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Rental Basics in 85001 : Real Estate Advice

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  • Home Buying2
  • Home Selling1
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Activity 30
Thu Mar 27, 2014
Jennie Miller, Pllc answered:
Wed Jul 10, 2013
Doug McVinua answered:
Sandor

We handle Property Management out of our Brokerage. I'm the designated broker and personally handle the property management side of the business.

How large is your portfolio and where is it located? ... more
0 votes 12 answers Share Flag
Sat Jan 12, 2013
Michael Cheng answered:
Sorry that happened to you, but there's really nothing you can do. These scam artists are pretty sophisticated and are usually not even based in the country. You'll just have to call it an expensive lesson.

Next time, go with a rental agent or only a listing from a Realtor.
... more
0 votes 7 answers Share Flag
Tue Dec 4, 2012
Rocky Dole answered:
Many people who have gone through foreclosure are currently renting. Most of the rentals out there will not disqualify you just because you went through a foreclosure. They will look at other things as well such as how much income you have and if you have anything in reserve. They are generally looking for household income at least three times the rent. They may also look at any other creditors that you have and whether you have made payments to them on time and how much you currently owe. They will probably check your criminal background as well to make sure that you don't have any major concerns in that area. It is possible that they may check other things as well but these are some of the common things that they check. ... more
0 votes 7 answers Share Flag
Sat Oct 13, 2012
Stan Battersby answered:
Hi

Surprise has it's good and bad areas like any city.
Go to my web sit and it has information on the different areas.
azhousesales.listingbook.com
0 votes 10 answers Share Flag
Fri Jun 7, 2013
Loren Hoboy answered:
First, I would suggest that your son pick up a copy of the lease from the landlord. If he signed it, my guess is that he signed and acknowledged that he received a copy of the Arizona Residential Landlord and Tenant Act. He is not going to get much sympathy from a judge if his signature is on the lease.

Most likely the lease say that both tenants are individually and fully liable for the rent payments.

Your son probably has a claim against the roommate (Did he and the roommate enter in to a contract?) . He may be able to find another tenant for the space. It will be set forth in the contract. My advice is to seek help from a real estate lawyer now rather than wait for the situation to get worse when he does not pay the bill.
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0 votes 2 answers Share Flag
Tue Jun 27, 2017
Carlos Ramirez answered:
I am experienced in Phoenix, but do not know much about Tolleson. If you used an agent when buying this property he should be able to sit down to go over all those details for each area with you. On either case I advise you to get in contact with an accountant or local tax expert – real estate agents might have general knowledge, but to be on the safe side it is a good idea to talk with an expert. ... more
0 votes 9 answers Share Flag
Wed Apr 4, 2012
Melissa Schwartz answered:
Dale -- I have a rental property listing in Aviano currently leased and have been watching the area closely. I do not do property management--Just lease the property when required. I can recommend several good property management companies/agents if you need that service as well. Wildfire is a highly sought after area due to its location in North Phoenix and the PV Schools. You can send me specific questions directly if you prefer.

Melissa Schwartz
Associate Broker
Realty One Group
602-672-6189
MSchwartz@RealtyOneAZ.com
... more
0 votes 3 answers Share Flag
Tue Aug 28, 2012
Sean Heideman answered:
If you work with a realtor, then they can look up this information very easily. The only way for you to look up this information is to research the Maricopa county recorder's office for a Notice of Trustee Sale. Also you could just ask the landlord if they are making their payments or if the home is in foreclosure. If you are interested in working with a realtor, then please feel free to contact me .

Sincerely,


Sean Heideman, Broker
Position Realty
Office: 480-213-5251
... more
0 votes 7 answers Share Flag
Tue Apr 24, 2012
Jason Rush answered:
To the best of your ability understand the area, the home and the landlord (owner, agent or management company). Make sure you know the terms and they are agreeable and doable. The agreeable part is typically easier than the "doable" part. Make sure you know and can comply with the terms related to late payments, maintenance issues and property modifications. Renting a property is like a new high school relationship, they always start out great yet easily and quickly evolve into a ugly and unpleasant situation with divided sides. Make sure you prevent another ugly high school relationship. What you agree to is what you must do so make sure you can adhere to the terms. ... more
0 votes 2 answers Share Flag
Tue Aug 23, 2011
Jeremy James Jack answered:
Here is a link to the Arizona Residential Landlord and Tenant Act: http://www.azsos.gov/public_services/Publications/Residential_Landlord_Tenant_Act/ ...which should have all the answers you need... Good Luck ... more
0 votes 9 answers Share Flag
Thu Jun 2, 2011
Pat & Steve Pribisko answered:
This question violates the Sherman Antitrust Act. The concern is price fixing. It is illegal to discuss fees. I suggest that you talk to your broker.
0 votes 4 answers Share Flag
Wed Feb 9, 2011
- Dane Mickelsen - answered:
Yes it is very important to take pictures when you move in. You want to fill out a sheet with everything wrong with the house, take pictures to document. When you finish you need to bring it to the land lord and have them acknowledge what you have put down. Have the land lord sign it so you can keep a copy for your records. If you are already living in the house I would talk to the land lord and document what is wrong and have them sign that they realize that the home was in that condition prior to you moving in. Good luck! ... more
0 votes 10 answers Share Flag
Wed Aug 18, 2010
The Urban Team answered:
Dear Lacey,

Thanks for asking the question. I wish I had a concrete answer for you. Phoenix is a HUGE area with many neighborhoods. As you can imagine, vacancy rates vary on area, type of home, price and several other factors.

It is impossible to say what typical vacancy rates are. In a recent study we performed for a client, we found rates varied from 1-7 months depending on area. If you gave us an idea of the exact neighborhood and type of property, it would be easier to give you an accurate and viable answer.
... more
0 votes 2 answers Share Flag
Wed Jul 7, 2010
Lucinda Tkach answered:
Ed,

It all depends on area! Could be 700 and up! I may know of one I was just checking on if you have credit and job history!

Feel free to contact me direct!

lucindat@longrealty.com ... more
0 votes 4 answers Share Flag
Thu May 13, 2010
Kent Gagon answered:
Canadian Investor,
Have you been to Arizona. I have seen some of your other questions and you ask some questions that really cannot be answered due to fair housing laws called steering! I think the best advice that can be given here is really in the form of a few questions.
1. What kind of a return are you looking for?
2. What price ranges are you looking in?
3. What is your ultimate goal in your investment strategy?
Answer those questions and I think you will be able to get some better guidance. But the best advice I can give is hire a buyers agent to represent you and discuss this one on one! Return on investment is best determined by individual buyers. Do you want a move in ready home? Are you okay buying fixer uppers? Do you want newer homes? What size homes do you want again so many things that need to be discussed to help you...contact a local Realtor and get some guidance that way, this is a tough forum to get the results you want. But I wish you the best of luck feel free to contact me through here or through my website for more information.
Good luck
Kent
... more
0 votes 1 answer Share Flag
Fri Feb 24, 2017
Cynthia Fleming answered:
It is difficult to know for sure, even if the prospective tenant has excellent credit. But you are correct in that there are a lot of people looking to rent who have recently lost their homes to foreclosure. That is a fact of the current market. You need to make sure that their income vs. debt ratio supports the rent that you are asking first of all. That they have a steady work record and if they are tenants who have rented before, you will have references to check with. There are also online services that landlords can use to report tenants who do not pay their rent on time or other negative experiences. You would want to consult with these services as well. I can only recommend that you do as thorough a check as possible, but no matter what, there are no guarantees. Good luck renting your property! ... more
0 votes 47 answers Share Flag
Fri May 14, 2010
Don Tepper answered:
Your major problem lies in the question "Anyone knows how much that will cost?"

You should be able to determine that fairly closely, but that'll vary by property. Here are some thoughts:

Commissions Paid to Find Tenants
Fully negotiable, but figure the equivalent of 1 month's rent.

Maintenance, Cleaning & Repair
Really varies. Long-term, figure about 1.5% of the home's value per year.

Cleaning (between new & old tenants)
A commercial service may charge about $300-$450.

Landscaping
That's open-ended. If it's just minor ongoing items, that can be included under "maintenance, cleaning," above. If you're talking about initial landscaping, it obviously depends on what's needed. Maybe $4,000-$6,000, very roughly.

Advertising Costs to Find Tenants
Zero, if you're using a Realtor. That'd be included under "Commissions Paid to Find Tenants."

Tenant Screening & Background Checks
Zero, if you're using a Realtor. Otherwise, $25-$50.

Legal & Accounting Fees
Depends. If you're not having problems with your tenants, legal could well be zero. Accounting depends on whether you're using the accountant to do other work for you, too. An accountant could give you better figures, but perhaps $300-$1,000.

Hope that helps.
... more
0 votes 5 answers Share Flag
Thu May 13, 2010
Jim Mitchell answered:
Hello Canadian Investor! That's a great questions that's best answered by an insurance professional. The rates will vary depending on many factors. Make sure you have all of the property specifics handy when you call.

I have an excellent insurance broker that I've referred several clients to in the past year. She can provide insurance on investment/rental homes, 2nd/summer homes, etc. for US and Canadian buyers.

Here's her info:

Karen Bongartz, API, AIS
Personal Insurance Specialist
DHR Insurance Services, a division of BDL Financial
Direct 602-508-2971
Fax 602-840-6531
karen.bongartz@dhrins.com

Feel free to call or email Karen, and she'll gladly give you a free quote over the phone or by email.

I've referred her to many buyers, including two separate Canadian investors, in the past year and they all said she was very professional and attentive to their needs.

Let me know if you have any other property questions or concerns.

Regards,

Jim Mitchell
Century 21 All Star, REALTORS
Cell: 480.231.6769
jim.mitchell@century21.com
... more
0 votes 5 answers Share Flag
Thu Jun 6, 2013
The Urban Team answered:
The Arizona chapter of the National Association of Property Managers has a weath of information. I've put their web site link below. Also, you might try Googleing "Property Management Arizona" and calling some of the pros. You might find some great info from them as well.

http://www.narpmphoenix.org/

Sorry I don't have a recommnedation myself, with just a few units QuickBooks Pro words find. Intuit also makes Quicken Rental Property Manager. I've found most of their products do a good job.

Best to you,
... more
0 votes 4 answers Share Flag
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