FREQUENTLY ASKED QUESTIONS
At Premier Business Investments, we believe in honesty and communication. This includes answering frequently asked questions to help you stay educated and informed. We invite you to review our FAQs to understand more about how we manage or rental guide to property in the East Valley, and the surrounding areas.
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What type of rental properties do you manage?
We specialize in single family, condos and patio homes throughout the East Valley & South Valley.
What areas do you handle?
Our Property Management service area is throughout East Valley & South Valley.
What Property Management experience and credentials do you have?
PBI offers you the level of experience and expertise you should seek from any property management company you hire.
How big is your staff?
Our team consists of: Property Managers, Licensed real estate broker, administrative staff, and a core group of highly qualified vendors, Licensed by the state of Arizona.
Why should I hire you as my Property Management Company?
You should hire us only if you think we are the best match for your property management needs. Frankly, we are not a perfect fit for every property owner and it would be arrogant and wrong for us to simply proclaim “we are the best, hire us!” We may be the best property manager for some owners and properties but not for others.
That is why this FAQ page exists so that you can learn about us and the guiding principles the property manager will employ in the management of your property.
Turning over your rental property to the care of an unknown property manager can be an emotional and frightening experience. Talk to other property managers before hiring one, and ask questions. You want to be able to trust your property manager so that you won’t be worrying about your home. The more research and information you gather, the better you will feel about your final decision. Of course, we’d love the chance to earn your trust and manage your property.
How much will my house rent for?
The most important thing to know is that the rental market is indifferent to your mortgage payment amount. The rental market does not care that you might have a negative cash flow, and will punish with extended vacancy owners who overprice their rental homes. When you hire us as your property manager, we will look at the rental market in your particular area, survey the competing homes, and make sure your home is priced so that it will be viewed favorably against the competition.
What will you do to rent my house?
We will give it maximum exposure while it is for rent and we carefully scrutinize all interested parties.
FOR RENT SIGNS – Posted at the property with our website and phone number clearly displayed. Prospective renters can find out very easily – even at 7PM on a Saturday – the price and size of your property and when it will be ready for move-in.
INTERNET LISTINGS – Our available homes for rent in the Property Rental Management area are posted online complete with photos, maps and property details for the convenience of those searching for a new home.
WORD OF MOUTH / REFERRALS – Current and past tenants, friends of our tenants, referrals from other agents that we network with.
CORRECT PRICING – Even the best and nicest homes will not lease quickly if overpriced. We make sure your rental home is priced according to current market conditions.
THOROUGH PREPARATION – Even the best located and well-priced rental homes will not lease quickly if the rental home is not in top showing condition. Homes for rent must show well and have an attractive “curb appeal” or they may sit empty for extended periods. Part of our job as property managers is to make sure your rental home is presented in a clean and attractive condition so that it will attract a good tenant.
What, specifically, do you do to qualify a tenant after they have applied to rent my house?
This is the most important aspect of the successful management of rental property. We typically do application processing in-house. We don’t send the application to a third party for processing, as do most other property management companies. In general, we look at an applicant’s past behavior and assume their future behavior will be the same. An applicant must demonstrate a history of being a good, responsible tenant or homeowner as well as meeting credit standards. At Premier Business Investments our standards are high, No one screens their tenants as well as our property management team.
LANDLORD REFERENCES – We personally talk to past landlords and ask detailed, open-ended questions about the applicant’s past performance.
CREDIT REPORT – Our property manager and leasing agent has a direct connection with the Credit Agency reporting service. We obtain a credit report that tells us the applicant’s current and past performance toward meeting their financial obligations. It also tells us their monthly debt, credit score, and shows their previous addresses (which we compare to addresses listed on the application). An applicant must meet established credit standards.
EMPLOYMENT/INCOME – We contact the employer to verify length of employment, status, and income. An applicant needs to have worked at their current job or passion for at least one year to qualify for rental and we will want to see a copy of their pay stub.
PETS – We don’t generally permit animals/pets into managed properties unless you allow us to do so, however, 70% to 85% of renters have pets. When we make the decision to accept an applicant with pets, we minimize your risk by limiting the breed, age, number and size of the pets. We are careful in selecting tenants who wish to bring pets with them.
OTHER FACTORS – Many of our managed properties are subject to Home Owner Association restrictions such as no boats or trailers, and limits on the type and number of vehicles. An otherwise qualified applicant may be unable to lease a property if, for instance, they own a boat and want to park it in the driveway. We make sure issues like that are covered up front to avoid surprises after move-in.
How do you make sure the tenant is taking good care of my home while renting?
There are several ways your property manager has to know this. Above all, careful tenant selection from the outset protects your property from being rented to irresponsible people. During the lease term, we may have occasion to enter the property for repair or maintenance reasons and will use that opportunity to have a look. If we are fortunate enough not to have any repairs or maintenance at your property over an extended period of time, your property manager will schedule a preventative maintenance walk-through to make sure the air filter is being changed, that the smoke alarms have batteries and that there are no unreported problems at the property.
What do you do if they are not taking care of my property as they should, or you discover unauthorized pets?
Your property manager gives the tenant an opportunity to correct the situation and usually they will. If a problem persists, we will make a decision based on that specific situation.
How informed will I be about what happens with my property?
Absent any special considerations unique to you or your property, our rule of thumb is this: If something may cause a potential interruption in your ordinary cash flow, we will let you know about it right away. Other than that, the saying “NO NEWS is GOOD NEWS” is most appropriate. Non-emergency items will be communicated along with your monthly statements and, of course, we encourage you to contact the property manager anytime you have a question or wish to discuss something.
We know some owners desire a level of involvement that our property management system is not designed to accommodate. We try our best to make sure you are a good match for our style of property management. Part of that process is this Question and Answer page so you can obtain a sense of how we think and how we will manage your investment property.
If you are a worrisome property owner or someone who desires a high degree of personal involvement with the property or who needs constant communication from the property manager, such as a phone call before any repairs are completed, we are not a good match for your needs. The property owners who appreciate us the most are those who truly want everything handled for them turnkey and don’t want to be bothered unless something important is happening. That is the type of property management service we offer.
How do you handle maintenance requests?
Tenants call their requests to our automated repair system. After we receive a repair request, the property manager may contact the tenant and ask them questions, which will help us, determine the exact nature of the problem before sending a service technician. We also make sure it is not something the tenant can fix themselves (ex: reset button on the disposal, tripped breaker) before your money is spent on a service call. After determining that it is a legitimate problem, we will send the appropriate service vendor to make the repair.
We tell our tenants that we are able to handle most repair requests within 1 to 3 working days, and in fact are usually able to do so. Comfort items such as Air conditioning, no hot water or heat, receive highest priority and are usually attended to the same or next business day.
What if I want you to use my plumber, A/C Company, etc.?
If you would like to nominate a service company to be added to our vendor list, they can contact us and we will interview them and let them know what documentation and references we need, what our invoicing and payment policy is, etc. We cannot guaranty however that your favorite company will be sent on all service calls to your home. Our concern is always to resolve repair problems in the most efficient way possible with the best available vendor at the time. Property managers can’t keep track of a pre-established roster of vendors assigned to certain properties – it would be a cumbersome and inefficient property management system and would not achieve the best service to the tenant and your investment property.
Our professional reputation as property managers, both with tenants and owners, is largely, if not almost entirely, determined by the effectiveness with which we handle maintenance. We follow a practice that is most likely to insure the best possible response and resolution to maintenance and repair problems for your property.
When do you mail the owner’s checks and statements?
Owners checks are mailed out on or after the 15th of each month but no later than the 18th for that month’s activity. Most months, you will have your check and statement in hand by the 20th.
Can you put my rental proceeds directly into my checking account?
We will be happy to send your check directly to your bank for immediate deposit while sending the statement to you.
What will I receive with my monthly statement?
The monthly statement showing all income and expenses for the accounting period and the original receipts for any repairs. We don’t markup repair invoices and we send you the original copy so you’ll see what was done.
How much security deposit do you charge the tenant?
As a general rule of thumb we usually get one month’s rent for deposit, this is what most property owners and property managers will ask for.
Are you a licensed Property Manager?
Our In-house real estate team is licensed by the state of Arizona.
How soon can you start managing my home?
We can start the process immediately. We will start by obtaining some information about you and your property and helping you decide if we are a good fit for your needs.