NSP Property Management
During the recession in 2008, over $9.2 Billion dollars were lost lost to over 28 million homeowners. After the 2008 recession, there were a lot of residential properties on the market in the United States, and especially Arizona. This surplus in residential inventory led many people to invest in residential properties in the hopes of creating income. Across the country, more than 7 million people consider themselves real estate investors and the majority live in the Southwestern United States.
With Arizona’s affordable cost of living, it has become a hotbed for investors to invest in residential real estate. As a phenomenal source of direct and residual income, residential rentals have become more and more prevalent around the country, but especially in Arizona.
With the increase in residential rentals, the management of these properties has become an industry in and of itself. Because there are elevated duties that residential landlords must comply with, property owners are finding that it makes more sense to employ professional property managers. A skilled, knowledgeable, and trustworthy property management company can help both the landlord and the tenant find the perfect fit. By emphasizing communication and transparency, a property management company will protect the landlord’s interest while ensuring that the tenant’s rights are honored.