Learning Center

With multiple tasks to attend to, landlords may forget to take time to evaluate what tasks streamline their rental business operation. Upon deeper analysis, they may also find ways to cut costs. Here are some tips to remind landlords what they should focus on: Attend to Lease Renewals As a landlord, you should record the end of tenancy date so you can provide your renters with lease renewal contracts 90 days before the lease rental period terminates. Otherwise, you can end up with a month-to-month rental arrangement without a lease agreement st…

The easiest step in creating a steady stream of passive income and building generational wealth by investing in MULTIfamily property is simply buying a building. Sure, you must shop intelligently and often with the help of a knowledgeable broker, but anyone with sufficient capital can buy a building. The challenge for investors is getting a suitable return on investment. The return on your investment in MULTIfamily property depends on attracting and signing qualified tenants. What does it take to succeed with rental property? There are three fu…

Whether you’re about to pull the trigger on a new MULTIfamily investment property or already own one, you’re faced with a critical question: How do you know how much you should charge for rent? In this article, I’ll tell you how to make the best decision. I’ll also discuss why that decision is so important. Can you figure out what’s reasonable rent on your own? Yes. All you need is access to a computer. You can either figure out how much rent to charge by yourself, or you can enlist the help of an experienced property manager. Read on to learn…

Quick answer: Mesa is one of the better-value rental markets in the Phoenix metro. You get lower entry prices than Tempe, Scottsdale or Gilbert, steady demand from workers at Boeing, Banner Health and ASU Polytechnic, and fast growth in the southeast. The best areas depend on your goal: Southeast Mesa and Eastmark for newer builds and appreciation, Dobson Ranch and Superstition Springs for stable rentals, and the older central corridors for value-add homes and small MULTIfamily. Key takeaways Mesa usually costs less to buy into than Tempe, …

Quick answer: Managing it yourself saves the fee, usually 8-11% of rent for a single home and 5-9% for MULTIfamily. What it costs you is time, the after-hours phone calls, and real legal risk if you get an Arizona eviction or a deposit wrong. Hiring a manager pays off once your time is worth more than the fee, you own MULTIfamily, you live out of town, or you want to add doors. For most Phoenix owners past a unit or two, it does. Key takeaways The management fee is the cost you can see. Vacancy, under-market rent and a bad tenant are the on…