Professional Property Management Services
Main Office 480-991-1222 TOLL FREE 866-991-1222
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Professional Property Management Services Main Office 480-991-1222 TOLL FREE 866-991-1222 |
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Investing in Rental Properties
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A GOOD TENANT PAYS THEIR RENT ON TIME AND TAKES CARE OF YOUR RENTAL PROPERTY.You don't have to talk to very many landlords to hear a few horror stories about "the tenants from hell." The most basic need you have as an investment property owner is to have a good tenant. This is what McMath Realty specializes in finding. The factors involved in getting a good tenant are simple. 1. Price your rental home at a reasonable rental rate. Overpriced homes take longer to rent and have a smaller selection of people to choose from. Having a larger group of people to choose from is key to finding a good tenant. You may think that it is costing you money if you rent your home a little under market. Actually, just the opposite is true. A home priced slightly under the market will attract good tenants and tenants that will stay longer. 2. Your rental home must be in excellent condition. In this competitive market a renter has a choice between homes that have clean paint and flooring and are in good condition. Your home may be priced right but if your home is not as nice as another home in the neighborhood with nice paint, flooring, yards, cabinets etc., they are going to select the other home. 3. Do a good job of researching your prospective tenant. This is where McMath Realty shines. Each tenant must fill out an application. We then run credit, call his current and past landlord, and confirm his employment and income. We compile all this information and give you our best judgment as to the viability of the potential tenant. We prefer that our owners make the final decision, but we will make it for you if you desire. 4. Set and hold to strict guidelines for rent payment. We require that tenants pay their rent on the day due. On the 5th day following the rent due date, we will automatically notify any tenants that have not paid rent with a letter that satisfies the legal requirements for beginning eviction. Late fees will be assessed along with the rent due. Following this practice consistently trains tardy tenants to become on time. 5. Do periodic inspections of your property. Property inspections are performed on a routine basis by McMath Realty. In addition, you may request a special inspection from us if you so desire. There is a cost for inspections other than the "move-in" and "move-out" inspections. Here is how we find our tenants |