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.

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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).”

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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.

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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.


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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.


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