Real Estate Investing Basics

Property management fees are daunting, how do you know what’s appropriate and what’s too much. We educate you to save you money on fees.

When people hear the phrase “rent control” they typically conjure up one of a few images in their minds. Tenants imagine easy street, a world where housing is ridiculously low cost. Maybe they think of rent control in NYC, where they saw the characters from Friends live in large apartments for far below market value.

If the person is a landlord or property manager, they think of reduced profits, and tenants who live in a unit for years on end, never paying market value for the property.

You absolutely need to ask these questions when you interview a property manager to identify if it is the right property management company for you.

The idea of buying an investment property is an enticing one. You love the idea of having a property that makes you money while having the potential to go up in value. Your city happens to be fantastic for rentals, and you know that finding good renters should not be an issue. There’s only one problem. You have no idea how to begin. You do not know the first thing about marketing and you have no idea what it would take to make sure you have good tenants in your property. It is far more difficult than simply throwing an ad up on Craigslist and calling it a day.

When you have a home that you want to use as a rental property, you may soon realize that you can’t take care of everything on your own. There is simply too much to do. You have to try to find tenants, screen them, and make sure that the property is well-maintained. It is not an easy job, so working with a Scottsdale property management company can be a big help.

When you are renting a property to a new tenant in Scottsdale, you need to make sure you are getting the best tenant possible. Part of that comes from actually talking with the applicants to learn more about them and to gain some insight into whether they will make a good tenant or not. The following are some of the most important questions that you need to ask the prospects. Keep in mind that you aren’t playing cop and trying to grill a suspect for information! You just want to make sure that you are renting to the people who are right for your property.

Why Are You Moving?

As a landlord, you want to have a good relationship with your tenants. You want to make money on your investment, and you want your renters to be happy in their home. However, many landlords who are new to renting do not understand some of the basic things that they need to do to help ensure this happiness. Fortunately, it’s relatively easy, and we’ll be covering some simple and effective tips to help you.

Make Sure They Understand the Rules

Landlords hate the idea of having a high turnover rate for their rental units. It means that the units are vacant too often, and that cuts into the amount of money they will be able to make. It can even cause issues with paying the mortgage of the rental unit on time, and that’s the last thing that a property owner wants to face. Knowing how to reduce the turnover rate is important for anyone who is a landlord. While you can’t always keep your tenants, you can do a few things that should help you reduce your turnover rate whether you own one property or a dozen.

Are you considering working with a Scottsdale property management company to help you with your rental property? Those who are new to rental investment might be wondering whether they should work with one of these companies and may have some questions as to what they actually do. While it is important to remember that each of the different companies may have different policies and features, they do offer some similar basic services, such as those below.

Marketing and Filling Vacancies