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How to Choose the Best Property Manager in Gilbert Arizona

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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?

hire a property managerYou 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?

time managementMeeting 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.

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

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

business investments in property

  • 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

selling and buying property in 2020

  • 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.

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When Should a Landlord Hire a Property Management Company?

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

facility managementIf 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.

property management costReal 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

hire property management companyPremier 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.

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

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.

Property Management

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

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.

  1. 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.
  2. 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.
  3. 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.
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Top 10 Most Common Property Maintenance Issues

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)

property renting

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 issuesProperty 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?

property managementService 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.

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What Does a Property Manager Do?

Property managers assist in a variety of ways. In addition to collecting rent checks, property managers help protect your investments while ensuring that your passive income does not change. Property managers are required to learn all of the federal, state, and city regulations. Here is an in-depth look at the regular duties of a property manager whom you can find online under this query: property manager near me.

Research Landlord-Tenant Rules

Staying up to date on landlord-tenant laws can be overwhelming at times for property owners. The process is especially difficult if they have rental homes in several different locations. Your property manager should be informed about the current regulations and ordinances. Your property manager should be able to address any issues that you have and prevent them from becoming bigger problems in the future.

Help You Invest

property investmentIf you have a property manager, you do not have to learn everything about the area where your investment is located. Your property manager should be able to advise you and market your property based on where it is located. They should also be able to assist you with the maintenance of your property. Hiring a residential property management company allows you to invest in markets that align with your personal investing goals. You will not be limited by any geographic barriers.

Help Fill In Vacancies

Every day that your property is vacant, you are losing money. Property managers can reduce the chances of you losing money by attempting to persuade the tenant to renew a current lease or by marketing the home immediately after the tenant gives notice. Having a good marketing plan will help your property become more appealing to new tenants. Property managers take care of any repairs that need to be made. They will also re-key the doors and replace old appliances. A property manager will also market the vacancy by posting photos and videos on all of the major rental listing sites.

Screen Tenants

By using a thorough screening process, you can reduce your chances of receiving a financial loss. Professional property managers perform multiple background checks, including rental, history, employment, and credit. They will also ensure that all of the fair housing and discrimination laws are being followed. Once an application has been approved, the property manager will collect the security deposit.

Handle All Of The Maintenance Issues

property management workMaintenance requests are often a difficult thing to deal with. It’s inevitable that some appliances and systems will break down at some point. If you respond to your tenants’ maintenance issues in a timely manner, you can reduce the tenant turnover rate. A property manager will handle all of your tenants’ requests and solve any maintenance issues.

Performing regular maintenance helps reduce costs and prevents bigger problems from developing in the future. The property manager should perform regular property inspections to ensure that all of the systems are functioning properly. Many property management companies receive volume discounts from vendors, which allows you to save money. Ask the company if you can set up a guide for authorization.

Take Care Of Any Landlord-Tenant Disagreements

Your property manager will collect the rent and ensure that everyone has paid. The property manager is also responsible for ensuring that tenants follow the rent policies. Property managers will also handle evictions.

Choose Premier Business Investments

For over 20 years, Premier Business Investments has helped buyers and sellers throughout Arizona. The company specializes in single-family, patio homes, and condos. Premier Business Investments’ agents understand market trends, as well as the communities that they serve. The agents will create an effective online marketing campaign to help you receive maximum exposure. They will also give you insight into the buying and selling process. Premier Business Investments offers its clients real estate, consulting, and property management services.

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