What Happens When a Rental Property Goes into Foreclosure


In 2009 the Tenant Protection at Foreclosure Act was passed and it ended in 2014, it was reenacted again recently in May. Here are some of the effects of that act.

How Landlords Can Make Their Rentals Stand Out

When you invest in a rental property , you may be surprised to find out how much of your job of running that property is marketing it. Vacancies are lost income, and the longer your rentals stay empty, the less viable it becomes to make money as a landlord. In a competitive rental market, your properties have to stand out in the crowd and attract qualified renters who are ready to move in. Working with a property manager in Mesa, AZ can help in your marketing process. This advice will also help you draw renters into your property. rental - home

Make a Plan with Your Property Manager

Involving your property manager in your marketing plan is essential. He or she can provide valuable information about what renters are looking for in your area and how much rent you should charge based on the neighborhood and your property features. Your property manager can also help you navigate the complexities of landlord-tenant laws to ensure that you don’t violate any legal requirements in the way you market your rentals. Often, your property manager can do a large amount of the marketing for you, so it’s helpful to know what they will do to promote your home, so you can focus on other avenues.

Make Upgrades

Any time you upgrade something in your rental properties, you are taking a step towards standing out from the competition. Consider investing in new appliances, or paint the walls and change the carpets. Making your properties feel as fresh, modern, and new as possible will drive up the interest among prospective renters. These upgrades will also make it possible for you to be as selective as possible when considering tenants instead of taking a chance on renters simply because you need to fill a vacancy as fast as possible.

Use Images

Today’s renters don’t want to just read about your property features. They want to see everything your home has to offer. Take high-quality photos and videos and use them everywhere you are marketing your homes. Letting potential renters see exactly what your properties are like will also reduce time lost to unproductive viewings.

How to Avoid Drain Issues in Your Home

If you have significant drain issues in your rental home, your property manager will arrange for repairs. However, you can avoid many drain issues with a few simple preventative measures. Be sure to call your property manager in Mesa, AZ if you notice signs of a leak or a drain that won’t clear, and watch this video for advice on reducing the risk of drain issues.

Keeping hair and other debris out of your drain is essential to keep them running clearly. A Zip It tool can help you remove hair, especially in bathroom sink and tub drains, where it is likely to accumulate. Be diligent about cleaning your drain when you see that it is beginning to slow down, and you can avoid larger clogs that need the attention of your property manager.

Using Our Rental Search Service to Find a New Home

At TransCity Property Management, Inc., we make it easy for prospective tenants to find great rental properties in Mesa, AZ, using our online rental system. Via our website , you can see our available properties and get all of the information you need to know about becoming a tenant.

Our website shows you specific information about each property we manage, including the square footage, number of bathrooms, number of bedrooms, and the current rent. You can search within specific areas of town and use our map feature to see exactly where all of our homes are located. You can also filter your search to limit it to properties that meet your specific criteria. When you find a home you love, you can apply for it online. Once you are approved, simply sign your lease and pay your deposit within 48 hours, and the home is yours to enjoy. We have new listings daily, so check back often until you find the perfect place to call home.

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Tips for Setting the Right Rental Rate for Your Property

When you own rental properties , you can’t make money when they are sitting empty. Keeping your rentals full comes down to setting the right rent. Setting your rental rates involves several considerations that a property management company in Mesa, AZ, with experience in the local market, can help you navigate. When you’re determining how much rent you want to get for your property, these tips will help you get it right. rental - properties

Avoid Standard Rental Rates

If you have multiple rental units, avoid the temptation to set a blanket price. For instance, instead of pricing all of your one-bedroom units the same, price them based on the amenities they offer. Charge more for things like views, updated appliances, open floor plans, or extra storage space. The price differences don’t have to be huge, but basing your price on the specific unit you’re offering allows you to maximize the value of each rental property.

Listen to the Feedback You’re Getting

When you advertise your rental unit, you can learn a lot about the appropriateness of your rent by the response you get. If you are inundated with an unusual number of callers who want to see your property, renters could be seeing your place as a steal. On the other hand, if no one is making an appointment to view the space, then your rent could be too high. When prospective tenants do see your rental, get their feedback. You may be surprised to learn how your property compares to others they have seen, and that feedback can help you decide if you should adjust your rent up or down.

Work with a Property Management Company

Having a property manager is one of the best ways to avoid missteps when you set your rent. Property managers know the market and how to target the right tenants for your home by setting your rent appropriately. They can provide advice on how much you can charge and when you should make adjustments, so that your properties stay occupied.

Design Inspiration for Your Rented Home

Your home isn’t just a place where you sleep—it should be a visual reflection of who you are and what you care about. It can be difficult, however, to decide how to translate your personal sense of style into a beautiful yet comfortable personal space. In this video, Toronto designer Jennifer Ferreira explains how she used a wide array of modern décor to turn her rental apartment into a space that was truly her own. Combining minimalism with timeless style choices, Jennifer created a unique home design that may help inspire you as you look to turn your own rental home properties in Mesa, AZ, into spaces that will attract tenants.

Strategies for Finding the Right Renter

When you’re in need of new tenants for your rental property in Mesa, AZ, you may be wondering how you go about finding responsible people that you can depend on. Knowing how to pick the right renters is essential, as making hasty decisions can mean lost money and damaged property. Fortunately, it’s not hard to narrow down your list of applicants to find the best ones—as long as you know what qualities you should look for. renter - qualifications

Look for a history of paying the rent on time. The most important quality of any tenant is simple: He or she needs to be able to pay you the rent on schedule. Along with getting testimony from a prospective tenant’s current and former landlords, you need to verify your tenant’s income to ensure that he or she will be more than capable of paying the rent along with any other monthly fees.

Do a background check. Most property owners would hesitate to rent to a tenant with a history of violent or criminal behavior. To ensure that you are not inadvertently renting to an individual who may damage your property or become involved in illegal activity while there, it’s essential to do a complete background check.

Check their credit history. The surest way to tell whether a prospective tenant is a responsible person is to look at his or her credit history. If an individual has a record of paying bills on time and has no outstanding debts, it’s a likely sign that he or she will be a safe person to rent to.

Use your personal judgment. If a person’s history as a tenant, background check, and credit history are all spotless, it doesn’t mean that the elimination process is over. Before making a final decision, interview the tenant yourself and ask if he or she seems like a trustworthy person that you would like to do business with. When in doubt, trust your instincts.

What Prospective Landlords Need to Know Before Buying Their First Rental Property

If you are thinking of buying a rental property and renting to tenants, it’s important that you take the time to understand what being a landlord really means. Renting any property is a major undertaking, which is why it can be so beneficial to hire a property management company to handle the day-to-day details on your behalf. Here is what you should know before you begin renting a single family home in Mesa, AZ. rental - property

Finding the right tenants can be challenging. The biggest challenge any property owner faces is finding the best possible tenants. This means interviewing each applicant, showing them the rental property, doing a background check and credit check, contacting their past landlords and current employer, and weighing the positive points of one prospective tenant against all the others. This can be extremely time-consuming, which is one of the reasons it’s smart to find a property manager to take care of the task of finding and interviewing tenants.

Landlords have to do maintenance. If your tenants experience any problems with your rental property—whether it’s a plumbing emergency, a blown fuse, or a broken window—they are going to call you for help. If you don’t have a property manager working with your tenants, you’re likely to find yourself spending a lot of your spare time finding contractors to do repair work on your properties—or even doing the work yourself.

It pays to learn the laws. Before you become a landlord, it’s essential that you familiarize yourself with all of the relevant zoning laws, fire codes, insurance requirements, and regulations of landlord-tenant issues. Remember that the rules may differ depending on the state, city, and even neighborhood your property is in. Keeping track of all of these rules can be overwhelming, and it can be helpful to have a property management company handling these issues for you.

Quick Tips for New Renters

Connecting with rental management companies in Mesa, AZ, is often the first step toward finding the right apartment to rent . But before you sign on the dotted line, make sure you understand every word in the lease agreement. Property managers can and will make sure that this legally binding document is enforced, so be sure that you understand what your responsibilities are.

As you watch this video, take note of the importance of the pre-rental inspection. Apartments that are taken care of by rental management companies are generally well maintained, but you might notice some signs of damage. Write a detailed list of all existing problems and take pictures. The property manager should agree in writing that the damage existed before you moved in. This helpful video also offers advice on making cosmetic changes to rentals and bringing pets with you.

Reasons to Prohibit Smoking in Your Rental Units

If you plan to hire a property manager in Mesa, AZ, to take care of your property management needs, you’ll need to make a few decisions about the conditions of residency. Rental management companies strongly recommend that landlords prohibit smoking in all of their units and in fact, some property managers may have an established no smoking policy. There are many good reasons for this. For landlords, getting the most value out of their properties is among the top considerations and smoking in an apartment is a surefire way to significantly reduce its value and increase tenant turnover.

When a tenant is actively smoking inside a rental unit, the smoke readily drifts under doorways and through the ventilation systems to reach other apartments in the building. This jeopardizes the health of all of the other residents as well as their quality of life. Even if a tenant goes outside to smoke, it’s inevitable that the smoke will drift back into the building when a door or window is open. Quite simply, smoke cannot be contained to one area. Furthermore, long after the smoker is gone, the carcinogenic residue remains. It is extremely difficult to remove this residue, known as thirdhand smoke, from furnishings, walls, ceilings, and elsewhere. Not only does this leave a lasting and unpleasant odor, but studies show that thirdhand smoke is just as dangerous as secondhand and first-hand smoke.

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