When you have a good tenant, the first goal is to get them to stay. Finding a replacement takes time, and there is no guarantee that you will find a tenant who is just as good. While there are tenants who have to move because of financial reasons or other factors outside of their control, there are some things that your Phoenix property m...
One of the benefits of a living or revocable trust is that it allows an individual to remove property from his or her probate estate by transferring the property to a trust. Because the trust, and not the decedent, owns the property at death, the property passes under the terms of the trust and outside probate. One question I frequently g...
We discovered over the years that mandatory rent increase is not always the best thing. Service Star Realty boast a 75% tenant renewal rate year after year. This means that on average, a renter will stay in your rental home for 4 years while we are managing it.We do increase rents every time we lease a property or renew the lease but we u...
How to Handle a Security Deposit for Rental Properties
When you’re managing a tenant’s security deposit, you want to protect the condition of your property while avoiding a dispute with the tenants about how much is owed to them. The best way to prevent any disputes is by setting great expectations that are clear, to the point and are in writing.Document Property ConditionCreate ...
Maintenance and Repairs 101: How to Handle Maintenance Issues for Your Phoenix Rental Property
Our experience providing property management in Phoenix has shown us that it’s very important to deliver good and fast maintenance service. Be responsive to your tenants because when it’s time to renew the lease, this will be a big factor in their decision. It is expensive for you when a tenant moves, so you want to make main...
The Proper Way to Collect Rent on Your Phoenix Rental Property – Management Education
Phoenix property management includes collecting rent, and today we are talking about how to be very effective in collecting the rent on time every month. We’ll discuss late fees and the importance of consistency. Incorporate Late FeesIncorporate late fees in every lease agreement. The late fees you charge should be reasonable becau...
What Happens if My Tenant Damages my Phoenix Rental Property? Management Advice
There are a few things you can do to protect yourself against damage to your property. Today, we’re discussing the importance of talking to your tenants before they move in, inspections, and what kind of information you need to have on the application. Setting ExpectationsGo over every detail with the tenant when you’re revie...
How to Screen for the Best Tenant for your Phoenix Rental Property | Management Tips
It’s super-important to get good tenants in your rental property who pay rent on time and take care of the home so you don’t have any damage to deal with when they move out. Today, we are sharing a few pointers about screening so you can get the best tenant. Phoenix Property Management: Applicant Pool Make sure you have...
Why my Property Manager needs to be Additional Insured
Insurance is provided as protection to prevent loss in the event of an unforeseen circumstance. No matter what sphere of insurance you are speaking of, the ultimate goal is immunity. As a Landlord you deserve a sense of wellbeing knowing that your Property Management Company is just as protected as you are. Many homeowners inquire as to w...
How much do you as an investor need to budget on repairs and maintenance of your rental home? This can be one of the biggest unforeseen factors when you purchase an investment property and can make your investment a success as well as a disaster. Yes, it starts with the home inspection to make sure you will not have any immediate expenses...
