AZ Prime Property Management Owner FAQ's
Listed below are common received questions that we are often asked by prospective Property Owners.
Also please make sure to visit our Owner Sample Docs for more information.
Please always let us know if you have any questions!
- Why should I use a realty management company to manage my home?
- Can I choose to disallow pets, smokers, large families, etc.?
- Do you provide me with account activity on my property?
- Do you need to be licensed to perform realty property management?
- Are there any up front or out of pocket costs to lease my property?
- When do you process owner deposits and statements?
- Do I lose control of my property once you start to manage it?
- If my property is vacant, do I still pay a management fee?
- What if I want to use my own repair people?
- What about repairs and how much for repairs?
- How do you determine the rental amount for my property?
- How long will it take to lease out my home?
- How much security deposit do you collect?
- Who holds the tenants deposit?
- How do you secure a tenant for my property?
- How do you determine if a tenant is qualified?
- What if a tenant doesnt pay rent on time or becomes late?
- What if the tenant damages to my property?
- How often do you inspect the condition of the property?
- What happens when a tenant gives notice to vacate or non renewal notice?
- What do you do if the tenants are not taking care of my property?
- Do I need insurance on my property?
- How soon can you start managing my home?
AZ Prime Property Management clients choose our services for a variety of reasons, yet below are just a couple reasons why people choose professional realty management over self-management:
- We handle all maintenance and emergency issues, 24/7 everyday of the year.
- We handle all rent collections and monthly rental tax payments and address any NSF issues.
- We handle all eviction paper work, prelim filings and the necessary steps needed for non payment of rent.
- We are familiar with Federal, State and Fair Housing Laws.
- We handle all the move in and move outs.
- We reduce Vacancies & Turnover
- We find and secure quality tenants
- Reduce maintenance costs through our extensive vendor network
- Maximize your ROI
- Protect and preserve you rental property
- and many other factors!
We comply fully with the Fair Housing Act. This means that you can not choose to disallow anyone that is a member of a protected class or category as listed under the Fair Housing Act. Fines are extreme for any violations so you must be familiar. You can choose to disallow pets and not permit smoking in your home, but you cannot deny a service animal. If you have additional questions on the specifics of the Fair Housing Act, please see our fair housing page.
Yes. We provide all property owners a detailed monthly statement which are published each month. The statements include items such as incoming rents, additional income received, maintenance repair items, payments made to vendors, rental taxes collected and paid out, HOA payments, mortage payments, etc. You can always login to your portal 24/7 to view the most recent transactions on your account. There is a sample monthly statement for your review under the Owners tab. If you have questions regarding your statement, please do not hesitate to contact us.
Yes. AZ Prime Property Management is a licensed full service real estate Brokerage in Arizona.
Not with us! We cover and pay for all the marketing and advertising fees along with any co-broke's paid to other real estate brokerages. There is a one time $299 set up fee. Please call or email us for a $200 off coupon if available! You pay $0 until your property is leased with no vacancy fees!
We process our owners ACH direct deposits on the 10th/11th of each month; statements are also generated every month. Owners requesting checks are also mailed out on the 11th of each month; if you have an IRA or investment account we process checks and payments directly to your third party if requested.
We want you to be informed of the activities of your property and encourage owner involvement and to always ask any questions you might have. The web portal will give you great clarity on your property also. We have some owners that never want to be contacted and just receive their direct deposit and others want to be more involved. You are in control of repair limits, tenant lease renewals, rental rates etc.
Not with us! Management fees are only earned when rent is collected. There are no fees when your property is vacant and we cover all the marketing and advertising fees while vacant.
An owner may request to use their own vendors as long as they meet our criteria and carry the necessary insurance and licenses. Note we must issue a 1099 for vendor repairs so if you want for us to use your vendor we will need to collect some information from them prior to any payments. We receive extremely competitive rates from our vendors due to the volume of work we refer so it will be difficult to beat our vendor rates.
In our property management agreement we set a repair limit amount in the amount of $200.00 which cannot be exceeded without owner approval except in cases of emergencies. You can also select a higher amount if desired. You are also provided with the actual vendor invoice and its also reflected on your monthly owner statement. We also are setup to submit work orders to most of the home warranty companies if your property is under contract with a policy.
We use many factors to determine the appropriate rental rate for your property. We run comps on all our properties and being Valley wide we have an excellent grasp on rental rates and the areas with demand and softness that will effect rental lease rates. We also update comps on rental lease renewals and turn overs.
We typically lease out properties within a 30-45 day range; sometimes in a week. There are many factors that come into play, yet overall condition of the property, strength of the rental market, time of the year, along with time of the month unit is brought online all have major impacts upon the speed by which the property is leased out.
Typically we collect one month equivalent along with a $300 cleaning and $250 per deposit; note in Arizona a landlord can only request 1.5 times the rental amount for refundable security deposits.
Tenant’s deposits are held in an non interest bearing segregated trust account administered by AZ Prime Property Management in accordance with Arizona Dept of Real Estate requirements. Total deposits that we hold are also reflected on the tenant rental lease which is uploaded to your portal and also listed on your monthly statement.
Once we secure property we will take pictures and video of your property and then list on approx 40 paid websites; we typically use the premier listings section to be on the front pages. As a property management real estate Brokerage we also list on the Arizona Multiple Listing Service and many other avenues to find qualified tenants. We also waiting lists in our system of tenants looking for certain requirements and once a similar property is activated they are automatically notified.
Applicants are screened per our Pet and Rental Qualification criteria listed on our website. We also run credit, criminal and sexual background checks along with employment verification and rental verifications.
Per our lease agreements, rents are due on the 1st of each month and become late on the 2nd. We typically provide a 5 day grace period; if tenant has not paid after the the 6th of the month we process and send out 5 Day Notice to start the eviction process; sometimes if a tenant is having an issue with rent we will allow a partial payment agreement form to be executed to help with the tenant yet determined on a case by case basis.
Tenants are responsible for all damages beyond normal wear and tear. If the tenant does damage to your property, vendors will be dispatched after move out and back charges will be deducted from tenants security deposit. If the cost of repairing the damage exceeds the amount of the security deposit, you can sue for the additional amount owed in small claims court, yet this rarely happens.
We perform an annual walk thru at renta lease renewal upon request and also at tenant move out. Other inspections may be performed if one of our vendors notices something “unusual” at the property or per property owners request. We perform inspections monthly when property is vacant yet typically we lease out units within 30 days. We ask to be added to your HOA contact list for tenant violation notifications also.
Once we have received notice of non renewal of lease from tenant or possibly from property owner typically 30 days out we provide tenant with a check list of items to perform. Once the property has been surrendered we will perform our walk thru; we take pictures of condition of property and upload to portal; if there are any back charges vendors are dispatched and if applicable back charged to tenant. Note we only have 14 days to close out a tenant so the process must move quickly.
Depending on the issue, a 5 Day Health and Safety notice can be issued or a 10 Day Curable notice yet these are very uncommon; not most notices are received from HOA's in regards to trash cans being left out or some landscape issue; we immediately contact the tenant and provide the tenant an opportunity to correct the situation. We can always provide a walk thru inspection of the property if requested by property owner and if we feel necessary also.
Yes. You will need to maintain your own insurance coverage and we highly suggest for you to speak to your insurance agent for any additional coverage that might be available or questions you might have. We also encourage and provide tenants with renter insurance quotes and options.
We can start the process immediately! All of our property management documents are signed via online with electronic signature or we can schedule a time for you to sign at our office. Once executed all we need are the keys to property and we will start with our marketing and advertising campaign and get your property online asap! Call our office at (480) 449-6632 or email us at email@example.com for more information.
Remember you pay $0 until your property is leased to a qualified tenant!