DOOR LEFT OPENED! IS IT OK I CHANGE THE LOCKS TO SECURE THE PROPERTY?
The number one reason for real estate investors to leave the business is tenant relations. I work with many investors who love to invest in Phoenix real estate. However, they give me the property management side of the business. Why? It is because they would rather pay me $60 per month than deal with the tenants on their own. Personally, I think it is a wise investment. I am better educated about the Arizona Landlord Tenant Act and the overall Phoenix real estate market compared to the real estate investor. Do you really want the tenant to call you in the early morning stating that their toilet does not work?
TOP 5 THINGS TENANTS DO TO DO IT YOURSELF LANDLORDS
- Pay rent late or not at all
- Abandon the property over night
- Trash the property
- Obtain pet on premises without permission from owner
- Re-key property without permission from owner
My investor called me the other day on one of his properties. His handyman was doing work on the property. We evicted the one tenant but they keys were never returned. He called me to see if he could have them change the locks to secure the property. The answer was NO. The tenant had until that day to leave the property abiding by the judgment. I advised the investor to lock the door from the inside. Then, he could change the locks the next day. It is best to abide by the court judgment to the letter or face consequences down the road.
Finally, it is great to have a trusted property manager on the team to maximize profits and minimize losses. Properties R Us only charges $60 per month per door for Phoenix Property Management.
Make the Call, Set the Plan, Do the Deal$!
Feel free to listen to my Radio Show to learn more about the phoenix real estate market, new trends, and the latest opportunities. The Real Estate and Beyond Radio Show Airs every Saturday from Noon-2:00pm on Conservative Newstalk KKNT 960am in Phoenix, Arizona. You can listent to past shows, or stream on-line.