Long Term Lease With In Phoenix
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Effective January 1, 2025, Arizona property owners will no longer be required to collect and remit city Transaction Privilege Tax (TPT) on residential rental income for long-term stays of 30 consecutive days or more.
Arizona's current minimum wage sits at $12.80. The average Arizonan needs to earn an hourly wage of $23.44 in order to afford a two-bedroom apartment. That's an increase of $1.14 from last year. For a one-bedroom rental, you would need to earn at least $19.13.
In the law of several US states, a 99-year lease will always be the longest possible contract for realty by statute, but many states have enacted shorter terms and some allow infinite terms.
There is no law regulating what kind of advance notice, if any, is required to stay on or vacate when the lease ends. On occasion a lease will state that it automatically renews unless either party gives notice otherwise. More frequently, a 30-day or 60-day notice must be provided by one party to the other.
A tenancy deposit cannot usually be more than 5 weeks' rent.
33-1324, the landlord is required to "make all repairs and do whatever is necessary to put and keep the premises in a fit and habitable condition." (complete statute below). Pursuant to A.R.S. 33-1361, if the landlord fails to keep the premises fit and habitable, you have a few options.
Under Arizona law, a landlord may ask for a security deposit up to an amount that is equal to 1 + ½ month's rent (A.R.S. §33-1321(A)). A landlord may not ask for more than this.
If the landlord and tenant agree to the term of the rental agreement, the rental agreement may be for any term. If the landlord and tenant disagree on the term of the rental agreement, the rental agreement shall be for twelve months.
