Don't Deal with difficult Tenants in your Rental Home!

Dealing with difficult tenants

 Now that you have moved in your tenants and completed their inventory of maintenance fixes, the rental honeymoon begins! Or does it?   It depends!

Difficult tenants are a problem for many landlords, so don’t let your next troubling tenant catch you off-guard. Even the best property management companies run into tenant issues. Its important that you do everything you can to avoid the big ones since tehy can leave you on the hook for several months of rent and extensive damage to your home. Here’s how to stop a potentially bad situation from happening as taken from KevinKirkwood, broker and founder of top rated KRK Realty and Management, a Phoenix area property management company:

1.    Establish Rental Rules:

Every tenant will likely be late once or twice in their life on rent, some things happen. How you deal with late payments will set the tone for the remainder of your rental agreement. Having rules that you follow will help keep your relationships mutually respectful. Explain your rules during the showing and the move in – be sure to point out your late fees and payment schedules. There’s a difference between being a push over and being flexible. If your tenant needs to change the rent payment to the 6th  instead of the 5th because of their pay schedule, that’s flexible. If the tenant wants to pay you this month’s rent, next month – that’s unreasonable. Working with a an experienced property manager in the housing market like this Phoenix Property Management Team, is the key to knowing the difference between a onetime error and a long-term record of poor payment.

2.    Know your Landlord Rights:

Evicting a bad tenant is a long, drawn-out process and landlords can be held accountable for not following the correct procedure – if you need to evict a tenant it’s best to consult a professional. While the legal system is very clear and can render a verdict within 2 weeks of the start of eviction the battle will likely require multiple trips to the court and your tenant can ask to delay the hearings – all while continuing to live rent free in your home. Working with a property management company like KRK Realty and Management removes many of these concerns as they are able to evict tenants on your behalf.

3.    Work with a Professional Property Manager:

 In addition to having access to a large pool of qualified renters who will take care of your home; a professional realty management company like KRK Realty will be able to assist you in renting, up keeping your home, and if the worst occurs - evicting your tenant. Property management doesn’t have to be a mystery – the low cost of using a professional service will save you both time and money when you’re stuck dealing with difficult tenants. 

For AZ Landlords: 3 Tips to make for a Successful Move-In Day!

You found the ideal college renters who are willing to pay the rent you want to receive, the tenants are ready to pay, your rental house is ready… But before you hand over your keys to your tenants – its important make sure you’re starting out right. Even move-in-day has paperwork! Here are 3 CRUCIAL tips from a Tempe Property Management Company specializing in college rentals to make it a simple process for both you the landlord and the tenant!

1. Do not allow “Early” Move-in:

First things first: Tenants are often eager to get started on the moving process – who can blame them, it’s easier to move a few boxes at a time than everything at once. However, you must protect yourself and your investment. Be firm, confirm the utilities are in the tenants name and all rental deposit and first month rental checks are cleared before you allow the tenant to live there or even move one item into your home. Tenants may have a very good reason for wanting to move their things, however it places you in a very vulnerable position (prevent legal troubles and expenses!) which is best to be avoid.  KRK Realty & Management never allows tenants to store items on property that is not legally theirs IN ADVANCE in order to protect them, the landlord, from legal troubles down the road.  

2.  Document Everything:

When doing the move-in walk through of your home with your new tenant, it’s important that you document the way the house was when you handed the keys over. From the condition of the walls to the state of your appliances -- pictures, video and other documents are a must for a healthy tenant relationship (this is why we ALWAYS take live videos of our houses for our home investor clients). Encourage your tenant to notate items they’d like documented as well – such as a crack in the wall or a wobbly tile. And be sure to fix these things as soon as move-in is done.  This will give you an opportunity to start the rental relationship on the right track! Read up about KRK Realty’s management services to see how our professional management company handles this complicated process for clients.

3. Establish communication:

Move in day is a great time to revisit how you will communicate. Keeping in mind that phone conversations can be a confusing and also can be a legally troubling way to discuss repairs, rent and moving out. Opt for written communication through mail or email to benefit from timestamps and a history of what was said. Even using social media can be a better option than traditional cell phones. Kevin Kirkwood, of KRK Realty and Management only uses written communications for repairs, rent and other official business – this allows a record of the transactions between the landlord and tenant is partly the reason he has dealt with so few ugly situations or evictions in his almost 20 yrs of managing college housing.

These 3 tips will help you start off on the right foot to cultivate good rental relationship. And remember, using a professional property management company is a great way to protect your home investment while maximizing profits for you. Contact KRK Realty today for free Rental Analysis to see our property management services make sense for you!

Drafting the RIGHT lease… Advice from an AZ Rental Management Company

You’ve listed your home rental, set the rental price and found your hopefully QUALITY tenant! Now, are you ready to turn your largest home investment over to a bunch of strangers who you HOPE work out?   If you’re using a basic rental agreement you found online, probably not. Rental agreements or leases are the backbone of your landlord – tenant relationship, skimping on the details now could cost you. Here’s why seeking professional help from Phoenix rental management companies is a must.  

They Understand Your Legal Responsibilities
Drafting a legal document is a tricky art – a lease is no different. Simply put, a lease is a contract between the tenant and you; within that contract you can include nearly any stipulation you can imagine. Some things like who handles repairs, inspections, late fees for rent and other stipulations are important to set ground rules with tenants. However, including discriminatory or infringing items within the contract can land you in hot water and may void the entire contract. AZ based KRK Realty and Management understands that legal matters are difficult – that’s why we use a well drafted lease that has been reviewed by a lawyer to protect your investments.

They’re Up-to-Date with Current Arizona Landlord Laws
Tenants enjoy a great deal of protection from unfair housing practices. These laws can change rapidly, even overnight. Some tenants may even learn of laws and use them to exploit you, when they do it can take several months and expensive court fees to evict tenants. You don’t have time to keep up with the constantly changing Arizona real estate laws -- that’s just one of several reasons of why having a qualified and educate rental management company is an important part of becoming a landlord.

Their Leases are tailored to Local Arizona Real Estate Laws
Online databases selling rental agreements will not be in compliance with our local laws in Arizona. The only way to obtain a lease that is well suited to your exact property, needs and state laws is to speak to a property manager like  . Even a qualified lawyer’s office may not understand your property and fail to include important areas – such as care of landscaping, pools, fixtures etc.
Signing the right lease is important for you and your tenant. You don’t want to chase away great tenants because of a lease that is too strict; and you don’t want to give free reign to a tenant who fails to care for your property. Rental management companies know how to draft the perfect contract that’s fair for you and your tenants. 
If you are looking for more information about AZ rental agreements or property management advice, please contact KRK Realty & Management here.

Renting your second home got you stressed? 4 tips to be stress-free!

AZ Property Management Tips for a hassle-free Rental

Securing a hassle-free rental contract for your home means you’ll need a crash course from a Scottsdale property management company. Maintenance requests are the largest source of stress in every rental contract — they take away your from your profits, your time and can damage even the best tenant relationship. Every landlord has to deal with maintenance requests and tenant concerns, but how many you get depends on you. Here are four great management tips that will take the headache out of renting your property.

1. Get down to basics!

Features like soft water heaters, landscaping, pool pumps and appliances all require scheduled maintenance. Removing easily damaged and high maintenance items will prevent careless tenants from damaging them. However, some upgrades can’t be removed like pools, gardens and landscaping – that’s why we provide excellent landscaping and pool services for many of our KRK Realty and Management rental homes. We hire the best service providers at the lowest prices to provide monthly upkeep for our clients’ valuable homes.

1. Set boundaries!

Is the tenant responsible for light bulbs? What about replacement filters? You obviously don’t want your lease to be fifty pages long, but if ground rules about maintenance requests are not established, tenants will take it upon themselves to make them. Seek help from a professional to draft a lease that respects both the tenant and you. At KRK Realty, we use a specific move-in form and move-out process to set the right expectations with tenants so everyone is happy and satisfied.

1. Keep your receipts!

Made a recent upgrade to your house? Not only are upgrades tax-deductible, they’ll serve as evidence if disputes arise. You know you upgraded the fridge two years ago, but if your tenant damages it they may try to claim the fridge was decades old. Save yourself the hassle of small claims court and keep all your receipts with a dated picture of the upgrade. This process is streamlined at KRK Realty with our detailed, transparent accounting process for all transactions for your home.

1. Avoid Pitfalls!

First-time landlords make a lot of mistakes, but by far their biggest is thinking once the lease is signed the house is rented as-is. That’s simply not true– broken items, bad painting, cracked walls and torn carpet can turn into maintenance requests. Additionally, failing to respond to these requests means the tenant may deduct the amount of making the repairs themselves from the rent! Since managing properties is an ongoing process, many homeowners elect for the easiest method—letting a property management company do the hard work for them. Contact KRK Realty the foremost Scottsdale property managers, to discuss how convenient our services can be!

What is the Secret to finding GOOD tenants for your Rental Home?

Finding Good Tenants for Your Rental Home

Advertising in our local community has changed over the past decade. Where once newspaper advertisements, community listings and flyers were effective in drawing in potential tenants, now internet listings, social media and websites do all the heavy lifting. Changing your advertisement strategy and utilizing Arizona property management techniques is key to finding the right tenants for your second home.

1) Finding good Tenants: Get Social!

From Facebook to Twitter to Craigslist more Americans tune into social media than TV, radio and newspapers combines. Utilizing these information giants costs less than traditional media – often times being completely free. Postings to your local area social media groups should also be included with ample information, after all, you’re not paying per word.

2) Finding Good Tenants: Get Listed!

Today, tenants are guaranteed to search for their new living space through sites like Trulia, Zillow and Rent.com (plus some other special online sites KRK always uses). These websites are geared towards providing a mass listing of all available properties in their area. Listing your property on these sites is crucial. You’ll never get a second chance at your first impression so take the time to upload clear, attractive pictures of your rental and provide ample information for the prospective tenants. This will not only draw interest, but will reduce the number of phone calls and false leads you’ll receive.

3) Finding Good Tenants: Get Help!

There’s no one that knows your local market than your neighborhood property management companies. Utilizing services like what is offered by  KRK Realty & Management will allow you access to potential tenants who prefer to rent only from trusted professionals. By handling the marketing, applicant checking,leasing and management of your home a quality property manager like broker/owner, Kevin Kirkwood, can save you time and money. As experts in the Scottsdale/Tempe/Phoenix/Mesa market, hel’l understand how to market your property to the right tenants, at the right price so you MAXIMIZE your profit.

There’s no substitute for good marketing! If you’re not sure where to start or if your attempts have been fruitless it can be financially beneficial to seek the help of a professional from an Arizona property management company, KRK Realty and Management.

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!

Rental Homes in Phoenix, AZ – Five ways to draw in more Tenants, today!

The trick to finding the right tenant isn’t just having the largest selection to choose from. Building the right interest in your rental homes in Phoenix, AZ means using the right tools to market your home. Social Media, On-line services, word-of-mouth are just a few ways to bring in potential clients. Curb-appeal – No matter how far into the digital age we go, it seems a majority of tenants still find their rentals by simply driving by. Keeping your rental looking pristine is a must year-round. Quality tenants want quality rentals – invest in landscaping, attractive features and professional maintenance.

Word-of-Mouth – You already have a great tenant; so, ask them directly to assist you in finding a new tenant. They may use social media, local groups and their connections to find potential tenants to fill their vacancy. This option is easy and absolutely free.

Social Media – 80% of adults in the United States use Facebook. Search for your next client by joining groups on social media sites designed for apartment rentals or yard sales. Posting your quality rental to these sites will generate more leads than traditional newspaper listings.  We are constantly using our social media profiles on maintenance tips, new availability and fun information so in order to communicate and keep our tenants, and prospects up-to-date and informed

Online Media—In today’s on-the-go world many investors forget to list their rentals on sites like Trulia, Zillow, Rent and Craigslist.Tenants see these sites as trustworthy and will respond to listings placed with them. We also create our own email list and waitlist in order to match prospective tenants with available rentals as soon as they get on the market

Responsive & Caring Property Management — If maintaining listings through several locations, receiving dozens of phone calls a day and keeping your rental in top shape, doesn’t sound like a good time to you, contact a property manager. Using a quality property management company will allow you to market, rent and protect your home. Property Managers can also advise you on the best ways to maintain your home. Search for a property management like KRK Realty—one that understands the importance of maintain long-term tenant relationships.

The right tenant isn’t elusive, many great families are looking for quality homes in the Phoenix area. The best way to fill your rentals with quality renters is to use the right advertisement, maintain your home and use experts that are knowledgeable and respected in their field. Following these steps will allow you to soon enjoy the extra income from your rental homes in Phoenix, AZ. Contact KRK Realty & Management if you want to talk more!

Kevin Kirkwood, Designated Broker