Let's talk Property Management and the Rental Market!
Why do people love Prescott? Prescott has a combination of great weather, access to biking, walking trails and still the small town feel. It is inviting, functional and overall the people are great. I moved into Prescott about 16 years ago and still feel like I am on vacation.
Prescott is inviting which has created a double edged sword. People love it here, and hear about it and want to move here BUT inventory is low for both re-sale homes and rentals. If you have a property to sell or rent out, NOW IS THE TIME! The statistics show it and we see it as we monitor the market.
Who do you trust to rent out your home or investment property?
It can be a tough decision. Here is a guideline of a couple of questions to ask when you interview a Property Manager to take care of your home or investment property:
1) What type of communication should I expect?
Communication is key and the number one complaint from owners. You should expect to be kept informed of every step of the way. What type of marketing and activity did you have this week on your property? Do you even know when you have an approved application? Did you get a copy of the signed lease.
1) What type of education do you require of your team?
Property Managers that invest in their time for education are proud of their knowledge and this is a large benefit to you, the client. When there are situations that may occur, their knowledge will be tested to come up with a solution to benefit all parties involved. Have a thinker on your side!
2) Are you familiar with the law?
Hire a property manager that is familiar with the ins and outs of the Residential Arizona Landlord Tenant Act. Will they be able to protect your asset when needed? Acting within the appropriate time lines will save you money as well. If a time line is missed, tenants can use the system to stay at the property for free. Knowing the law is priority!
3) Do you inspect my property regularly?
Hire a Property Manager who has your asset protection in mind. Inspections should be done before a tenant, during a tenant and after a tenant. They are your eyes and ears to the property. You should be regularly informed of any deferred maintenance items and have the ability to maintain your property as required by the law and for asset protection. If your property is not looked after then you could spend thousands at one time in preparation of a sale or to bring the property into good condition. Inspections during a tenancy also reduces the risk of damage, unauthorized pets or roommates in the property. They should be looking out for your best interest!
There are many other questions you can ask a Property Manager. Be prepared and take the time to properly interview. Real Estate is an expensive and large asset, it should be cared for by someone who takes it seriously and knows how to protect it.
Top Notch Property Management & Sales would love to interview with you. Come learn why we are Top Notch, why we put our clients first, how your property will be maintained and why knowledge is the key to good Property Manager.
No comments:
Post a Comment