Finding a Property Manager in Scottsdale for your Secondary Home
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Managing a second home in Arizona can be a challenge. Having a home in a vacation location is nice to enjoy, but when you are not at home full-time, the climate, environment, critters, and other elements can wreak havoc on your property. This guide will help you find the best property manager in Scottsdale.
Why it matters: According to multiple insurance companies, over 90 percent of claims are from hail, lightning, fire, or water damage. We have seen that many of these damages are preventable if the homeowner was present in the home or they had a quality property manager.
A loss often costs more than the actual dollar amount to repair the damage. There may be a period when the home is unusable due to remediation and reconstruction. Issues such as mold can reduce the resale value of a home and should be addressed quickly. It is also increasingly common that contractors are in short supply, and it might take months to resolve your issue.
Don’t be tempted to leave an unoccupied home for months without having someone responsible look after it. An empty home spells trouble, and so many things can go wrong. Unfortunately, our real estate business has allowed us to witness many homes that have suffered neglect when the owners were not home.
Is your Scottsdale Property Manager Qualified?
A good property manager is easily worth the cost, but finding a good one is not easy. By law, Arizona property managers must possess an active real estate license, but many do not. Often the companies are run by retirees or friendly neighbors. Even if you go in the direction of an unlicensed company, here are a few questions you should ask:
- Do they have a checklist they use, and do they send a copy along with pictures of the home?
- What is the service fee, and do they add a percentage to every service or contractor used or receive a “referral fee” from the service provider? If so, this can create a biased or favored alliance between the property manager and the vendors they choose and may not serve your best interest.
- Do they provide pool maintenance and pest control services or outsource them to licensed professionals?
- Do they inspect the home themself or use another employee? If it’s another employee, what are their qualifications?
- Are they licensed, bonded, and insured? If they are, ask to see copies of the policy and to be added as an additional insured.
- Finally, read the management agreement in detail, as this contract will govern the relationship and could limit the damages, even if the manager is negligent.
The Bottom Line: We sell many multimillion-dollar homes every year. We are often surprised by the number of buyers and sellers that are successful in business but forget to take some basic steps to protect one of their most valuable assets by hiring a property manager in Scottsdale.