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Ask The Expert
PEACE PROPERTIES ANSWERS YOUR QUESTIONS
Q: What does a property management company Q: Can’t I just put my property online to find do? tenants?
A: A good property manager will interact directly, A: Experienced property managers are experts in on your behalf, with applicants and tenants. Realtors finding good tenants and will take care of all the will market and advertise your rentals, meet with details including securing all criminal background prospects to host showings, pay vendors, pay the and security checks, running credit reports, HOA, deposit money into your bank account, and verifying employment and collecting previous coordinate repair issues. They will also provide landlord references. the proper documents for rental and year-end tax purposes and interact with the HOA. Q: What should I look for in a property
management company?
Q: Doesn’t it cost me more in fees to have a A: There are a handful of things to look for including: property management company, than self- • How many years of experience do they have? managing? • Tenant retention. When tenants renew their leases, A: Setting the right rental rates can help absorb the fees of a management company and makes you more the investor saves money. Find out their average tenant occupancy. PROPERTY INFO:FOR LEASE - ±3,200 SF EACH (3) Units New Construction money. Your property manager will do research to INDUSTRIAL WAREHOUSE - CAREFREE LOCATION • Accessibility. Quick response to questions and Reception, (1) Office, (1) Bathroom find out what the rent should be on your investment. 34207 N. BLACK MOUNTAIN PARKWAY, PHOENIX, AZ 85331 concerns of the owners and tenants keeps the room $1.30 PSF /Mo. (IG) If you don’t have experience in setting rental rates, for error low. you could ask for too little, therefore losing money – or ask for too much, also losing you money with a longer vacancy. Property management companies typically have less vacancy loss, tenants stay longer, FOR LEASE - ±3,200 SF EACH (3) Units INDUSTRIAL WAREHOUSE - CAREFREE LOCATION 34207 N. BLACK MOUNTAIN PARKWAY, PHOENIX, AZ 85331 • Vacancy loss. • The companies understanding of landlord/tenant laws. Ensuring the property is run in accordance with the law is critical in both preventing lawsuits PROPERTY INFO: New Construction Reception, (1) Office, (1) Bathroom $1.30 PSF /Mo. (IG) pay on time, and take care of your property. All of and shielding yourself from liability if you are sued. these things save you money in the future. Familiarity with contracts is also very important, as
your rental agreement is the only binding agreement between you and the tenant. • Monthly and annual accounting and reporting methods. Timely reports on income and expenses are important.
Peace Properties is a full-service property management and real estate sales company that specializes in providing exceptional customer service on all levels. For more information, visit www.PeacePropertiesAZ.com
FOR LEASE - ±3,200 SF EACH (3) Units INDUSTRIAL WAREHOUSE - CAREFREE LOCATION 34207 N. BLACK MOUNTAIN PARKWAY, PHOENIX, AZ 85331 FOR LEASE - ±3,200 SF EACH (3) Units INDUSTRIAL WAREHOUSE - CAREFREE LOCATION 34207 N. BLACK MOUNTAIN PARKWAY, PHOENIX, AZ 85331 PROPERTY INFO: New Construction Reception, (1) Office, (1) Bathroom $1.30 PSF /Mo. (IG) PROPERTY INFO: New Construction Reception, (1) Office, (1) Bathroom $1.30 PSF /Mo. (IG)
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