This will depend on a number of factors. When you work with our property management company in Phoenix, we can help you calculate an appropriate rate to charge. In the meantime, here is a general guide to give you an idea: 

• Compare your rental to other houses for rent in the area. Look for properties with similar square footage, number of bedrooms/bathrooms, outdoor space, and features. This information can take some digging, but is the most informative about what renters will pay in your area. 
• Contact an appraiser. If your property has not been recently appraised, you can use this as an opportunity to get an accurate value for your house. This can give you a clearer picture of how much you could charge for rent. 
• Ask neighbors, family, and friends. If you have anyone in the area who you know rents, you can ask them what their rental rate is.

You have your choice of property management companies in Phoenix, so you might wonder how you pick. First, you will want to reflect on what exactly it is you want from your property manager. Are you looking for someone who will simply collect rent checks for you, or are you interested in a full-service company? Some companies are very limited in their scope, while others, like Balboa Property Management, are able to offer virtually any service you could think of. In addition, make sure to do your research. Browse websites and ask around to make sure you have a full understanding of the reputation of the company before you work with them. Next, make sure that the property management company is fully licensed and credentialed, and that they have all of the proper qualifications to handle your accounting information. Finally, have a clear idea of pricing structures. Your property management company should be completely transparent about the fees associated with their services.

Your content goes here. Edit or remove this text inline or in the module Content settings. You can also style every aspect of this content in the module Design settings and even apply custom CSS to this text in the module Advanced settings.

Renting out a single family home is a fantastic opportunity for income here in Arizona. However, there is much more that goes into than most people realize. If you decide to rent out your residential property, you will first need to make sure that it is legally rentable. In addition, your home needs to be in good working order, with updated appliances, sound construction, and clean and presentable conditions. You will also need to create a budget around all the costs associated with your rental, which include the mortgage, utilities, and room for any repairs that may come up. You will need a clear picture of the current market rates so you can offer your property for rent at a competitive rate (while still covering your maintenance costs). 

Once rent is set, you will have to market your listing and then give tours to prospective tenants. You will need a written application to give interested parties, then you will need to run background checks, and credit and employment references. After selecting a tenant, you will need a lease for everyone to sign that explicitly states all of the terms of the rental agreement, including security deposit, term of lease, and any rules for use of the property. In addition, ensuring that the property is appropriately insured, all paperwork and tax documents are in order, and that the property meets all state and federal regulations. Of course, there is also the responsibility of handling any required maintenance, collecting rent, and finding new tenants once the property is vacated. 

Clearly, renting out your home can take a lot of work. When you hire us, we can take on all of this for you, so you don’t have to spend nearly as much time or energy into managing your property.

Yes! It’s typical for bad renters to specifically target owner-managed rentals because there is usually less scrutiny in the application process. They know that property management companies will have the resources and experience to know the telltale signs of a bad renter, so they focus on owners to try to skate past. Without the ability to specifically market to qualified tenants, owners often end up settling, which never turns out well. One of the biggest advantages of working with Balboa Property Management is that we are able to use our real estate connections in the area to find quality tenants for your single family home rental. Not only can we market your property well, attracting applicants, we can screen those applicants for you, ensuring they are the type of people who will treat your property with respect. At Balboa, we are so confident in our abilities to find quality tenants, we offer a 10-month tenant guarantee!

Absolutely. Property managers have the connections necessary to find experienced and trustworthy contractors for the various maintenance needs of a property. From groundskeeping to janitorial duties to security, we have plenty of people on our contacts list who can help you maintain your property for your clients.

Yes! Here are Balboa Property Management, we are happy to help you rent out a property from step one: finding a home to rent! As real estate brokers, we have the insider knowledge you need to find a single family home that is perfect for you to rent out for supplemental income. We would love to help you on the journey to become a rental property owner. If you’re interested in our assistance, please reach out today!