Rental Basics in Phoenix>Question Details

Lucky Pet, Home Owner in Phoenix, AZ

I need a property manager to take care of my rental unit. Do I need a broker agent or can I have someone I know with a real estate license will do?

Asked by Lucky Pet, Phoenix, AZ Thu Sep 1, 2011

I have a house in Peoria, AZ

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9
Bob Herd’s answer
Whoever they are they will need a trust account in order to receive and disburse your rent and deposit checks as well as pay any bills. Trust accounts are audited by the Department of Real Estate annually and not many brokers carry them unless they do a lot of property management work. Ask about one-time and recurring fees, including rental commissions and property management fees. Be sure to ask if they put your property in the local MLS or not and how much commission they offer the tenant's broker, that's important as it often speeds up the rental process.
0 votes Thank Flag Link Thu Sep 1, 2011
It would be in your best interest to hire someone very familiar with property management. There are to many things that a Realtor could say or do wrong, or handle something incorrectly that could cause problems. Make sure whoever you hire is familiar with AZ law regarding tenant / landlord
0 votes Thank Flag Link Thu Sep 1, 2011
There are a few things that you WILL encounter for sure. Interview the potential PM companies for how do they handle some of these issues:

* minor repairs
* HOA notices
* Late payment

Most companies will charge between 8%-10% and provide similar services. Individual personality of PMs in the same company can vary greatly from one to another (responsive and non-responsive). Good luck !
0 votes Thank Flag Link Thu Sep 1, 2011
Property manager specializes in the west valley. Our services include online access to owners 24/7 to accounting and tenant ledgers, in-house maintenance to minimize expenses. Fast growing company that is knowledgeable, reliable and professional.

Luisa Ortega
Lortega@paiellirealty.com
602 510 0866
0 votes Thank Flag Link Thu Sep 1, 2011
Hello Lucky Pet,
A real estate agent can manage your rental unit providing that they work for a Broker and he Broker allows property management. Being a Property Management Company, I would recommend you choose a company who does this as a primary business. They are the best equipped to handled your rental unit in terms of maintenance, leasing and accounting. I would be happy to make a proposal if interested. Thanks
0 votes Thank Flag Link Thu Sep 1, 2011
It's best to hire someone that knows the Arizona laws to protect you. I work for Welcome Home Realty and we have an entire property management department with lots of experience. They do a great job and are very reasonable. You can reach me for more information @ jb55@cox.net
0 votes Thank Flag Link Thu Sep 1, 2011
In AZ you should work with an agent with a real estate license to manage your property. The manager acts as an agent for the owner and has specific agency duties and responsibilities under state and federal law. I am a property manager with Keller Williams and specialize in single family homes in the west valley. A well-managed property can increase your cash flow and reduce your risk. Please contact me by phone or email to discuss the services we provide.

Randy Carter
480-229-9743
info@echofish.net
0 votes Thank Flag Link Thu Sep 1, 2011
Property management requires intimate knowledge of Arizona's Landlord Tenant Act. Hire the agent with the most experience, not just someone "you know". You can hire anyone with a real estate license, not necessarily a broker. However, keep in mind that many brokers will not allow their agents to get involved in property management without a minimum amount of experience.

One of the best property managers in the valley is Jeff Hockett @ 623-910-3048. Tell him Sonny sent you! :)
0 votes Thank Flag Link Thu Sep 1, 2011
I'm not sure you really need either. You don't need a broker in any case. There are some management companies, and some agents have additional credentials in property management. And you'd probably be better off with one of the former. (Just get references.) However, you might be able to use anyone. Just check with your local authorities to make sure.
0 votes Thank Flag Link Thu Sep 1, 2011
Don Tepper, Real Estate Pro in Fairfax, VA
MVP'08
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