PHOENIX, AZ. – Are you searching for Phoenix Property Management tips because you’re thinking about renting your property but are concerned that they the tenants might not be able to pay the rent each month? If so, the easiest way to solve this problem and have confidence that your renters will be able to pay their rent on time without any issues is to focus on their income, credit worthiness and rental history.
Learn More about a Tenants Source of Income
Another important aspect of Phoenix Property Management is that during the process of reviewing applications from Phoenix Renters, you should be considering how much income they bring home every month. At GoldenWest Management we believe in two and a half times (2.5 x) the rent, not three times the rent, as is common with other property management companies when they are reviewing a prospective tenant's application.
What If Their Credit Is Not Verifiable?
If a prospective tenant's income is not verifiable, but they do have sufficient credit, our property management team will consider them to be qualified if they have six times the rent (6 x rent) in bank reserves
Rental history is important as well, but only if the review is from a licensed management company and not a friend or relative. We also accept rental history from realtors as well, but we with most property management companies we prefer to receive a potential tenant’s rental history from property managers.
Background Checks Will Save You Time and Money
Sadly, many owners make the mistake of renting to Phoenix Renters who don’t have the right credit score or income because they failed to take the time to do background checks on an applicant before renting to them.
Thanks to the Internet you can easily do background checks on Phoenix Renters online and know if a tenant is qualified in 24 hours or less so it literally pays to get tenants screening done before deciding to rent to a tenant.
What Makes GoldenWest Different Than Other Property Management Companies?
At GoldenWest we literally go the “extra mile” to ensure that the most qualified tenants are chosen for our owner client’s rental properties,
When considering a potential renter our managers must follow this process:
- Review rental history.
- Confirm that all information on the application is filled out.
- Verify job history, credit, income requirements, and proof of income (2.5x rent required) must be met/verified.
- Our managers must also confirm if there is a disclosure of criminal or eviction history and verify with reports.
After an application is thoroughly reviewed and the prospective renter is found to be a “borderline” applicant, our manager must ask the applicant for 1.5x or 1.25x deposit, require a guarantor or co-signor, and finally notify the owner about the Sub-A rated tenant.
After our manager has completed this process, the application process is still not done because our administrators step in to do the following:
- Review the application.
- Confirm if there are multiple applicants
- Verify if the price listed on the top of the application reflects the price listed on our website.
- And more!
Get Phoenix Property Management Here
Owning and managing Phoenix Rental Properties yourself can be very time-consuming but you can save the time, money and hassle of managing those rental properties yourself when you hire our Phoenix Property Management company.
Learn more about the property management services we can offer you by calling us at (602) 765-4750 or click here to connect with us online.