I’m Gloria Murphy, a realtor here in Albquerque, New Mexico. I’m a real estate professional that has had the privilege of living along or near Route 66 my entire life and I’ve seen what it’s done to help tourism within the many communities along the “Mother Road”. I’ve even travelled east and west along it from Santa Monica to Chicago.
I love everything to do with real estate including:
Buying a home
Selling a home
Real estate investing
Because of my love of real estate and Route 66, I decided to name my personal real estate business “Route 66 Real Estate”. If you are looking to buy or sell a home in the greater Albuquerque area, give me a call at (505) 216-2134. I’d be happy to help you find the home of your dreams.
Thank you Coronation Internet Marketing for the awesome help with my web design and SEO support. This company are the best Albuquerque SEO experts that I’ve ever have had the privilege or working with. Many thanks to them for all of their support and help.
It’s a well known fact, that a wide variety of property management companies in Phoenix, Arizona make a small amount of effort when it comes to managing their client’s property. As such, it comes as no surprise why many property owners, prefer to manage their properties themselves. However, time is money and as one successful business man once said” Never do something, that you can pay someone else to do.” Fortunately however, there are a few signs to look out for, when it comes to finding a competent Phoenix property management company. Use this overview as a guide when it comes to filtering competent property management companies, from the latter.
1) Referrals From A Realtor Or Friends
One of the best ways to find out how competent a management company is, by asking your friend or family members about their experiences with any companies that may have previously utilized. If this is not possible, another alternative route you can take, is to evaluate if the property management companies within your area, have a social network profile. “You can use this profile to see the reviews and comments of their previous clients.” says Scottsdale property management expert Stephen Hayes. Last but not least, many professional realtors, will keep a list of reputable companies that they can refer you to.
Even though a company may have acquired an abundance of positive reviews, it doesn’t necessarily mean that they may be a perfect fit for you. As such, another route you can take is to conduct a personal one and one interview with an authoritative figure within the company’s establishment. By doing this, you can determine if the company is a right fit for your particular circumstance, after you have evaluated their responses to all of your concerns.
3) Investigate The Property Management Company’s Current Rentals
According to Red Hawk PM “Another sign to look our for that indicates competence is the condition of the rentals they currently manage. Most if not all reputable property managers will be more than willing to demonstrate how competent they are at providing their services, by giving you a list of the properties that they manage.” Once you have gotten the address of 3-4 rentals that they manage, some of the things you should look out for are:
Condition of the landscape that surrounds the property.
Signs of vandalism.
Overall condition of the property such as the painting on the property and structural integrity for example.
4) Find Out About Their Licensing
Even though a company may proclaim that they have the necessary license and certification to operate within the state, this may not be the case in all actuality. As such, one of the most important things you need to do, is to check your state’s guidelines pertaining to the requirements that a management company has to uphold and to check to see, if the potential company is within full compliance of the laws and guidelines of your state.
5) Review The Management Agreement
Even though, no one really takes the time to read the terms and agreement portions of a contract, such as making a purchase online, you need to ensure that you check to verify that the information within the agreement is accurate. As such, ensure that:
The agreement, details all aspects of the agreement, such as the responsibilities you will still have to maintain and the responsibilities that they will be held accountable for.
You have the right to terminate the agreement, if you are not satisfied, with the company’s service as well as the penalties or fees that are associated with an early termination of the agreement.
Consult a real estate attorney about any portions of the agreement that may be unclear.
Ensure that there is a section that specifically states that they abide, by the federal and state Fair Housing Laws.
6) Eviction Rate
Last but not least, the single most important aspect that determines a company’s competence, is their eviction rate. High eviction rates, indicate that the manager, is not doing a thorough job of screening the tenant’s applications. It’s also worth noting that you should inquire about their tenant screening procedure as well. For example, most Phoenix property management companies, require that a tenant needs to provide proof of income, submit to a credit check as well as give references from previous landlords.
Amongst the various investment options that are well and truly worth considering there is no doubt that investing in real estate is a wonderful choice. There hardly have been any instances where customers have lost money after having invested in properties. Though investment in stocks, shares, commodities and precious metals is also quite lucrative, when it comes to long term investments with reasonably assured growth there is no doubt that property investment is the best way forward. However, there are some important points to be kept in mind.
How To Get Started
Even if you are an experienced investor in properties, both domestic and commercial, there are some important starting steps that you should bear in mind.
Having a firm idea on the budget for investing on properties is something that you should always bear in mind. This is important because it will help you to have a clear idea about the source of funds. It will also help you to plan your borrowing from banks and financial institutions.
While looking for bank loans you must do your homework properly. You must know your limits when it comes to repaying the loans. Home and mortgage loans and this factor should always be kept in mind.
“Hire a broker who is experienced in investment properties” says Cardas Mugridge realtor Maple Ridge Benjamin Wilson. “You’d be surprised how many people over look this important aspect.” If you need someone to help you here in Albquerque, give me a call!
Look At Ways To Earn Revenue
While buying real estate properties you should have two objectives in mind. First and foremost, you must try and maximize the capital gains from it. This would call for holding on to the same for a long period of time. In the short, medium and long term, your aim should be to maximize revenue from the property by way of rent or lease. This certainly will help you to conveniently repay either part or the entire loan while the capital appreciation of the property moves full steam. Hence it is about hitting two targets with the same bullet.
Hire The Services Of Professional Agents
There are benefits galore when you decide to hire the services of experienced and professional property agents. They will not only help you to identify the right property, but will also go a step further and ensure that you get the best deal out of it. They will coordinate with banks and financial institutions and offer many other services. They can also help counselling about the pros and cons of a property if they are well and truly professional.
Things To Be Done Once The Property Has Been Bought
While the role of property agents, banks and financial institutions are very important during and before buying the property there are some important jobs that need to be taken care of once the property is bought. These include the important role of property management companies for efficient and professional management of the property. Their role is to take care of the upkeep and maintenance of the property, be a liaison between the tenants and the property owners, take care of the statutory obligations pertaining to the property and much more.
Have The Courage To Say No
Lastly, while buying the right property should be your big dream, you also must have the courage and conviction to walk out from a deal if it does not suit your requirements in any manner whatsoever.