Sunday, December 6, 2015

How much money should I budget for maintenance on my rental home?

This is a common question I receive. I am often asked this question by new clients that have just become landlords, those that are thinking about becoming a landlord, or real estate agents that want to give their clients some good information. They want a number that they can plug into their calculations so they make sure they...

Monday, July 6, 2015

Tucson houses rent for a median of $1,100 within an average of 52 days so far in 2015

I have just evaluated the Tucson residential rental market from January 2015 through June 2015 using Tucson Association of Realtors Multiple Listing Service (MLS) statistics. Although not all rentals are captured in the MLS, it is fair to say that the data captured is a representative sample. Single Family Homes Usin...

Wednesday, May 6, 2015

Want smoother move-outs? – Begin with the end in mind

When a tenant gives notice that she plans to move-out of her rental property, the landlord receiving the notice often shudders. From dreading the potential vacancy period, to computing the potential turnover costs, the impending tenant move-out typically does not conjure feelings of joy and happiness in landlords. However, the...

Monday, April 6, 2015

How to increase the value of your Tucson rental?

The 2015 Cost versus Value report was recently published and can be downloaded at costvsvalue.com. Although they don’t have Tucson specific data, they do have Phoenix specific data. Phoenix is part of the “Mountain” region as they define it. The report is very interesting and it confirms what I already...

Thursday, March 5, 2015

Should I allow e-cigarettes in my Tucson rental if I have a no smoking policy?

I remember when I first heard about e-cigarettes, I wondered if they were some sort of virtual reality experience through an avatar that somehow gave people the same sensation they get from actually smoking cigarettes. But of course that’s not what they are. E-cigarettes are battery operated electronic devices that deliv...

Sunday, February 8, 2015

How to keep your 2015 resolutions on track

About a month into the new year is when many people begin to give up on their New Year’s resolutions or have forgotten about them all together. It’s always interesting to see all the new members at the gym in January. They bought their gym membership as part of a New Year’s plan and are excited to change the ...

Tuesday, January 6, 2015

Tucson houses rent for a median of $1,100 within an average of 51 days in 2014

It’s hard to believe that yet another year has passed! But as you are contemplating your resolutions and goals for the upcoming year which may include investing in a rental house or two, I thought it would be beneficial to take a look at the past year’s rental statistics. I have evaluated the Tucson residential...

Monday, December 22, 2014

Arizona Sales Tax Law Change Impacts Tucson Rental Repair Invoices

In 2015, changes will be put in place that impact the transaction privilege tax, commonly called sales tax, paid by contractors here in Arizona. Effective January 1, 2015, contractors that conduct “maintenance,” “repairs,” “replacements,” and “alterations” (which includes all rental pr...

Sunday, November 9, 2014

Landlord Hires Wrong Contractor, Pays the Price

There are a lot of potential risks and pitfalls in managing rental properties. Working with contractors is one of those risks. I find that many landlords don’t understand what the risks are, not to mention how to protect themselves from them. So I thought it might be beneficial for you to understand the potential r...

Monday, October 6, 2014

How does the minimum rental criteria impact the vacancy period of your rental property?

I am often asked what the typical vacancy period is for single family home rentals here in Tucson. Using the Multiple Listing Service statistics, average days on market (DOM) historically hovers around 45 days. By the way, DOM is defined as the number of days between the day the property comes onto the market and the day it is...

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