s an Owner of an investment property you want a company who will look after your best interests. This is what T&L will do for you. It is because of this philosophy that we will be very careful in the screening of potential Tenants (credit, employment, criminal and references) and of any vendors we use. You may be as involved in any aspect of the management of your property as you deem necessary.
What we do for you:
- Advertise on the internet and on our website
- Place property in the Multiple Listing Service (MLS)
- Place sign on property
- Screen Tenants
- Create legally binding contracts
- Collect deposits
- Collect rents
- Handle maintenance problems
- Pay your utility bills or HOA dues (from your reserve).
You will also receive at the end of each month a financial statement, copies of bills we paid on your behalf and of course your proceeds for the month. At the end of the year you will receive a 1099 for reporting to the IRS.
An Owner's responsibility is to keep the utilities on during the time the property is vacant. Below is a list of phone numbers for various utility companies. You can arrange to have the utilities switched over to your name when a tenant leaves and before a new Tenant moves in. If you would like you can have the bill sent to us and we will pay for it out of your reserve. You then have a good record (for tax purposes) of your expenses. Additionally this web site has some links to other sites that may be of interest to you. For example, the county assessors, Dept. of Real Estate, Secretary of State for the Tenant & Landlord Act. And more.
Owners FAQs
How much do property management services cost?
For more information, please give us a call at (480) 945-7755 or email us at Info@tlproperties.net
What is the status of the rental market today?
The rental market like most things is based on supply and demand. There have been many apartments converting into condos, which has forced renters out. The cost to buy a home has also gone up which makes it harder for someone to buy a place, especially first time buyers. All of these things are good for the rental market.
On the other hand in the past two years investors have been buying single family homes in record breaking numbers. This has flood the market with more rentals then we have ever had before. This makes pricing your property very important.
A major misconception is that the rental rates have increased with the sales rates. This is unfortunately not true. The rental market is all about price. Taking everything into consideration the rental market is still a good market but you have to have a good working knowledge of price. It is one of the most important factors of getting your place rented as quickly as possible.
How involved will I be in maintenance repairs?
We have found that some owners liked to be more involved then others and we will make every attempt to accommodate your requests so you can be as involved as much or as little as possible. If a repair is under $300 we typically do not call to inform you of the problem. Any example might be that the kitchen sink is leaking and we sent out a handyman to fix the problem. This is the type of repair that the majority of our owners do not want to be bother with.
If a repair was to exceed $300 you would typically get a call from our office. There are circumstances where we cannot make contact with the owner and have to make a decision. A decision is made always keeping the owners best interest in mind as well as following the guidelines of the Arizona Landlord & Tenant Act. We try to avoid this as much as possible but at times it is unavoidable.
How long will it take to rent my property?
There are a lot of different factors to consider when renting. Location and amenities are important factors when it comes to renting a property. We feel that price is one of the most important factors in renting a property. We also feel that renting to a qualified tenant is important. A tenant’s credit, rental history, and ability to but up deposits are important factors in renting. Waiting for a qualified tenant in the long run is more beneficial then renting to the first person who is interested. Keeping all of these factors in mind it typically takes 30 days to find a qualified tenant.
