Property Management

How to Choose the Best Property Manager in Gilbert Arizona

There are several factors that you must consider when hiring a property manager for Gilbert homes for rent by owner. You need a manager that delivers the best service and can help you in achieving your goals. Being a landlord can also be overwhelming; therefore, hiring a reliable property manager is essential to ensure business matters are handled efficiently and properly.

Below are five things to consider when choosing a good property manager:

1. How Does the Property Management Company Conduct Business?

It is essential to ask the right questions to understand how the management of the company works. Examples of items that you may ask about can revolve around:

Tenant screening
Handling tenant and owner funds
Tenant marketing and retention
An inspection of property, repair, and maintenance
Their procedure for rent collection

It is also essential to identify the objectives of the company. This is typically stated in their vision or/and mission statements and helps you in creating the right perspective of who they are.

2. Ask if They’re Licensed?

You should find out if the property manager is licensed and what type of properties they’ve managed in the past (or the ones they are currently operating) and ask them for a reference list. The Premier Housing property management has to provide you with the right documentation before you hire them. This is the best way to prove that their operations are legal.

By the same token, take into consideration other important factors such as property management fees and the property management contract. Additionally, read through the contract to fully understand their terms and conditions before making a decision to hire them.

3. Is the Lowest Rate the Best Way to Go?

Not necessarily so, it’s okay to set a budget, but hiring project managers with the lowest rates can end up being a bad idea because in most cases, you get what you pay for. If a project manager is offering inexpensive services, you should be leery. Another good tip, take the time to conduct in-depth research on their track record before hiring one. While professionals can be expensive, most reputable project managers are worth their weight in gold.

4. Is the Prospective Property Manager Punctual?

Meeting up with the property manager or their representative can help you gain more information about them and the services they offer, but if they are late for their first appointment, you may want to consider your other options. For those who arrive on time, ask them specific questions such as dealing with emergencies, property maintenance, and how they advertise the property. If they can’t answer these simple questions, it’s best to move on.

5. Did the Property Manager Make You Feel Comfortable?

Although some property managers look good on paper, they can not be the perfect fit for you, especially if they made you feel uncomfortable during your interview process. In such scenarios, it is crucial to choose a property manager that makes you feel comfortable and can answer your hard questions with ease.

Benefits of Using Premier Business Investments

One of the biggest things that Premier Business Investment offers its clients is high-quality tenants. Good tenants come through a process called tenant screening, this can be very hectic and requires a sufficient amount of experience and time to conduct the screening process properly.

Premier Business Investments has a verified and reliable tenant screening process that aids in selecting the tenants who pay rent on time and are considerate of others and their neighbors. If you need a high-quality property manager, go where other clients go at Premier Business Investments.

September 29, 2020/by Mark Lepire

Rental Expenses Landlords CAN’T Deduct on Their Taxes

Property Management

A property manager near me always dwells on taxes. Investors in rental properties have many expenses that can be deducted on their taxes. There are three primary groups expenditures fall into for tax purposes. The first group includes expenses that can be deducted in the year the money was spent. These expenses include routine maintenance and upkeep, management costs and fees, and home or neighborhood association dues.

The second group of expenditures are deductible , but over a period of years, not all in the year the funds were spent. This is called a depreciated expense and generally includes anything that lasts longer than one year. These kinds of expenditures include new appliances, heating, and cooling equipment, and the building itself.

The third group of expenditures cannot be deducted at all.

Some everyday items that generally cannot be deducted from your taxes include the following:

The cost of the land the rental property is located on. Land is considered to last forever and never wear out. However, the assessed value of the land changes over time, either increasing, or decreasing in value. In some states, the local taxes paid for the land are deductible. Others do not allow this deduction. However, the value of the land cannot be depreciated. If you own the buildings and do not own the land, the cost to lease the land is potentially deductible as an annual expense.

The fees paid to anyone for referring a tenant to you are capped at $25 for deductions.

Any amount paid over $25 as a gift for any purpose is not deductible.

If you allow family members to use a property without paying rent, you cannot claim the unpaid rent as an expense or a loss.

Certain expenses paid at closing will be deductible as business expenses in the year of the closing, but others will need to be included in the value of the property and depreciated over time. Some legal fees cannot be deducted at all.

You cannot deduct the difference in prime rent from the reduced rent charged when the condition of the property changes , or , changes in the neighborhood, or the community the property is located in changes and the rents the property commands are reduced by these market conditions. If a military base closes and the inventory of apartments exceeds the number of rental customers , you cannot deduct the difference between the new reduced rent and the original rent.

You cannot deduct the lost income from a unit or building that you take off the market. If a multi tenant building needs extensive renovations and you stop renting units , the lost rent is not deductible. This also impacts your depreciation.

Membership in a buyers club such as Sams or Costco cannot be deducted as a business expense. This is because it is not a necessary expense. However, goods purchased for the use in the business, like cleaning materials or copier paper used to copy leases can be deducted as business expenses. The same goes for social clubs where business deals might be discussed. Strictly professional trade organizations are generally deductible.

Parking tickets, safety citation fines, late fees on taxes are not deductible.

Business attire is generally not deductible. Attire that is “ specialized” like a work uniform with the company name is deductible.

Meals: if you decide to treat the staff to a “ lunch and learn” event, generally only half of the food cost is deductible. Only half the cost is deductible if the lunch is a reward for achieving a goal or just for recognition.

Attorney and legal fees are not deductible. This is why itemized settlement statements when buying or selling real estate are so vital.

Federal taxes paid are not deductible as a business expense. Generally, any taxes are not deductible.

Bribes, kickbacks, or anything illegal. Materials imported into the US illegally or fraudulently are also not deductible. Be certain that if you buy furnishings for furnished apartments, that the correct import tariffs are paid, and include that in your contract to purchase. Wages paid to workers “ under the table” are not deductible as a business expense.

Travel for a travel companion that is not a direct employee or owner of the business. Owner or staff travel for business purposes is deductible, but a non employee travel companion, or a spouse not employed or an owner is not deductible.

Late fees or collection fees that are deducted from a tenants deposit are not deductible as business expenses.

The Benefits of Using Premier Business Investments

The tax laws governing property management benefits are complex and varied. Premier Business Investments always works with our property owners to insure they receive the information they need to address the expenses with a tax professional. Premier Business Investments does not provide legal or tax advice.

As your property manager, we supply the detailed financial documentation our property owners need to work with tax and legal professionals. Advanced Business Investment strives to maintain close tenant and property owner communication. We employ the latest rapid online application and approval systems to engage prospective tenants early and with the least amount of difficulty for the tenant.

And lastly, we utilize online, and app based ,and call in systems to report maintenance issues. Our maintenance staff is on 24 hour call in the event of an emergency. Our goal is to manage all of the properties entrusted to us as if they are our own properties and to maximize the return on the properties.

August 20, 2020/by Mark Lepire

Investing in a Single Neighborhood vs Spreading Out Your Investments: Which Option is Right for You?

Property Management

As property investment is considered fairly low-risk compared to other types of investments, an increasing number of Americans have begun investing in property. If you’ve already bought an investment property and want to buy more, you’ve probably considered where you should be investing next?

Here’s something to think about, you should consider investing in multiple properties in the same neighborhood or diversify your portfolio by spreading out your investments to maximize your profits. Please continue reading to discover which option is right for you.

Benefits of Investing in a Single Neighborhood

Makes a 2nd Purchase Easier: If you have been managing a property in a particular area, you already know the neighborhood; however, you should also be familiar with your local laws, tennent demands, taxes, and insurance fees. This type of knowledge is very beneficial when buying another property in the same neighborhood.
Offers Good Returns: Buying another property in a neighborhood that has already been established as having a good ROI and cap rate is always a good idea and offers good returns on your investment. When you own a number of properties in the same market, it also creates positive cash flow. However, equally important, make sure you’re getting a fair market price based on the property’s location.

Benefits of Investing in Multiple Neighborhoods

Lowers Your Investment Risks: There are many reasons why diversifying your portfolio is emphasized in relation to any investment. Whether it’s stocks or property, diversification lowers your investment risk. Although the housing market is not as volatile as the stock market, there is always the very real possibility of negative changes in the market. These can come in the form of natural disasters, such as tornados or earthquakes that can create extensive damage to your home coupled with pricey repair bills. Alternatively, these changes can also come in the general depreciation of the value of a neighborhood. What once was a respectful neighborhood may no longer stay or be that way in the future. Moreover, by spreading your properties out, you are minimizing your potential losses and lowering your investments risks.
Future Appreciation: By buying multiple properties in different areas, it is almost guaranteed that the price of at least one of your properties will greatly increase in the future. This is due to new infrastructure and regeneration projects being built in the area, specifically designed to breathe life back into that location. For example, if a new mall is built near your home or if a new canal or garden is created close to your location, the price of your home will go up. To fully capitalize on this aspect, you should be looking into noteworthy future architectural changes and other projects taking place in the areas that you to invest in.

Why Hire Professional Property Management Services?

If you’re still unsure about which option would suit you better, you should hire Premium Business Investments to let us help you with your property needs. We will analyze the market and come up with the most suitable plan that meets your requirements. Investing can be tough, so let our experts take care of the nitty-gritty for you by contacting us today and discover a wide range of options that’s right for you.

July 24, 2020/by Mark Lepire

How to Quickly Determine the Value of an Investment Property

Property Management

Investing in property can be a tricky business as you need to ensure that the residence you’re buying has a good resale and rent value. This can be determined by location, quality tenants, and a number of other factors. If all of this sounds overly complicated to you, make sure to read through this quick guide that breaks down the value of property management companies and lets you make better financial decisions.

Here are three pro tips you can use:

Pro Tip #1: Calculate Rent Based on Comparable Sales in the Area

Before expecting to make any returns on a property, you need to have the price range validated by the volume and prices of houses that are being sold or rented out nearby. Avoid looking at national prices, just focus on the specific neighborhood where the sale is being made.

If you’re planning to sell or rent out a house immediately as a secondary property, this step is crucial to learning your margin of profit. However, if you’re a homeowner looking to buy your first residence or flipping it, you need to consider the location of the area as well as the following questions:

Are there hypermarkets nearby?
Are there schools nearby?
Is it conveniently located?
Is it in a good neighborhood?

All of these factors will increase resale and rental value, even if the property might be more expensive for you initially.

Pro Tip #2: Calculate the Rate of Investment (ROI)

Once the ideal location has been established, a better way to calculate your profits from rental properties is with an ROI. Below is a simple list that explains the basic concept of the ROI:

1. You buy a house for $400,000.
2. You rent out the property for $3,500/month.
3. The upkeep of the house costs you $400/month.
4. The ROI is the percentage of your profit per year, and it’s essentially a percentage of your earnings. For example, let’s say your annual income is $3,500 x 12 – $400 x 12 = $37,200. Therefore, your ROI per year is 37,200/400,000 = 0.093 or 9.3%.

It is essential to use the ROI to get an estimate of the number of years it will take to earn back all the money spent on the property and start making a profit. When you have a couple of houses to buy in mind, you should use ROI to compare them against each other to find the best bang for your buck.

Pro Tip #3 : Compare the Price Against the Quality

To maximize your profits, you need to be able to know whether a property is a good investment or not. Namely, is the price demanded for the house on par with the quality? Do excessive renovations need to be made to a house?

If you overpaid for a rental and end up splurging on renovations to make it attractive to prospective clients, the only way to recoup your losses is by charging your potential renters more. This drives away clients and guarantees loss. Always get a second opinion from an unbiased property manager before making a purchase.

Live a Stress-Free Life by Hiring a Property Management Company

If you have one or multiple properties that you want to rent out, use Premier Business Investments for a smoother ride. Our company has the marketing experience and resources to handle any matters related to your property from advertising to prospective clients to maintaining a property in a good condition. For more information, simply contact us today and get ready to maximize your property investments.

July 10, 2020/by Mark Lepire

How to Prepare Your Home for Your Next Tenant

Property Management

Do you own rental property? What are your top tenant acquisition and retention strategies? Compelling listings, maximizing on local amenities, and excellent communication deliver on your ROI. Then, why not start by preparing your home for your next tenant with your property manager? Yes, you want to remodel, clean, and carry out all necessary repairs and maintenance. Then, here are some tips to get you started:

The Walls – Cleaning, Sanding, Repainting

Walls need to be free of any imperfections. Also, inspect them for scuffs, marks, or scratches from the previous rental period. To do so, organize for a thorough cleaning session. Use grease-cutting soap or residue cleaning detergent depending on the type of dirt on the walls. Finally, use a damp cloth to wipe off in preparation for repainting.

Do you see any rough spots after cleaning the wall? Sand it to even it out. Then, check on the condition of the paint. Is it flaky or cracking? Correct it before applying a fresh coat of paint. Continue with sanding and scraping to get rid of all flaked or cracked paint.

Next, pick a neutral shade for your primer or a fresh coat of paint. The paint makes the rooms look spacious, sparkling clean, well ventilated, and cozy. Plus, such colors complement any home décor theme. Next, pick a sheen that is easy to clean and maintain. Then, use appropriate painting tools that include rollers, brushes, sprayers, and protective eyewear.

The Floors

When a tenant moves out, use this time to upgrade your flooring. For example, most tenants prefer wooden floors due to their durable and easy to clean condition. Then, get rid of the worn-out carpets in exchange for the latest hardwood floor design.

But, if you intend to stick to your old flooring, inspect it and make appropriate renovations to improve its condition and appearance. Do the floor renovations last? Otherwise, you may have to redo it due to dirt and scratches while renovating the upper sections of the house.

The Appliances and Amenities

Your Property Investment Consultant will tell you that appliances are one of the top features tenants look at in deciding whether to rent your premise or not. Likewise, a little improvement or change in such amenities can help you to increase your rental fees substantially. These appliances are large and costly to the tenant. Yet, the tenant needs them for convenience around the home. Then,

Inspect your current appliances for any leaks, cracks, or malfunctions.

Confirm that doors to your oven, refrigerator, or washing machine have a tight seal.

Check the drip bowls, coils, hoses, and vents for molds, dirt, or debris.

Conduct a spring cleaning exercise for all your appliances.

Check their expiry dates and power or fuel consumption.

Categorize your equipment in readiness for repairs or replacement.

Involve a certified technician to handle the repairs.

Upgrade your old or damaged appliances to the latest models that use smart technology.

Other amenities include air conditioning, lighting, security systems, water systems, storage facilities, and off-street parking.

The Common Rooms – Bathrooms and Kitchens

Bathrooms and kitchens are high traffic areas. Check out these ideas to get these areas ready for the next tenant:

Work on an energy-efficient theme. Get rid of all non-essential electrical gadgets that increase your monthly utility bills.

Upgrade your kitchen countertops to a granite finish.

Create a kitchen island with all the bells and whistles for a contemporary look.

Switch to a walk-in shower instead of your current bathtub.

Install a trendy showerhead, faucet, and storage facilities for your bathroom.

The Outdoors

Finally, your curb appeal matters to a new tenant. It is what creates the first impression of the property. You can:

Clear out any overgrown grass and weeds in the backyard.

Bring in new batches of plants and flowers.

Define your walkways with flagstones.

Incorporates a centerpiece sculpture at your parking area with ample lighting to highlight it.

Add bird baths for that early morning chirping

Insist on creating a symmetrical effect around your doors, windows, roofs, and outdoor furniture.

Final Verdict

Note that the best way to prepare your home for your next tenant is by making it a clean and functional dwelling. Tenants are more concerned about their safety, health, and convenient living. For this reason, it is important if you get innovative with the latest trends in home remodeling.

Where you need professional help, make Premier Business Investments your choice property management company. We manage various rental properties including, patios, condos, and single-family homes in Arizona. Plus, we offer maintenance and rent ready repairs services. Then, get in touch for any clarifications about preparing your home for a new tenant.

June 24, 2020/by Mark Lepire

Showing and Marketing Your Rental Property during COVID-19

Property Management

The COVID-19 outbreak is presenting unprecedented challenges to property owners—the virus did not get notice that vacant property still needed to be filled. With social distancing guidelines in place, it is very risky and daunting owners questions to showcase rental homes to potential tenants. However, the “stay-at-home” orders are exempting key real estate activities, particularly property viewing, since residents still need to locate ideal places to put their heads. Before showing and marketing your rental property, it is important to check your state or local restrictions on real estate activities that protect landlords and their potential tenants. In this blog, we share ideas on how to effectively and safely show and market your rental property during the pandemic to limit the risk of illness exposure.

Local Leasing Channels and the Use of Technology

When leasing a home, innovation and technology are crucial for every property owner. Even without considering the COVID-19 crisis, investing in technology always comes in handy, especially during an emergency. Although tenants may still want to rent homes, they may not be comfortable going to view the property in the presence of a leasing agent. Thus, a lot can be done by the property owner to ensure that their viewing is still conducted, ranging from providing hand sanitizers and masks to using smart keys and lockboxes that enable tenants to view property even without the presence of an agent.

With technology, tenants can eliminate “in person” contact during a property viewing. For instance, questions regarding the property can be answered via a phone call, while apps like Zoom and Skype could help to arrange for interviews with potential tenants. As for showing the property, property owners could use online photos and property management apps and software to show the property virtually, evaluate applications, and sign the leases even without meeting the tenant in person. Furthermore, deposits could be collected through Venmo, Zelle, and PayPal.

Online Advertising

It is also the job of property owners to ensure that their property is marketed to potential tenants. And the COVID-19 crisis has changed the property listing processes; tech-savvy investors are now listing their homes online, giving video tours online, and investing in quality property photographs. Property owners have equally embraced the “green” business ideology, in which they use electronic signatures.

Online marketing platforms can be used to reach a pool of tenants. As a homeowner, online marketing can help you get access to a large number of tenants who view your listings, schedule showings, and spend time knowing about the property. With the right technology resources, you can partner with plenty of residential tenant services to get your property listed on several sites.

Social media also remains a significant property marketing platform. Locked down at home, many potential tenants spend most of their time on social media. First of all, ensure that you are present in all the social media channels that generate real estate leads. Understand the format and type of content that every platform uses to create unique posts. As a property owner or real estate agent, you should also include the right hashtags with every post, as this will boost your marketing efforts. Generic hashtags such as #realestate, #homestolet, #housestorent will help to expand your reach to property buyers.

Application and Leasing During the Crisis

With the low demand for housing, no property owner wants to delay the leasing process. Everyone wants their home to get rented, and tenants want to move to a well-maintained clean home. You should, therefore, make sure that your application is completed online, and the process of sending supporting documents such as pay stubs and driver’s license should be easy for all the tenants. With paperless leasing, you will not have to worry about printing papers, filling forms, making copies, or manually distributing the forms.

Conclusion

Amidst the COVID-19 crisis, tenants still want to view and rent a property. But they won’t want to risk their lives by hanging around a leasing agent. Premier Business Investment allows you to learn how to give your tenants a complete tour of your home alone. The company will also give you a range of technology products that will support your showing and viewing processes. Premier Business Investment ensures that you have an efficient home leasing process that is exposure-free.

June 4, 2020/by Mark Lepire

When Should a Landlord Hire a Property Management Company?

Property Management

You have a lot of property.

Managing a vast property can sometimes be very tiresome since it involves a lot of movements and thinking. Again, managing a lot of records is a lot of work for one person hence the need to have a dynamic and a good experience property management company running your rental duties for a cost. Having too many tenants means a lot of complaints to be handled by one person. Having property management services will help to ensure your tenants are happy when the complaints are responded to promptly. You are committed to corporate employment.

You are committed to corporate duties.

Running Office works parallel to the rental investments can sometimes leave you with headaches. Corporate duties require a lot of attention and commitment, and so are tenants’ demands and other rental business activities. Managing these two duties will call for you to quit one duty. You don’t have to leave your job to manage your property; you can employ the services of Premier Business Investments to help you kill two birds simultaneously.

When you live away from your properties

If you live away from your property, it can be a good idea to have your property managed by a property management company. Being a landlord has many responsibilities that you cannot handle when you live away from your properties. Some needs of tenants are too urgent and can be expensive when not attended to promptly. Imagine a gas leak in the middle of the night? Managing such urgent needs can be easy if you live at the premises since you can quickly get to the gas room and shut the gas channels. Living away from your premises could result from a fire outbreak.

Ease of handling repairs and maintenance

Fixing house damages can be very tiresome and require specialized expertise that a landlord may not possess. Handling the damages can also require someone interested in taking up challenges of fixing specific issues. Hiring handymen to correct such damages will require expenses that’s could otherwise be eliminated by hiring a property management company. Property management companies have all the staff with relevant expertise and experience to handle any house damages, and the cost will be covered by the company.

Handling rent collections and dealing with evictions

Tenants sometimes require coercion and reminders for them to submit their rent. Sending reminders and messages to all your tenants can be tiresome and can only be handled by a property management company. In case the tenants refused to pay their rents continuously, eviction is necessary. As a landlord, evicting a client is a long process that could be shortened and made easier if you hire a property management company.

You can afford the cost of hiring a property Management Company.

Real Estate Management companies charge a percentage ranging between five and ten of the total rent revenues. Supposed your property is generating much and you don’t have loans and other obligations to settle, then you can seek the services of property management companies at an agreed cost. The rental costs can also be determined by other factors, such as economic recessions. Suppose you still have enough funds to foot the property management bills; you can continue with the services; otherwise, it’s empirical you terminate the services.

You have limited time.

Managing rental properties requires you to devote a lot of time to the management. You may also have other duties to attend to, such as young kids and office duties. Management Company will be helpful on such occasions since they will oversee all the management services such as renovations and repairs.

Your property is part of an affordable housing program

Being part of an affordable housing program requires a landlord to comply with certain regulations and laws. These laws require expert management who have experiences in tax, interest rates, and tax credit management. To ensure full compliance with some requirements, you can hire a property management company to ensure you receive grants, loans, and tax credits from the government.

Why hire Premier Business Investments

Premier Business Investments has been in the business of property management for a long time now. Hiring us will introduce first-class expertise and long term property management to your business. We have all the relevant experts committed to ensuring your tenants are happy to stay in your property and are willing to further extend their house contracts. We charge affordable costs and are ready to negotiate the terms when the house rental markets are faced with turbulence such as economic crises and other pandemics. Our services are rated five stars, and we guarantee first-class services at an affordable cost when you hire us.
You can contact us through our company website or send us an email, and we will be available to help you manage your property.

May 18, 2020/by Mark Lepire

Property Management vs. Self-Management: What’s the Difference?

Property Management

Real estate is a beneficial investment opportunity; once one has rental properties and is selling in the market, the next thing an investor needs to figure out is how to manage the property profitably.

In the market, there are two ways to manage property in today’s world; we either manage them as self, or we engage the services of a property manager. Property management entails many aspects on a daily:

Fielding complaints
Enforcing the lease
Finding new tenants when vacancies occur
Tenant screening
Making repairs when needed
Moderating issues between tenants
Determining rental rates
Evicting a tenant when need be
Advertising your property

Given the many responsibilities involved in property management, it is easy for the owner to decide on who takes care of the property. Property management saves one time and effort while at it; things are taken care of professionally and speedily, whereas self-management saves money.

Self-management

In self-management, the landlord is also the owner of the property. Tenants come to the landlord who is the owner when paying rent and when needing repairs for their household.

In property management, someone else manages the property on your behalf but at a fee. The manager handles the day to day tasks and ensures that your property is profitable and maintained to avoid spoilage of one’s investment.

Differences in Self and Property Management

In self-management, we have more financial savings since the landlord the one managing the property and collecting all the rent. In property management, the owner has to pay agent fees.
In property management, the property managers have experience in the industry and know the dos and don’ts, not to mention a quick turn around when problems occur. In self-management, the owner who doubles up as the landlord has no experience in the industry and is exposing himself to legal risks and fraudsters.
In the event of vacancies in the property, a property agent will know how to screen potential tenants, unlike as they have the experience to weed out tenants who are likely to default; a self-manager will not have the same privileged because of lack of skill and experience.
In self-management, the owner has greater control of the property, unlike when the property is in the hands of property management, where the manager has no relationship with the property and handles it like a business.
In self-management, the prices set as per the discretion of the owner, which may be too low or too high, too little may mean the owner is running losses, and to high may mean the owner is not attracting customer, thus a loss situation. When a property agent manages the property, the reflects amenities and the location of the property.
In self-management, the owner is guaranteed of the returns and sure of the cost of repairs as they are in touch with the property. When the owner has engaged the services of the property management company is some instances, they tend to be fraudulent and steal from the owner by having unnecessary repairs, not to mention not depositing the rental income.
In property management, the owner has time to handle other businesses as they have someone watching their property. In self-management, the owner has limited time between their job and the management of the property as the owner has other priorities.

Overall it is better to find a property manager. One of the best property management companies is Premier Business Investments. They are known for their specialized services, and some of heir benefits includes.

Broken Doors and Locks Policy.Where when they have a broken lock or door, the tenant has an available spare key to use as an alternative or instant repair services where a locksmith goes to fix the tenants’ door.
Air conditioning services. During summer, the heat in the living room is not an added advantage, and therefore if the air conditioning is broken, then a repairer is asked to go to the specific apartment and fix the problem.
Bathtub and drains. Once in a while, the bathtub and drains get blocked, and one needs the services of a plumber to come and fix as Premier Business Investments is responsible for allocating a plumber to go and fix the two aspects.

May 2, 2020/by Mark Lepire

Top 10 Most Common Property Maintenance Issues

Property Management

When it comes to property management and resident services, maintenance is at the top of the list. Whether a resident makes a service request or the community pool is on the fritz, good maintenance really shines when it comes to property management company Gilbert AZ. If you don’t stay on top of repairs and requests, it can lead to tenant turnover and even more expensive problems.

There are some common property maintenance issues that always pop up. Preparing for these in advance can help you diminish problems for residents and your company.

1. Air Conditioners Gone Bad (14.2% of all maintenance requests)

It’s summer, and surprise, surprise, 15B’s air conditioning is on the fritz. Why is it that air conditioners always seem to go out when there’s a heatwave? Most likely, they’ve been running off and on, but now they’re running more than ever, causing belts to break and leaks to open up.

If you don’t get your HVAC fixed within 3 days, you will likely also see a complaint. This is a time-sensitive repair, so your tenant won’t be happy if you put it off more than a day. It’s best to keep an HVAC specialist on call during hotter months as well.

2. Broken Doors and Locks (Nearly 12% of service requests)

Have you ever had a tenant locked out or an old door key that suddenly breaks? In any case, your tenant can’t get inside, and the first person to call is property management. While it’s helpful to have spare keys, you may also need a locksmith if you want to fix the issue and make your rental accessible to the tenant.

3. Commode Woes (8.3% of property maintenance requests)

The toilet is running, and if you don’t catch it, the tenant is going to have a flood of issues. If the toilet clogs, there may be leaks, flooding, mold, and tons of other problems if you don’t fix it right away. If you don’t have a good plumber on staff, then you should definitely have a local plumber on call to handle these problems. If not, you could have to deal with an entire bathroom remodel from mold and mildew, not to mention the pissed off tenant.

4. Bathtubs and Drains (7.5% of all requests)

Plumbing issues take the cake when it comes to property requests. Baths and showers are necessary, but when your drain clogs or leaks, there’s likely a sealant issue or something going on in the pipes. Either way, you won’t know until you get a plumber to take a look.

These problems may also take multiple hours and parts to fix, which can be pretty costly. This is why it’s essential for property managers to inspect bathrooms and fixtures once a year.

5. Sinks in Trouble (Just 5% of all requests)

Clogs, leaks, drips, cracked hoses, smells, and an assortment of other mysterious problems could be lurking under the sink. Many property maintenance requests focus on the sink, and while it may seem like it should be easy to identify these problems, leaks and stopped water aren’t always simple to fix. An expert plumber may be able to fix it in one visit, but more than likely, you’ll need a replacement part, which could take some time.

6. It’s a Not-So-Frigid Situation (Almost 3% of all requests)

Property managers have found that while some fridges may last, there are always newer fridges with smart features, water filters, and custom settings. How much do you know about checking the LCD panel and temperature gauges of your smart fridge to ensure that it works properly? If you have a fridge on the fritz, then you’ll need the warranty and customer service number for the manufacturer first. If that doesn’t cover the problem, then a specialist is your next best bet.

However, again, you don’t want to wait too long to fix a bad because tenants won’t want to waste groceries and frozen goods.

7. Lights Out (2.7% of requests)

From a short in the socket to lighting fixtures that break, there are all kinds of reasons that lighting can go awry. Most tenants will get their own light bulbs, but if light keeps flickering, then you may need to check on electrical and get an electrician to fix the issue once and for all.

8. Shower (2.7% of requests)

Another plumbing problem that may require some expertise. Showerheads break, water comes out cold, clogs and leaks are all issues that tenants report when it comes to the shower. While you may troubleshoot the issue, you will likely need a plumber who knows what they’re doing.

9. Garbage Disposal (2.6% of all requests)

What’s that smell? Is it even on? Something’s stuck in the disposal! If you have had garbage disposal for any length of time, you know how difficult it can be to stay on top of this appliance. Typically, disposals need to be cleaned out every year, but tenants won’t do that. It’s up to you to stay on top of the disposal issues.

10. Appliances: Dishwashers, Ovens, and Washing Machines

Some of the other common property management questions you’ll see, particularly in an apartment complex, have to do with appliances. From electrical to burnt-out ovens to unplugged dishwashers, broken appliances require some troubleshooting first. In some cases, it could just be unplugged.

What Can You Do If You Own Property?

Service requests don’t have to back up and be a nightmare, particularly if you are too busy to handle these issues. There’s no reason why you can’t hire a company like Premier Business Investments to help you manage the property and take care of all service requests. It’s what we do best, and our clients and their tenants love our speedy staff and reliable service.

April 3, 2020/by Mark Lepire

Benefits of Using A Property Management Company

Property Management

Many people think about buying investment rental properties but are oftentimes afraid of having to deal with all the hassles that come with being a landlord. Screening tenants, handling maintenance and repairs and the inevitable evictions are all part of being a landlord. Because of these issues, many people give up on their real-estate investment goals without ever considering all of the benefits of using a property management company.

Hiring a professional property manager Gilbert AZ service can remove virtually off of the headaches that are associated with owning rental properties, as a management company will handle all of the day-to-day responsibilities of renting and maintaining your property. Here are the major benefits of using a property management company:

Tenant Management

A quality management company will have the experience to properly screen applicants. This is probably the most critical step when considering a tenant for a rental unit, as it can sometimes seem like it takes an act of God to get a bad tenant out of an apartment. In the meantime, the tenant is living rent-free and may even be causing damage to the unit. Here is where a management company can help keep the bad apples out by running criminal background checks, checking credit histories, confirming employment and checking past rental references. Having a property management company screen your tenants will help ensure they will pay their rent on time and cause fewer problems. Additionally, tenants that are professionally screened typically rent for longer periods of time, so there will be less turnover of tenants.

Rent Collections and Evictions

Handling rent collection is the linchpin that will make or break an investment property. Mortgage costs, taxes, insurance, building repairs, and regular maintenance costs occur on a regular schedule and add up quickly. This is why consistent and positive cash flow is paramount to keeping the bills paid and the long-term success of the property. Professional property management companies are experts at making sure the rent is paid every month and in a timely manner. Most tenants understand that a professional management company has a job to do and very a no-nonsense way of doing things. Therefore, most tenants are much more likely to comply with the terms of the lease when dealing with a management company, as opposed to an owner-landlord. Additionally, when necessary, the management company will handle the not-so-pleasant task of evicting a non-paying tenant. Most states have very strict laws regarding evictions, and a professional property management company knows how to handle every step of the process.

Investing in Different Areas

Investors who manage their own properties are more or less limited to a specific geographical region close to home. However, there are professional property management companies in virtually every area of every state on the U.S. Many companies will have branch offices in other cities and states where you may be interested in investing, so you may even be able to have the same company handle all of your property investments located in the same state or across the country.

Property Management Company Costs

Because hiring a professional property management company will save you from having to screen tenants, free you from having to make repairs, collecting rent, fighting with tenants over enforcing lease term and dealing with evictions, in the end, you may actually come out ahead financially.

At Premier Business Investments, we are a professional property management company that has years of experience getting paid to be the bad guy. With Premier Business Investments as your property manager, you will never have to deal with the hassles of being a landlord. Our fees are very reasonable and can be less than the cost of having to evict just one bad tenant, and because we are so good at what we do, that is an expense that rarely occurs. Call us today to see how much time, money and hassle we can save you by taking the burden of managing your investment rental property off your back.

February 18, 2020/by Mark Lepire