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Are you spending more than you expected you would on your rental property?

You’re not alone. This is common, especially among investors who are not working closely with a professional property management company.

Owning a rental property can be a lucrative investment opportunity for those looking to reap financial rewards. Renting out a property or a portfolio of properties can provide an extra source of consistent and recurring income, deliver some great tax benefits, and deliver long-term financial gains as property values appreciate.

However, while owning rental property is an enticing gain for most investors, you also have to be aware of the hidden costs that come with it.

Let&rsqu...

Renewing lease agreements with existing residents is good for the consistency of your rental income and it’s important for your long term return on investment (ROI). In our current rental market throughout the East Valley and in places like Phoenix and Mesa, retention rates remain fairly high, even while rents have stabilized and stopped rising. Tenants are still likely to pay less by staying in their current home than they will if they move. Most residents understand this, and they’re willing to renew their lease agreement as long as they’re having a positive rental experience.

You cannot take a renewal for granted, however. There are still plenty of reasons that you might...

One of your earliest and most important decisions as a rental property owner will be pricing your property. You want to ensure that you set the price high enough that it’s profitable for you, but you also want to remain competitive. If you price it too high for what the market will demand, you’ll be left with no interested tenants and a vacant investment that’s losing money.

It can be challenging to get the pricing just right, and there are several factors that need to be considered when you’re setting an accurate rental price for your investment property. From evaluating the current housing market to consulting with experienced professionals, understanding where your...

Showing your vacant rental property to tenants is an important part of the rental property marketing process, and a critical component to leasing your home. Most of the tenants who schedule showings have already seen your listing, and they’ve likely seen it online. So, they understand the relative size and the number of bathrooms and bedrooms.

When they arrive for an in-person showing, they want to imagine themselves moving right in.

If you’ve been intensely focused on marketing and listing your home, it’s easy to forget about the importance of showings. You have to be responsive, available, and willing to let tenants see the property on their own time and when it’s...

Addressing tenant disputes is never easy nor is it fun. Whether it's an issue with the rent payment or other behaviors that may be causing a problem for your property or yourself, disputes between landlords and tenants can be difficult to manage. Things can escalate or words can be misunderstood, and before you know it, there’s a lot of anger and emotion and very little room to seek out solutions.

Learning how to effectively solve tenant disputes is an important part of protecting both your investment property and your relationships with tenants.

You cannot be afraid of conflict as a landlord. You will almost certainly be called upon to manage tenant disputes and complaints. Sometimes,...

If you’re a property investor looking for ways to cut costs, increase rental income and optimize your investments, there’s something you can do right now to get closer to all of those goals.

You can hire a professional property manager.

When you own a rental property in Phoenix, Scottsdale, Mesa, Chandler, or anywhere in the East Valley, working with a management company will solve a lot of problems and provide a lot of opportunities.

One of the best reasons to partner with a property manager is to save money. Not only can we manage maintenance needs and tenant relations, but we also know the market really well, which makes it easier to maximize return on investment (ROI) potentia...

Summers in the East Valley are hot and dry. Temperatures will be over 100 degrees nearly every day, and there will be either no rain or very little rain.

This will mean your rental property needs some preventative maintenance early in the season. When you own investment properties, you need to think seasonally. It’s an important part of protecting the condition of your assets. Whether you’re renting out one property or an entire portfolio, create a checklist of work you’ll want to do before we find ourselves in the middle of a very hot, very dry August.

To keep your property well-maintained, make sure you have a maintenance plan in place and a schedule for inspections and cl...

When you’re leasing, managing, and maintaining a rental home in Arizona’s East Valley, it’s easy to make a mistake every now and then. There are going to be oversights when it comes to marketing or tenant screening. You might wait too long to make a repair. Unless you have a lot of experience or the support of a property manager, it’s normal to miss some important details.

Unfortunately, these oversights can have some devastating consequences. You could lose money. You could lose tenants. You could see your property’s condition and value deteriorate.

East Valley property management can help you prevent these expensive oversights.

We’re sharing some of the ...

Every property owner faces the dilemma of whether to sell their home or rent it out. It can mainly be if they want to relocate to some other place, are stuck in a financial predicament, or have different goals for their home. During this time, they may want to sell their home, be free from responsibilities, and receive some financial returns.

Some owners may also rent their homes to tenants to secure passive income. They may entrust their property to a trusted company like TCT Property Management Services. Either way, it is essential to consider multiple factors, along with the pros and the cons, before deciding.

In this blog, you will get comprehensive insights into both sides. You can use ...