How Does Landlord Insurance Work in Phoenix and Why Do You Need It?
Owning investment property in Phoenix can be profitable and lucrative. However, it can also be risky. Landlords take on a lot of liability, and they want to be sure one of their largest assets is protected.Insurance is essential.Today, we’re explaining what kind of insurance you need as a landlord, and why.Insurance is Part of Risk ...
Property Management Market Update for Landlords
Cromford Market Update After the initial shock of dealing with the COVID-19 pandemic, businesses have responded with impressive ingenuity. There are now delivery and curbside options at restaurants and retail shops throughout the nation. While investors were initially spooked by the uncertainty of the pandemic, the economy is beginni...
Phoenix Property Managers: How Do You Settle Security Deposit Disputes?
One of the most common reasons for disputes between landlords and tenants is that they don’t agree on deductions made from the security deposit. Legally, landlords are permitted to charge the deposit for damage as well as any cleaning fees, unpaid rent, or overdue utilities. They are not permitted to charge for wear and tear. N...
What Can I Pay for with the Security Deposit for My Phoenix Investment Property?
Arizona law is pretty clear when it comes to security deposits; there are limits to how much you can collect and there are timelines for how long you can take to return the deposit at the end of a tenancy.Following those regulations isn’t usually a problem for Phoenix landlords. What gets tricky is knowing what you can and cannot de...
Who's Responsible for What When Your Tenant Breaks the Lease? | Phoenix Landlord Education
When a tenant breaks the lease and moves out of your rental property earlier than expected, it creates a financial hardship for you, and a lot of stress.At Service Star Realty, we don’t run into this situation very often because we have a strict tenant screening process which ensures we are placing tenants who will follow the terms ...
From an Accidental Landlord to a Confident Investor - Part 3
When someone comes into my office, they immediately start asking questions. I tell them that their questions are very important, and we will get to them in a moment. First, I want to ask the client an important question. What is their intention with their real estate? Is it for a short-term or long-term play? If it is a shor...
What to Do If the Tenant is Not Paying Rent | Options for Phoenix Property Owners
Hopefully, your tenant screening process is rigorous and detailed enough that you’re placing tenants in your Phoenix rental property who have a history of paying rent on time. The best way to avoid late rent payments is to screen tenants well before they even move in.However, even good tenants run into financial problems, and you mi...
COVID-19's Impact on Our Real Estate Market
COVID-19's Impact on Our Real Estate Market Recently, Airbnb announced that it would allow guests to get automatic refunds for reservations they made on or before March 14, 2020. At the moment, Airbnb lets guests cancel any reservations that were planned to occur between now and May 31, 2020. While this response to the COVI...
From an Accidental Landlord to a Confident Investor - Part 2
We really wish more people could get excited about buying and keeping real estate. They could see what it can do for them. What we do as professional property managers is to try to educate them about the benefits of real estate. Most people think that it is just about cash flow. Trying to get cash flow isn't actually that easy....
From an Accidental Landlord to a Confident Investor - Part 1
Over the years, we have seen a lot of people who own a house and can't sell it. We have also seen people who have inherited a property. Whatever the case, they are the people we call an accidental landlord. They have asked us for advice and what they should do with their property. They did not intentionally buy the proper...
