How to Select a Property Management Company

The subject of dealing with property management companies has been of great interest to many of my clients lately.

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If you’re interviewing a property management company, there are five important things that you need to remember:

1. You must understand your contract and any fees involved with it.
2. Expect great communication between you and your property manager. 
3. Any Homeowners Association (HOA) issues should be reported to both you and the tenant.
4. Expect all repairs to be disclosed to you.
5. You must have the final say in your tenant selection.

It’s also important to be wary and make sure that the property management company doesn’t surreptitiously insert a sales clause into the agreement. This clause would give them the first right of refusal to be able to sell your home, even though they’re probably not the most qualified people to do so. Make sure that you have the option of choosing the agent that you want to sell your house. 

Understand your contract and any fees involved with it.

If you have any questions or concerns, please feel free to contact myself or any member of my team by phone or email. We would be happy to help you!

Be Prepared for the Phoenix Real Estate Market Shift

If you’re involved in buying or selling property in Phoenix, you’re going to want to be prepared for the market shift ahead.

A market shift is much different than a market crash; we won’t be experiencing anything in the market like we did in Phoenix during 2005 to 2009. A market shift means that we can expect longer days on market and tougher sales for home sellers. If you’re thinking of selling your home, you’ll have to employ some new strategies for the times ahead.

If you’re thinking of buying a house, it’s important to note that we are expecting interest rates to rise in the near future. So far, it looks like the market is looking healthy, which means that the Federal Reserve will probably increase those rates soon. Higher interest rates mean higher mortgage payments, so don’t wait for those rates to rise.

If you’re really intent on buying or selling real estate, make your move now. The market tends to soften as soon as kids go back to school in the fall, and will only continue to soften into the winter months.

Don’t wait for the market to shift — make your move now!

Though buyers may have a bit more of an advantage during this time, we in Phoenix will not be hit as hard as other markets due to our healthy employment numbers and generally balanced real estate market. Sellers in certain price points, however, may find it more difficult to sell as this shift approaches.

If you’d like any more advice on preparing for the Phoenix real estate market shift, please give us a call or send us an email for a free consultation. We’d be happy to help you!