


To Hire Or Not Hire A Professional
Arizona Property Management Company Like GoRenter.com?
Therein Lies The Question:
One of the biggest, challenging decisions you can make as a landlord is whether or not to hire a property management company in Phoenix, Arizona. A good property management company will help you with the myriad responsibilities that come with running rental properties such as dealing with tenants, tenant disputes, finding prospective renters, marketing for those renters, maintenance, repairs collecting rents and handling evictions if need be.
While outsourcing those responsibilities can be a sigh of relief to your business, there are many factors to consider before you hire an Arizona management company. During this article we hope to share many of those considerations with you so that you, the real estate investor, can make the best decision for the future of your investment business.
Cashflow
Can you afford the cut into your profit margin by hiring a property management company in Phoenix, Arizona? With GoRenter.com you can! Like any sound real estate investment the basis of your potential profit is generated when you buy the subject property. So make sure to consider all the numbers including deferred maintenance / repairs, as well as insurance and taxes before you buy. GoRenter.com’s affordable property management fees and clear contracts make it easy for an investor to calculate their total management expenses right up front. Between quality property management services and a good home warranty plan, most landlords will have peace of mind knowing their rental property is taken care of 24/7 by professionals.
Time
What’s your time worth? How do you want to spend that time? Do you want to spend it working on your business or working in it? That means do you want to focus your energies finding and generating the opportunity to acquire your next property? Or do you want to spend all the time, energy and effort replacing hot water heaters, fixing leaks, evicting tenants, pursuing late rents all the while trying to stay educated on all the rules, regulations that make you compliant with all state, local & federal laws that come with being both a landlord and a business owner.
That sound heavy I know, but that is meant to impress upon you the advantage of leveraging time when yours is limited. This can be even more important for those of you with both families and full time careers outside of your rental business. Depending on the size of your business handling all the responsibilities of being a landlord can and often will suck up your valuable time from those who need it the most. Your family! Part of the joys of generating passive income is the ability to create more time in you day to day life to do the things that are more important to you. By hiring a property management company like GoRenter.com you are leveraging your time and ensuring your ability to be as productive as possible in this opportunistic market.
Location
Guess what, the greater the distance to your rental property the greater the headache when it comes to responding to the needs of your property. Whether it be maintenance & repairs or responding to tenant complaints, it’s vital that you have the ability to respond quickly. Quickly meaning within 24 hours not 2 weeks. If your rental property is located out-of-the-state in which you live, a good property management company will have access to local contractors for any emergency repairs or even standard maintenance saving you the time & effort of having to assemble a team yourself from out of state.
Even if your property is local to you, how far is it from where you do business? How much time will it take to cut across town to address any issues that may come up? If your hands on, then it’s a great way to work yourself into another full time job in which the business owns you instead of you owning the business.
GoRenter.com has a full-service maintenance / repair team that is on call 24/7. Our focus on customer service and our ability to respond quickly keeps our tenants happy and confident their needs will be met.
Management Services
We have mentioned maintenance & repairs frequently during this article, but there are also other associated responsibilities that come with running a rental business / property management company in Phoenix, Arizona.
· Marketing. Do you have the experience to know what your area market rent should be for your property? Do you know how to market effectively in order to minimize your vacancy rate and maximize your rental income?
· Quality tenants. Do you know how to fill your properties with the best qualified candidates? Performing a background check isn’t good enough. How to turn down potential renters while avoiding the appearance of being discriminatory is an important distinction.
· Rent collection, tracking deposits and handling evictions
· Negotiating rental agreements
· Bookkeeping, tracking income & expenses in order to determine profitability
You Don’t Have to be an Employer
If you have portfolio that requires all the above services to actually be handled by an individual or team of professionals, there is an advantage to hiring an Arizona property management company such as GoRenter.com. By utilizing an associated service in your rental business you can deduct those costs on your taxes. You also don’t have the liability of having employees on your payroll. By not having to generate payroll you also don’t have to worry about all the potential tax implications and legal requirements associated with employees.
Bottom line. If you are in a position to hire a property management company do so. It will help you generate more time in your schedule and help to make the most of your rental business.
About The Author Go Renter.
GoRenter.com is an Arizona property management company that specializes in helping local and out-of-state real estate investors find appropriate tenants for their rental homes. We provide full-circle service including a complete maintenance division and 24 hour customer support center. For Renters, we have the largest selection of available rental homes in the Phoenix-Metro area & clear contracts that make renting a home through us easy. So whether you a renter or a landlord, the all new GoRenter.com is the perfect choice for all of your rental / property management needs. Our office line is 602-512-4406.
The protections within the new law, the Helping Families Save Their Homes Act, are effective immediately and expire at the end of year 2012. With the new law, tenants now have the right to remain in their homes after foreclosure for 90 days or through the term of their lease as long as the new buyer of the property does not intend on living in the residence. The bill also provides similar sanctions to low income families holding housing vouchers. Below is the actual law:
TITLE VII--PROTECTING TENANTS AT FORECLOSURE ACT
SEC. 701. SHORT TITLE.
This title may be cited as the `Protecting Tenants at Foreclosure Act of 2009'.
SEC. 702. EFFECT OF FORECLOSURE ON PREEXISTING TENANCY.
(a) In General- In the case of any foreclosure on a federally-related mortgage loan
or on any dwelling or residential real property after the date of enactment of this title, any immediate successor in interest in such property pursuant to the
foreclosure shall assume such interest subject to--
(1) the provision, by such successor in interest of a notice to vacate to any
bona fide tenant at least 90 days before the effective date of such notice;
and
(2) the rights of any bona fide tenant, as of the date of such notice of
foreclosure--
(A) under any bona fide lease entered into before the notice of
foreclosure to occupy the premises until the end of the remaining term of the lease, except that a successor in interest may terminate a lease effective on the date of sale of the unit to a purchaser who will occupy the unit as a primary residence, subject to the receipt by the tenant of the 90 day notice under paragraph (1); or
(B) without a lease or with a lease terminable at will under State
law, subject to the receipt by the tenant of the 90 day notice under subsection (1),
except that nothing under this section shall affect the requirements for termination of any Federal- or State-subsidized tenancy or of any State or local law that provides longer time periods or other additional protections for tenants.
(b) Bona Fide Lease or Tenancy- For purposes of this section, a lease or tenancy shall be considered bona fide only if--
(1) the mortgagor or the child, spouse, or parent of the mortgagor under
the contract is not the tenant;
(2) the lease or tenancy was the result of an arms-length transaction; and
(3) the lease or tenancy requires the receipt of rent that is not substantially
less than fair market rent for the property or the unit's rent is reduced or
subsidized due to a Federal, State, or local subsidy.
(c) Definition- For purposes of this section, the term `federally-related mortgage loan' has the same meaning as in section 3 of the Real Estate Settlement Procedures Act of 1974 (12 U.S.C. 2602).
For example an estimated one third of homes that are in foreclosure in Arizona are rentals. This new federal law will allow these tenants to stay in the foreclosed property for 90 days as long as they are abiding by their lease terms. This new program is the same across the nation.
Many landlords across the nation have committed fraud by signing tenants into one year leases knowing they were going to let the house go to foreclosure. This new federal law is the protection many tenants were lacking and finally gives peace of mind to any family renting a home. GoRenter.com cares about our tenants rights. Our company goes to great lengths to pre-screen both tenants and landlords ensuring a suitable match is made that is in the best interest of all parties.
GoRenter.com is an Arizona property management company that specializes in helping local and out-of-state real estate investors find appropriate tenants for their rental homes. We provide full-circle service including a complete maintenance division and 24 hour customer support center. For Renters, we have the largest selection of available rental homes in the Phoenix-Metro area & clear contracts that make renting a home through us easy. So whether you a renter or a landlord, the all new GoRenter.com is the perfect choice for all of your rental / property management needs. Our office line is 602-512-4406.
Fact: The cost to replace a tenant is more than 3 times the amount to keep one.
Fact: Tenants are finicky and it seems like the best ones are always the ones that want to leave.
Fact: Without long term retention you will not produce passive income and generate equity for your investment portfolio.
5 KEYS TO LONG TERM TENANT RETENTION BY ARIZONA PROPERTY MANAGEMENT COMPANY GORENTER.COM
Depending on what report you read, 30% to 40% of the nation’s population are renters. Despite the sheer number of available renters, the competition to land quality, qualified tenants has never been fiercer. So obviously it’s important to retain and keep happy a good tenant once you have them placed in your rental.
Consider this. Let’s pretend you have a rental property in Arizona that typically has an average rental income of $1200 a month. Your old tenants just moved out and the average time it takes to market, find, and qualify a new tenant is around 60 days. Let’s not forget to factor in any cleaning costs, the costs of any repairs, screening costs, and the costs of any marketing you may have to do. Add up all the time and money this process can take and we can conservatively say these costs can be around $3500. Unless your full time job is being a landlord, why would anyone want to run around pretending to be a money-collecting maintenance man?
The following keys you are about to read will help you to find success in generating long term rental cash flow by utilizing a professional property management company such as www.GoRenter.com.
1) Communication/Response Times
When a tenant has maintenance issue, be sure to respond in a timely fashion. Do you have a 24hr call service or hotline set up & available? Are you able to respond quickly or do you let the issue go on for several days or more. Either handle the maintenance issue quickly or if you can’t afford to, immediately communicate to your tenant when you intend to do so. This will go a long way towards avoiding tenant/landlord disputes.
Disputes are a going to happen given the nature of the business. That’s okay. Just make sure there is a system in place to address them quickly and fairly. By establishing clear communication, it will keep all expectations above board and help to avoid resentment.
Follow up: Keep all communications in writing.
Be sure to ask your property management company to follow up ALL verbal communication with an e-mail reiterating the key points in your conversations. A good lead in is: I wanted to review the issue(s) discussed today as per our conversation…
When interviewing to hire a property management company in Arizona make sure to ask to meet the customer service representatives and choose the right one for you. After all, this person will be assigned to handle your property and has a direct effect on the successful rental of your property, which in turn directly affects your long term profitability. Ask them how do they handle resolution? What is their system of communication and documentation? Also don’t be afraid to ask to speak directly to tenants that have had difficult situations resolved under their guidance. This is why GoRenter.com has an open door policy and streamlined customer service center focused on client support and fast maintenance completion. Our belief is that the key to successful cash flowing rental starts with how a property management company handles customer service issues.
2) Renewal Bonus
Look at what it costs to replace a tenant. Would it hurt you to reward a tenant with a loyalty program? For signing up for another year, offer to replace an appliance, install new carpet, or perhaps $200.00 dollars a month off for the first one or two months of their renewal.
Don’t expect your property management company to just offer these things for you carte blanche. After all it’s your money! As a landlord you have to;
3.) Appreciation/Referral Program
Does your Arizona property manager treat your tenants respectfully yet firmly in a fair manner? This concept is extremely important because as your property managers we have to handle any problems that arise with either rent collection or maintenance issues and in most cases the renters will either choose to stay or leave depending on how they are treated. Most renters just want to be treated fairly and with respect and at GoRenter.com we understand this and always conduct business with honor, integrity, and respect.
Have an appreciation program developed through your property management company such as sending your tenants notes/cards 3 to 4 months into their rental period asking them how are we doing? Telling them that you appreciate their choice in choosing to live in your property? You could also end these types of communications with a P.S. The highest compliment you could give me is a referral.
4.) Utilize A Rent-To-Own Or Lease Option Program
Most renters are renters for a reason. Either they don’t have enough of a down payment to buy their own home, just moving in town from out of state and are not sure where they want to buy, or they have gone through a bankruptcy / foreclosure and have bad credit. By offering your prospective tenants a lease option program you will find that the renter psychologically becomes a homeowner in their own mind and not only treats the property as if it is their own, but is willing to pay a higher rent and pay on time!
At GoRenter.com, we have a variety of solutions for tenants who would like to participate in a lease option program. We strongly urge our investors to give a percentage or portion of their appreciation in the property to the tenant as an incentive for them to option the home for purchase. Once they have entered into the option to purchase, they are now invested with you in the home and take care of it as their own as well as stay much longer than the usual tenants. The lease option should be negotiated for each individual situation. When you are not sure how to create a lease option program, contact a professional for guidance.
5.) Proper Marketing & Screening
Proper marketing is an essential key step in finding the right type of tenant. If you are marketing in the classifieds section of the newspaper you will most likely attract a certain type of tenant (one that buys and reads the newspaper). Different from the type of tenant you would find on Craigslist.org (online) or from a referral (the best kind)! Our point is unless you plan on paying for and implementing an aggressive marketing campaign you will have little chances of generating enough qualified prospects as you would when you hired a really good property management company with their own aggressive marketing strategy! Through property rental property marketing your chances of being able to choose the right type of tenant for you will ensure a higher tenant retention rate in the long run.
Of course just generating the prospect is only half the battle. Once your prospects come knocking the next step is to pre-screen and qualify them to your standards. Does your current property management company have a comprehensive application process that allows them to pull criminal background and credit information? Do they pull not only credit reports but verify employment and income by also speaking with a potential renter’s employer instead of just relying on paystubs? Do they verify rental history and ask for referrals from prior landlords and even roommates?
NOBODY does more marketing for qualified tenants than the experts at GoRenter.com. Every year we spend hundreds of thousands of dollars on print and online advertising and are currently managing over hundreds and hundreds of cash flowing rentals for our investors. We pride ourselves on proper tenant placement so that both you as the real estate investor and the tenant can enjoy the business relationship over the life of your investment. Aside from buying the property for the right price in the right location, finding the right tenant for your property is one of the single most important decisions to be made for the long term successful generation of passive income for your investment portfolio.
Arizona Property Management Company Contact Info:
Corporate Headquarters: 645 E. Missouri Ave Suite 270 Phoenix, AZ 85012
Website: http://www.GoRenter.com
Phone number: 602-512-4406
As your property management company of choice, we are able to serve Arizona real estate investors in the following Arizona cities:
Phoenix Property Management, Mesa Property Management, Tempe Property Management, Scottsdale Property Management, Chandler Property Management, Gilbert Property Management, Glendale Property Management, Ahwatukee Property Management, Laveen Property Management, Avondale Property Management, Surprise Property Management, Anthem Property Management, Prescott Property Management, Cave Creek Property Management, Carefree Property Management, Arizona Property Management Company
Searching for a rental property in the greater Phoenix area? GoRenter.com offers plenty to choose from in the following cities:
Phoenix Homes For Rent, Mesa Homes For Rent, Tempe Homes For Rent, Chandler Homes For Rent, Gilbert Homes For Rent, Scottsdale Homes For Rent, Avondale Homes For Rent, Anthem Homes For Rent, Glendale Homes For Rent, Laveen Homes For Rent, Surprise Homes For Rent, Anthem Homes For Rent, Prescott Homes For Rent, Cave Creek Homes For Rent, Carefree Homes For Rent, Arizona Homes For Rent, Ahwatukee Homes For Rent
GORENTER.COM'S ARIZONA PROPERTY MANAGEMENT SERVICES HELP HUNDREDS OF REAL ESTATE INVESTORS PRODUCE POSITIVE CASHFLOW $$ FOR THEIR PROPERTIES!
We have had so much success in reducing tenant vacancy and turnover we are able to offer our new:
SUMMER SIZZLING SPECIAL
• No Annual Fee For The Rest Of 2009!
• 2 Months Free Arizona Property Management!!
• $50 A Month Flat Rate Management For The Rest Of 2009!!!
Sign up now and we will lock in the $295 Annual Fee and the flat rate of $75 Monthly Management for all of 2010.
INVESTORS - YOU NEED OUR SERVICES!
Let's face it a majority of "Arizona Property Management" companies are just realtors who stumbled into it due to the lack of qualified buyers, for many investors wanting to sell their houses. So in turn they found renters. But many of those carry extra associated costs meaning higher management fees.
For example, most Arizona property management companies will list a house for rent using the MLS and pass that cost right onto the investor. Not so at GoRenter.com because of our systems and protocols we have developed cost saving techniques and measures and pass those savings on to you.
At GoRenter.com our strategic market positioning produces, between 600 to 800 phone calls every month from potential tenants seeking housing! Additionally our website produces over 6,000 hits every week from potential customers.
In turn we lease as many as 30 homes every week meaning...
we have a surplus of tenants on hand waiting to be placed into your investment properties.
We service investors of all sizes, whether you have your first rental property and need to fill it with tenants or a large portfolio of 20 or more properties.
Throughout 2009 we have increased our management to maintain well over 1200 properties at any given week. Yet we still have more tenants than housing to place them in with the capabilities to handle hundreds more properties.
For many Arizona real estate investors who have bought houses to rent in this last year you will find that with our low management fees and our aggressive marketing tenants will fall into place allowing your investment to cash-flow immediately!!
But we can't work with everybody, right now we can take on only another 500 properties, so act now before it's too late! Why wait any longer to produce a profit on your investment(s) and choose a property management company with a proven track record with the expertise to place long term tenants in your houses!

As your property mangement company of choice, we are able to serve Arizona real estate investors in the following Arizona cities:
Phoenix Property Management, Mesa Property Management, Tempe Property Management, Scottsdale Property Management, Chandler Property Management, Gilbert Property Management, Glendale Property Management, Ahwatukee Property Management, Laveen Property Management, Avondale Property Management, Surprise Property Management, Anthem Property Management, Prescott Property Management, Cave Creek Property Management, Carefree Property Management, Arizona Property Management Company
Searching for a rental property in the greater Phoenix area? GoRenter.com offers plenty to choose from in the following cities:
Phoenix Homes For Rent, Mesa Homes For Rent, Tempe Homes For Rent, Chandler Homes For Rent, Gilbert Homes For Rent, Scottsdale Homes For Rent, Avondale Homes For Rent, Anthem Homes For Rent, Glendale Homes For Rent, Laveen Homes For Rent, Surprise Homes For Rent, Anthem Homes For Rent, Prescott Homes For Rent, Cave Creek Homes For Rent, Carefree Homes For Rent, Arizona Homes For Rent, Ahwatukee Homes For Rent