Arizona Cities Seeing The Greatest Real Estate Growth In 2017

The article Arizona Cities Seeing The Greatest Real Estate Growth In 2017 is available on: Red Hawk Property Management
With the addition of approximately 217,000 new residents, the state of Arizona is one of the country’s fastest growing states. The new growth has resulted from an enormous economic turnaround, specifically the opening of the Apple plant in the Phoenix suburb of Mesa. There are an estimated 10,000 places available for new residents and homeowners, making the silicon Desert the place to be.
Are homes available? What you want to look for when analyzing areas for relocation and availability of homes, check ownership rates. A high ownership rate leads to a higher overall score, whereas a lower one shows high competition and more options for renters over buyers.
Can you afford to live there? To determine whether a place is affordable you want to use monthly homeowner costs and median home values. The higher score in our report go to high median homes with low coasts of living.
Is the area growing? To answer this, population growth will tell you if an area is attracting new residents. A thriving local economy will usually bring in more home buyers.
Using the above measures, the best places to live in Arizona are provided below. Each of these towns are ideal if you are looking for a place to buy a home. Evaluate what you are looking for regarding incomes, median house values and area growth you can determine which town is a better suit your needs.

1. Maricopa

With a population jump of 19.6%, this area located in the Gila River Valley is a top spot for relocation. More that 805 of homes are owned versus rented, and the median cost for a house is $132,000. Hosting the popular Harrah’s Ak-Chin hotel and casino, the town features a great historical collection of the Ak-Chin people. The casino is the largest employer in the area. The community additionally offers the Ak-Chin-Him-Dak Eco Museum which showcases stone tools, arts and crafts and jewelry.

2. San Tan Valley

This suburb in the Greater Phoenix Area had the highest population spike has not yet been incorporated as its own town, but did get its own postal code in 2009. With a median home value of $126,300 and an ownership rate of 74%, this area is quickly becoming a popular place. There is potential for growth here and the low cost of living makes it ideal for first time home owners.

3. New River

The residents here earn a monthly income close to $7,185 with 28% of that going towards home ownership costs. Situated to the north of Phoenix, the average home value is $312,200 and it has the highest ownership rates (90.7%). Overall the town has seen 11.23% in population growth. The attraction to this area comes largely from the low numbers of rentals, showing this is a preferred place for those looking to settle and purchase a home.

4. Sahuarita

A more technologically advanced area located south of Tucson; Sahuarita has median incomes around $5,700 and a relatively low cost of living. The majority of homes in the area are owned rather than rented. Most employment stems from the huge organizations located there such as Raytheon which is an international defense and aerospace company and the University of Arizona Science and Technology Park.

5. Queen Creek

Thanks to local festivals such as the Roots n’ Boots Rodeo and the American Heritage Festival, this area saw a boost in population numbers of 12.1%. One of the highest household incomes of the places on the list, averages for the area is close to $7,343 a month. Most homes are owned and cost of living is higher than other places on this list, but is still relatively low. Residents can enjoy an amazing Parks and Recreation department, with programs and activities for all ages and coming soon will be a new 14 screen movie theater.

6. Buckeye

Buckeye is located in the Maricopa Valley and supports slightly higher number of renters than the previous location; however it is still primarily homeowners. This suburb of Phoenix has not had as large of population increases either, but has a very decent median household income and low cost of living. The town is famous for its old times western theme and annual Buckeye Days festival and the Helzapoppin’ Rodeo.

7. Marana

A relatively young city, when compared to most of Arizona towns, the population soared by 2012 to reach a little over 34,000, which is a big jump from its previous 1977 count of 1,500. Although the city is not very big, it has its own airport and a decent monthly income close to $6,000. There is definitely room for growth here and the cost of living is low, which makes a potentially ideal spot to settle and buy a home.

8. Anthem

A relatively small town of 23,000 residents, this community is still a very busy one and offers a lot to its members. The cost of living here is slightly higher than others on the list, but monthly median incomes are also a little higher. You can enjoy the veterans’ memorial, Liberty Bell Park and the Splash Pad as well as the beautiful 64-acre community park hosted by the Community Council Parks and Facilities.

9. Green Valley

30 miles south of Tucson, there has not been a lot of growth here in regards to population and the median monthly income is significantly lower than the other places listed. Most of the residents are employed in the local copper mines or the Smithsonian Institution’s Whipple Observatory (located in the nearby town of Amado). The lower growth rates, incomes and home values ($182,000 on average) are most likely due to this largely being a retirement community.

10. Goodyear

The original land for this town was bought by Paul Lichfield (Goodyear Tire and Rubber Company). Affordable to live there with decent incomes and steady growth rates, the town has an excellent economic standing for potential homeowners. Jobs are provided mostly by Macy’s and Amazon fulfillment centers as well as the popular food production companies of Snyder’s of Hanover, Del Monte and Poore Brothers. This town is great for baseball fans, as it hosts both the Cincinnati and the Cleveland Indians spring training camps.


source http://phoenixpropertymanagementcompany.com/?p=2784

Simple Tips To Protect Your Rental Property From Liability & Lawsuits

Simple Tips To Protect Your Rental Property From Liability & Lawsuits is republished from: http://phoenixpropertymanagementcompany.com
If you are the owner of a rental property, it is likely that you have considered the liability associated with that. If you have real legal concerns, it is best to speak with a lawyer. There are, however, simple tactics that you can use to help protect you and your assets.
Purchasing rental properties is widely considered one of the best investment choices a person can make. Usually, you can buy them below market value which opens up the potential to make real money. There are real risks associated with being a rental property owner, such as being sued for money or because of injuries occurring at your property. Whether a freak accident occurs or someone gets hurt from landlord neglect, the risk of injury is a real problem facing owners.
As an owner, you need to consider if the returns you make on the property are worth the risks. Even if it is worth it, there are still precautions you can take to protect yourself. If your returns are decent, then you can afford to take additional precautions. If you are more limited in your options, it is best to consult with professionals to get the best advice on what coverage and precautions you should take.

Use a property manager

Managing your properties or someone else's increases your liability. There have been cases where an evicted tenant hurt themselves while moving out and turned around to sue the property manager. The tenant claimed that the landlord had broken his TV and left the glass in a window well. When he fell in the window well while moving, he claimed the injury was the fault of the landlord. Tenants can make a lawsuit out of almost anything, so it is best to be prepared.
Even after lengthy court cases and a verdict in favor of you, there is still a valuable lesson to learn. It is critical for landlords to have insurance; with liability insurance to cover issues like this the legal fees would have been covered. Talk to your insurance agent about getting liability coverage. To be a property manager in most states you need to be a licensed real estate agent first, and they require E and O insurance, so this is a good place to start.
As a property manager, you need to be aware of local and state ordinances. Take the time to research which forms and documents. A good example is that some states require you to sign lead based paint forms and to put up a flyer on all properties. You need to be careful because states can fine a great deal of money to get you to pay attention to the laws. You have to consider if you really want to risk losing money on something you had the time to research and take care of.

Create corporations or LLC's

Creating one or several organizations is a great tactic to protect your properties. Each property will need a checking account for all money associated with that location. Setting up a corporation is a simple process, taking no more than thirty minutes and there are several of online companies that will help you get started with the process. You have the option to have a lawyer set this up for you too, but they can cost around $750. This really is too high, considering you can do it yourself. Setting up an LLC can be fun, you can be as creative as you want when it comes to naming them.
You need to check with the bank that finances the property before transferring it to an LLC. The reason being that some bans have due on sale clauses, which means they can call your full loan if you sell the property. Even though the same individual owns the property and the LLC, it can still trigger the clause to be activated. Once a property is transferred to an LLC, it also becomes harder to refinance.

Homeowners insurance

Think of all the things that can cause damage to the property; frozen pipes, backed up sewers, trees falling and even natural disasters or severe weather. Working with agents to get the proper coverage for your properties is a necessity. Discuss all the possible coverage and find out what is not covered; some companies do not include floods and sewer problems. Each property will require different coverage so for each location evaluate the risks against the insurance costs to determine what will work financially and protect you.

Free and clear is not always best

Having a property free and clear with no loans open puts you at greater risk for lawsuits. People will be more inclined to sue when they are assured of a payoff, and if you owe nothing, you will have to pay more for any suits. Opening a line of credit against the property shows up in public records which can help you. Even if you do not owe anything, the full amount of the loan is what is visible, and it could protect you.
Hiring rental property services to take care of your properties and having proper and adequate insurance coverage is the best protection you can give yourself. Always use a reliable and knowledgeable insurance agent who has experience with rental policies. They can inform you of all the potential policies and explain them to you, allowing you to pick what is best for each of your properties.
It is also a good idea to hire an accountant to make sure all taxes are filed and handled correctly and a lawyer to take care of any possible legal protection you may need. It may be expensive to work with these professionals, but if you are new to the rental property owner game, it is a wise choice to get them involved. Understanding the risks and getting prepared early, will make and future problems much easier to deal with. You could stand to lose a lot with one lawsuit, so look into thoroughly protecting yourself, you will thank yourself later.


source http://phoenixpropertymanagementcompany.com/?p=2777

The Arizona Real Estate Market Prime for Rental Investors

The article The Arizona Real Estate Market Prime for Rental Investors is available on: Red Hawk Property Management Website Blog
With the Arizona Real Estate market experiencing a strong recovery, it is only to be expected that investors will be drawn into putting money into rental properties. Certainly, real estate investors within the state recognize the potential as the market continues to strengthen, but investors from other neighboring states are also finding the growth in Arizona irresistible.
If you are new to the idea of real estate investing it may not be clear to you all of the advantages of doing so. It takes time to learn the pros and cons, become familiar with the pitfalls and how to avoid them, and then once you begin investing it can take several years to build up a valuable portfolio.

Buying Rental Property: Overview

With diversification being the 'buzzword' in investing many people are taking the time to learn how to successfully invest in real estate. It is likely that you have already purchased Arizona Real Estate at some point in your life i.e. your home. Doing so gives you some idea of what it takes to go through the purchasing process. Buying investment properties is very similar but with some additional knowledge required.
You will go through the same research and assessment of your financial position to determine the value of the property you can afford and your ability to pay back a mortgage, and then armed with those numbers you go ‘shopping’ for funding. Where rental properties are a little different than residential homes is that the goal is to gain the largest return on your investment as possible.
Due to the goal of realizing the best return possible you are likely to find yourself looking at properties that you would never consider buying to live in yourself. Cash flow is crucial, and therefore you will be looking to buy properties that the rental income provides sufficient money to cover the mortgage repayments as well as all other expenses associated with the property.
Maintaining high occupancy with reliable paying tenants is critical, and at the same time keeping expenses to a minimum is also of utmost importance. The act of advertising a property for rent, vetting prospective tenants, and other issues that come with the management of real estate is what makes many real estate investors turn to a professional, knowledgeable and well-respected property management company. The value they bring to an investor makes their cost worthwhile.


source http://phoenixpropertymanagementcompany.com/?p=2772

Common Mistakes New Landlords Make & How To Avoid Them

The article Common Mistakes New Landlords Make & How To Avoid Them was originally seen on: Red Hawk Property Management Blog
New landlords of rental properties need to be aware of the size of the commitment they're taking on, in particular when it comes to financial and legal matters. Inexperience is nothing to be ashamed of, but it should be used not as an excuse but as an opportunity to seek out knowledge and experience from seasoned experts in the property management field and get their advice, so they are better prepared if they have to deal with safety issues or a troublesome tenant.

Here are six common mistakes for new rental property owners to avoid.

1. Failing to Screen Tenants Properly

Many inexperienced landlords will think they're saving money and hassle by not undertaking a full tenant screening process. They may be easily convinced by pleasant people with everything appearing right about their application. But it's vital to protect your investment with due diligence, doing a credit report, enquiring about the tenant with past landlords, and assuring yourself there's no history of late payment or aggravation or prior evictions.
Any landlord will want to avoid the eviction process if they possibly can. It's costly, time-consuming and unpleasant. A little extra time spent researching a tenant can save a lot of stress, and any honest tenant won't mind you doing it.

2. Lack of Legal Knowledge

Any departure from local and federal housing regulations from the moment you begin accepting applications from renters can put you at risk of litigation as a landlord. You must have an understanding of local habitability laws and the Fair Housing Act on a federal level, and ensure your property is compliant and legally safe and habitable.
It may seem a daunting amount of legal material to learn, but expert help is readily available, and this should be a priority.

3. Not Following Through On Late Payment Fees

Don't let any tenant get away with exploiting you by not paying rent responsibly and on time. An exceptional hardship as a one-off may be permissible if it's verifiable, but if you allow repeated late payments out of a desire to appear kind, you will be losing out on any return on your investment.
Hold tenants to late fees and ensure they adhere to the terms set out in their lease agreement.

4. Not Having Regular Inspections

Inexperienced landlords of rental properties may be tempted to save themselves the nuisance of arranging a regular property inspection. It's easy to believe the tenant will raise any maintenance issues promptly - but what if they haven't noticed them, or caused the problem themselves, or are trying to conceal something else?
Beginning each tenancy properly by making safety and inventory checklists, and checking all areas are well maintained, can save you costly and unexpected repair bills in future. You can enlist professional help from property managers to make sure the inspections are full and thorough. Seasonal inspections can protect against any faults or negligence escalating into critical problems in hot or freezing weather.

5. Not Having Full Insurance Cover

The worst possible situation for a landlord is to be liable without a sufficient insurance cover. Be sure to include specific landlord's coverage in your homeowner's insurance to cover situations such as somebody suing because they sustained injuries while on your property.
You should also insist on tenants having renter's insurance to cover damage on and off the property, as well as their own possessions. If your tenant accidentally causes water damage to the apartment below, you won't be faced with damages that the tenant is unable to cover. Experienced landlords often require this protection to be in place as a term of the tenancy agreement.

6. Not Using A Property Manager

It's a significant investment to hire property management for landlords to represent you in matters dealing directly with the tenant, but it's one that can save time and stress particularly as an alternative to managing a property for the first time.
If you are not prepared to go into detail with all the required knowledge of landlord and tenancy laws, or you find minor day-to-day rental issues are occupying more time than they should, then it's well worth considering investing in the services of a property manager. There is a trade-off between the management fees and the amount of time and stress property management will save you. If you have multiple rental properties to manage, getting professional help with the day-to-day running can pay off more.
These six common mistakes are part of the array of knowledge you should arm yourself with before investing in a rental property, and are a good starting point towards avoiding legal tangles and enjoying the returns that your investment brings you.


source http://phoenixpropertymanagementcompany.com/?p=2766

Foreign Buyers Increasingly Attracted To Arizona Real Estate

Foreign Buyers Increasingly Attracted To Arizona Real Estate is available on: www.phoenixpropertymanagementcompany.com
Foreign buyers like to purchase property in the United States because they see the real estate market in areas like Phoenix, Arizona are stable. According to a study by the National Association of Realtors, the international sales of US homes is at the second highest it's ever been in recent years. Owning property in the US is a significant investment. Foreigners are purchasing homes not only to live in them, but to rent out as well.
In the past five years, 70 percent of Realtors have stated that international clients have contacted them looking to potentially purchase a property. From April 2014 to March 2015, international buyers purchased $104 billion in American real estate.
Arizona is the third largest state for international sales. Florida and California are the top two. Texas and New York also sell a lot of homes to foreigners. These states make up 61 percent of international sales.
Arizona real estate is popular with foreigners because of the warm weather. There are some other factors as well. This includes the distance to their home country, if they have relatives already living there, and if there are opportunities for both jobs and education. Out of the 68 foreign countries that purchased homes in the USA, there are five the make the majority of purchased real estate. They are Canada, China, Mexico, India, and the United Kingdom. These countries make over half of all purchased real estate, with Canada and China leading the way.
Not all people from different countries like to make purchases in Arizona. Chinese buyers do not rank very high in the purchase of Arizona homes. Chinese buyers make the bulk of their purchases in California. They also like to make purchases in Washington State, New York, Massachusetts, Illinois, and New Jersey.
In the state of Arizona, Canadians make up 46 percent of the foreign home buying market. They are likely to purchase a home for a vacation use or as a rental property. They also are buying condos and apartments instead of single family home. Many Canadians are also purchasing homes in the state of Florida. They prefer the Sarasota and Venice areas as well as Palm Beach as opposed to Miami.

Canadians are the second largest group of foreign buyers of US Real Estate. Right behind China. pic.twitter.com/7YaUmVpdqq

— Steve Saretsky (@SteveSaretsky) 9 August 2017

Foreign buyers are important in the real estate market. They spend on average just under $500,000 on a home. Other buyers average a purchase price of $255,000. In addition to paying more for a home, they also spend more money on furniture, eat out more often at restaurants, and attend more sporting events. This is good for the economy. They are not only spending more on the home but spending more in general. Businesses are seeing an increase in their profits due to international buyers.
Realtors need to improve their skill sets when they work with foreign buyers. They need to have a global perspective of things and have experience working with those from a different culture. They need to learn different real estate practices to get along with others as well. The NAR will help realtors expanding their skills and work with those on an international level. A realtor can train to be a Certified International Property Specialist. Be sure to visit this association online to find out more information.


source http://phoenixpropertymanagementcompany.com/?p=2762

Why It Makes Good Sense To Hire A Property Management Company

The article Why It Makes Good Sense To Hire A Property Management Company is republished from: http://www.phoenixpropertymanagementcompany.com
Owning a rental property is one of the strongest investment options available for generating long-term income. There are naturally day-to-day duties and responsibilities connected with maintaining the property, dealing with tenants, and any other issues that arise. These are usually manageable and not too time-consuming when it involves only a single property. But once you get into the upkeep of a portfolio of multiple properties, the responsibilities can become more onerous. Your investment creates more stress and worry than you had bargained for, and the project is no longer enjoyable. Before things ever get that bad, it's time to engage the services of a professional property management company.
Typically, the property manager takes responsibility for the routine tasks that take up the most time and hassle for a property owner, so you are free to reap the rewards and enjoy your investment. Screening potential tenants, dealing with contracts, collecting rent and dealing with problems with tenants, repairs on site and ongoing maintenance are can all be handled impartially by property management companies. Many property managers are flexible and can offer a partial service for a negotiable fee if you or your contacts are willing or able to do some of these tasks.
Usually, the property manager will interact directly with rental applicants and tenants on behalf of you, the property owner. They can arrange the marketing and advertising of rental properties, hosting of viewings and meeting interested candidates, screening prospective tenants and collecting deposits and rents. Property managers can be the first point of contact for ongoing repair issues or emergency maintenance. They are also responsible for dealing with tenant complaints and can assist you in legal and practical terms if you ever have to deal with an eviction.
It is a significant investment to employ a property management company, and this is a factor which leads so many property owners to attempt to take full responsibility themselves. But for property owners with a full-time job, having the time and availability to look after a portfolio of more than three rental units can become too much of a challenge. The management fees make more sense when compared with the potential income from a larger stable of properties, and the relief of leaving the hard work to a professional manager.

Absentee owners, or owners of a widely distributed portfolio of properties, may find that hiring a property manager in the local area is the only sensible option.
If you'd prefer not to have to attend a plumbing crisis at 3 AM, repair and decorate woodwork or manhandle leaking washing machines, then a good property manager will have the know-how and a network of trusted professional backup to tackle these and all manner of problems daily. If you feel property maintenance and calling on skilled people to organize it is beyond your skill set, then enlisting a property manager is a sensible option.
There's a long list of issues that may arise with rental property. Using a property manager who's seen them all before and dealt with them is the best way to prevent problems from becoming nasty, expensive or stress-inducing surprises, and ensuring that your experience of owning and letting a property remains an enjoyable one.


source http://phoenixpropertymanagementcompany.com/?p=2758

Residential Rental Property: Is It A Good Investment?

The following article Residential Rental Property: Is It A Good Investment? was originally seen on: Red Hawk Property Management Website Blog
If you have money to invest and you are considering investing in residential rental properties, you may be wondering whether or not it is a good idea. In this article, we will go over the things that you should consider before deciding to invest in rental properties.

What Should You Consider Before Investing In Rental Properties?

The first thing you should decide is whether or not you are going to live in the building that you buy. If you rent out the entire property and you reside elsewhere, you would be able to deduct all expenses related to the building from your income. If you decide that you are going to move into the building, you would only be able to deduct the expenses related to the units that you are renting out. Should you decide to sell your property at some point, The portion of the building that you were living in would be exempt from the capital gains tax. If you rent out the entire building and you live elsewhere, all of you taxable gains would be taxable.
If you have a specific piece of property in mind that you are hoping to buy, you should make sure that the realtor's listing is correct. If the number of units in the listing is inaccurate, it can change the terms of the sale considerably. To get this information, check the assessment roll. For example, if the building has a basement and it is considered to be a livable dwelling, it will count as an additional unit, which means that you would need to put down a larger down payment.

How Much Of a Down Payment Can You Expect To Pay?

If you are planning on renting out every unit in the building that you purchase, you would need to make a minimum down payment of 20 percent of the price of the building. If you are planning to buy a duplex and you intend to live in it, you would need to make a 5 percent down payment of the purchase price as long as you have mortgage loan insurance. If you are buying a three or a four family building and you are going to live in it, you would need to put down at least 10 percent.
These down payment rules are the same universally for all American financial institutions.

What Are Other Fees Associated With The Sale?

There are several fees that you would need to pay besides the down payment. These charges include:

• Welcome tax
• Notary fees
• Inspection costs
• Property tax adjustment (The school taxes and municipal taxes that you would be responsible for)

To cover all of these fees, your American loan insurer would calculate a standard amount, which is 1.5 percent of the purchase price of the building that you are planning to buy. In some cases, unexpected issues can arise, which would cost you more money. To cover you if something like this should happen, many financial institutions including Wells Fargo recommend changing the number from 1.5 percent to 3.5 of the price of the building. The additional money would be put in a line of credit or a savings account that is easily accessible.

Besides the Building's Condition, What Else Should You Look For?

There are plenty of things that you should look for other than what the building looks like on the inside and out.
If you want to find tenants as easily as possible, you should look at how close stores, schools, and other important businesses are to the building.
If you aren't planning to live in the building, you should consider the proximity of your home and your rental properties to make it easier to collect the rent each month.
If you want to be sure that you are not overpaying when you buy the building, you should take a look at how much similar buildings were sold for in the last year. This is something that a realtor can help you with.
If the building already has tenants, you need to find out about them. Find out how long each tenant has been living in the building and when their lease expires. Also, find out how much the tenants are paying for rent.

Tips For New Landlords

You should make sure that the lines of communication are open between you and your tenants. You want to include every little detail in the lease and make sure that you put everything in writing.
Many financial institutions allow you to schedule the due date for your mortgage payments. You should schedule them for the middle of the month. This will give you the leeway you will need if some of your tenants don't pay their rent on time.
You should open up a separate bank account strictly for managing the building. If you have one account for rents, mortgage payments, and expenses, it can make accounting much easier.

What Does It Mean To Leverage Real Estate?

Leveraging your property is when you take out a second mortgage on your first investment property to purchase a second building if you don't have the capital to do so. In most cases, you can get up to 80 percent of the worth of your first building to put toward your second.

The Pros Of Investing In Real Estate

The reason that most people invest in rental properties is that they like that they can see and spend the money that comes in each month. If you have other investments and you want to diversify your assets, real estate is a great way to do this. If you want to own your own home but you are living on a tight budget, The rent that you collect from your tenants will help you make your mortgage payments.

The Cons Of Investing In Real Estate

Real estate investing isn't for everyone. If you like being a manager, it could work. To be a good landlord, you will need to have a lot of patience with your tenants, and you need to be available at all times to fix any problems that come up in the building. If you don't think that you can handle something like this, real estate investing may not be the best thing for you. If this is the case, you should meet with a financial planner to discuss other investment options.


source http://phoenixpropertymanagementcompany.com/?p=2747

Phoenix Real Estate Booming: The Valley Expected To Be The #1 Housing Market In The US

The blog post Phoenix Real Estate Booming: The Valley Expected To Be The #1 Housing Market In The US was first published to: http://phoenixpropertymanagementcompany.com

Hats off to Phoenix

According to the latest Realtor.com forecast, the top housing market in this country for 2017 is Metro Phoenix.
This distinction is not only welcome news, but it's long overdue. A constant increase in sales and escalating housing prices has put buyers on alert: Act now! Another fact that increases Phoenix's healthy real estate market is that today there are fewer foreclosures than ever before.
National real estate website, Realtor.com, has already predicted a rise in Phoenix area home prices of nearly six percent with sales very likely to top seven percent by 2018.
In this unique city where the Wild West, Modern America, and Old Mexico blend smoothly together, it's not only the encouraging price increases but the fact that 2017 promises to be one of the top home sales years for the Greater Phoenix Area.
This is fantastic news for the Valley thanks to the typically more affordable home prices in the West.
Los Angeles, along with Sacramento and Riverside, California also made it into the top five list for rising home prices in the West, all with higher prices and a general lack in many of the amenities Arizona offers. Even good neighbor Tucson, at this point ninth best hosing market, can expect a real bounce in prices this year.

Interest Rates are Rising

Unfortunately, the great news for the Arizona housing market is not without its downside: Interest rates are rising again, and of course, rising interest rates never help the real estate market.
Sales forecasts for this year are predicted by Realtor.com to drop in all areas of Arizona as higher interest rates go into effect. This applies not only to Arizona but to the entire nation.
Only a few years back, Phoenix went through a boom and bust making it more important than ever for potential buyers to keep their focus on the facts rather than pay attention to all the hype.
In 2006, when Realtor.com told that Phoenix was at the forefront in U.S. home price increases, no one cheered. This notable increase was primarily driven by buyers on a speculation spree that, as we know, turned into a dark morass of bad loans that resulted in the crash.
Experts appear to believe that the rising interest rates come from the anticipation of job growth and higher wages. Realtor.com predicts that interest rates may climb to 4.5% by next year.
Overall, most investors believe the sudden spike in interest rates over the past month results from the election jitters felt by investors.


source http://phoenixpropertymanagementcompany.com/?p=2742

The Elliot Road Technology Corridor Mesa, Arizona Project Overview

The post The Elliot Road Technology Corridor Mesa, Arizona Project Overview is courtesy of: http://www.phoenixpropertymanagementcompany.com

With the Silicon Desert slowly expanding into Mesa, the America’s most conservative metropolis is starting to attract the attention of technology heavyweights across the country. For instance, Mesa is already home to Apple’s 2 billion dollar global operations command center.

Key Factors that Are Attracting Businesses to Mesa

The business attraction can be attributed to the persistent efforts that have been put in place by the local government to further encourage economic development in the region. According to the city’s Economic Development Director Bill Jabjiniak, two things will attract technology companies and other companies—infrastructure and the efficiency of land entitlement process.

Mesa’s ‘Elliot Road Technology Corridor’ today has more than enough infrastructures in place to lure any serious American company or a multinational. For instance, the city’s massive power system installation, located close to SRP’s Browning receiving station together with the 69Kv, 230kv and 500Kv transmission lines are colossal power infrastructures with a capacity to supply more than enough energy needed for industrial operations.

Another factor that is attracting Silicon Valley businesses to Mesa is the ease of access to SRP’s extensive, redundant fiber network. Companies can take advantage of this massive and unused fiber network to connect with the world.

Likewise, the decision by the local government to set up the Eliot Road Technology Corridor Planned Area Development Overlay, after the Mesa City Council’s unanimous approval in September 2014, has slashed entitlement time in the corridor by up to nearly 80%. This is something that investors cannot ignore. The overlay extends across areas directly north of Elliot Road from Signal Butte to Hawes Roads.

Apple’s Significant Impact on the Elliot Road Technology Corridor Project

The corridor already has secured Apple, who decided to continue their presence in Mesa, after their contractor—GT Advanced Technologies, filed for bankruptcy, jeopardizing the future of the former First Solar facility it occupied at Ellsworth and Elliot Roads. Although the bankruptcy petition by GT Advanced Technologies was considered a blow to the city’s economic development plans, it was not a fatal one.

[caption id="attachment_2704" align="alignright" width="537"] Apple Inc. will be a major player in the Mesa, Arizona economy.[/caption]

For the Mesa local government, staying the course to accomplish the desired economic development goals has not been so easy, especially with so many hiccups along the way. The entry of Apple in 2015, who injected 2 billion dollars into the economy, provided the much-needed bailout to Mesa’s fragile economic development project.

According to Christine Zielonka who is the director of Mesa Development Services, one reason the technology heavyweight chose to stay on, following their contractor’s exit was the ease of doing business with the city.

The presence of the world’s leading technology gadgets manufacturer has been a major boost for the local government’s efforts to promote the Elliot Road Technology Corridor project as it has shown a spotlight on Mesa and given the city a chance to market its amenities not only to American companies but also to other companies around the globe.

Apple’s Presence Alone Is Not Enough for the Project to Pan Out

Even though Apple’s presence is promoting the Elliot Road Technology Corridor project the best way it can, much of the project still does not resemble Silicon Valley as the area still consists of so many undeveloped plots of land. The only way Mesa can fully realize the full potential provided by the overlay as well as the existing amenities is if the local authorities come up with several in-development and planned projects that yield results. The presence of Apple alone is not enough for the city to accomplish its economic development goals.

What Does the Future Of Mesa and Its People Look Like?

Nevertheless, the economic future of Mesa looks bright. Besides the nearly finished 94,000 square foot health facility on Elliot Road Technology Corridor, many other major businesses have shown interest and announced their intention to join the project. For instance, DuPont Fabros’s decision to construct a data center campus on a 56-acre piece of land at Crimson Road just north of Elliot Road in future is good news for the economic development project. Niagara Bottling also announced their intention to construct a 455,000-sqare-foot bottling plant in the area worth 76 million dollars. All these new entries will create additional jobs for the residents of Mesa and boost the economy of the region.

source http://phoenixpropertymanagementcompany.com/?p=2702

Boeing To Relocate Jobs To Mesa, Arizona

Boeing To Relocate Jobs To Mesa, Arizona is available on: Red Hawk Property Management LLC

Boeing executives have announced plans to relocate hundreds of workers and jobs in their Shared Services Group from Seattle, Washington to Mesa, Arizona within the next two to three years. The division comprises 8,000 workers and provides support services to the other Boeing

[caption id="attachment_2699" align="alignright" width="300"] Mesa's Falcon Field Airport is the relocation zone for many of the Boeing empoloyees.[/caption]

units. Boeing (NYSE: BA) already manufactures Apache helicopters and has cyber security and drone operations at Mesa’s Falcon Field.

In a statement to defend the move, a Boeing official had these to say:
“This move will ensure that we are properly structured and positioned to provide the right services most effectively to help Boeing grow its business. The steps include efficiencies gained from automation, adjustments of the management structures, and the consolidation and the relocation of some of the work that supports enterprise-wide services over the next few years to Mesa, Arizona, and other Boeing sites.”

Boeing management had these more to say:

“We have just started engaging our employees in talks to help them understand the process and obtain their feedback as regards the issue. We know that such changes impact our employees and have thus chosen to speak to them directly this early to grant them the opportunity to consider their most appropriate path as we work through this. We are still at the beginning of the process that is expected to take around two to three years, and as such, we are still unaware of the number of persons who will be directly impacted and in what way(s).”

source http://phoenixpropertymanagementcompany.com/?p=2698

Should You Self Property Manage Or Put Up With A Property Manager Fee?

The article Should You Self Property Manage Or Put Up With A Property Manager Fee? is available on: http://phoenixpropertymanagementcompany.com/

Most property owners are often faced with the question if it is cheaper to manage their property or whether leaving property managers to do it is a better option. While some consider managing their property so as to escape the extra fee of hiring property managers, it is worth that you know it is not all about the charge but what the fee has to do with the services. Hence to get the answer to the question as stated earlier, you need to consider all the factors that make you hire the property manager, such as the value of your time and get to see if the services provided by your manager are much more worth that the fees charged.

According to research, most property owners are on the move to hire property managers. There is an increase in the number of landlords who prefer to have property managers manage their rentals while there is a decrease in the number of those who manage their property.

I believe you are now wondering why such a trend and why opt to hire a property manager while you can do it for free. The reason behind this is simple. No one would consider going for an expensive option while you can get a cheaper option, which means that hiring a property manager is cheaper as compared to managing your property. However, how can this be true while you will pay a property manager and you don't need to incur any fee by managing your property? Let's have a discussion and discover why a property manager is worth your consideration.

Time is money

Managing your property when that isn't your full-time job will take much of your time, not to mention that you will probably have to spend much of your valuable time dealing with tenants. This is likely going to make you lose much money especially if you have to leave your business to deal with your rental property residents' issues. This can worsen if your rentals are too far from your residence or business area. However, no matter the situation you are in, you cannot forsake your tenants as this may just make you lose another income source which means that you will probably have to go out of your business for some time. Such situations will make you make losses on your business especially if you need to deal with your tenants frequently. To avoid losing your valuable time you should consider delegating some duties, the most convenient which is leaving property managers to oversee your property.

Knowledge of the law

Did you know that there are rules set for a property owner to abide by? Failure to comply with such codes will only lead to costly pitfalls. Being a property owner who has more valuable things to deal with, you probably will not have the time to research on such rules and regulations. Besides, keeping up to date with changes to such codes can be hard, which can cause you to deal with costly legal charges or even the loss of your property. To ensure that your property and every undertaking related to it is compliant with the law, hiring property managers is a good step to take as you can have the assurance that you will not fall in the illegal arms of the law. The reason behind this is that property managers keep track of the rules and regulations supposed to guide property owners, thereby ensuring that your rentals meet the required requirements.

Offsetting tax

Despite the fact that you ought to pay the fee arising after hiring a property manager, you can still raise your tax benefits. This results when the management fee is counteracted against your tax.
While there are several advantages of paying the extra fee and having experts manage your property, the choice on whether to incur the fee or to manage your property ultimately depends on you.

Make sure that you weigh the benefits of hiring property managers to the fee charged as well as the value of your time and ensure that you make the right choice.

source http://phoenixpropertymanagementcompany.com/?p=2691

Do It Yourself Vs. Professional Property Management Companies

The following blog post Do It Yourself Vs. Professional Property Management Companies is courtesy of: http://phoenixpropertymanagementcompany.com

Property owners are often faced with several challenges, the major of which is making the decision on whether to take charge of their rental properties or whether to leave their management to a property management company. While each of the options has its pros and cons, professional property management companies have more advantage over owners due to their great experience. Keep reading and discover why property managers are a better option taking charge of your rental property's management.

Understanding state and federal regulations

Let's face it. You as a property owner cannot follow up on the legal requirement as compared to professional property managers who deal with rental properties on a daily basis. Even though you will have some idea concerning the local rules, the fact is that you will hardly stay up to date. Failure to follow the required regulations can place you at a danger of violating the law thereby endangering your property finances and yourself. By leaving property managers to take charge of your rentals, you can rest assured to have no issues with the law as a result of your property not staying on par with the necessary current codes.

Handling the renting process

Did you know that the rental process can be quite cumbersome but you ought to pass through it? Once your rental property is ready for occupation, you need to get potential tenants. This involves establishing a budget to advertise your 

rentals and getting to the real advertisement of your property which involves placing of rental ads. Once prospective renters show up, you need to deal with all information required from them to enable you to screen for the right tenants. You should get their employment information, personal references, previous address, background information, all of which can take much of your time. Besides, you should always avail yourself when these prospective clients need to issue their documents. If you are in full-time employment, you will end up loosing many potential tenants as you might not be available when they need you. To stay safe, a property manager is better off taking charge of your property. After all, they are familiar with the rental process aspects.

Screening and selecting the best tenants

You do not want to involve your property with renters who will always give you a headache. However, failure to properly screen your tenants will just cause you to have stubborn renters. Without the experience and knowledge to distinguish those who give you true information versus those who lie, you will likely end up giving your rentals to untrustworthy persons. Besides, if you rush to pick tenants due to lack of enough time to screen all of them, you will also fall into the trap of accepting renters who will give you problems. Property managers can guarantee to give you the best tenants. They have the experience and knowledge to determine genuine residents after the interviewing process, therefore, giving you the guarantee of only getting the best renters.

Establishing rental rates

The amount of rent set for your property determines whether you will be successful to get the number of tenants you want for your rentals. Setting a price that is unrealistic only discourages residents from renting your property. After all, they consider apartments where they can save. In as much as you may have a value in mind of the price to set for your property, this amount may be unrealistic as compared to the market value. Property managers can set realistic rental rates for you, as they can access the current rental data to help establish the appropriate rates for your property.

Handling rent collection

Rent collection is something that you will have to deal with monthly. Despite the screening process as mentioned earlier, you will probably come across some tenants who pay late due to financial constraints or a bad month. Following up on late payments can give you a headache as this will interrupt your daily duties. Management companies will save you from handling all rent collection issues in your property. They will handle all monthly payments and late payers giving you a peace of mind.

Tenant communication

Dealing with complaints from tenants can be stressful, especially for a rental property owner who stays far from the rentals. You do not want to imagine having to travel all the way from your home or business just to go and get someone to deal with a plumbing or electrical issue in your property. With property managers, you can rest assured never to have to deal with small problems in the rentals, as they will have that catered for. They handle all day to day issues arising from the renters thereby giving you a peace of mind.
From this discussion, many benefits arise if you decide to leave property managers to oversee your property. They save much of your time allowing you to spend it on valuable things. Moreover, the amount of fee you pay to these professionals is much less than the value of their services. Hence if you are confused between getting a property management team to oversee the running of your rentals or whether to do it yourself, it is recommendable that you consider hiring a property manager.


source http://phoenixpropertymanagementcompany.com/?p=2673

Can Phoenix Live Up To Rising Real Estate Investment Expectations?

Can Phoenix Live Up To Rising Real Estate Investment Expectations? was originally published on: www.phoenixpropertymanagementcompany.com
Phoenix is projected to be ranked as top housing market by realtor.com in the year 2017.
Brad Hunter, the chief economist with Colorado-based homeAdvisor Inc, also said that Phoenix should be expected to see better gains in the year 2017 as compared to other competitive real estate markets.
The last recession and crash that hit the real estate market in the US saw other markets have a better opportunity of recovering as compared to Phoenix.
Regarding prices, Phoenix has a greater chance of improving than the rest of markets such as the Denver and Coastal market. According to Brad Hunter, Phoenix began its recovery later than many other markets, as they had to start from the bottom to ensure that there is a good strategy to help in attaining healthy gains in the year 2017.
Realtor.com estimated Phoenix to increase 5.9 percent in price and expects a sales growth of 7.2 percent by the end of 2017. Other people who see the prosperity and healthy development of Phoenix are Andrew Glenn and Bryce Lugo who are agents with my Homegroup Real Estate LLC. Glenn stated that there would be a continuous growth of year over year of up to 5 to 6 percent in Maricopa County Arizona.
Therefore we can boldly conclude that a lot of people have faith in the survival and growth of the Phoenix market. The market had its best-selling year in 2016 since 2006, and the sales of the existing as new homes are worth 115,837 as stated by RL Brown Housing Reports.
For existing homes, the sales from the year 2015 went up by 99,955 dollars which is estimated to be 7.2 percent increase, while new homes went up to 32 percent from 2016 and closed with an increase of over 15 thousand dollars.
According to RL Brown, Phoenix needs to come up with a new pricing structure so they can be able to catch up with the rest of the United States. This is because the median resale of the existing homes in Phoenix market was estimated to be 216000 dollars and had a percentage increase of 0.23% which was quite small in the earlier year. After increasing their prices to 315,157 dollars, the percentage sales rose from 0.23 to 1.38 percent which is good markup. Lugo stated that the high increase of rental prices might also lead to people opting to buy homes instead. If the rental prices shoot to 1600 dollars to 1700 dollars per month, the incentives to rent a house goes down.


source http://phoenixpropertymanagementcompany.com/?p=2668

The Metro Phoenix Apartment Market’s Promising Outlook

The Metro Phoenix Apartment Market’s Promising Outlook was originally published to: Red Hawk Property Management Website Blog
The Phoenix metro rental market continues a two-year ascent, showing no signs of stopping anytime soon. What really could be the reason behind the increasing demand for rental property in Phoenix?
[caption id="attachment_2665" align="alignright" width="327"] An aerial of recently developed areas in the Phoenix valley. Photo courtesy of the International Space Station.[/caption]
According to Stephanie McCleskey who is the vice president of Research for Axiometricks, outstanding job growth is the most important factor. McCleskey asserts that with over 3% annual Phoenix job growth rate, the huge demand for accommodation is consuming a huge portion of new property supply.
According to his organization, Phoenix businesses created 56,800 in 2015. The data provides evidence that real estate companies are in a rush to add another 4612 housing units in 2017, after supplying 7093 units in 2016. Looking at 18 submarkets with over 1000 units, the 2016 data ranked the valley cities with the most growth as follows;

1. South Glendale—11.0%
2. South Mesa—9.1%
3. Sunny Slope—8.2%
4. East Mesa—7.9%
5. North Glendale/Peoria—7.3%

Despite mortgage rates currently being at their historic lows, Phoenix remains one of the most promising property markets across the nation. The cost of rent has gone higher for the 23 of the past 24 months so is the apartment occupancy.
Nathan Pierce—principal at Strong Tower Realty in Scottsdale advises tenants to consider low or no down payment programs and acquire homes rather than rent. He believes that renters are spending more than they would on a mortgage payment. “In our market, you could save 25% by buying a house outright instead of renting,” says Nathan. He goes ahead to point out that people are spending more when they sign a lease and they are missing out on tax breaks like interests, property tax as well as mortgage insurance by not choosing property acquisition over rental.


source http://phoenixpropertymanagementcompany.com/?p=2664

Arizona Real Estate Will Be An Excellent Investment In Coming Years

Arizona Real Estate Will Be An Excellent Investment In Coming Years is republished from: http://www.phoenixpropertymanagementcompany.com

If you are looking to purchase a home in the Phoenix, Flagstaff, or Prescott areas in Arizona do it now. In the next couple of years, the prices are expected to increase. A single family home is a significant investment in the Phoenix area. Apartments also have a real potential in this area. Homes are also being split into different rental units. Mortgage, as well as construction loans, have a lower risk to lenders than before. Rentals are great investments in Phoenix as well as Tuscon and Prescott.
Investing in Arizona provides many great opportunities. This is like the Florida of the west where people go to retire only without the swamps. There are so many opportunities for investors. In addition to the proximity to the major cities, Prescott has a lot of offer retirees. Flagstaff has a younger population, and Yuma is a location where immigrants tend to start off. Each of these cities have different housing needs.
The need of homes will increase as the economy increases in a city. Phoenix sees the development of new jobs at twice the national rate. These jobs are in the healthcare industry, retail, and finances. Prescott also sees job growth and development. They need people to work in healthcare and retail to serve the elderly population. Tuscon sees a decrease in growth. Flagstaff relies on the tourists for most of their industry.
Home prices in the state of Arizona rose and then drastically fell. The prices in Phoenix and Prescott went up again when people purchased properties that have been foreclosed. There has been a spike in sales again in the cities of Phoenix, Flagstaff, and Prescott. The sales have been weaker in Yuma and Tucson. Over the next three years, home prices in Phoenix are expected to increase by 25 percent. Now is the time to buy. Pries in Phoenix are very strong but not as strong in the surrounding areas.
Almost 40 percent of the population in Flagstaff, Tucson, and Phoenix are renters. The price of home ownership is very high. Investing a single family home is more reasonable in Phoenix. The homes can be split into several rental units. The health care sector, as well as the retail sector, may not pay that well but people will be looking for rental units for years to come.

Mortgages are a sound investment in this area. The prices for homes will continue to rise, the equity will continue to grow, and the risk of default will stay around the national average. Construction loans have an average risk. It is expected that over 60,000 new homes will be built in Phoenix over the next three years as well as an additional 60,000 apartments. In Prescott, it is estimated 5,000 homes will be built and in Tucson 5,000 apartments. Flagstaff and Yuma may have less than 1,000 new construction projects, and many of them will be apartments.
Due to the growth in population, it may be wise to invest in retail stores and eating establishments in Phoenix. Pinal County does not have enough of either. Flagstaff has more competition and pay will go with the cycle of tourism. There is no growth in retail in Prescott, and the retail market has declined in Tuscon. Office space is a good investment in Phoenix due to the increase in the financial and the health care sectors.


source http://phoenixpropertymanagementcompany.com/?p=2660

As The Phoenix Real Estate Market Booms, Rental Prices Skyrocket

As The Phoenix Real Estate Market Booms, Rental Prices Skyrocket is republished from: Red Hawk Property Management Website

The prices for homes are increasing all over the country. Homes in Phoenix are expected to surpass the national average.

In the month of May rent was 2.6 percent higher than it was the past May according to the Census Bureau.

Phoenix saw a 4.9 percent increase from the previous May.

The growth in 2017 has been happening quicker than in 2016. The calculations for the increase use data from apartments and single family homes. Government data is also used to come up with these figures.

The population in Phoenix is quickly growing. The Mayor, Greg Stanton credits the growth due to additional jobs in the health care field. Home sales are also increases where first time home buyers are making the switch from renting to owning a home.

The average rental cost of a two bedroom home in Phoenix was $1,020 in the month of May. The national average is $1,150.

This report does not include North Phoenix, but other nearby cities had higher rent costs than the rest of Phoenix. The town of Sunrise charged $1,340 in rent for a two-bedroom apartment while Gilbert got $1,350.

Two bedroom apartments in Bela Rosa, Talus Ranch, and other areas in Northern Phoenix ranged from $975 to $1,150. Two bedroom homes were listed at prices from $1,495 to $2,250.

source http://phoenixpropertymanagementcompany.com/?p=2655

Implementing Energy-Efficient Systems In Homes For Property Managers

Implementing Energy-Efficient Systems In Homes For Property Managers is republished from: Roger Hickmon

If a property manager makes energy saving investments, they can save a large sum of money over time. It is important to save as much money as possible on energy costs when operating property.

Real estate and property managers often spend a lot of money to make money so it is important to look for ways to save. The property manager can control the energy used by making some energy-saving investments. Here are some tips to reduce the spending on energy. These tips can offer some significant savings over time.

1. Purchase New Appliances

While many property managers look for the least expensive products it can cost them more in the long run. The cost of energy saving appliances may be higher at first but they use 50 percent less energy than regular appliances. Look for appliances that have the Energy Star rating. They have been proven to use less energy. This equals savings in the long run.

[caption id="attachment_2651" align="alignright" width="200"] Look for the energy star logo when purchasing appliances.[/caption]

2. Energy Management

If the energy output is not watched the price can go up very quickly. Managing the output is important but so is predicting future usage. As the market changes due to things such as weather having the right items and the correct information is needed. There are so many factors which affect property management that are beyond the control of a property manager. Spending on energy should not be included. When watching the output changes can be made as needed to save additional money.

3. Switch to LED

LED'S are 75 percent more energy efficient then other bulbs, they are weather proof , and as an additional bonus they are better for the environment. They last for a much longer period of time then regular bulbs as well. These bulbs may cost a little more but they will save money over time. There are also tax rebates and other incentives. Companies will often add the installation costs into the monthly electric bills. This will provide options on how to pay for the lights over time.

4. Retro Commission

Everything needs an inspection from time to time. The property should be inspected to see that it is operating at its peak performance. This is called retro-commissioning. Anything from the HVAC unit to the electrical systems can be inspected. This will reduce the amount of energy that the building is using. It may lower operating costs by at least 15 percent if not more. This may catch smaller issues before they become an expensive repair in the future. A property manager may have to invest in upgrades but the benefits in the long term can be well worth the cost.

If you are in charge of a real estate company or work as a property manager, then you know that saving money it important. Saving more means a higher profit. It takes planning and precision to save money. Smart spending can put you ahead of your competitors. These tips will help you come up with a business plan on how to save money and increase your profit in the long run.

source http://phoenixpropertymanagementcompany.com/?p=2649

Six Situations Where a Property Management Company Can Save You Time and Money

This article by Jason Falcon was originally posted on The National Real Estate Investor and can be viewed at

If you struggle with any of the following situations as a landlord, you could greatly benefit from working with a trusted property manager.

While many individuals are tempted to follow the DIY route by becoming their own landlords, there are several situations where a property management company is better equipped to deliver stronger profit margins.

If you struggle with any of the following situations as a landlord, you could greatly benefit from working with a trusted property manager.

Determining the Optimal Rental Rate

A professional property manager has access to the tools and information you need to set the optimal rental rate for an investment property. To determine this rate, the property manager needs to achieve the ideal balance between maximizing the monthly income levels and maintaining a low vacancy rate.

By conducting intensive research of the local real estate market, including a cross analysis of local rental properties that are already listed on the MLS, a property manager is best equipped to set the optimal rental rates for your investment properties.

Collecting Rent Payments on Time

While collecting monthly rent might seem like an easy task, it is far more time-consuming and challenging than most landlords anticipate. And failing to collect rent on time can lead to insufficient funds in your account, which leads to a whole host of other problems.

Fortunately, professional property management companies have a tried-and-true system for efficiently and effectively collecting monthly rents. From automated payment collection systems to clearly articulated late fees, property management companies will ensure that rent is collected on time each month and that it is deposited safely into your account.

Marketing and Advertising Your Rental Properties

Have you ever tried to sell something on Craigslist? If so, you might have experienced the all too common phenomenon of price slashing. People turn to Craigslist looking for a bargain, meaning they are less likely to pay the full price.

That scenario also happens to DIY landlords. Due to a lack of experience with real estate marketing and price negotiation, landlords are more likely to experience price slashing and take the first offer that walks through the door. Property managers can help you successfully market your rental properties to the right group of tenants. They can also market rental properties on a wide variety of real estate search engines, as well as the local MLS.

Complying With Housing Regulations and Property Laws

Landlords must abide by the countless housing regulations and property laws. A failure to comply with those regulations, including the fair housing regulations, can result in serious lawsuits.

Unless you are well-versed on the local, state and national regulations and housing laws, you should work with a property manager. Not only can they help you avoid costly lawsuits, but they can also ensure that your property is up-to-date with the latest regulations.

Investing in Multiple Locations

As a DIY landlord, you’re limited by the ability to invest in properties located within a tight radius of your home. Unless you want to spend the majority of your day driving around from property to property, you are better off hiring a property manager who specializes in the entire area. An experienced property manager will give you the flexibility to diversify your real estate portfolio without having to invest more of your valuable time.

Maximizing the Profitability of Your Time

The old adage, "time is money," is all too true in the world of real estate investments. A property manager is best equipped to handle the day-to-day aspects of managing your investment property, which means that you are free to spend your time identifying additional investment opportunities. By working with a property manager, you can increase the profitability of your time and enjoy the monetary benefits that ensue.

The bottom line? Property managers are here to help. Whether you’re having a hard time setting the right rental rate, or you’re worried about complying with the local housing regulations and laws, hiring a property manager can save you time, effort, and help you increase your ROI.

Jason Falcon is the owner of LEAP Property Management, a full-service property management company in Denton, TX. LEAP manages over $100 million in real estate.