Why do property management companies in Phoenix get more for rent than DIY Owners?

There’s a big difference between $1200 and a $1500 rental!

For property management companies in Phoenix AZ, !t’s not bedrooms or features, it’s the landlords  pricing. It’s strange to think this would determine your success as a landlord—however, pricing your rental is a critical step in obtaining the right tenants. The ideal number is what’s fair for you and your tenants. You’ll need to perform independent research to determine your exact number:

1) Start with what you need to make!

Landlords must tackle how much they need to receive from their rental. First add together: the mortgage, insurance, taxes, listing fees, and upkeep. Once you have your out­-of­-pocket costs figured add ­in an additional 20% to cover times when your home is not rented and unexpected costs.

Wait!  You're not done, you’ll need to decide how much more you want to make on your investment before reaching your minimum rental price.

2) Shop the rental competition!

Online sites like Rentometer help you set a rough price; however, odds are you have a home that is roughly equal in value to those around it. Some of these homes are likely rentals as well, looking into these rentals to find their renting price will help you narrow your realistic price range.

Take into account: location, repairs and bedrooms. Using online sites like Trulia, Rent and Zillow will allow you to gain a bird’s­ eye view of your neighborhood. Remember to take note, not only of those rentals that lease quickly but, those that remain unrented for months.

3) Ask for Property Management help!

From large estates to family­ homes there's a rental price that will leave you and your tenants happy. In three years you don’t want to find you've let tens of thousands of dollars slip away because you undercharged. That’s where full-service property management companies can help home owners, they can provide inside­ information about rental pricing that isn’t available to the public. Choosing a very experienced local Phoenix property manager such as Kevin Kirkwood for your home rental is critical to your success as a local investor.

If you're having problems finding the right price for your second home, contact KRK Realty! Many times, they have been able to increase the rent enough to pay for the property management fees and produce more profit for their clients. Contact them now! There is a reason to select a great property management company in Phoenix AZ like KRK Realty & Management!