Blog

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Should I hire a Property Management Company?

Depending on the circumstances property owners may choose to manage their properties themselves, or they may outsource the management responsibilities to a professional Property Management Company. Once you have invested in a rental property the responsibility can become overwhelming. For many landlords, the logical solution is to hire a Property Management Company. Is this the right decision for you? Consider the following issues before making that decision.

 

Where is the Property located? - If you have purchased a rental property near your home or place of business it will be easy for you to keep an eye on your investment. However, if your rental property is located far away you will have to travel to deal with the inevitable problems that will arise. If you are not able to check on your property frequently and easily handle problems that may arise, it may be in your best interest to hire a Property Management company.

 

Do you know how to manage a rental property? - If you do not have experience in being a landlord or Property Manager yourself, you may be in over your head. Collecting rent may sound easy, but in realty there are a lot of processes to consider. In order to manage your property profitably and correctly you need to be familiar with things such as landlord-tenant laws, eviction processes, accounting, rent collection, and maintenance remedy. If you are not familiar with these things you can quickly find your investment becoming more of a loss, and your tenants may take advantage of your inexperience.

 

Can you find good quality tenants on your own? - Experienced Property Managers are experts at finding good tenants and will handle all of the details including running criminal background and security checks, running credit reports, verifying employment, and getting previous landlord references. If you do not think you will be able to do these types of background checks, you may want to hire a Property Management Company.

 

How much experience do you have with maintenance/repairs? - If you cannot handle the maintenance yourself, do you know who to call? Finding reliable handymen and contractors can be a lengthy process. Maintenance and repairs are a significant component of being a landlord. If you question your ability to make sure the work is completed to your satisfaction and in a timely manner, you may want to hire a Property Management Company.

 

Can you handle the accounting and record keeping for your property? - From tracking rent to handling profit and loss, and an understanding of tax laws; all of these elements require special attention and can quickly become a burden, especially if you have multiple properties. If you feel accounting may be your weak point, consulting an experienced Property Management Company may be the best decision for you.

 

Are you willing to be on call 24/7? - This is an important question to answer honestly. If an emergency happens at your property, you cannot ignore it. These emergencies do not happen all the time, but when they do it is important they are addressed immediately. If managing your property yourself, you have to be willing to address these issues no matter the time of day.

 

Are you familiar with the housing regulations and property laws? - There are a multitude of laws and regulations to abide by when renting and maintaining your rental property. If you are not familiar with them a Property Management Company can help you avoid lawsuits by keeping your property up to date and in compliance with these laws.

 

Whether or not you decide to manage your investment property yourself, if you do hire a Property Management Company make sure you do your research before hiring them. Your mission is to find someone who is trustworthy and experienced. Get referrals if you can. It is best to interview several companies before deciding on which one you will hire.

Good luck on your endeavors as a real estate investor!

 

For More tips on real estate/home maintenance visit www.speedytenants.com/blog

This article was authored by: Jennifer Jones on 1/30/2017 for tctwestproperties.com


Here is a tidbit from our recent Newsletter: 

July 2017

SUMMER IS HERE AND WE CAN’T HIDE FROM IT,

BUT WE CAN TAKE ACTION AND SAVE $$$!

Here are some tips that can help lower  energy costs in the summer months.

  1. Set your air conditioner to 78 or higher

  2. Wear cool, loose clothing — even indoors

  3. Use box fans to improve air circulation and set existing ceiling fans properly 
     (TIP: By setting a bowl of ice in front of a box fan, it will blow even cooler air)

  4. Take cold showers

  5. Drink plenty of water

  6. Draw drapes and blinds on windows exposed to direct sunlight

  7. Cook outdoors, use microwave or crock-pot

  8. Spend more time outdoors or away from home

  9. Shut down unnecessary electronic devices  

  10. Wash your clothes at night and line dry them in the morning

  11. Close doors to unused rooms and closets

  12. Replace or clean your air conditioning filter 

ARIZONA MONSOONS

When is Arizona’s Monsoon?

Up until 2008 Arizona’s monsoon varied from year to year in starting date and duration.  The Arizona monsoon officially began after the third consecutive day of dew points above 55 degrees.  On average this occurred around July 7 with the monsoon continuing for the next two months.  In 2008 the National Weather Service decided to take the guesswork out of monsoon start and end dates.  From now on June 15 will be the first day of the monsoon, and September 30 will be the last day.

 

WHAT HAPPENS DURING MONSOON?

Monsoon storms range from minor dust storms to violent thunderstorms.  They can even spawn tornadoes, though that is rare.  Typically, Arizona monsoon storms start with heavy winds sometimes resulting in a visible wall of dust hundreds of feet high moving across the Valley.  These dust storms  are normally accompanied by frequent thunder and lightning often leading to heavy downpours.  Monsoon rains average about 2-1/2”, about 1/3 of our yearly rainfall.  

WEEDS? ?

Rather than bending and yankig weeds, try this simple solution for killing them: White vinegar.

White vinegar works well and quickly.  Use white vinegar and fill a spray bottle. On a sunny day, spray grass or weeds with the vinegar, taking care not to allow vinegar on other plants or it likely will kill them, too.  The vinegar should kill weeds overnight.

Reapply as needed throughout the growing season.  It's cheap, it's green, and it works!

BEES IN THE DESERT

With the summer upon us, you will see an increase in bee activity and other stinging creatures. We can help.  If you see a hive or nest in a common area tree, there is a pest conrol company that we will contact to get them out as soon as possible.  Please be careful with hives and nests and let a professional take care of these insues!

© TCT West Property Management Services, LLC. All rights reserved.
 

TCT West Property Management Services, LLC
2440 N. Litchfield Rd. Ste. 101
Goodyear, AZ 85395
Tel: (623) 536-6226