FAQ

Monthly Management Fees: Our fees are simple. 8% of the gross rent or $85, whichever is greater. Many companies may have lower monthly rates, but nickel and dime you every month for property management services. We are full service and want to make it as simple as possible. 

Leasing Fee: World Class Properties has a leasing fee of ½ one month rent with a minimum of $500.00. The leasing fee pays the real estate commission which is accompanied by putting your property on the MLS and the co-broke fee involved. If your property is currently rented then no fees are incurred.

This is the biggest fear in having a renter! Our team puts all applicants through an extensive credit check, background check, and employment check and past landlord verification. If something looks 'fishy' were going to check into it! It is important to know that if we put the best-qualified tenant into your Phoenix rental property it will definitely minimize the chances of having the property returned in poor condition.

We also have found through many years of experience that a person with good credit will apply that type of responsibility to other areas of their life hence, less chance of them damaging your property. We have also found that quarterly inspections of the property help with preventative damages!

Rent is due from the tenant on the 1st day of the month. After World Class receives the rent from the tenant, the rent is then used to pay any bills including the management fee or maintenance for that particular month. Once that is completed, the owner proceeds are directly deposited into the owner’s personal account, typically around the 12th-15th of each month. At the same time, the owner will be able to access online owner statements to review.

Yes. You will want to leave $250 in your Property Management account for general repairs. 

Yes. Depending on the cost of the repair and the emergency behind it, as per our contract will contact the owner for all repairs that may exceed $250 in cost. It has been our policy to contact the owner for all repairs and costs involved even if it is under the $250 cost; this reduces questions and problems that may arise.

Never. World Class has full authority to sign a lease on behalf of the owner once the Residential Property Management Contract is signed. The tenant's lease on the property is usually for one-year minimum unless the owner requests otherwise. A one-year lease is standard in the industry.

The management contract is established for one year. We are interested in being your property manager for as long as you use your property as an investment tool. You will receive a renewal reminder prior to the end of your PM term. Therefore, we desire to produce the best service and care for your investment while under contract with us.

World Class Properties advertises through many different resources. Those resources include Rentals.com, Hotpads.com, and signage at the property, Realtors in the Industry, Craigslist, Trulia, and Zillow. Being that are complemented by a full Real Estate Sales division, we are able to provide rental housing for those people in future need of a home. Currently, we are advertising on all top rental websites!

Optional Multiple Listing Service and Realtor.com fees apply.

Maintaining your home and its investment value is a priority for World Class Properties. Any service needed for your home can be handled by our crew of contractors and technicians. However, if you have a specific vendor you would like us to use, we will be happy to do so. In some cases, you may want to utilize a home warranty company. These service contracts can benefit an owner by stabilizing maintenance costs over a one-year period. The warranty contract is often included in the purchase of an existing home.

The tenant is responsible for all of the above based on their lease agreement. Some owners elect to continue to have the yard maintained at their own expense or have a quarterly service to make sure it always stays in top condition.

Vacancy rates can vary significantly based on your home's amenities, condition, and pricing. You can rely on our expertise to help you choose the best price at which to market your home. We then put our specialized leasing crew to work to lease your home to a qualified tenant as soon as possible.

As an owner, you can drive by the house as often as you like, however, we must give the tenant a 48-hour notice before we can enter the property.

1. Call the office and set an appointment with a manager to do a walk-through with you to determine rentability and the monthly rental rate.

2. Read over and complete the management agreement.

3. Make arrangements for keys, remotes, etc. to be delivered to the office or our property manager will be happy to get them at the property.

4. Determine a rent-ready date so leasing can start!

5. Property will need to be cleaned and made ready to rent as soon as vacated. Owners can have World Class Properties make arrangements for lawn or pool service while the property is vacant.

From $125.00 - $200.00 to clean the house and approximately .15 per sq. foot for carpet cleaning and if you ask for a quote for the service we do not charge a fee. *Prices are approximate only

Each city has a tax that is applied to rents received. The tenant pays the tax in addition to their monthly rent.

You will receive a 1099 at the end of the year that includes a full breakdown of the Profit and Loss on your account.

In order to maximize our leasing effectiveness, we have a specific leasing division. Available seven days a week these real estate agents receive all of our rental requests and show tenants the homes that best fit their needs. Other agents may view our homes with their clients by using secure lockboxes placed on each home.

Unfortunately, we often hear of horror stories about real estate management even though these events are rare. We are very knowledgeable in the laws regarding the Arizona Landlord Tenant Act, and we follow strict guidelines in evicting a tenant. Most evictions are for non-payment of rent and can be completed within 30 days. Although the tenant will be held responsible for the legal costs, the owner will be initially billed for filing fees and attorney’s costs. These bills, along with back rent and damages to the property will be reimbursed from the tenant's deposit excess. Any excess bills will be sent to a collection company

Monthly HOA fees are paid for by the owner of the home and the tenant should never be responsible for this commitment. The tenant is responsible for HOA violations like trash cans left-out; weed control, incorrect parking, etc. If the tenant is fined, the fine will go to the owner's account and the tenant will be billed for the violation. The owner of the home is responsible for all maintenance costs on the property unless it falls under the following circumstances:

1. The tenant causes the damage via neglect or

2. It is in the World Class lease, that the tenant is responsible for ALL minor repairs like switching out light bulbs, toilet stoppage, etc. This is done to encourage the tenants to take care of the small items at the house. We strive to encourage our tenants to be more than residents in the property and to become caregivers of the home that they are residing in.Monthly HOA fees are paid for by the owner of the home and the tenant should never be responsible for this commitment. The tenant is responsible for HOA violations like trash cans left-out; weed control, incorrect parking, etc. If the tenant is fined, the fine will go to the owner's account and the tenant will be billed for the violation. The owner of the home is responsible for all maintenance costs on the property unless it falls under the following circumstances:

1. The tenant causes the damage via neglect or

2. It is in the World Class lease, that the tenant is responsible for ALL minor repairs like switching out light bulbs, toilet stoppage, etc. This is done to encourage the tenants to take care of the small items at the house. We strive to encourage our tenants to be more than residents in the property and to become caregivers of the home that they are residing in.1. The tenant causes the damage via neglect or

2. It is in the World Class lease, that the tenant is responsible for ALL minor repairs like switching out light bulbs, toilet stoppage, etc. This is done to encourage the tenants to take care of the small items at the house. We strive to encourage our tenants to be more than residents in the property and to become caregivers of the home that they are residing in. do eiusmod tempor incididunt ut labore et dolore magna aliqua.

A swimming pool is REALLY in demand in the summertime and if affordable is encouraged to own as an investor. World Class has all of its tenants that rent homes with pools sign an addendum that releases the owner and the World Class from all liability regarding pool safety. We also have all the appropriate documents in the tenant's lease package that the State of Arizona requires that we give the tenant regarding pools and swimming. Insurance – It is always recommended to our owners that they carry at least a $1,000,000 umbrella policy to cover any possible liability concerning their investment homes. To get pool safety tips you can go to this website - AAP Pool Safety for Children

By clicking the link below this sentence will allow you to have direct access via the Internet to the Arizona Landlord Tenant Act - 

                                                                           https://housing.az.gov/general-public/landlord-and-tenant-act

The owner of the home does get ALL the important paperwork for their property, including the lease and maintenance bills. For convenience to the owner, all items are scanned and uploaded to for their review which is accessible 24 hours a day. www.worldclassproperties411.com

The tenant pays for all utilities while they occupy the home. If the home is scheduled to become vacant (in between tenants), World Class Property can schedule the utilities in the owner’s name to keep the property with utilities 'ON' at all times. Keeping the utilities on will allow the owner's landscaping and pool to be constantly protected and never lapse. It is important that your Arizona rental home always is in the best possible condition to attract good renters.

We have stated in our lease that NO pets or smoking will be allowed in the homes unless otherwise approved by the owner. If an owner is debating about allowing pets or smoking, we suggest that they not allow them, however, it should be understood that in today’s market allowing a pet will definitely open the door to tenant prospects. Pets usually have an extra $20 per pet - pet rent if they are accepted. If a tenant has an assistive animal due to the tenant being legally handicapped then the owner MUST allow the assistive animal with no deposits required. By Federal law, the animal is considered another human.

We typically follow the local fire department code, which permits 2 people per bedroom. Tempe, Arizona has a law that does not allow any more than 3 unrelated people to occupy a home. This is due to the heavy student population in the area. Students are not a protected class.

In today's ever-changing Arizona rental market, we have found that the appliances are sometimes a deciding factor for the tenant when renting. Therefore, when you enter your home into our Property Management service, we highly encourage the owner to include all appliances which would include a refrigerator, washer, and dryer. From our experience, we have found that this small investment of appliances will definitely help your Arizona rental home rent much faster. If you need assistance purchasing appliances at a better than normal rate, we can assist you with that as well.

Yes! We can take over the property management of your Arizona home at any time. Unless the lease is month to month, the current lease will remain completely the same. If the current lease is month to month, it would be advisable to change your current lease to a World Class Properties lease. There is no charge to open your account.

Our lease does recommend to the tenant that they do insure their personal possessions as the owner is not liable.

Yes, every home that is used as rental property MUST be registered with the Maricopa County Assessor’s Office. We relieve you of this burden and contact the State on an annual basis and update your file.

If the tenant causes a violation of the Rules of the Association, we request that the owner fax the violation to our office immediately. Once we receive the violation, we contact the tenant and send them a copy of the notice and a letter that explains what needs to be done to repair the violation. Depending on the violation, we will inspect the property to assure the violation is repaired. If a second violation occurs and the owner is fined by the HOA, then the tenant will be billed on their account for the violation. Note: The owner will pay the violation so a lien is not placed against the home by the HOA. If the tenant fails to reimburse the owner for the violation, then the fee will be deducted from the tenant’s security deposit at the time of move-out.

World Class Properties will usually inspect the home within 36 hours of vacating. A FULL inspection report will be written by the maintenance department. A call is placed to the owner of the home to review the findings of the inspection report. Once the owner reviews the findings, decisions will be made as to what work will be accomplished to refurbish the home to rent ready condition. Typically, the home will be rent ready within 5 days of it vacating.

If the tenant should terminate their lease prior to the ending date of their contract or the agreed-upon renewal date, the following option can be taken. The tenant shall pay an amount equal to TWO (2) Months Full Rent as an "Early Lease Termination Fee”. This amount will be due at the time the thirty (30) day notice is given and no portion of the tenant's deposits shall be used towards the "Early Lease Termination Fee”. The tenant shall still be responsible for rent through the end of the lease OR until the property is re-rented.

TERMS:

1. Fee must be paid in certified fund only.

2. A full 30-day notice must be given PRIOR to move out and the fees do not offset rent in any way, nor can the deposit be used for fees.

3. Tenant must deliver keys to World Class Properties office upon termination of the 30-day notice.

4. The "Early Lease Termination Fee” will be considered additional rent.

5. It is understood that a breach of these terms will constitute a "skip” on the part of the tenant and collection of the entire lease and damages, including attorney fees and homeowner marketing fees will be strictly enforced.

Typically, when a tenant moves out, a shortlist of items must occur before the next tenant. We always re-key the property no matter what to reduce the owner’s liability. We will typically need to touch-up paint, clean, install new air filters, check toilet stoppers, light bulbs, check all appliances, sprinkler systems and assure the yard is presentable for a new tenant.

We are very detailed when it comes to tenants. We require that all prospective tenants are put through a detailed credit check, including criminal background, rental history, and current employment verification. The leasing department will contact you and review the tenant’s information. The decision is yours keeping in mind all Federal Fair Housing Rules and Regulations will be strictly adhered to. Your involvement in choosing the tenant will allow you to be an active investor for tax purposes.