Arizona

Tue
16
Dec
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Reduce Pool Costs In the Winter

There are significant ways to cut down on the operating costs of your semi-public swimming pool whether or not you heat it in the winter. If you do use a heater, you probably are aware of the savings a pool cover can provide. We will talk about that a little later.

If you do not heat your pool, you probably run the pump 24/7 and pay just as much for pool maintenance in the off season as you do during the swim season. There is a new pool cover technology on the market today that allows you to hibernate your pool during the off-season. Hibernating your pool allows you to shut off or drastically reduce your pump running time during the off-season. As long as your chemicals are balanced at the time of hibernation, you can cover your pool and reduce your pump time to an hour a day or less in the off-season.

Thu
13
Nov
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Arizona Rental Housing Journal November 2014

Arizona Rental Housing Journal is published monthly for the apartment owners, multifamily investors, landlords, property managers and other real estate professionals. RHJ is the business journal for the rental housing industry.

Fri
31
Oct
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Industry Review: The Home Depot & ARPOLA Discount Program

Our industry is changing, and technology is one of the drivers of this change. That is why I was interested to read the press release on the new partnership between ARPOLA and The Home Depot. The benefits of this partnership directly affect Rental Housing Journal readers. Specifically, The Home Depot now has a way to treat you – the rental property owner, property manager and service providers on rental property – differently based on how you do business.

The program has three major components:

• Savings specific to three primary times work is being done on rental property – maintenance and repair, rent turns and property improvement/updating. It includes exclusive pricing discounts, special product offers, volume pricing, coupons and even a time and cost saving delivery option.

Mon
06
Oct
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Arizona Rental Housing Journal October 2014

Arizona Rental Housing Journal is published monthly and reaches nearly 11,000 Arizona apartment owners, investors, landlords, property managers and other real estate professionals. RHJ is the business journal for the multifamily and residential property management industries.

 
Tue
16
Sep
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Scottsdale Dominates Up-Scale - New Apartment Construction in Metro Phoenix

The Kasten Long Commercial Group specializes in multifamily brokerage and has been providing apartment market updates for metro Phoenix in quarterly newsletters since 1998. Past issues and detailed market data are available on their web site (www.KLCommercialGroup.com). Within metro Phoenix, at the end of Q2, there were28 projects under construction totaling 7,494 apartments and an additional 67 possible projects totaling 15,950 apartments in the pipeline from initial rezoning to final permitting. Scottsdale represents 24.6% (1,842 u) of the apartments under construction and 25.8% (4,116 u) of the possible additional apartments in the current pipeline. Many of the new projects in Scottsdale are up-scale, four-story, with underground parking and plenty of amenities. Advertised rents are more than $2.00/sf, and this increases with fees for water and common area.

Tue
16
Sep
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Fund your Retirement with Seller Carry Back Financing

Multi-family property owners have several options, to generate passive income in retirement, that are unique to owners of income property. They include placing your residential income property under professional management and forgoing the day to day management duties, effecting a IRC 1031 exchange into a commercial triple net leased property, or taking on the role of a lender by providing seller financing, to the buyers of your income property.

Seller carry back financing is the most popular vehicle active owner/managers of multi-family properties use to fund their retirement. The major benefit is“mailbox money”, which is a monthly check sent electronically or by mail to the seller every month, for a set period of time. The current market interest rate for seller financing is 5.5% to 6.5% interest.

Tue
16
Sep
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My Pet Peeves Could Save You Thousands

I have a few pet peeves relating to owning and operating rental property. One is generic and the others are very specific. These pet peeves come from years of supporting AZREIA and ARPOLA members and seeing the same unnecessary costs, losses and exposure.
Generically, making uninformed decisions about a highly valuable asset (rental property) leads my pet peeve list. It falls in to that old saying, “ignorance of the law is no excuse”. Not knowing the what and how on everything that affects your rental property and its profit/loss consequence should be unacceptable to you. It is NOT okay to stick your head in the sand and hope everything will be alright. Unfortunately, I see this every day especially in the single family rental space. It is beyond me how anyone could ignore easily obtainable information that could possibly prevent huge losses. Or said in a positive way, provide many years of profitable returns with very little stress and worry.

Tue
16
Sep
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RHJ Asks… Kevin Holliday

Rental Housing Journal recently had a brief opportunity to get some great advice from Arizona rental housing expert, Attorney Kevin W. Holliday of Hull, Holliday, & Holliday, PLC.

Q: As an Arizona landlord tenant attorney, if you were to give three pieces of advice to landlords and property managers, what would they be?

Tue
16
Sep
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Crime Free Multi-Housing Class in Tucson

Crime Free Multi-Housing
Class in Tucson

Tucson Property Managers & Owners
Receive Training & Support from the
Tucson Police Department

The Tucson Police Department offers a free of charge crime prevention program for multifamily property managers and owners. Benefits of the program have included reduced exposure to civil liability, lower tenant turnover, lower maintenance and repair costs, and improved personal safety for tenants, landlords and managers.

Tucson Police Department's daylong eight hour course includes crime prevention theory, resident screening, lease agreements, evictions, and effective response to criminal activity. Speakers include officers in the gang and drug units and attorneys. Class participation is encouraged and actual case histories are discussed. The program is designed to be solution orientated.

Tue
16
Sep
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Kasten Long Commercial Group: Q2 2014 Metro Phoenix Apartment Market

The Kasten Long Commercial Group specializes in apartment brokerage in metro Phoenix and has provided detailed updates to apartment owners on the market since 1998. Their agents have brokered more than 1,000 communities with gross sales in excess of 1 billion dollars.
Vacancy Rates Up – 1st Time Since Q4 2010
Vacancy rates for the 2nd quarter for stabilized 50+ multifamily properties increased from 6.5% to 6.8%. This is the first increase in 13 quarters. Vacancy rates for the 50-99 communities decreased 0.02% - but the 100+ increased by 0.36%. Of the 32 metro Phoenix sub-districts surveyed, 20 reported increased vacancy rates. Not included in the overall vacancy rate are 16 recently completed projects (5,725u) in lease-up. Vacancy rates for each sub-district are posted on their web site www.KLCommercialGroup.com.
New Construction Remains Very Strong

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