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Professional Vacation Rentals & Management Services Throughout Arizona & Costa Rica

Providing Premier Real Estate Services For Buyers, Sellers, Investors & Vacation Renters In Costa Rica's Tropical Paradise

Providing Premier Real Estate Services For Buyers, Sellers, Investors & Vacation Renters Throughout Arizona

Providing More Than Just A Rent Check

The Vacation Rental industry can be a wonderful opportunity to establish a significant amount of passive income, but if you plan on managing it yourself it's important that you understand what type of time commitment this requires.

On top of the constant phone calls, marketing expenses, lease writing, daily book keeping, renter move ins and move outs, property inspections, cleaning, maintenance issues, etc., most jurisdictions also have regulatory restrictions that an individual, or business, must follow. You need an entire team of knowledgeable people to be successful. As the vacation rental industry continues to grow the dynamics continue to change, evolve and get harder to understand and the competition continues to increase. One of the most important things about this industry, and the long sustainability of your profit margin, is that you must either stay abreast to these regulations, and the changes that accompany them, or hire a professional that does, not knowing, or not following the rules may subject you to substantial and significant fines and penalties that can quickly eat up your profit margin. 

As a Licensed Realtor and Nationally Certified Resort and Second Home Property Specialist, it's my job to know the rules and regulations, as well as how those regulations evolve and change. With the signing of SB 1350 in 2016 by Arizona Governor Doug Ducey, Arizona has become one of the most vacation rental friendly states in the country for individuals and businesses seeking an opportunity to develop a passive income from a second or vacation home. However, it too has rules that must be followed or the penalties can be steep.

Whether your a seasoned investor, or just looking to make a few extra bucks on a second home I assure you that my passion and expertise in the industry will impress you. With a proven track record of highly satisfied vacation rental clients, I place all my experience and professional resources in line with managing your home to achieve the greatest return on investment, while overseeing every aspects of your home as though it was one of my own.

Property management, in its broadest terms, is the operation, control and oversight of real estate. However, there are many facets to vacation home property management that many new investors and tenants don’t realize. Many look at property management as simply properly screening or testing an applicant's credit, criminal history, rental history, ability to pay the rent and minimizing vacancies, as well as broadly maintaining the property and making sure it’s kept in proper working order. Although these aspects are important, they’re certainly not all encompassing. We know it’s much, much more.

Quality

As a Licensed Real Estate agent and Nationally designated Certified Vacation Home Specialist associated with one of the largest property management companies in Arizona, we’re equipped to provide the expertise and range of services necessary to protect the owner from numerous liability issues and successfully compete for exceptional tenants. I offer full service vacation property management services for exceptional homes throughout Arizona and specialize in all aspects from start to finish. My network consists of professional quality resources including experienced agents and  property managers, licensed general contractors, responsive maintenance personnel, housekeepers, handymen, landscapers and more. I understands that today’s tenants are far more aware of Landlord Tenant laws and ready to demand compensatory satisfaction for mistakes made by landlords, but whether you’re a new investor, an experienced investor, or simply a homeowner looking to generate a little extra income off a second, or vacation home, we’re here to help and provide the professional knowledge to help ensure your protected.

Experience

With years of experience we've come to know that vacation rental management involves thorough tenant screenings, comprehensive rental agreement preparation and execution, rent collection, maintenance, inspections, and eviction protection but we also know that it involves the processes, systems and manpower required not only to accept rent using legal documents approved for the area in which the property is located, but also accurately managing the accounts and finances of the real estate properties. Our professional full time account managers utilize the most current technologies to manage and maintain the necessary records for tax and legal purposes and special attention is regularly given to the most current revision of Arizona Short term rental regulations. In depth knowledge of these regulations are exercised throughout the rental and management process.

Exposure

We utilizes a network of resources and both conventional and unconventional ways to maximize your properties exposure to attract the highest caliber tenants, all at no additional cost to you. We have a history of proven success and enjoy capturing those tenants who frequently wait in line to rent many of our vacation properties. We maintain a continual online presence of your property utilizing a variety of tools including listings on the MLS, your properties own website (developed by Hidden Hideaways, LLC) and several of the most visited websites worldwide.

In today’s rental market, the growing operational demands and strict governmental regulations dictate that the successful investment property owner do more than simply “keep the place up” and collect rent. Our experience and knowledge of these continually changing requirements places us in a position to properly manage and get the most out of your real estate investments. 

Do you have a second home that you want professionally managed?  I'd be more than happy to meet with you for a FREE, NO Obligation one-on-one consultation regarding your property, your specific situation, your goals and how I can assist you in determining your properties vacation rental potential. to discuss your specific needs in more detail and find out how I can help you generate the greatest ROI (Return On Investment)

Contact me today!

Still Looking To Manage Your Own Property?

There are many good reasons to manage your own rental properties, but being a landlord isn't without it's challenges. For every reason you can think of regarding why you “should” there’s at least one that explains why you “shouldn’t”. Let's face it, sometimes being a property manager is a tough job. There are a number of landlords who choose to manage their own property, which has it's pros and cons but if you're thinking of managing your own rental, there are some things you should consider.

The number one reason why people want to manage their own properties is because they believe it will save them a significant amount of money, but when you look at the cost of employing a professional property manager, it's certainly a good value. The costs of a property manager are often more than offset by the additional rent an experienced manager can get you, better deals on repairs and of course, the cost of your expenses and time.

Example: When I initially started managing my first vacation rental home, the first year I spent 60-80 hours a week on marketing, advertising, cleaning, repairing, answering guest inquiries, doing background checks, solving problems and the list goes on and on. I ended up learning along the way about the “business” and what it takes to truly succeed, but that came with a VERY steep price tag. Not only was my time with my family eclipsed by the time I had to commit to the rental, my well-paying full time job suffered and financially it cost me way more than expected. Looking back now, I wish I’d have hired a property manager handle those things. 

It takes a special type of person to succeed in this difficult industry. When deciding if you want to manage your own property here are some things to consider:

Personality and professional distance

The first question you need to ask yourself is do you have the personality type that can keep a strict business relationship with your tenant? If the tenant is late paying the rent, or damage is found during an inspection, or if a tenant wants to break their lease without the required notice, can you assert your legal rights unemotionally? Being a DIY landlord also means dealing with difficult issues - such as making rent demands, evicting tenants and claiming bond monies. These things aren’t always easy to do, but unfortunately have to be done when dealing with rental properties. As a DIY landlord, you need to ensure that you are going to be able to do these things legally, without getting emotionally involved in the situation.

Availability and time

Be aware that managing a property can be time consuming, particularly if you aren't sure what you are doing. If you’re considering being a DIY landlord, you need to ensure that you are always readily accessible and have the time to deal with issues when they arise. If you’re not available you’ll need to have someone who is, which can be costly. It can also be frustrating if you’re working another job or are on vacation when a property needs to be leased, when the tenant doesn't pay their rent or if urgent maintenance work is required.

Rental appraisal and rent increases

If you are going to become a DIY landlord, you need to commit to constantly keeping track and up to date on what’s happening in your area. The nightly, weekly or monthly amount that you rent your property for needs to be in line with the market where your home is located, but also provide enough to cover your expenses and gain a solid return on your investment. You'll also need to make sure you only increase rents in line with the terms of the lease and the legislation in your state.

Rent collection

Of course rent collection is one of the most important property management tasks. However, it is extremely important that a clear process be followed in this regard and that the full rent amount is paid on the specified date. If you are not clear on this you may find your tenant is constantly late or the money is trickled to you in multiple payments over the course of a rent period. Arizona Realty & Retreats uses a secured online payment system to manage each rental property, thus providing an easy way for tenants to pay their rent on time, day or night. One of the great things about this form of payment is that if there is no money in the tenant's account, we know about it right away and can immediately deal with it. With other forms of payment, it may be 3-7 days before you know there is a problem.

Legal and legislation

In most states there are numerous legal and legislative structures in place to protect both tenant and landlord. If you are a DIY landlord you need to get up to speed with the relevant Acts and legislation. As a DIY landlord, you will also need to obtain access to standard agreements and documents such as lease agreements and forms approved by the state that are usually reserved for licensed real estate agents. It is not uncommon that disputes involving rental payment, lease conditions, and bond claims to end up in court and the judge will take into consideration whether the landlord has taken the appropriate steps and can provide the appropriate records as evidence that this has occurred.

Example: If you wish to evict the tenant you need to be able to demonstrate that you have provided the required reminders, notices and applications at the correct intervals in order to get the demand you require issued. If you cannot do so, the judge may not provide you with the order you wish, and the tenant will be allowed to stay in the property.

All property lies within certain jurisdictions. Whether it’s an HOA, city, county, state or federal jurisdiction, you must be aware of what is allowed and disallowed, as well as important tax regulations.

Inspections

When you decide to become a property investor, it’s important that you maintain the value of your asset. Apart from getting a good yield, making sure your property asset is looked after is really important. There are certain rules and regulations regarding how many times you can inspect a property per year and how the inspection process should be conducted. As a general rule, an inspection occurs three months after initial occupancy and every six to 12 months thereafter. If you are a DIY landlord, you will need to ensure that you adhere to the legislation in your state regarding inspections, particularly in relation to the frequency, notification and entry process.

Repairs and maintenance

One of the most common traps for DIY landlords is not understanding tenant rights in regards to repairs and maintenance, and in particular repairs deemed as urgent as defined by the relevant legislation. For instance, if there is no hot water or operating toilets, the tenants have the right to have these items attended to urgently at any cost, in most cases they have the right to pay for these to be repaired and claim the money back from the landlord. Therefore, if you’re not available when a tenant tries to contact you, you may have no control over who comes into your property, the quality of work that’s done, or the cost of the repairs. As a DYI property manager, finding trustworthy resources can also be a daunting task. Sometimes you may go through 7 or 8 tradespeople before you find one that works within your scope. It’s also important to understanding that who you employ will have a significant influence on the success of your investments. Do they show up when requested? Do they provide reasonable rates? Do they do quality work? Are they licensed, bonded and insured in case of an accident? Unless you have the time, and abilities to perform all these duties yourself you’ll need to find and manage all these resources. This can be quite overwhelming and should be considered when evaluating a DIY property management plan.

One of the advantages of working with Arizona Realty & Retreats is that we're available to respond to tenant requests 24 hours a day, 7 days a week and employ an extensive network of professionally licensed, bonded and insured contractors, cleaning personal, handyman services, landscapers, maintenance professionals, pest control experts and tradespeople that respond quickly and cost effectively when requested. Because we deal with so many trades, we have better access and control of quality and cost competitiveness. We hold these associates to the highest standards of professionalism and cost effectiveness which can save you hundreds if not thousands of dollars.

Technology, tax and record keeping

If you are going to become a DIY landlord, it is important that you have the appropriate technology and systems to support you. You will need access to the internet, e-mail, mobile phone, a financial reporting system and electronic files for all your record keeping. Another advantage of using Arizona Realty & Retreats is that we will receive, check and pay all of your bills. If there are any estimates of repairs that are beyond what we've established in our property management agreement, we will contact you for approval on such repairs. At the end of each month you will receive a disbursement check and you can always access full transparency of your property transactions through your online owners’ portal. At the end of each year you will receive an End of Year statement detailing all revenue and expenses. More often than not you get to sit back and collect a paycheck each month while all the work is done by a trusted and experienced professional.

Leasing your property

There's a lot involved in leasing your property. Finding new tenants during times of vacancy (preferably someone who will care for the property and pay their rent on time) can be a daunting task for a DYI landlord. From time to time your property will become vacant and you will need to have the resources to get you through while thoroughly evaluating renter applications, background checks and a tenants ability to pay rent on time. Depending on which state you are in, your tenant will be obliged to provide between approximately two and four weeks' notice before vacating. If you are going to lease your own property there are some important steps involved in the leasing process you need to follow!

The Bottom Line

The bottom line is, there are certain times to manage your own properties and times when you need to hire someone to do it for you. If you live down the street from one of your properties, but still don’t want, or have the time or resources to put in the work to manage it smartly, then you should hire a professional like Arizona Realty & Retreats.

If you still feel like this is a task that you can handle on your own, we still recommend meeting with a professional and getting some help with the things that do make the biggest impact on your success. Check out our affiliate company links to the right, They are knowledgeable and reliable resources that can help grow your vacation rental business.

Hidden Hideaways, LLC has been a top notch company for years that has helped DIY landlords establish a solid plan for minimal cost. The company combines top tier service and quality consulting with a unique style of marketing, advertising & promotion to give your vacation rental or small business a solid, professional online presence. Consecutively awarded the "2015 Best of Gilbert Internet Marketing Service" and "2016 Best of Gilbert Internet Marketing Service" Hidden Hideaways, LLC has been honored and recognized for showing the ability to utilize their best practices and implemented programs to generate competitive advantages and long-term value for DIY Property Managers worldwide. We've included a link to their website below.

Hidden Hideaways, LLC