Month: January 2018

Secrets to Keeping Your Renters Happy

azresmgntadmin

As a landlord, it’s essential that you keep your renters happy. When you do so, renters are more likely to pay their rent on time, and renew their lease when it comes time. This in turn helps you to have better cash flow and eliminates the need to find a new renter every year. Even better, it keeps you from having down time, when there’s no renter at all. Here are the secrets to keeping your renters happy.

Take Care of Repairs in a Timely Manner

One of the most common renter complaints is landlords not taking care of repair requests. Of course, this is difficult, especially if your rental property is far away from where you live. You can easily solve this issue and respond quickly to renter repair requests by enlisting the services of a property management company such as AZ Residential Management. This service ensures that repairs and maintenance issues are dealt with in a timely manner.

Make it Easy to Pay Rent

Most tenants want to pay rent on time, but sometimes find it hard to do so, especially when they have to wait for the mail with their checks to be delivered. As a landlord, it is frustrating to be waiting for a check to arrive. When you hire a property management service like AZ Residential Management, your tenants have a special online portal, where they can easily log in and pay their rent instantly. No more worries on your tenant’s part means happier renters in general.

Be Responsive

Every renter wants to feel like their questions and concerns are being heard. If your renter emails or calls you, it’s best to respond as soon as possible, even if it’s just a quick note to let them know you’ll be getting back to them later. When you are responsive with your renters, they will be like that with you, too. Communication is the key to all good relationships, including those between renter and landlord. An easy way to ensure responsiveness is to hire a property management service. At AZ Residential Management, your renters get the kind of personal attention they will appreciate. Our representatives are ready to help your renters find answers to all their questions at any time of the day or night.
Keeping renters happy ensures that you have an easier time with being a landlord. After all, happy renters pay on time, take care of your property, stay longer, and give you good referrals. For help with all your landlord needs, call or email AZ Residential Management today. We help you keep renters happy so you can be happy, too.

 

3 Reasons a Rental Property Can Make a Great Investment

azresmgntadmin

Rental properties can make you a great deal of money. You just need to take the time to maintain the property and find renters who always pay on time. Though most people know that rental properties have the potential to make them money, many are still hesitant to take the time to get a rental property. They may not know just how easily a rental property can make you money. Here are three reasons you may want to invest in rentals.

1. Can be Hands off managed – this is a great benefit because not everyone has time to micromanage or be an in state landlord for their rental properties. Instead, you can take the time to hire a manager such as AZ Residential Management that can manage the day to day operations and you can sit back and relax knowing the job is done by a professional company. This gives you the freedom to go about your business while still making a rental income and only getting involved when there are issues that need to be resolved by the property owner.

2. Can make Passive Income – your rental properties, though from time to time you might have to do some work to it, have the ability to make what is referred to as passive income. Many months when you are not doing any repairs or needing to put in any money to resolve issues, they are making passive income. This means that you are making money simply by owning the properties. This means you can make money while doing little to nothing which is highly desired by many rental property owners.

3. Tons of Tax Write Offs- there are also tons of write offs that you can take from your rental properties which is going to help lower your overall tax liability and is also going to make your rental properties worth even more. You can write off improvements, costs of your managers, costs of employees, contracts for work on the properties, and even the cost of cleaning up after a renter leaves. This means that even though you are making money with your properties, it is not all being reported as income and can be balanced out with the help of the write offs that you and your tax preparer write against the properties. This means you are going to have a better opportunity to make more money.

For those that want to learn more about the benefits of rental properties or services to manage their existing rentals, you can visit https://www.azresidentialmgmt.com.  

Make Your Home Safe with these Puppy Prepping Projects

azresmgntadmin

The day’s finally arrived to bring home your precious bundle of joy. You’ve patiently researched and waited to adopt the perfect furry canine friend. You shopped for the cutest matching collar and leash. You bought the monogrammed doggy bowl. You studied which food would be the most nutritious. You even remembered to order their customized ID tag.

But did you remember that the plant in your backyard might be poisonous or that the medication on your bathroom counter is also a hazard? What about those piles of Legos in junior’s room, or grandpa’s old coin collection in the study?

Bringing home your new puppy is just like bringing home your new baby. You need to be prepared. Both your yard and the inside of your home are filled with hazards that can be a risk to your pet. Forget to wipe up that antifreeze on the garage floor before you let your new puppy in the house, and your new loved one could be one of the 10,000 dogs and cats that die each year from that toxic substance alone.

So before you bring your pup through the doors of his new home, tackle these projects.

A property management company can reduce the overall cost of maintaining your rental property

How A Property Management Company Actually Saves You Money

azresmgntadmin

Rental properties are a wonderful way to make income but they also comes with a great number of maintenance issues that you have to keep in mind in order to keep them up to livable standards for your tenants. What might not seem like a huge deal to you at your own home may require immediate attention in the eyes of your tenant and it is your job to fix issues as they arrive.

So, how do you help to offset the cost of maintenance when you have to keep your properties looking great? Property management companies like AZ Residential Management can make a huge difference in the overall cost of your maintenance by a great deal. The first way that a property management company can help is to find the contractors that offer the best deals.

Most property management companies are going to be in contact with reliable companies that can quickly and cost effectively fix things that go wrong. The longer you wait to repair issues as they pop up the more likely you are to run into a larger bill that will result in more time that your property is not usable and more time that you have to lose money.

Property management companies like AZ Residential Management can also handle the overseeing of repairs which means that you are not going to have to take time off work to make sure they are done right. This means that you can spend more time at your day job or doing whatever else it is that needs to be done and do not have to worry that your repairs are being carried out.

On top of all of that, it also helps that you can then not have to worry about things like the basic repairs that you have to have done on your properties. Some property management companies even have staff on hand that can repair the issues on their own so there is no need to hire an outside contractor. This saves you hassle and worry and makes it possible to focus on other issues that you may be dealing with so that you are not required to waste all your energy on repairs.

Overall, residential properties are a great way to make money but repairs can get pricy. With the right property management company you can save money and aggravation and get your properties in great shape without having to spend all your money and without having to spend all your time trying to figure out how to fix the issues at hand.

If you’re looking for an experienced professional team to help manage your rental properties, then please contact AZ Residential Management. Our friendly team will be happy to assist you.

Rental property not only gives extra income but also offers great tax benefits

Important Tax Breaks you get from Your Rental Property

azresmgntadmin

Rental properties are a great way to make some extra income without having to devote every hour of your work week to sitting in an office. Though they are a great way to make relatively passive income, they are not without work so finding great tax breaks to help buffer any costs you may have for maintenance is a must. The expert team at AZ Residential Management has a few important tips to share on how you can get this biggest tax breaks possible.

There are tons of tax breaks that you can get that relate directly to your rental properties. These breaks will help to reduce the overall taxable income that you have to worry about from your properties so that you can make more money and offset any costs you may have.

The first tax break that you always want to keep in mind is the cost of employees and any independent contractors that you hire to help maintain the properties. You can deduct the salary of your employees, the cost of services like contractors, electricians, plumbers, architects, landscapers, and more. The reason you can deduct this is that it is an expense that you have against your overall profit that is used to keep the property serviceable and usable for your tenants.

Another expense that you can deduct are things like utilities, taxes, reasonable repairs, and even travel costs that you may incur while managing your properties. The only way you can deduct utilities is if you pay them for your tenants. You want to make sure that when you do start file your taxes that you take the time to really look at what you can deduct and take the time to deduct each and every expense that is deductible. You can also deduct the cost of a property management company if you use one like www.azresidentialmgmt.com.

Rental properties are a great way to get the extra income that you need but they can also be a great deal of work so you need to make sure you take the time to find out what expenses can be taken out of your overall profit to reduce the amount of money that you have to pay taxes on at the end of the year. A great solution is to hire a property management company like AZ Residential Management. The amount of time and hassle they save you is well worth the expense.

If you are planning on using anything as a deduction you want to make sure that you have accurate and complete records of any expense that you intend to deduct. You also want to take the time to have receipts and documentation to prove that the repair was done and that you have these records on hand and in a safe place so that if you do receive an audit, you will have the information you need to prove your expenses were justified.