Keeping Renters Interested in Your Rental

Getting people to view your rental property is nice, but having people actually love your place enough to put in an application is what most landlords are going for. In this post I will outline some simple steps that one can take to make sure their rental stands out from all the others. Nowadays it is important that your rental have a little spice to make sure it can stand up to the competition.

Step 1: Front Yard and Curb Appeal - Just like selling a house you need to make a good first impression with renters and curb appeal is just as important when renting a house out. Most renters will look at the front yard and if they see weeds or over grown vegetation they will come to the conclusion that the home is not well cared for and that they will not be able to get things fixed when they need the landlord to come in and fix things. So make sure you are keeping the front of the house neat and tidy and remove any weeds that do show up.

Step 2: A Clean House is A Must - Renters want a home that is warm and inviting so make sure that your rental is cleaned from the last tenants, this means carpet, appliances and cupboards. Don't think that tenants arnt going to inspect every square inch of a potential rental because they do! And many are looking to make sure that the property is clean and well cared for, because they want to know they will be taken care of as the renters.

Step 3: Keep The Electricity On - As much as we hate extra bills this can be one of the most important ones.  Most people work... After all don't we all want our renters to have jobs so they can make the rent payment... and most of them work during the day so some times the only time they are available to see a house is in the evening when the sun is starting to go down and it can be pretty dark. It is important to keep the electricity on so that those who see the home as the sun is setting can get a good feel for the home.

These are just three simple steps to take when marketing and getting your rental unit ready to show.

iDeal Realty & Management

9051 W Kelton Lane, Suite 10

Peoria, Arizona 85382

(623) 201-3544

www.idealrealtyaz.com  

Are You Taking the Necessary Steps to Fully Protect Your Investment Properties

Apartment and condo community crime rates are on the rise as developments without adequate security measures are falling victim to on-property offenses. Simple safety measures can be taken to ensure that neighbors and residents are safer in their homes.

Some items to consider are: does the property have security cameras? Are the common areas of the complex well lit at night? Is the entrance to the community or complex gated? And are the gates working properly? These are some simple questions to ask your self when assessing the safety of a community or complex.

Here are some items that Property Managers should be aware of to help keep their residents safe:

• Watch out for gross inconsistencies in applications.
• Watch out for Friday afternoon applicants who say they must move in that weekend.
• Create a guest visitation policy... and enforce it.
• maintain the communities common areas.
• Know your residents
• Create community rules... and enforce them.
• Hold community meetings to keep residents informed and information flowing.

These are just a few tips that can help bring security back to your apartment complex or housing community. Although you might need to take additional measures if you have continual problems it is important to start with a good foundation of rules to keep your residents and their guests safe.

iDeal Realty & Management

9051 W Kelton Lane, Suite 10

Peoria, Arizona 85382

(623) 201-3544

www.idealrealtyaz.com  

Phoenix Area Rental Statistics for August

iDeal Realty & Management
623-201-3544 
Email Us 

Median Lease $: $1,150
Average Lease$: $1,301
Average Days on Market: 38
Number of closed rentals last month: 3,495

 The heat map below shows where the most active rentals are. Areas with red circles have a flood of active rentals available driving down rental prices, where as small yellow circles means rentals are scarce and rental prices are up in general. Market statistics can change daily and the following information is for reference only.

Why Tenant Screening is so Important!

Inexperienced investors will take just about any interested applicant for their investment property, get a lease signed and collect the first months rent and then release the keys to the new tenant. This is a bad idea! No matter how trustworthy the applicant seems to be or what they put on the application, it is imperative that the information be verified and that other steps are taken to ensure you are finding the most qualified tenant for the property.

Once you receive the rental application, the tenant screening process begins:

• Complete a Credit Check
• Complete a Criminal Background Check
• Employment Verification
• Income Verification
• Rental Verification

Now that you have gathered all the information it is important to go over it with the applicant to make sure it is accurate because some times information from other people will show up, especially if they happen to have a common name. Once the information is verified and everything is deemed to be accurate and accounted for a scoring system should be used to determine if the applicant is approved, approved with higher deposit or denied.

If you need any assistance with the tenant screening process, have any questions about the process or require the services of iDeal Realty & Management, feel free to contact us.

Top 5 Ways to Stay Cool In Pheonix!

Today's post is dedicated to staying cool in the blisteringly hot Phoenix Sun. This last week in Phoenix we had excessive heat warnings in effect and even set a few records, so it is important to keep cool. Below are two top 5 list of ways to stay cool in the Desert heat.

Top 5 Ways to Keep Kids Cool

1. Arizona Science Center - Whats better than keeping your kids cool? Keeping them cool and let them learn something at the same time. The Arizona Science Center makes learning both fun and interesting. Arizona Science Center has exhibits that allow guests to touch, feel and even taste Science. 


2. Mini Golf Paradise - While it might be too hot out side to go golfing in the summer at Paradise Golf that's not the case. Amateurs and pros alike will love this indoor mini golf park. Paradise features 18-holes that range from easy to advance and provides a more sophisticated version of putt-putt perfect for the whole family.


3. Jump Street - If you trying to keep the kiddos from bouncing off the walls in this heat then Jump Street is the perfect place to take them. Jump Street is and indoor trampoline park that features wall-to-wall trampoline where everyone can indulge in  a little fun and exercise


4. Wet n Wild - Looking for a great water park? Then look no further, claimed as the largest water park in Phoenix wet n wild offers something for everything. They just opened their Wet N Wild jr. water park which scaled down some of the bigger slides for the little ones. Even tho kids are staying cool in the water it is important to remember to put on the sun screen and keep them hydrated as it is still possible to over heat while swimming. 


5. Children's Museum - Much like the Arizona Science Center the Children's Museum offers kids a plays to lean and play in the comforts of air conditioning. At the Children's Museum there is a large number of interactive exhibits where children can get a hands on education.

Top 5 Ways to Keep Cool

1.  Shopping - Although it might not be the best economic climate it doesn't mean you can't at least window shop. The temperature out side may be a blistering 110+ degrees inside the area malls it is a cool 75 degrees.


2. Catch a Show - The Arizona Broadway Theater offers dinner and a show opportunities every month. Currently you can catch The Will Rodger Follies and next month the Odd Couple comes to the stage. With something for everyone you will not be disappointed. 


3. The Musical instrument Museum - The Musical Instrument Museum offers a shared experience of the history of musical instruments throughout the world. The space is bright and open, providing guests with a warm and comfortable environment. They offer guided tours and audio displays for an interactive learning experience. Whats better then being cultured and staying cool at the same time?


4. Catch a Movie - Summer blockbuster season is still hot and right now might be the best time to cool off with a good flick.  Hollywood has released some of the best action movies in the past couple of weeks including a revamp of the classic Total Recall. 


5. Take a Trip - It may be hot in the valley of the sun, but not all of Arizona is an oven in the summer time. Take a day trip up to Flagstaff, Show Low, or even the Grand Canyon.  It may not be as cool as you would like, but these locations can be as much as 30 degrees cooler than in the valley so if you need an escape from the heat and have nothing to do for the day why not get out of town and explore this great state?

iDeal Realty & Management

9051 W Kelton Lane, Suite 10

Peoria, Arizona 85382

(623) 201-3544

www.idealrealtyaz.com  

Housing Market Slowly Climbing Up

According to real-estate website Trulia, recent numbers from their monthly report show that the housing market is 32% of the way back to normal. “Normal” refers to “the rough estimate of the long-term pre-bubble average,” said Jed Kolko, chief economist and head of analytics at Trulia. Construction starts, delinquency and foreclosure rates, and existing-home sales all factor into his calculation.

June construction starts rose 7% compared to the month before, and rose 24%  compared to the year before. Overall, Kolko calculates that construction starts are 28% on the way back to being normal.  In addition, Zillow earlier this week announced that that home prices have found their bottom, and predicts prices to rise in the upcoming year.

The Advanteges of Accepting Section 8

I make it a point to ask every home owner for whom we manage properties whether or not they want to accept section 8 or not. Just about every time I ask this question I get one of two responses; Absolutely not or What is that. Often times section 8 gets a bad rap because it is a looked at as a government program... and we all know how easy the government is to deal with right! Well I don't think Section 8 should get such a negative connotation so I am going to highlight some of the advantages to accepting section 8 vouchers.

Reasons to accept section 8 housing

  
Check's in the Mail:
The best part of accepting a section 8 tenant, hands down has to be the fact that the section 8 portions of the rent come in like clockwork, and you never need to worry about tracking them down.

Additional Sources for tenants:
Section 8 has their own website where only section 8 housing can be advertised and all of the local offices have bulletin boards that can be used to advertise available section 8 housing. The benefits of advertising at the local office is that you ad will be in front of everyone that is applying for new section 8 vouchers.

 You can ask for the same amount of security deposit:
One of the nice things about section 8 housing is the fact that you can ask for as much in security deposit as is allowable by law. In the state of Arizona the amount that is allowable by law is 1 and 1/2 times the monthly rent amount so if you home is renting for $1000 per month you could ask for a security deposit of up to $1500.

You can still screen and choose the tenant:
One misconception about section 8 housing is the though that section 8 tenants are horrible. Although this may be the case for some, it should not be a major factor because you are still able to screen applicants and reject those who do not qualify as long as it is in accordance with Fair Housing Laws. This means that you should be able to find out who the "bad apple" tenants are and toss them aside.

Housing Counselors May Get Involved:
It truly isn't in the tenants best interest to destroy a house while on section 8 many of them rely on the money the voucher saves them to be able to live a "normal life" and many are not willing to throw that away. However if you do have a problem with a tenant it is possible to talk to their Section 8 Representative and get the issue worked out. Most tenants know they could be kicked off the program if they do not take care of the properties so they are some times better tenants than non section 8 tenants.

Phoenix Area Rental Statistics for July

iDeal Realty & Management
623-201-3544 
Email Us 

Median Lease $: $1,150
Average Lease$: $1,299
Average Days on Market: 40
Number of closed rentals last month: 3,592

 The heat map below shows where the most active rentals are. Areas with red circles have a flood of active rentals available driving down rental prices, where as small yellow circles means rentals are scarce and rental prices are up in general. Market statistics can change daily and the following information is for reference only.

Rental Scam Alert- "Red Flags" that indicate a listing might be a fraud

Rental scams are on the rise recently and websites like craigslist are the prime targets for these scams. There are a number of things to watch out for that might indicate that a listing is not real. Lets take a quick look at a few of those "Red Flags" right now.

Can't personally talk to a property manager or landlord

• One thing with many of these rental scams is the fact that you will not be able to talk to some one personally. If a listing dose not have a phone number and all of the communication takes place through email then it is a good idea to proceed with caution. Also if a phone number is provided but it keeps going to an answering machine and you do not get anyone calling you back this can also be a sign that a listing is a part of a scam... or the landlord/property manager is just plain terrible at their job and most likely not a rental that you want.

 Unable to see the property in person because landlord or property manager is out of state or country

• Scammers never seem to be able to meet at a property and show it. Often times they will give excuses that they are out of town, or "in the military" and out of the country on deployment. Also they will want to conduct all business over the internet rather than in person. It is not uncommon for legitimate landlords or property management companies to have you drive by the property to see if you would be interested in the area before scheduling a showing, but if any of them require any sort of fee before you get to see the inside of the property you should try a different place.

Poor grammar,  poor punctuation, and wording that just doesn't make sense or sounds odd

• Often times these scams originate out of the country. Although everyone goofs every once in a while, in many of these scams the person writing clearly doesn't have a grasp of the English language. Any email that is written by some one that doesn't appear to be a native English speaker should send up red flags. Here is an example of text for a scam email that I received recently, the English was so bad that I had no idea what they were trying to communicate.
• After receiving the keys and you are not okay with the house, your money is refundable, and our keys should not spent upto 5days with you, before posting it back to us, otherwise, we will agree that you are okay with the house.   

Communication comes from multiple people

• Although it is some times common when you are dealing with a property management company to talk to or be handed off to another person you generally wont be contacted by the other person without being informed of who you should be contacted by. If you start talking to some one named Jim Hanson and then all of a sudden you start getting emails from a Sarah Desmond and you have no idea who Sarah is then this should set off some red flags and you should proceed with caution

 The rental price is too good to be true

• In an effort to generate a large amount of interest and to maximize the number of potential victims scammers will list a property way under fair market value, often time rent amounts will be half that of similar properties in the area.  If you happen to see a "too good to be true" rent amount then often times it is, this is not to say that a legitimate rental can't be priced low it just means you need to be extra cautious when looking at lower than average rental amounts.

 Being asked to send money overseas

• This should be the biggest red flag of them all. If at any time you are asked to send money over seas especially be very, very wary. Often time the scamsters will ask you to wire money to an overseas bank account in order to get the keys to the property. Often time they say they need the money for a security deposit before they can release the keys to a property and often times this scammer will tell you that you can send the keys back if you don't like the property and they will return your security deposit to you.  DO NOT buy that line for a minute, once the money leaves this country it is GONE.

 These are just a few of the main Red Flags that should tip you off to the fact that someone is up to no good. If you are looking for a rental it is a good idea to work with a property management company that specializes in finding tenants rentals, many property management companies can help you find a rental even if it is not one of their companies listings and even better yet this service doesn't cost you anything extra. Also don't be afraid to call a potential scamster out by asking them to meet you at the property for a showing. Remember when it's too good to be true often times it is.

iDeal Realty & Management

9051 W Kelton Lane, Suite 10

Peoria, Arizona 85382

(623) 201-3544

www.idealrealtyaz.com  

Number of Home Renters Continue to Increase

The rental sector continues to lead the post-recession housing industry as more than a million households swelled the demand for rentals in the year ending March 2012. Renter-occupied dwellings increased by about 4 percent during the year and industry stakeholders are reacting to demand by raising rents and building or converting properties, according to the Freddie Mac Economic and Housing Outlook report for June 2012.

Single-family rentals are accounting for a larger percentage of the market than they have in the past, as investors seize the opportunity presented by the unique condition of the housing market. This, in turn, is expected to help meet the housing needs of many, including some former homeowners.

Analysts, rental owners and property management companies anticipate a surge of demand in the future, partly from young adults who have postponed household formation during and after the recession. While the pace of new construction has been limited due to financing challenges, that issue is being resolved, at least partially. At the same time, those limitations have likely made single-family rentals more competitive just as the number of homes for sale spiked. That number is now falling, and the report indicates that markets may continue to tighten, yielding further rent growth in at least some areas. Among rentals, top-tier properties have been particularly sought-after as those who lost their homes to foreclosure seek to find equally nice rentals, until they can buy again.

The market conditions are still making this one of the best markets for investors especially here in the Phoenix Metro Area where rentals continue to see a rise in popularity in part due to the dwindling number of home sales available. However this is the start of the Real Estate recovery as the number of available homes have gone down to record low numbers prices have started to rise quickly as people fight for the few homes available on the sales market.

iDeal Realty & Management

9051 W Kelton Lane, Suite 10

Peoria, Arizona 85382 

(623) 201-3544

www.idealrealtyaz.com

Getting Repairs Done to the Home You're Renting

Trying to get repairs done to a rental home is probably one of the most frustrating issue tenants have to experience when renting.

You complain to the landlord or property management company and they assure you that it will be fixed in no time, however no one shows up so you complain again, and they show up but don't fix the problem and this cat and mouse games goes on and on.

As property managers we try to address repair issues within a reasonable amount of time. However there are still situations where we get blind-sided with irate tenants who have issues we have never heard of before. These tenants claim that they have told on of our staff members about the problem "weeks ago" and want to know why we haven't done anything to correct the problem. Or we get a call from a tenant that wants or even expects us to drive right over and fix their problem within a couple of hours.

So whats the best way for a tenant to make sure repair items get taken care of in a timely fashion? Lets discuss the steps to make sure your repair request goes as quickly and as smoothly as possible.

• Communication - This is the key to getting everything started off right, if we don't know about an issue we cannot do anything to correct it. What we recommend is that all repair requests be made in writing, we have even made it simple for the tenant, They can go onto our website and fill out a repair request under the tenant section of our website. Calling us is fine, however make sure that you are calling the main office number and not an agents cell phone number, and always make sure to follow up the phone call with an email. One of the worst things you could do is tell one of our contractors about any problems you might be having, these people are subcontracted by us and odds are if the repair you need is not what they do they don't care because they won't be making any money on it. Communication is the first step to a smooth and successful repair request.

• Promptness - Don't put off alerting us about a repair and then expect us to drop everything and come running over to fix it immediately. Water leaks can cause a lot more damage if they’re not addressed quickly, and you could be billed for the extra costs if it is determined that the condition has existed for weeks or more.  

• Share Details - One of the most frustrating things we experience as a management company is vague descriptions of the problem . This generally leads to longer repair times because we have to all and wait for a response about the problem. One example if you are calling about an appliance not working please give us the brand of the appliance at a minimum but also try and find the model number so that we can pass that information on to the repair person.

• Be Responsible - Just because you're renting a property, doesn't mean your staying at a hotel with you own private concierge service.  Just like leasing a car you are still responsible for basic maintenance such as lights that burn out, batteries for smoke alarms, and filters for the air return. If you send repair requests for these items you will generally get a nice email or phone call from one of our property managers asking you to read what your required preventive maintenance items are including the items I listed above. Also we do not cover items that need repair due to abuse so if you have a broken screen door because your dog or cat clawed it up one afternoon, you will be charged for it, so although it is a home you are renting treat it as though it was a home your rented.  

So, what happens if you do all of the above and a repair still isn’t getting done?  The first inclination of many tenants is to threaten or actually withhold rent. Legally, there are certain steps you must take before you can be justified in withholding rent.  Let’s look at them:

1. The repair must be something that affects your ability to make use of the property as intended and is under the landlord’s control. A burnt out light bulb wouldn’t qualify, neither would a utility outage that was the responsibility of the utility company.
2. You must be able to prove you informed the landlord about the repair issue. This is where getting used to putting things in writing pays off. If you communicate via email, save the emails you exchange with the landlord. If you don’t have email, send a registered letter via U.S. Mail and save the receipt.
3. You must give your landlord an appropriate amount of time to address the repair.  How much time is this?  It really depends on the type of repair and sometimes the weather, season or time of year.  For a non-emergency repair, you probably should wait at least 30 days.
4. You must prove your ability to pay the rent when you withhold it.  Because too many tenants have tried to “play” the system and use a repair as a reason not to pay rent they didn’t have to begin with, most courts/judges will require you to prove you had the money to pay your rent when it was due.  There are really only two ways to do this: 1) have enough money continuously in your bank account to cover all rents you withhold, 2) escrow the rent money with an attorney or other licensed professional.  If you don’t do this you risk having a judge dismissing your case and/or giving your landlord a money judgment against you.

Overall, if you communicate with your landlord, follow up with their office and act civilly, you’ll find most repairs are taken care of to your satisfaction.  Even more get taken care of if you escalate your communications.  Very few repair issues get to the point where you’d have to withhold rent, and often time at that point it is more effective to file a complaint with the Real Estate board or commission, especially if being licensed is a requirement in your state.

Figuring Out What Your Home Will Rent For

Do you want to rent your home out, but not sure how much it will rent for? Determining the amount of rent you can get for your home is often the first step when deciding whether or not renting it out is a viable option, but determining a rental amount is hard to do without access to the Multiple Listing Service (MLS). Since you typically need to be a licensed Realtor to have access to the MLS, this now becomes troublesome for many home owners. Sure you could go onto realtor.com or other websites and see what rents are going for in your neighborhood but to get an apples to apples comparison it is imperative your seek the help of a qualified property management company.  Not only does the property management company have access to the MLS system they spend all their time dealing with rentals so odds are many of them have leased the exact same floor plan as yours. Most reputable property management companies will offer a free rental analysis which should consist of comparable properties that are both active and recently closed from the MLS system as well as other sites used in the Real Estate Industry. Say for example you had a property in Surprise, Arizona which is just one of the markets that I have spent a lot of time renting homes in, I could have to you a rough Rental Analysis in about 15-30 minutes and after viewing the property in person I can generally zero in on the best price for the amenities and demand of the home.

This is only one of the reasons it is important to consider hiring a property management company when you are thinking about renting out your home. In the long run property management companies save you lots of time and money for more examples of why you want to higher a property management read my other blog post "Why hiring a property management company pays for its self".

iDeal Realty & Management

9051 W Kelton Lane, Suite 10

Peoria, Arizona 85382

623-201-3544

www.idealrealtyaz.com

Phoenix Median Sale Price | Year To Year Increase

Good News for Phoenix area home owners, according to the Arizona Regional Multiple Listing Service (ARMLS) Phoenix median housing prices have been on a steady increase since this time last year. See the photo below taken from ARMLS website
Median Sale Price | Arizona Regional Multiple Listing Service (ARMLS)
 

Getting Rid of the Home Phone

In light of the current economic conditions many people around the country are looking for ways to cut back on their spending. One often overlooked item that most people are still shelling out big bucks for is the land line phone. Many people contemplate loosing the land line phone company and going all cellular but many are afraid to take the plunge, well I have some tips and advice for making the jump to cellular. I have not had a cell phone in my house for the last 6 years and could not be happier with the results. The first few months take a bit of adjusting but soon I forgot what a home phone looked like and felt like.

Saving big with cellular:
 Most people have a cellphone that they use when they are out of the house and many cell phone companies offer unlimited plans which most people have, or could have for just a few bucks more per month. If you happen to be paying for unlimited minutes on your cell phone already why would you want to keep paying $30-$40 per month to keep your home phone around especially if you are only using a few times per week.

Missing all those Telemarketing Calls:
One of the hardest adjustments to make when switching to a 100% cell phone life is missing out on the chance to yell at telemarketers that call you at all hours. Although you will not be free from all telemarketing calls on a cell phone I find that I might get 1-2 calling me per month as opposed to the 2-3 per day on my old land line. 

The 411 on 911:
Some of you might be concerned with your safety when it comes to using a cell phone. But like a home phone a cell phone will connect you with a 911 dispatcher, however unlike a home phone your location will not be immediately available to them so you will have to be able to give them your address. This could be a problem if you find your self incapacitated, however many 911 centers are  being updated with new technology to retrieve your location via a cell phone however there is no requirement for the adoption at this time and is voluntary.

Dropping The Call:
One of the biggest problems in some areas is the dreaded dropped call. If you already have a cell phone you should know what kind of reception that you get in your home, but there is a chance that you will not have coverage in every room... or possible at all if you live in a large apartment complex. Although I know of no solutions if this is a problem that you face, I can say however that as technology gets better so does coverage so hopefully soon dropped calls will be an issue of the past.


Digital Devices:
One last thing to be aware of is if any products in your home require a land line phone connections. This usually is only required by DVR's such as TiVo or older home security systems, however many new devices will use high speed internet vs the phone line to communicate with the outside world.

If you have been putting off firing the land line phone company, I hope that I have given you some food for though about cutting the cord. Although its a bit of an adjustment period going 100% cellular is one of the best things I have ever done and haven't looked back one in the last 6 years.

iDeal Realty & Management

9051 W Kelotn Lane, Suite 10

Peoria, Arizona 85382

623-201-3544

www.idealrealtyaz.com

New Chicago Cub's Spring Training Faciltiy Being Built

July 11th 2012 was the official ground-breaking ceremony on the Chicago Cubs’ new Spring Training facility in Mesa, Arizona, touted as Wrigleyville West. Crammed inside a tent under a pale blue sky and unusually humid conditions, many of those officials connected to the culmination of the $99 million facility were at Mesa’s Riverview Park for the groundbreaking on Wednesday. The city said the ballpark is estimated to cost $84 million and $14 million for infrastructure and currently is $1 million under budget. Any costs over the $99 million, the Cubs have agreed to pay.

It’s pretty exciting, the team’s forthcoming 125-acre facility that will seat 15,000 and resemble Wrigley Field, the Cubs’ iconic ballpark in Chicago. The complex will provide 70 percent of its seating in the shade, a large concourse featuring a party deck in left field, state-of-art weight and training rooms as well as the potential for private commercial development. The Spring Training facilities are expected to be completed late next year, and be ready to go for Spring Training in 2014. The ancillary stuff - The "Wrigleyville West piece" with dining, shopping, etc.  might not be completed until some time thereafter.

Nearly two years ago the Cub's almost uprooted the team and moved them to Naples, Fla to play in the Grapefruit League. While it’s easy to forget, given the current Wrigley renovation impasse/hubbub, getting these new Spring facilities was and is a huge deal for the Cubs. Not only will it help them generate more revenue during Spring Training, and not only will it help optimally prepare players for the season, but it will also be a world class training facility year-round for Cubs minor leaguers and rehabbing vets. It should also be a fun place to see some Spring baseball.

iDeal Realty & Management

9051 W Kelton Lane, Suite 10

Peoria, Arizona 85382

(623) 201-3544

www.idealrealtyaz.com

Is Your Real Estate Agent Doing The Best Job Possible?

As a Realtor I spend a lot of time on the MLS (Multiple Listing Service) system looking for homes, rentals and commercial buildings for my clients. One of the things that always bugs me when I am looking at properties is the lack of effort some agents put into their listings. If you have a home, rental or other item marketed through an agent and you keep asking your self I wonder why I haven't gotten an offer yet, make sure you ask for a copy of your MLS listing once it is created because some agents nowadays are getting lazy when marketing your home.

Here is my top 5 list of MLS no no's!

1. No Picture of the House - This is a huge turn off for most Agents as well as perspective buyer it either means the house is terrible or I don't really want to sell

2. Listing with only 1 photo - Now I understand that from time to time there is a reason for having only one photo in MLS however it seems that there are a lot of listings have only one photo, the purpose of putting up photos is to give other agents and buyers and ideal of the condition of the house.

3. Lots of photos but of poor quality - Some agents do a good job of uploading lots of photos, but don't take the time to review what they have taken and end up uploading pictures that are too dark to see anything, or blurry. This is just as bad a not taking any photos since you still don't get a sense of the property.

4. No Description - This is another huge turn off for buyers and it takes only a few minutes for a good agent to write a description of the property.

5. Contradicting information - Some agents will put in contradicting information, for example saying there is a Realtor lockbox when there is actually a mechanical lockbox or saying the house is vacant when in fact there are people living in it. This frustrates agents more than home buyers but since those looking need an agent you don't want to make the agent mad.


If you  take one thing away from this post it is this... Pictures Sell Properties. Making sure your agent takes good pictures and puts as much information as possible into MLS. Ask your agent to show you the MLS listing or even better yet ask your agent to print your MLS listing and 2 comparable properties MLS listings and read them and compare them as if you were going to decide which of the three you would want to go see first as a buyer. If an agent is not willing to do this then I suggest you find another Agent as this is a very basic request to make.

iDeal Realty & Management

9051 W Kelton Lane, Suite 10

Peoria, Arizona, 85382

623-201-3544

www.idealrealtyaz.com

Living In A Lot Less Space Could You Do It?

On Monday New York City Mayor, Michael Bloomberg, announced a competition for architects to submit designs for apartments measuring just 275 to 300 square feet (25.5 to 28 square meters) to address the shortage of homes suitable and affordable for the city's growing population of one- and two-person households. "People from all over the world want to live in New York City, and we must develop a new, scalable housing model that is safe, affordable and innovative to meet their needs," the mayor said in a statement announcing the competition.

Bloomberg said the city plans to waive zoning requirements at a city-owned lot in the Kips Bay neighborhood of Manhattan to allow the construction of a building filled with the "micro-units." They will be about four times the size of a typical prison cell and about one-fortieth the size of the mayor's Upper East Side townhouse.

Officials say there are about 1.8 million one- and two-person households in New York City, but only about a million studio and one-bedroom apartments -- a sign, they say, that the city's housing stock has not kept up with its changing demographics. Young, single New Yorkers in particular can find it hard to find an affordable apartment as demand outstrips supply.

The mayor is calling for proposals over the next two months for a building containing about 80 micro-units, all of which must have kitchens and bathrooms. Ideally, they should also have "substantial access to light and air to create a sense of openness," according to the competition announcement.

The apartments, once built, will be sold or rented on the open market. The city will not be subsidizing the project. If successful, the pilot project could help usher in a loosening of the city's zoning laws regarding minimum housing size.Under New York City's zoning regulations, the average apartment size in a new building must be at least 400 square feet (37 square meters), although there are exceptions to the rule.

Although the new apartments will be cozy in realtor-speak, they are unlikely to break any size records. One couple paid $150,000 for a 175-square-foot (16-square-meter) studio in Manhattan in 2009, according to the New York Post.

iDeal Realty & Management

9051 W. Kelton Lane, Suite 10

Peoria, Arizona, 85382  

623-201-3544

www.idealrealtyaz.com

How Much Rent Can You Afford?

The most important thing to consider when looking for a rental is whether you can AFFORD to live there! No matter how great an apartment or rental home is, if the monthly rent and utility costs are more than you can pay, you cannot live there. But, how much is too much?

Generally, the maximum amount of rent you can afford is deduced from your yearly income. The rule of thumb is usually that you should pay no more than 25-30% of your before-tax income. However, that number can change based on various factors and expenses that you must consider for yourself.

Take a look at this chart from the Census Bureau that demonstrates the how the gross rent as the percentage of income has grown between 1950 and 2000:

Note: Income of Families and Primary Individuals for 1950-1970; household income for 1980-2000
Source: U.S. Census Bureau, Census of Population and Housing, decennial volumes.


There are some very important things to consider when you are figuring out how much rent you can afford. For instance:

CAR PAYMENTS/TRAVELING COSTS

Do you own a car or rely on public transportation? Either way, there are important things to take into account derived by your preferred mode of transportation.

If you own a car there are often car payments to consider. How much a month must be allocated towards making these payments?

Furthermore, if you commute to work or drive frequently, you must also remember to include your gas bills. With the price of gasoline approaching $3.50 these days, gas costs can put a huge dent in your wallet.

Even if you don't have a car, many people must rely on alternate modes of transportation like the bus, subway system, or taxicabs. Unfortunately, all of these things cost money, so it is important to take into account the average amount of money you spend on getting around. Also if public transportation is you main mode of moving about a city you want to be sure that you rent a home that is located close enough to a bus stop.

FOOD

Everyone must eat, but how each person eats can make a huge difference. How frequently you eat out versus preparing your own food really affects how much money you will be able to put towards rent each month. If you are prone to feasting out 7 days a week, make sure you note your additional costs!

ENTERTAINMENT/ SOCIAL CATEGORIES

It's easy to forget to take into consideration how much you spend on entertainment costs and social events each month. Unfortunately, for many people, this is where a great deal of their income is spent.

Do you enjoy going to the movie theaters or renting movies?
How often do you go to bars and nightclubs? Do you order the $3 beers or the $10 Manhattans?

MISCELLANEOUS

Oh how easy it is to forgot to take into account your "other" costs. If you are in the habit of spending $1000 a month on your wardrobe, you obviously will not have that money available to put toward ensuring that the roof over your head remains over your head.

Now, I focused on possible costs that you may have each month to show that you must take more than simply a static percentage of your income into account. But, obviously, if YOU have a very low cost of living and do not spend that much, you have more money to pay rent with.

When deciding how much rent you can afford each month, you simply must take into account all of your other expenses. Furthermore, it matters greatly whether you are trying to save money or are content to living "pay check to pay check."

iDeal Realty & Management

9051 W Kelton Lane, Suite 10

Peoria, Arizona, 85382 

623-201-3544

www.idealrealtyaz.com 

Top 10 Things to do in the Greater Phoenix Area This 4th of July

Southwest Ambulance Arizona Celebration of Freedom
Mesa gets the party started early the Friday and Saturday before Independence Day. This festival features a family fun zone, wet zones, beer gardens, food booths and music on a variety of stages. The High Octane Car Show will feature classic, custom, hot-rod and lowrider cars, while the Cox Freedom Plaza will have the Fallen Heroes Memorial, the world's largest Lego American flag and Childsplay's "Rock the Presidents." Actor-singer-producer John Schneider will perform and emcee various events, and the whole thing will wrap up with a fireworks show. Special room rates are offered at Marriott Phoenix Mesa.
When: 6-10 p.m. Friday and Saturday, June 29-30.
Where: Main Street between Morris and Centennial Way, downtown Mesa.
Admission: Free.
Details: 480-644-4600, azcelebrationoffreedom.org

Harold's Corral Third of July Fireworks
You might want to mosey on up to Cave Creek for Harold's annual free fireworks show Tuesday, July 3. You can enjoy an outdoor barbecue with live music inside and out, and face painting, shaved ice and a mobile game truck for the kids. Book a room at the Tumbleweed Hotel, and you'll get a free shuttle to and from Harold's as well as a fireworks table reservation.
When: 5:30 p.m., with fireworks at sunset July 3.
Where: 6895 E. Cave Creek Road.
Admission: Open seating is free, reserved seating $5-$20.
Details: 480-488-1906, haroldscorral.com.

Surprise 30th Annual 4th of July Celebration
Surprise will celebrate the Fourth with a minor league game between the Texas Rangers and the Los Angeles Angels. Bargain hunters can find $1 peanuts and popcorn and $2 hot dogs and soda. A fireworks show set to patriotic music is 8:30 p.m. This is a ticketed event, limited to the first 10,000 fans, with a maximum of six tickets per family. Admission is free with a canned-food donation to benefit local food banks. Surprise residents can guarantee seats by picking up tickets early at the Community & Recreation Services Office, 15960 N. Bullard Ave.
When: Gates open at 4:30 p.m., 5:30 game and 8:30 fireworks Wednesday, July 4.
Where: Surprise Recreation Campus, 15850 N. Bullard Ave.
Admission: Free tickets to the first 10,000 fans with a canned food donation. Tickets required.
Details: 623-222-2000, surpriseaz.gov

Independence Day Music Festival
Country music superstars Miranda Lambert and Darius Rucker co-headline the annual festival, which will also feature Edens Edge. Lambert took home female vocalist of the year awards from both the Country Music Association and the Academy of Country Music, and Rucker sang for Hootie & the Blowfish before reinventing himself as a country star in 2008. This festival includes a pre- and post-party with food, beverages and music along with a fireworks display on the Colorado Rockies practice fields after the concert.
When: 3 p.m. free pre-party, 5:30 concert and 10:30 fireworks Tuesday, July 3.
When: Salt River Fields at Talking Stick, 7555 N. Pima Road, Salt River Reservation.
Admission: $22-$89, free admission for children who sit on laps. Fireworks viewing is free with $10 parking.
Details: 480-270-5000, saltriverfields.com

After Dark in the Park
Celebrate a little early at this free event featuring food vendors, live music and bounce houses for kids. Bring your blanket and a picnic basket to enjoy during the fireworks or sample cuisine from local food vendors.
When: 7-9 p.m., with 8:45 fireworks, Saturday, June 30.
Where: Deer Valley Park, 19602 N. 19th Ave., Phoenix.
Admission: Free.
Details: 602-495-3735, phoenix.gov/parks/fabphx4.html.

July 4th Tempe Town Lake Festival
Grab your blanket and head to Tempe Beach Park for live entertainment, including rock, pop and reggae. After working up a sweat in the inflatable village and rock wall at the Family Fun Fest, get a cool-down at the Azcentral.com splash playground. The food court will featureJuly 4 fare, while those 21 and older can enjoy the Budweiser Beer Gardens. The main attraction is a fireworks show from the Mill Avenue Bridge, choreographed to patriotic and classical music. Arrive early for a good spot on the lawn.
When: Gates open at 5 p.m., with 9:20 fireworks, Wednesday, July 4.
Where: 80 W Rio Salado Parkway.
Admission: In advance: $5 at select Tempe outlets; $6 Valley-wide at Fry's. Day of event: $8 or two for $15. Children younger than 12 admitted free. VIP Garden tickets: $60 for adults, $30 for children 5-12.
Details: 480-350-5189, tempe4th.com

Wet n' Wild 4th of July and BBQ 
Visit wet n wild on the 4th of July for family fun all day and all night long. In addition to their slides and attractions the Park will display fireworks and host an all-you-can-eat BBQ. The BBQ is served from 7:00pm to 8:30pm in the Red Rock Ravine picnic area and will include grilled BBQ chicken & hot dogs, green salad, western style beans, corn-on-the-cob, sliced seasonal fruit and Coca-Cola beverages.
When: Park opens at 10:00 am
Where:4243 W. Pinnacle Peak Road,  Glendale, Arizona 85310
Admission:The firework shows is free with park admission and begins at 9:30p.m. BBQ meal tickets are just $9.99 plus tax for all Gold Season Pass and Season Pass holders; $9.99 plus tax for ages 3-11; and $11.99 ages 12+.  Get your meal tickets today!


4th of Zoo-Ly at the Phoenix Zoo
Ever wonder what all the animals are up to after dark? Come and find out when you celebrate the Fourth with the zoo. This family-friendly event includes a catered barbecue dinner from 7 to 8:30 at the Lakeside Lawn, face painting, bounce houses, animal discoveries, carousel rides and evening access to Stingray Bay. Get a VIP view of Tempe's fireworks show. Seating is available, so you don't need to bring your own chairs. Beer and wine may be purchased at the dinner and fireworks show, and there will be cool treats for everyone during fireworks.
When: 7-10 p.m., with 9 p.m. fireworks, Wednesday, July 4.
Where: 455 N. Galvin Parkway.
Admission: $40 for age 13 and older, $35 for children 3-12, age 2 and younger admitted free (but still require reservation).
Details: 602-914-4333, phoenixzoo.org

All American Festival
This festival will feature separate stages for country music, rock and roll, and kids' music at the Peoria Sports Complex. There will be plenty of activities to keep the kids busy, including inflatables, face painting and a rock wall. If you're feeling brave (and hungry) you might consider signing up for the Sonic Footlong hot-dog-eating contest. There will be an F-16 flyover at 7 p.m. Concessions and beer will be for sale.
When: 5-10 p.m., with 9:15 fireworks, Wednesday, July 4.
Where: 16101 N. 83rd Ave.
Admission: $5 adults 13 and older, kids 12 and younger free. Parking is free.
Details: 623-773-8700, peoriasportscomplex.com

Hollywood & Wine featuring Clint Black
Grammy Award-winning country music legend Clint Black will perform an intimate July 4 show in the Arizona Biltmore's Frank Lloyd Wright Ballroom as part of its 2012 Hollywood & Wine, a three-month festival of food, film and fun. This all-ages show features concessions and a cash bar. For a premium, front-table ticket holders attend a meet-and-greet with Black. Check with the Biltmore on special room rates.
When: Doors open at 7 p.m., concert at 8 p.m. Wednesday, July 4.
Where: 2400 E. Missouri Ave., Phoenix
Admission: $30-$40 for general admission, $75-$125 for tableside seating, $195 for front-row tableside seating with a Clint Black meet-and-greet.
Details: 602-955-6600, arizonabiltmorehollywoodandwine.com

Watch Your Kids Around Water!

Summer is officially here and as temperatures begin to climb in to the into the 100's in the Valley of the Sun families will be gathering around the pool area. If your home has a pool don't forget to practice good pool safety. So far this year we has heard of too many drowning deaths or near drownings, and despite constant education we still see a rise in drowning deaths. There are a few things you can do as a resident with a pool to help keep you and your family safe this summer.
Small children who can’t swim obviously should not be have free access to a swimming pool, and even older children who know how to swim should use a pool only under adult supervision. In fact, adult awareness and supervision should be considered the first line of defense against pool accidents. No safety equipment can completely take the place of a responsible person keeping tabs on children’s whereabouts. That said, safety features are still important, and many are required by law.

For almost 20 years, Arizona statutes have required newly constructed pools at private residences with children under 6 years old to be surrounded by a fence at least 5 feet high. The state law does not apply retroactively to pools constructed prior to June 1990, but local governments are free to pass more stringent requirements, and many have. A Scottsdale or Mesa swimming pool, for instance, must be surrounded by a 5-foot (or higher) fence regardless of whether children live in the home. In Peoria, a fence is required if the residence has children under age 7. Despite any legal exceptions, however, the most prudent thing homeowners can do is to enclose their pools.

Pool fences should not have openings exceeding 4 inches, nor should they have horizontal bars on the outside of the fence that are spaced closely enough to aid in climbing. Mesh (chain-link) fences should have a mesh size no greater than 1.75 inches, also to deter climbing. The inside of any pool fence should be at least 20 inches from the edge of the water, and the outside should not be placed close to any structure in the yard, such as a playhouse, that could serve as a “stepping stone” to climbing over it.

By practicing good pool safety and following the suggestions above you can make this a fun in the sun summer. Remember it can only take a second for a child to leave your site so proper pool safety must be a top priority.

iDeal Realty & Management

9051 W Kelton Lane, Suite 10

Peoria, Arizona, 85382

623-201-3544

 www.idealrealtyaz.com  

Phoenix Area Rental Statistics for June

iDeal Realty & Management
623-201-3544 
Email Us 

Median Lease $: $1,125
Average Lease$: $1,275
Average Days on Market: 43
Number of closed rentals last month: 3,061

 The heat map below shows where the most active rentals are. Areas with red circles have a flood of active rentals available driving down rental prices, where as small yellow circles means rentals are scarce and rental prices are up in general. Market statistics can change daily and the following information is for reference only.

Phoenix Pool & Yard Maintenance

Being that we are now getting into the summer months here in Phoenix, AZ I thought it would be a good time to bring this up. June through October here in Phoenix are the best months for swimming and having a great time in swimming pools. With temps reaching as high as 115 degrees, a nice cold pool to relax in can really do wonders for your sanity! But with pools comes great responsibility and one of those happens to be keeping up with your pool maintenance. Phoenix pool service is a must for keeping your pool nice and clean and a great company to check out here in the valley of the sun is Turquoise Pool & Yard Services. They do a great job and offer a unique approach to pool care by giving you the option of combining pool care and yard service with one company at a reasonable rate. This approach eliminates the chance that the landscaper will show up the day after the pool was cleaned so that you always have a crystal clear pool to enjoy.

Give Turquoise a call at 602-296-7178 and tell them iDeal Realty & Management referred you for the best pricing.

iDeal Realty & Management

www.idealrealtyaz.com

623-201-3544

Thank You!

I just wanted to take a moment and thank all of you who came out to our Gran Opening party on Friday. It was a great event, and we had more people than we have expected. According to  the Peoria Chamber of Commerce we had one of the largest events this year. We hope to have many more success stories like this in the years to come.

Thank You,
From the iDeal Realty & Management Team


P.S I have posted some pictures of the event on our Facebook page please take a look at them and like us while you are there!  www.facebook.com/idealrealtyaz

FOR IMMEDIATE RELEASE:

Contact:
Jason Danch
iDeal Realty & Management   
(623) 201-3544
jason@idealrealtyaz.com
www.idealrealtyaz.com

Jason Danch Earns NAR Short Sales and Foreclosure Certification
Buyers and Sellers Benefit from REALTOR® Expertise in Distressed Sales

Peoria, Arizona 6-14-12 — Jason Danch with iDeal Realty & Management has earned the nationally recognized Short Sales and Foreclosure Resource certification. The National Association of REALTORS® offers the SFR certification to REALTORS® who want to help both buyers and sellers navigate these complicated transactions, as demand for professional expertise with distressed sales grows.

According to a recent NAR survey, nearly one-third of all existing homes sold recently were either short sales or foreclosures.  For many real estate professionals, short sales and foreclosures are the new “traditional” transaction.  REALTORS® who have earned the SFR certification know how to help sellers maneuver the complexities of short sales as well as help buyers pursue short sale and foreclosure opportunities.

“As leading advocates for homeownership, REALTORS® believe that any family that loses its home to foreclosure is one family too many, but unfortunately, there are situations in which people just cannot afford to keep their homes, and a foreclosure or a short sale results,” said 2009 NAR President Charles McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth. “Foreclosures and short sales can offer opportunities for home buyers and benefit the larger community, as well, but it’s extremely important to have the help of a real estate professional like a REALTOR® who has earned the SFR certification for these kinds of purchases.”

The certification program includes training on how to qualify sellers for short sales, negotiate with lenders, protect buyers, and limit risk, and provides resources to help REALTORS® stay current on national and state-specific information as the market for these distressed properties evolves. To earn the SFR certification, REALTORS® are required to take one core course and three Webinars.  For more information about the SFR certification, visit www.REALTORSFR.org or call 1-877-510-7855.

Reminder of Our Grand Opening Tomorrow!

Our GRAND OPENING will be

June 15th, 2012

1:00pm - 4:00pm 

Ribbon Cutting at 2:00pm 

Join us for light snack, beverages and an opportunity to learn more about our company, our philosophy and what makes us stand out among the other property management companies. 

City of Glendale Votes on Jobing.com Arena Lease

The Glendale City Council on Friday afternoon voted, 4-2, to approve a 20-year arena lease management deal with potential Coyotes owner Greg Jamison as he and his group of investors attempt to purchase the team from the National Hockey League. The vote capped a rather lengthy special City Council Meeting at the City Court.  

Jamison, who is a former CEO of the San Jose Sharks, still has to be formally approved for ownership by the NHL's Board of Governors and league executives. The NHL Board of Governors expects to approve Jamison as owner in about three weeks.

Although the City of Glendale vote settles one of the larger questions remaining, there is still a lot of work to be done before the ownership of the Coyotes will be transferred and a deal finalized.

iDeal Realty & Management
9051 W Kelton Lane, Suite 10
Peoria, AZ 85382
623-201-3544
www.idealrealtyaz.com

Next Friday is our Grand Opening!

Our GRAND OPENING will be

June 15th, 2012

1:00pm - 4:00pm 

Ribbon Cutting at 2:00pm

Intrest Rates Fall Again

It won't be the first time you have heard the phrase "interest rates are at an all time low" however they have fallen again putting them at the lowest point ever and there are talks that they may drop even lower in the near future.

Below is just a sample of what interest rates are available on the market as of June 1st. If you were waiting for a sign that it is time to buy a new home or if you have always dreamed of owning your first home these rates should be sign enough.

Conventional: 20% down from AmeriSave

30 yr fixed       3.25%     APR 3.447
20 yr fixed       3.25%     APR 3.376
15 yr fixed       2.75%     APR 2.870

FHA 3.5% down from AmeriSave
 
30 yr fixed       3.25%       APR 3.922
15 yr fixed       2.75%       APR 3.201

iDeal Realty & Management

9051 W Kelton Lane, Suite 10

Peoria, Arizona 85382

(623)201-3544

www.idealrealtyaz.com

Why hiring a property management company pays for its self

Generally speaking there are two types of landlords today. There are those who were "forced" into being a landlord, because they would much rather sell their home, however  they are unable to do so because of the current market conditions. The other type of landlord is the investor, who is looking to buy houses at a bargain and rent it out for cash flow or to sell once the market rebounds. In either case professional property management is something that will pay for its self.

Let me show you an example of what I mean by professional property management paying for itself. Lets take a landlord and call him John. John has a property that is 20 miles away from the home that he is currently living in, and his mortgage payment is $1000 per month. The home should rent for $1250 per month.

First lets start with advertising

John says "I know how to post things on craigslist", and in fact John has sold many things using craigslist. with this said that is exactly what John dose he makes a detailed ad for his property and sits back and waits for the phone to ring. Problem # 1 with craigslist is that craigslist is only one small place that potential tenants are looking for rentals online. To be successful you need to be on the MLS and post to the 20+ other rental sites on the web. So every week John re posts his ad on craigslist hoping the phone will ring more this week. Problem # 2 with re-posting once per week is that your ad will only be on the first page for about 20-30 minutes per week. To be successful you need to re post your ad every 48 hours which takes time. In the current market rentals are taking between 30-60 days to fill. Lets say it took John 50 days to fill his rental that cost him $2000 in mortgage payments.

Second lets look at showing the property to potential tenants

John has gotten a few calls on his property and he is excited so he schedules a time to show them the property. The first appointment he has is at 1pm on Saturday, he drives the 25 miles to the house and arrives at 12:45 to wait for the potential tenant... 1:20 rolls around and the tenant has not shown up... and finally at 1:30 the potential tenant calls John to let him know she will not be able to make it after all and wants to take a look at it at 5pm instead. Disappointed John agrees to meet at 5pm and drives the 25 miles back to his home only to drive back a few hours later. By now I think you get the point that not everyone who wants to look at the property will show up. Generally you will have to show a property to an average of 5-10 potential tenants before you get one qualified applicant.  All said and done John put 480 miles on his car and spent $95.76 on gas to show his property, not to mention the amount of his personal time he invested.

Now lets discuss qualifying a tenant and writing a lease

After 50  frustrating days of meeting people at his property and fielding phone calls John is desperate to find a tenant for his place so he decides to accept an application for a lady who says she works for her brothers construction company. John decides to download a lease from the internet and to tweak it to make it work for his situation. The tenant is good and pays on time for the first 7 months and in month 8 the tenant calls John and says she will be a little bit late with the rent payment. John spends the rest of the month trying to track down the rent before he decides he needs to get professional help.

Now in this example bob is out the cost of the professional help plus the $1000 mortgage payment that was not paid by the rent. Also John spent $650 for professional help with the eviction, which would be covered by the eviction assurance plan if he would have gone with property management services from iDeal Realty & Management. Also now he must re advertise and show the property all over again and wait for a new tenant.

Lets total up the Costs and see how much John saved... or could have saved

Renting the property himself cost

• $2000 - Mortgage payment before finding a tenant
• $95.76 - Gas to drive to showings
• $1000 - Mortgage payment when tenant fell behind
• $650 - Professional help with the eviction
• Having to re advertise and going through the process to find a new tenant
• Total Cost - $3745.76

Using a professional property management company (iDeal Realty & Management)

• $695 Marketing fee (paid when a tenant moved in) utilizing MLS and 20+ websites
• $10 set up fee
• $75 per month Management fee
• $10 per month Eviction Assurance (exclusive to iDeal Realty & Management)
•   Not having to invest any of your time or energy into the property and having a tenant that was properly qualified living in your rental
• Total Cost - $1,715.00

So as you can see professional property management really does pay for its self in the long run.

If you are in need of professional property management give the pro's at iDeal Realty & Management a call today!

iDeal Realty & Management 

9051 W Kelton Lane, Suite 10

Peoria, Arizona 85382

623-201-3544

www.idealrealtyaz.com

 

What type of real estate investment income is right for you?

When getting started in the real estate investing game, new comers are generally focused on two things. How much money will they make, and what will they be buying with all that money. Although those are good things to keep in mind, there's a critical consideration they should not hastily over look: the two different types of incomes that can be generated by investment properties.

Income Type 1: Ongoing Cash Flow

On going cash flow is usually generated from monthly rental income. When a property is rented, the investor receives the rental income and uses some of that income to pay the taxes, repairs and property management fees that a property incurs. The rest of the money collected after paying all the fees associated with a particular property is profit for the investor.

Income Type 2: Capital Gains

Capital gains income comes from selling the property at a higher price than it was bought for, usually associated with a rehab or property flip. The investor has (usually) already spent money to buy the property and fix it up so the money received from the sale of the property is used to pay off debt and expenses incurred during the rehab. The rest is profit for the investor.

Things to consider

While investors are thinking about all that potential profit from the cash flow income or capital gains income, they should also be thinking about this: Each one has a distinct impact on the budget. Ongoing cash flow from rentals can tie up your capital for the long-term but creates a dependable stream of regular, predictable money that becomes increasingly profitable as the mortgage is paid off, plus you can recoup most or all of your initial investment at resale if you bough at a good price. Capital gains income is slightly more liquid (in that you intend to sell the property and get the money back at some point soon) and results in big "spiky" windfalls, one downfall is if a property you intend to flip sits on the market for a long period of time you may not make any money and in turn might even loose money.

One provides steady and dependable but relatively small monthly payments. The other provides big buckets of money but less steadily and with greater deal of risk.

 Which type of income is right for you?

Each one has its advantages and disadvantages. There are a million real estate investing gurus out there who can suggest an answer but only you know what is best for your budget. No matter which investment strategy you decide to go with we at iDeal Realty & Management can help you make the most of you investment. Give us a call to discuss you options and your investment goals and we can put together a plan that will help you achieve them. 

iDeal Realty & Management

9051 W Kelton Lane, Suite 10

Peoria, Arizona 85382

(623) 201-3544

www.idealrealtyaz.com

How Owners and Residents Can Lower Their Electric and Water Bills

iDeal Realty & Management
623-201-3544
www.idealrealtyaz.com

Summer is prime time for high bills especially in Arizona, but by utilizing some of the tips below you could help your self save a ton of money.

Save Electricity

If you use electricity as the main energy source for air conditioning and food preparation needs, then there are effective ways to reduce energy costs.
First, make sure your home is well insulated. Room-darkening shades and weather stripping around the windows and doors are essential. Turn up the thermostat on the air cooling system by just 3 degrees and you’ll save almost 5% on your electric bills if combined with improved insulation. The use of box fans and ceiling fans can make quite a difference in keeping a home comfortable and reducing the need for continual air conditioning usage.

Your local utility company usually has pamphlets and online sites that discuss how to save electricity. Here are some more summertime electricity savings tips:

• Keep your blinds, drapes or shades closed during the day.
• Use ceiling fans or windows fans instead of air conditioning. Ceiling and window fans use much less electricity.
• Only use air conditioning when it is hot outside.
• Turn off your air conditioning if you will be gone from home for more than an hour. At least turn the thermostat much higher.
• Clean or replace your air conditioning filters every month (in both central and window air conditioners).
• Plant trees in your yard to shade your house in the summer. Get advice from a nursery or tree specialist concerning the best tree types to use.
• If you can, shade your air conditioning unit. If your unit is in the bright sun, it will use up to 5% more energy than if it was in the shade.
• Use energy efficient light bulbs such as CFL's or LED lights as they use 3 times less energy and produce less heat then regular incandescent light bulbs, helping keep you house cooler.
• Check your attic vents, often times attic vents become clogged with insulation causing excessive heat to build up in your ceilings, causing your air conditioning unit to work harder.
• Use the exhaust fan when cooking foods that will produce steam or when taking a shower, as steam adds water vapor to the air raising the heat index.

Conserve Water

You can save money on you water bills too! Here are just a few overlooked suggestions

• Replace shower heads with newer low flow show heads, also limit the time of you showers the average shower head uses 2.5 gallons of water per minute. 
• Run your clothes washer and dishwasher only when full, you could save up to 1000 gallons of water per month
• When washing your dishes by hand don't allow the water to run continuously, instead fill one side with soapy water and the other side with rinse water.
• Also when shaving and brushing teeth don't allow the water to run contentiously. When shaving fill the sing with a small amount of rinse water to swish the blade in between passes.
• Use the garbage disposal minimally, instead compost organic food matter if possible, not only dose this save water but is good for the environment and your plants also.
• Water you lawn and garden in the early morning or evening when temperatures are cooler to help minimize evaporation.

Phoenix Area Rental Statistics for May

iDeal Realty & Management 623-201-3544  Email Us  Median Lease $: $1,100 Average Lease$: $1,234 Average Days on Market: 40 Number of closed rentals last month: 2,790 Closed Rental Units Per Month The heat map below shows where the most active rentals are. Areas with red circles have a flood of active rentals available driving down rental prices, where as small yellow circles means rentals are scarce and rental prices are up in general. Market statistics can change daily and the following information is for reference only.