Residential Property For Lease In Phoenix
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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.
To comfortably afford a one-bedroom apartment in Phoenix — that is, to spend no more than the recommended 30% of your income on housing — you need to be making $32.29 an hour. For someone working 40 hours a week, a one-bedroom apartment in Phoenix requires a yearly salary of $67,163.20.
Rental Yields. Arizona offers competitive rental yields, particularly in urban areas. The state's growing population and affordable property prices make it an attractive option for investors.
For example, in California, landlords are prohibited from requiring tenants to provide their social security numbers and are only permitted to use them for specific purposes such as obtaining credit reports or background checks.
Start by noting the basic identifying information: List the date, property address, and tenant details. Proceed room by room: Document each item in every room, including its condition. Be thorough and include all elements like walls, floors, ceilings, fixtures, and any appliances or furniture.
Here's a list of standard fields that you should include in your lease agreement: Tenant information. Include each tenant's full name and contact information. Rental property description. Security deposit. Monthly rent amount. Utilities. Lease term. Policies. Late fees.
How to Fill Out A Rental Application Your Contact Information. Your Social Security Number. Driver's License or State Identification. Current and Past Rental Information. Employment Information and Proof of Income. Personal References. Other Possible Rental Application Requirements.
Rental Applications: 5 Tips to Stand Out and Get Approved Research and Preparation. Start by doing thorough research on the rental market and surrounding communities. Present Rental History. Showcase Financial Stability. Respond Promptly and Professionally. Follow Up.
The most common type of lease contract in residential real estate is Gross Lease. In a gross lease, the tenant pays a fixed amount of rent, and the landlord is responsible for paying all the expenses associated with the property, including property taxes, insurance, and maintenance costs.
Ultimately though it should include the following details: A description of the property. A list of attractive local amenities. List the distinct features that make your property stand out. Whether or not the property is pet-friendly. The rent amount and deposit amount. The utilities, which are included, which aren't.
