Apartment For Lease Near Me In Phoenix
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The lessor typically requires a signed credit application with your name, contact information, and employment details. The leasing institution will also ask for your driver's license and proof of auto insurance.
A rental application must be signed and processed on all prospective occupants 18 years of age or older. All prospective Tenants will be qualified on the following five (5) criteria: 1) Income/employment 2) Credit 3) Rental history 4) Criminal history and 5) Pets.
The combined average credit score of all Applicants must be equal or greater than 600. Co-signors will not be accepted. No credit history or a credit score of NA will require a copy of the applicant's social security card and security deposits in the amount of one and a half times the monthly rent.
The lowest rental rates are usually found between October and April, particularly right after the December holiday season. Fewer people are interested in moving—the weather's bad, schools are in session, etc. So individuals renting between the months of December and March typically find the best rental bargains.
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.
TUCSON, AZ (November 1, 2024) -- The Apartment List November 2024 Rent Report for Tucson, AZ, reports that the overall median rent in the city stands at $1,089, after falling 0.7% last month.
Key Takeaways The median rent in Phoenix is $1,367 as of July 20241. One-bedroom apartments have an average rent of $1,1721. Two-bedroom apartments average $1,3971. Year-over-year, Phoenix has seen a 3.5% decrease in average rent1.
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.
Consider a Lease Co-Signer or Guarantor While we live in the land of entrepreneurs, pulling yourself up by your bootstraps, and “can-do” attitudes, it's okay to ask for help. A guarantor or co-signer on a lease for a rental space will often allow those who cannot provide proof of income with an opportunity to rent.
As a rule of thumb, your renter's income should be 40 times your rent, which is basically the same as 30% of their total salary.
