Professional Mesa property management is something we recommend for all rental property owners and investors. It’s especially critical for out-of-state and non-local landlords. If you own a home here in the East Valley rental market but you don’t live nearby, you need a local expert to seamlessly handle the leasing, management, and maintenance of that home.
You need a reliable contact for tenants and a qualified team of professionals who stay up to date on the constantly shifting laws and requirements.
Maybe you live elsewhere but you’ve been thinking about buying property in Mesa. Now is a good time to do it. Interest rates won’t be low for long, and there are still some great deals to be found in Mesa, Phoenix, and the surrounding areas. It’s also a smart money decision. Investing in properties outside of your own market is a great way to diversify your portfolio and increase what you earn.
Out-of-state investors have a particular interest in accessing great local management. When you live hundreds or thousands of miles from your investments, you’ll want to make sure you’re working with a local property manager who can help you lease, manage, and maintain your investments.
When you’re thinking about adding a Mesa rental property to your portfolio, consider some of the unique challenges that out-of-state investors need to face. Make sure you’re prepared to find good technology, a great management partner, and a willingness to be as hands-off as possible.
Prioritize Communication With Mesa Property Managers
Long distance relationships will only work when there’s good communication that flows easily back and forth.
You can expect that you won’t have to participate in the day-to-day logistics involved in the management and maintenance of your investment property. All of that will be left to your property manager, who is local and experienced. But, you still want to be involved in some decision-making, and you always want to be informed about how your property is performing.
Communication is always a major concern for out-of-state owners and investors.
You’ll need to get in touch with your management team quickly when necessary, and they’ll have to reach you if there’s an emergency or a big decision to be made.
This is why it’s so important to work with a management company that’s experienced with owners who live out of state or even out of the country. Look for someone who places a lot of value in communication. You want responsiveness and an easy way to send and receive messages.
Photos with inspection reports, detailed notes and accounting statements, instant messages - all of these things will be important to following the progress of your investment property.
When you own Mesa investment homes from afar, you’ll need a property management company that’s invested heavily in technology so you can stay informed during the listing process, tenant placement process, and when major maintenance is needed.
You’ll want to have an online portal, where you can find maintenance invoices, inspection reports, and all your financial statements. With the right platform, you’ll be able to track rental payments and send messages. It’s a great way to stay in touch with your property without the burden of having to manage it on your own from afar.
Communication is going to be critical for non-local investors, so discuss your expectations with your property manager before you begin working together. It’s important to know how often you will hear from them, and in what capacity.
Keep your contact information updated and let them know how they should reach you.
Mesa Rental Payments and Rent Collection
How can you effectively collect rent on time when you’re not there in the same place as your tenants and your property? You rely on the rent collection policy of your property manager.
Getting paid on time is important to all rental property owners, but when you’re outside of the immediate area, it takes on a new urgency since you can’t be there to collect the payment yourself. You want to know that there’s a policy in place to ensure rent is collected on time. You want to know that tenants are being screened to ensure they have the resources and the motivation to pay on time.
Late rental payments can throw your own finances into flux. Rent that isn’t paid at all can turn into a major problem that’s hard to manage from so far away.
Talk about your property management company’s rent collection policy. Ask about the consequences of late rent and what they do to prevent eviction. Who keeps the late fee if one is charged? Are online payments encouraged? These usually lead to more consistent payments.
You can’t exactly evict a tenant when you’re managing from afar. So, you’ll need to know how your property manager handles the nonpayment of rent. Make sure you are working with a property management company that has a process in place for on-time rent collection and if necessary, eviction.
There’s rent collection and there’s also rent payment. Find out when you get paid. After the management company collects rent from your tenants, how long do you wait until those funds are deposited?
Protecting the Condition of Your Property from Afar
Out-of-state investors rely on their Mesa property managers to maintain the condition and value of their properties.
You can’t drive by your rental property to check on it. You can’t take a walk through the home during a turnover to decide which improvements and upgrades you’re ready to make.
Your investment is protected, well-maintained, and in good condition when you have a property management team that prioritizes preventative maintenance and discusses the improvements that might be necessary.
You’re also thinking about costs. It’s important to non-local investors that a good network of vendors and contractors can provide professional services that are affordable. How is your property manager keeping costs under control?
As an investor who lives outside of Mesa, you’ll want to know there are inspections happening routinely at your property. Discuss with your property manager the frequency of those inspections, and whether you’ll receive inspection reports with photos.
Even from afar, you can work together with your management team to implement a plan for preventative maintenance. When the HVAC is serviced every year and the roof is checked seasonally, you won’t have to worry as much about surprise repairs.
You need to know your property manager is available 24 hours a day for tenant emergencies. That’s something you should require as an out-of-state investor. You want to know your management partner can get there right away even when you cannot.
Vendor selection is also something you need to consider. Do you have your own list of preferred vendors in Mesa? If so, share those contacts with your management company. If you don’t live here, though, you’ll likely lean on the expertise and the relationships of your property manager. Make sure all vendors and contractors are:
You count on your property managers to put together a team of vendors who are responsive and affordable. Leverage those relationships from wherever you are.
Mesa Tenants: Reducing Vacancy and Turnover
You can’t choose your own tenants, and you probably shouldn’t. That’s why you hire an experienced management company.
Avoiding vacancy and keeping turnover to a minimum is a huge priority. Vacant properties are not only losing money, they’re also a potential target for criminals who see an unoccupied home as an opportunity. You’ve likely heard horror stories about unoccupied rental homes becoming a place where squatters take up residence or thieves make off with copper pipes and appliances.
As an out-of-state owner, you’ll need to know your rental property is maintained and protected even while it’s vacant. This might mean an additional security system, upgraded exterior lighting, and the occasional drive-by or visit from their Mesa property manager.
Avoiding vacancy needs to be a priority. Don’t hire a property manager to lease your out-of-state rental without understanding the marketing process, how properties are shown, and what the process is for moving a new tenant in.
Tenant retention and fast, effective leasing processes can also protect you from vacancy. When you cannot control the marketing, leasing, and screening process yourself, make sure you’re working with a management company with a reputation for keeping vacancy and turnover rates low.
Trust the Process and Judgment of Your Mesa Property Managers
You can trust your property manager and their network of maintenance vendors and other professionals. Don’t make the mistake of thinking you can manage from afar. You’ll need to put a friend or family member in charge of keeping an eye on your property, and that’s a lot of pressure.
Listen to the advice that your property managers offer you. You don’t need to be involved in every minor detail. It’s easy to become emotionally involved with your investment property, even when you’re hundreds or thousands of miles away. You might want to push for a higher rent even though the local market really drives the rental value of your property. A good management team will understand the demand and price your home competitively.
You pay your property management team to make good decisions that are in your best interests. Trust us to take care of your property when you’re not here to do it yourself.
When you’re working with the right Mesa property management company, there’s not too much to worry about as an out-of-state owner. We can help you feel secure with your investment property. Please contact us at TCT Property Management Services. We manage homes in the East Valley, including Mesa, Gilbert, Chandler, Scottsdale, and Phoenix.