⃣ 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.
Yes, property owners in Arizona can manage their own rental properties without a real estate license.
Every residential rental property owner with taxable rental property is required to obtain an Arizona transaction privilege tax license from the Arizona Department of Revenue for each location where residential rental income is taxable.
Typically, you need to live in a property for at least 12 months before converting it to a rental. This timeframe may vary depending on your mortgage terms and local regulations.
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.
Class 4 property means property owned or controlled by a state agency concerning which there is a provision in the deed that limits the exploration or drilling for oil or gas on the property.
Legal Classes: 3.2 - Primary Residence of a qualified family member. 3.3 Primary Residence also leased or rented to lodgers. 4.1 - Non-Primary Residence. 4.2 - Residential Rental.
⃣ 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.
In addition to the transaction privilege tax licensing requirements, all Arizona counties require residential rental properties to be registered with the County Assessor. There may be penalties and fines for properties not correctly identified or registered as a rental property with the County Assessor.