For anyone looking to rent or invest in Phoenix, it's key to know the rental prices. The median rent is $1,367, just like last month. Compared to last year, rents have gone down by 3.5%1.
How much can a landlord raise your rent with a new lease or new rental? There is effectively no limit on rental increases, as this authority is preempted by the state under A.R.S. § 33-1329. Therefore, cities and towns are precluded from the imposition of rent control.
The sudden spike in prices is due to the pandemic era extremely low mortgage rates which dramatically increased everyone's purchasing power combined with Phoenix being a major tourist and snowbird destination attracting out of state investors taking advantage of the low interest rates.
End of interactive chart. 257,538 or 44% of the households in Phoenix, AZ are renter-occupied while 333,631 or 56% are owner-occupied.
If you absolutely must send a check, avoid financial mishaps by shipping it through UPS or FedEx so you have a tracking number to ensure it arrives. For landlords, checks aren't the most ideal because there's no way for them to know for sure if it will bounce.
Management then over here in this white box this will be where you write the amount you're payingMoreManagement then over here in this white box this will be where you write the amount you're paying numerically. So for example I'm paying 500. So I'll just write that out.
Essentially, we allow anyone with a smartphone to use the RentCheck app to complete an inspection (move-ins, move-outs, annual, periodic, exterior, maintenance, and pre-acquisition) whether it's the team, contractors, or residents.
So I'll just write that out. Including. You know the decimals for cents. And then this dollars lineMoreSo I'll just write that out. Including. You know the decimals for cents. And then this dollars line is where you're going to actually write out the amount you're paying. So I will put 500.
Residential rental property must be registered with the County Assessor ing to Arizona law (A.R.S. § 33-1902). The intent of this law is to maintain an accurate record of rental properties so that towns, cities and the county can enforce laws about slums and blight in rental properties.
The Quick Reference Now we can compare the unrecoverable costs of renting versus owning, at least as a quick reference. Take the value of the home you are considering, multiply it by 5%, and divide by 12 months. If you can rent for less than that, renting may be a sensible financial decision.