Apartment With Leasing In Maricopa
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⃣ Non-Primary Residence (4.1): Used for residential purposes that does not qualify for primary residence and is not used solely as a residential rental.
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.
Maricopa County The average effective tax rate in the county is just 0.64%.
Currently, there is no state or county tax imposed on residential rentals, and the upcoming change to the tax law will eliminate the city TPT.
Renting, especially on a short-term basis, can sometimes come with higher monthly costs due to the increased flexibility it offers the landlord. For instance, a studio apartment for rent on a month-to-month basis might be more expensive per month than the same apartment under a lease agreement.
Apartment lease payments aren't reported to the credit bureaus like monthly mortgage payments are.
Housing (rent or mortgage) should not be more than 1/3 of your income before taxes. If you work full time (40 hours) at $12 per hour, that's $2000 per month, so you shouldn't spend more than $667 per month on housing. That's definitely going to restrict where you can live.
Lifestyle and Flexibility Renting suits those who value the freedom to move on short notice. On the other hand, leasing is better for those seeking a stable, long-term home and are willing to commit to a fixed period.
Yes, property owners in Arizona can manage their own rental properties without a real estate license.
