Property Management Firms: What Good Are They?

Property Management Firms: What Good Are They?

In Phoenix, there is a new renting class — people who have been homeowners for years and now find that they are in a position where they need a home to rent due to a short sale or foreclosure.

And there are also investors coming in and buying properties “on the cheap” (?) who are first time investors and have never actually managed a property as an investment before.

Should I Use A Property Management Firm?

And at different times in the last few weeks, people from both of these groups have asked me “should I use a property management firm?” And based on my many conversations with my friend who happens to run a Las Vegas Property Management company, my answer has been “well, it depends on what kinds of things you care about”. There is no one right reason to use a property management firm (or not) — there are only shades of gray, so to speak.

But here are just a few of the benefits of using a property management firm…

For Investors:

  • When you work with a quality property management company, they take care of all of the accounting. Don’t under-estimate this. Things like rent collection, deposits and pretty much all-things accounting.
  • Finding tenants. Many times finding tenants can be painful. Finding the “right” tenants is what you really want – and a property management company takes care of this.
  • Managing the maintenance. Broken toilet at 2am? If you have a property management company in place, they are taking care of it – not you. If you don’t have a property management company in place, be ready for that call because it will come sooner or later.

For Tenants:

  • Most of the time, if you work with a property management company, they will be local. Which means that even if the landlord lives out-of-state, you will still have someone who can respond in person when needed.
  • A property management company has experience – they are not someone who has just bought their first investment property and is making-it-up-as-they-go-along.

So…should you use a property management firm?

It depends.

2010: Hottest Real Estate Markets

Remember back to 2006 when it seemed that Arizona was on pretty much every “top 10 places in Real Estate”?

Not anymore.

And you can also forget about Nevada, Florida or California.

Or anywhere else on either coast.

2010 seems to be the year of the “center”.

As in, if you are a hot real estate market, chances are that you are in the center of the US.

Top real estate markets in 2010:

Casas del Oso – Luxury Custom Home Builder in Scottsdale, Arizona

Custom Luxury Home Builder, Scottsdale Arizona (Casas del Oso)

Recently, I have had the opportunity to become familiar with Casas del Oso, a custom luxury home builder in Scottsdale, Arizona. They build the most beautiful homes based upon the romantic architecture of Spain, Italy & Mexico. Most of their homes are located predominantly in golf communities in the greater Phoenix area.

I had the chance to tour one of their homes, and I must tell you, the craftsmanship, care and passion is very impressive and nothing but stellar. Over the past few months, I have also had the opportunity to speak with Barry and Christy Smith, the owners of Casas del Oso. Barry is the architect of the homes they build. He has a deep passion for building the client’s life experiences and lifestyles into their homes. He takes great pride in the close relationships they build with clients and the authenticity and craftsmanship these homes bring to the neighborhoods. These homes are truly a work of art.

Barry explained to me how when meeting with clients, he takes their passion, heart and soul and creates an authentic home that meets their needs, wants and desires. As no two clients are ever the same, Casas prides itself on its innovative design. Barry feels that every home they build is custom designed and calculated to meet each homeowner’s specifications.

Don’t take my word for it; head on over their website and take a look at the slideshow under “the details” section. It is truly amazing!

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