Most Phoenix rental statistics have taken a beating due to COVID-19. Real Property Management Phoenix Valley's property owners are weathering the storm pretty well. Our COVID-19 Phoenix rental statistics currently are: 97.8% of our tenants paid April rent on time. Additionally, all of our tenants have confirmed dates they will be paying rent within the month of April. How have we beat the odds? Well, we have an exceptional pool of tenants that have a good chance to keep current in this tough situation. Two key factors in placing good renters are quality tenant placement and a laser focused rent collection process. There are four factors in tenant placement, rental history, credit history, income and job stability. We have found that each of these steps is important and can be tricky. For example, rental history questions need proper phrasing. You also must also be able to navigate around traps that apply to rent verification.
A laser focused rent collection process is crucial. It is important to set rent expectations early and use technology to automate the payment process.
The good news is that there is help if your tenant needs it and this is because the State of Arizona has taken action regarding the Covid-19 Virus and it's effect on the Phoenix rental statistics. On March 24, 2020, AZ Governor Doug Ducey issued an executive order delaying the enforcement of eviction action orders for renters impacted by COVID-19. The order applies to renters who are quarantining due to COVID-19 or are facing economic hardship as a result of the outbreak. It will remain in effect for 120 days. Additionally the rent is still due. The Governor also announced $5 million in new funding to help Arizonans struggling to make rent due to COVID-19
By Lisa Borchard Tuesday, April 7, 2020
Most Phoenix rental statistics have taken a beating due to COVID-19. Real Property Management Phoenix Valley's property owners are weathering the storm pretty well. Our COVID-19 Phoenix rental statistics currently are: 97.8% of our tenants paid April rent on time. Additionally, all of our tenants have confirmed dates they will be paying rent within the month of April. How have we beat the odds? Well, we have an exceptional pool of tenants that have a good chance to keep current in this tough situation. Two key factors in placing good renters are quality tenant placement and a laser focused rent collection process. There are four factors in tenant placement, rental history, credit history, income and job stability. We have found that each of these steps is important and can be tricky. For example, rental history questions need proper phrasing. You also must also be able to navigate around traps that apply to rent verification.
A laser focused rent collection process is crucial. It is important to set rent expectations early and use technology to automate the payment process.
The good news is that there is help if your tenant needs it and this is because the State of Arizona has taken action regarding the Covid-19 Virus and it's effect on the Phoenix rental statistics. On March 24, 2020, AZ Governor Doug Ducey issued an executive order delaying the enforcement of eviction action orders for renters impacted by COVID-19. The order applies to renters who are quarantining due to COVID-19 or are facing economic hardship as a result of the outbreak. It will remain in effect for 120 days. Additionally the rent is still due. The Governor also announced $5 million in new funding to help Arizonans struggling to make rent due to COVID-19
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