Property Management

Landlords and tenants in Arizona – Every Arizona landlord and tenants should set terms regarding maintenance and repairs for the rental property in tenancy. Here are basic guidelines for landlords and tenants of maintenance and repairs.

A. The landlord shall:
1. Comply with the requirements of applicable building codes materially affecting health and safety.
2. Make all repairs and do whatever is necessary to put and keep the premises in a fit and habitable condition.
3. Keep all common areas of the premises in a clean and safe condition.
4. Maintain in good and safe working order and condition all electrical, plumbing, sanitary, heating, ventilating, air-conditioning and other facilities and appliances, including elevators, supplied or required to be supplied by him.
5. Provide and maintain appropriate receptacles and conveniences for the removal of ashes, garbage, rubbish and other waste incidental to the occupancy of the dwelling unit and arrange for their removal.
6. Supply running water and reasonable amounts of hot water at all times, reasonable heat and reasonable air-conditioning or cooling where such units are installed and offered, when required by seasonal weather conditions, except where the building that includes the dwelling unit is not required by law to be equipped for that purpose or the dwelling unit is so constructed that heat, air-conditioning, cooling or hot water is generated by an installation within the exclusive control of the tenant and supplied by a direct public utility connection.

B. If the duty imposed by subsection A, paragraph 1 of this section is greater than any duty imposed by any other paragraph of this section, the landlord’s duty shall be determined by reference to that paragraph.

C. The landlord and tenant of a single family residence may agree in writing, supported by adequate consideration, that the tenant perform the landlord’s duties specified in subsection A, paragraphs 5 and 6 of this section, and also specified repairs, maintenance tasks, alterations and remodeling, but only if the transaction is entered into in good faith, not for the purpose of evading the obligations of the landlord and the work is not necessary to cure noncompliance with subsection A, paragraphs 1 and 2 of this section.

D. The landlord and tenant of any dwelling unit other than a single family residence may agree that the tenant is to perform specified repairs, maintenance tasks, alterations or remodeling only if:
1. The agreement of the parties is entered into in good faith and not for the purpose of evading the obligations of the landlord and is set forth in a separate writing signed by the parties and supported by adequate consideration.
2. The work is not necessary to cure noncompliance with subsection A, paragraphs 1 and 2 of this section. 3. The agreement does not diminish or affect the obligation of the landlord to other tenants in the premises.

Source: www.azsos.gov/public_services/…landlord_tenant_act/residential.pdf

A significant feature of the HECM is that it is insured under the government’s Federal Housing Administration (FHA) insurance program. This program ensures that you will receive all payments due to you as long as you live in your home. It also ensures that your lender will receive full repayment of your loan balance, even if it is greater than the value of your property. The FHA insurance premiums that you pay as a HECM borrower create a reserve fund to cover any losses that might occur.

The FHA insurance on HECMs also protects borrowers and lenders against the risk that the loan balance might, at some time, exceed the value of the home. This means that as long as you continue to occupy your property as your principal residence, you cannot be forced to sell or vacate your home — even if the loan balance exceeds the value of your home or if the fixed term over which you received your monthly payments has expired. In addition, as a HECM borrower, you or your estate will never owe more than your loan balance or the value of your property — whichever is lower — and no assets other than your home must be used to repay your debt, because the FHA insurance covers any further financial obligation to the lender.

FHA insurance also protects you against the possibility of lender default. Should your lender fail to make payments to you as agreed in the loan, the FHA will continue making loan advances directly to you.

Keep Properties Safe during the Holidays

November and December are the months of festivals with lots of celebration with family as well as lots of travelling. This means as residents travel and enjoy festivals their apartments are most likely to remain empty. Most residents take precautions and responsibility for the apartment when travelling property managers can provide them some guidance to make extra sure that their apartments remain safe as they enjoy the spirits of holidays and festivals with their families and relatives.
A sheet containing helpful tips and guidance on keeping the property would be most helpful. Below are some tips which property managers can put in the sheet meant for improving the security of a tenant’s rental.
• Tenants must leave the lights on (on timer) because most of the burglars target the homes which are in dark.
• For the time being stop the delivery of newspapers. Piles of newspapers outside the door will tell everyone that no one is at home.
• Tenants who live in a multi-unit housing must make sure to inform the resident manager about their travelling plan because this will help them in keeping an eye on any suspicious activity if it occurs.
• Don’t forget to lock all the windows and doors (including garage door). It is important because many burglaries take place via garage door. Back and side windows as they are hidden from the street view are also used as an entry point for the house.
For travelling tenants, burglars are the main concern, but they should not be their only concern. It is also important that tenants check all the appliances and make sure that they are switched off and unplugged. Provide residents with simple and effective suggestions and precautions as this will help them in keeping the properties safe and their minds relaxed.

Ready your Properties for the Winter Season

Extreme winter temperature and winds can be very harmful for the properties. It is therefore necessary for property managers to take the necessary steps in order to prevent the properties for the wrath of the winter season.

Below is a small list which you can use as a to-do list in order to prepare your properties for the upcoming winter season.

Keep the property hot

Ask your tenants to maintain the temperature of minimum 55 Fahrenheit if they are going out on a vacation. This will prevent the pipes from bursting due to extreme cold temperatures.

HVAC inspection

Get the heating and air-conditioning systems of the unit inspected in order to make sure that they are running efficiently. Check filters and replace them immediately if they need replacement.

Take care of the pipes

Don’t forget to drain the outdoor pipes completely. This will prevent them from freezing in sub-zero temperature. Another security measure can be to cover the exposed part of the pipes with inexpensive foam pipe insulation.

Take care of the cracks

Inspect the edges of the doors, windows and exterior of the walls for the gaps and cracks. From such cracks and gaps heat escapes which leads to high energy bills.

Roof inspection

Be extra vigilant of the broken roof and chimney which in storms can come loose. Also, inspect the gutters to make sure that they are not blocked or anything. Blocked gutters are responsible for snow dams and leaks in ceilings which can cause some major trouble during the winter season.

Remove falling branches

Take a look at trees and remove any weak branches or trees. Such branches and trees can fall due to high winds or snow accumulation which can cause damage to person or property alike.

Clean chimneys

If your property enjoys the luxury of wood burning chimney then it is essential to call in a professional in order to get the chimney clean and inspect it for any possible signs of damage and obstruction.

This was just a basic list for preparing properties for the winter season. Depending upon the age and condition of the property there may be other steps which one must take in order to prevent the properties in the winter season.