Being a landlord involves two aspects—the practical business side and the “people“ component. Each plays a vital role in the success of any real estate rental venture. The business aspect requires what are often labeled as “hard“ skills, while the people side uses what are commonly referred to as “soft“ skills. Neither skillset can accomplish the task solo.     So, let‘s tackle the “hard“ skills first, with three crucial must-haves for property management success.    Technical property know-how  While it is unnecessary to be a general contractor, being …

Continue reading “The Hard and Soft Skills You Need to Be a Landlord”

“Gratitude makes sense of our past, brings peace for today, and creates a vision for tomorrow.”                                                                      – Melody Beattie 2020 has …

Continue reading “Gratitude and Thankfulness”

Here’s the latest rental activity and trends for the Phoenix Metro area for October 2020… Closed Rental Units: 1,819 (8.64% decrease year over year) Median Lease Rate: $1,725 (11.29% increase year over year) Average Lease Rate: $1,906 (10.43% increase year over year) Average Days on Market: 43 (38.71% increase year over year)

The results of our recent survey about the economy and real estate market  reflect uncertainty amongst landlords and investors during an election year and the Covid-19 pandemic. Although 33% of respondents anticipated a “strong” economy over the next 12 month, 67% felt that the economy would be “fair or weak”.  Ratings of “very strong” or …

Continue reading “Survey Results – Is Now a Good Time to Invest?”

Like most business decisions, there are risks involved when investing in real estate. But this is not a “Don’t invest in rentals post”; this is an “opportunity to beat the risks by understanding them” post. Basically, all business risks have one thing in common – they create a situation where your financial outlay is greater …

Continue reading “The Risk of Investing in Rentals”

Investing in rental properties can be a rewarding experience or a journey to you-know-where and back.  The truth is you hold the power to make your investment experience a great one – by being a winning landlord. Here are some top suggestions to get you going. Communicate. Communicate. Communicate: No matter what you are trying to …

Continue reading “How to Win “Landlord of the Year” from Your Tenants”

Security deposits are just that – a deposit to protect the landlord if a tenant leaves without notice, without paying, or damages the property. They are not an opportunity to make a less than ideal tenant “pay.” While retaining a portion of the deposit is sometimes necessary, documentation is essential. So, let’s start at the …

Continue reading “Security Deposits – What’s Mine and What’s Theirs?”

We’re reaching out to our community of Landlords, Investors and Real Estate Professionals to get your opinion on the economy and real estate.  Let us know what you think! Click below to answer our quick, two question survey.

Section 8 housing was established by Congress to assist those who need a home or apartment to rent, but their income can’t cover the expense. Section 8 provides a “voucher” to cover a portion of the rent payment. A number of factors are included to determine the Section 8 voucher amount such as fair market …

Continue reading “The Pros and Cons of Being a Section 8 Landlord”

The Phoenix rental market continues to show strength.  Limited supply of available properties and strong demand continue to drive year-over-year rental appreciation. Check out recent rental activity and trends for the Phoenix Metro area for September 2020… Closed Rental Units: 1,722 (9.80% decrease year over year) Median Lease Rate: $1,700 (6.58% increase year over year) Average Lease …

Continue reading “September 2020 Rental Market Update”