this matter. They have many connections and they can find tenants for your property in a short period of time.
  3. Maintain Your Property: You need to maintain your property if you do not want to lose it. Negligence in maintenance may cause irreparable damages to your property. Furthermore, if you often forget to pay your mortgage, you might end up losing your valuable property. To ensure that your property will be properly maintained, you can hire the services of property management companies. They can pay your mortgage, do repairs on your property, and ensure that everything is in good condition.

Property Management Companies Offer Flexible Fees

True, property management companies can help you with their services, but are they cost-effective? Yes they are. These companies offer different packages that come in various price ranges, allowing you to choose the one that is suitable to your budget. However, settling for lower cost packages also means that they come in limited services.

Many companies offer huge discounts if your property is vacant. Along with the discount, they will ensure that they will look for new tenants for your property. In this way, you are not only hiring their services to maintain your property at an affordable price, but also get an opportunity to earn income from your property.

Of course, the prices of service packages offered by property management companies vary according to the provider. Therefore, it is advisable for you to check out several companies in order to determine, which one offer the best price.

property Management companies How to Look For the Best Property Management Company

Many companies offer property management services, which makes it confusing to choose the right one. However, with a few pointers you will be able to choose which one offers the best services.

  1. Use the Internet: The internet contains tons of information. Therefore, you can use this to your advantage to help you with your search. Furthermore, reputable property management companies always have their own website to allow their clients to get in touch with them whenever they have queries. However, before accepting any services, you need
  2. Ask Referrals: You can also ask referrals from your friends, coworkers, and relatives who have hired property managers before. They can lead you to the company they trust as well as tell you about the companies that you should avoid.
  3. Compare Prices: If you want to get the best services at the most affordable price, you need to check out several property management companies. Once you have made a list of your prospective companies, you will be able to compare the prices and choose the one that suits your budget.

Managing multiple properties is not easy because you need to invest time and money if you want to make a profit from them. Fortunately, there are property management companies that can complete this task for you. They can maintain your property, collect the rents, as well as manage your tenants. With their services, you will be able to generate income from your property immediately. You can click here to get more details.

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Mar 18

Thinking About Pros and Cons of Owning Recreational Property

More than commercial value: the beauty of nature, the invitation for luxury, and the idea of “getting away from it all” remain some of the biggest draws for people looking into buying a mountain lot. There’s just so much more to be gained from a good mountain property or cabin lot than an asset for your portfolio. Whether you’re looking to invest or you just want a little freedom you should seriously consider the bounty of owning your own piece of earth away from it all.

Prominent Pros and Cons

For some of us dreaming of a summer cabin is an incredibly romanticized vision that has filled hours of free time. If this is you then it is important to consider the realities and responsibilities of owning a property up in the mountains. For many people the idea of owning a second home somewhere that the family can go and relax has never crossed their mind as a reality. You may be one such person, held back by ideas that only the most affluent can own a vacation property, but with the opportunities on the market today this just isn’t true. Whether or not you’ve thought about this before there is a lot you should consider before buying:

  • Getting Into Nature: Let’s face it, one of the greatest reasons for buying a mountain lot is to cut the digital umbilical cord of your children’s virtual generation. Kids benefit hugely from feeling the grit of dirt and basking in the warmth of the sun. It has been proven time and time again, the outdoors can greatly enhance a child’s balance and emotional wellbeing. As you look for a good location be picky! Choose a spot that just speaks to you, there are plenty of great locations!
  • Dealing With Remote Life: When it comes to nature, being out in it means really being in it and if you intend to build a cabin this can result in some significant adjustments. From wild animals as neighbors to hordes of mosquitos and termites in the walls, you need to be prepared for everything that Mother Nature brings. It’s important when looking for your property that you know what developments and utilities you expect. Some properties are provided with community amenities, others are as far off the grid as you can get, which means utilities are up to you.
  • Investment Property: If you buy up a mountain lot and build a modest cabin not only can you enjoy it for your family, but often you can rent it out to folks interested in a great vacation rental and make enough to cover costs plus a little profit on the side. Picking a prime location that’s both close to local sites and conveniences, but is far enough off the beaten path to make for privacy is an important feature in vacation rentals.
  • Maintenance: As mentioned before, a cabin up in the mountains is going to have some fantastic views, but when winter months blow in maintenance and utilities can become seriously troublesome. Take your time to consider how you’ll maintain the cabin, especially if you’re renting it in the winter, you may need to hire local property managers if you don’t want to make the trip up there on a regular basis.

Make sure to consider all your options and know how you want to use a your land before picking it, since this can help you really hone in on the perfect lot. And though there’s a lot to think about, don’t get discouraged there is mountain land for sale that’s perfect for you. You CAN have your land and enjoy it too!

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