PROPERTY MANAGER SERVICES ENDED
Formerly, I was a full time, professional property manager. Unfortunately, due to the economic environment, and the high number of evictions and challenges with unexpected vacancies, I’ve found I do not personally respond well to these events. In point of fact, they depress me. GREATLY. For that reason, I’ve CLOSED my property management business.
Below, is what I used to do and be about:
We offer a comprehensive property management solution for investment owners of single family homes. If you own a single family home in Scottsdale, Phoenix, Tempe, Fountain Hills, Paradise Valley, Glendale, Peoria, Carefree, or Cave Creek, we may be the property management company for you.
You may be asking, what do we do?
- We get the property ready to be placed on the rental market. If repairs and/or cleanup is needed, before a tenant can move in, we coordinate those activities.
- We find you a tenant. That’s the #1 most important thing, and we’re good at it. To find you a tenant, we have a marketing plan that we have found is extremely successful in acquiring a qualified tenant in the shortest possible time. We will execute this marketing plan diligently, leaving no stone unturned. Since you are reading this on our blog, you can assume correctly that we use the blog to promote your rental listing. We also use cragislist, MLS, and our real estate sign in front of the property (where HOA provisions allow). We’ve used additional marketing vehicles with varying (often low) levels of success, so we focus on what works well, and skip the rest.
- We qualify the tenant. A background check is performed of the tenant prospects previous rental (when one exists), along with a credit and rental history.
- We perform a move-in inspection with the tenant. Upon move-in, we’ll be there to gather the remaining funds and hand over the keys. At that time, we’ll walk through the property, making note of any blemishes that the tenant observes, and more importantly, making note of the proper condition of the property.
- We collect the rent. An obvious need, but one that can take managing from time to time. We gather the rent from the tenant, process it through our broker’s trust account, and disburse the proceeds to the landlord each month. In the event that rent is late or missing, appropriate action begins no later than the 5th of the month.
- We support the repairs to the property. If you own an investment property, the two likely things you dislike about it are dealing with tenants, and dealing with the repairs. For small repairs, we encourage an agreement that allows us to make the appropriate repair, and then deduct the cost of that repair from the next rent disbursement. We do not charge any repair management fees whatsoever. Only the actual cost of the repairs will be forwarded to you, the landlord. For larger repairs, we will consult with you and gather multiple estimates for the repair. And in all cases, if you choose to use a home warranty company, we’ll route our repair requests through the home warranty company, if the repair is covered under the warranty.
- We perform a move-out inspection with the tenant. When the tenant moves out, we’ll be there again to walk through the property, and take note of the move-out condition.
What are our fees?
We have broken our fees into 2 items: A lease-up commission and a monthly management fee.
The lease-up fee is a variable commission fee, which is either 4% or 6%. If we acquire the tenant, and do not have to pay a co-brokerage fee, the lease-up commission will be 4%. If there is a co-broke via MLS, the lease-up commission will be 6%, with the commission split equally between the 2 agents. Because we really want to make 4%, we do a significant amount of online advertising to acquire the tenant.
The monthly management fee is a $100 flat fee. This fee covers all of the month-to-month management necessary, including the management of repairs and rent collection. Please note, that if you choose to be your own management company, and require only our tenant acquisition services, we will NOT perform a move-out walk through or manage any repairs associated with getting the property ready for rent. We will, however, perform a move-in walk through, and collect all money leading up to and including the first month’s rent.
Where do we service?
Our offices are located at the corner of Loop 101 and Bell Road in North Scottsdale. To provide the best possible customer service, we limit the area that we provide property management services to within 30 minutes of our office. Roughly speaking that extends south along the 101 through Tempe, and west along the 101 into Glendale. North of the 101 we service up into Cave Creek. Stated differently, we cover much of the Northeast Valley. Exceptions may be made on a case-by-case basis, particularly for past clients.
The reason we limit our service area, is because a significant number of tenant prospects call us while standing in front of the property, due to the sign. Often we will ask them to wait there, and come right over. A person will often agree to wait half an hour…but ask them to wait longer, and they’re likely to go to the next property down the street.
Also, the monthly rental rate for the property in question must be in excess of $1000/month, with a 1 year lease. At this time, we do not manage nightly or weekly rental properties.