All Forum Posts by: Tyson Hill

@Nathan Gesner Are you making multiple payments between the 5th and 15th? Or what dictates what date you choose within that window? 

And thank you everyone, this is very helpful information!

Hey gang, just curious what industry standard is or your experience for a PM company sending rent proceed funds? 

@Casey Rolland  Hi Casey, rental tax will always be here in AZ. Where it has spiraled out of control is it was a city tax. Very simple and easy to do. The state decided they want those funds running through them, and that is where things got complicated. To put it simply they are in over their heads. We communicate with them monthly and every time we are being told something different. If you have more specific questions, let me know!

Hi Logan, I live in Gilbert as well and own a PM company. Would be happy to go over your options and help you anyway I can. Best of luck! 

The tax situation is a complete mess right now. The state is taking over the payments effective January 1, 2017 which has been a disaster from our perspective. It was supposed to happen January 1, 2016, and a few weeks before they said "oh wait, never mind, we aren't ready for the change." So not only do we have to fill out a form for the state every month for taxes we are not sending them, we get to do it also for the cities on each individual unit until the state takes over. As a property management company, we spend more time on taxes right now than any other aspect of our business. The state keeps making changes, and to put it simply it has been complete chaos. 

I didn't see anyone mention the changes being made with the state, so some might not even be aware. 

A wise investor once told me, the lower return, is usually the safer return. The home run returns on paper rarely work out that way in reality. 

Ashley, you can't not rent to some one because they are "2.. males" as suggested by this post. Sex is a protected class and that will get you fined big time with the Federal Fair Housing Act. I would highly recommend you reading those laws and make sure you are screening without violating any of those laws. The penalties are steep!

First time renters and first time roommate situation is high risk. There is no guarantee that they will get along living together for the first time. I try to avoid those situations, unless they have lived with one another previously.

Everyone needs to rent for the first time, so what I do is get a parent or someone to co-sign. That minimizes the risk tremendously. Good luck!

 Pretty sure "tattoos" are not a protected class and are not part of the Federal Fair Housing Act. 

But can we just use common sense? Tattoos + great rental history and job....yes please. Tattoos + crappy credit,  job hopping, and shaky rental history...pass! It's really that simple, too much weight put into appearance. 

I've been dealing with tenants a long time. Cut your losses and move on. If you think it will get better before it gets worse, you are mistaken. Almost without fail, every time I allowed a tenant to behave in an unprofessional, hostile manner, it has always ended up getting worse and inevitably resulted in a vacancy. You might as well get it overweight now and get a good tenant in there, especially since the rental market is hot!

Good luck!