Recent Posts: Renters and Renting

Post Image

Apartment Rent Growing Fastest in Arizona.

Arizona Big Media reports that apartment rent grew 5.8% in the first half of 2019, the fastest in the U.S. Figures from a Rent Café survey show that Arizona’s rent increase easily exceeded the national average of 3.2%. Back in April I tweeted about last year’s increase, which also lead the nation – so the […]

Area: sqft Bed Room:  Price: 
City:  Location: 
Post Image

Avoid Lead Removal Liability.

Part 3. The disclosure part of the lead removal rules (see part 1 and 2 for the other guidelines) requires that an EPA booklet entitled “The Lead-Safe Certified Guide to Renovate Right” be supplied. This document must be supplied before the work is done if there is an existing tenant. The booklet must be supplied […]

Area: sqft Bed Room:  Price: 
City:  Location: 

Build Wealth Thorough Home Ownership.

The net worth of a homeowner is on average over 44 times greater than that of a renter. One way to look at it is that home ownership works as a form of forced savings. Every time home owners pay their mortgage, they are contributing to their net worth by increasing the equity in their […]

Area: sqft Bed Room:  Price: 
City:  Location: 
Post Image

Can you Do a Short Term Rental in a HOA?

Arizona law states that a member of a HOA may use the member’s property as a rental property unless prohibited in the CC&Rs per A.R.S. §33-1806.01. Accordingly, unless the CC&Rs expressly restrict “vacation rentals,” “transient lodging” or “short-term rentals,” Airbnb and VRBO type rentals within a homeowner association community are probably lawful. If the current […]

Area: sqft Bed Room:  Price: 
City:  Location: 
Post Image

Rents Keep Increasing.

The metro Phoenix area has the nation’s second-fastest growing apartment rental rates. Some renters may pay hundreds of dollars in higher rent over the next year, according to a new report from RentCafe. From September 2017 to September this year Phoenix had the second fastest growth in rent, with apartments costing on average 6.9% more […]

Area: sqft Bed Room:  Price: 
City:  Location: 
Post Image

Buy Don’t Rent!

The latest Rent vs. Buy Report from Trulia shows that home ownership remains cheaper than renting with a traditional 30-year fixed rate mortgage in the 100 largest metro areas in the United States. This includes Phoenix, which is in the top 10 in size. These numbers show that the average range is 26.3% less expensive […]

Area: sqft Bed Room:  Price: 
City:  Location: 
Post Image

New Landlord-Tenant Changes.

Recent changes have been made to Arizona’s residential Landlord-Tenant Act which are generally favorable to landlords. They include changing the period of time a landlord has to hold abandoned personal property before those items can be sold or disposed of. The previous hold period of 14 days has been shortened to10, allowing the landlord to […]

Area: sqft Bed Room:  Price: 
City:  Location: 
Post Image

Don’t Forget Renters Insurance Coverage.

Renters insurance protects  furniture, clothes and a tenant’s personal property. Instead of potentially having to re-buy the entire contents of your rental home, you could be insured for as low as $20 a month, or less than $250 per year. Coverage includes losses from fire or smoke, vandalism, theft, and water damage, including if an […]

Area: sqft Bed Room:  Price: 
City:  Location: 
Post Image

Many Renters Don’t Get Security Deposits Back.

26% of renters don’t get their security deposits back when they move out, a Rent.com survey of 1,000 renters found. Landlords cite the biggest reason for withholding security deposits was tenants who moved out too early. And renters agree: 44% between the ages of 18 and 24 said that’s why they didn’t get their security […]

Area: sqft Bed Room:  Price: 
City:  Location: 
Post Image

Landlord Maintenance Tips.

If you are a landlord, there are some maintenance tasks your tenants should be doing. For example, replacing the air filters for the HVAC unit. Or making sure the batteries are functioning in the smoke detectors. These are simple yet important functions most landlords want their tenants to take care of. The first step is […]

Area: sqft Bed Room:  Price: 
City:  Location: 
Post Image

Phoenix a Top Market Where Renters Can Afford to Buy.

The National Association of REALTORS reviewed employment growth, household income and qualifying income levels in nearly 100 of the largest metropolitan areas across the U.S., to determine which areas with employment gains above the national average also have the largest share of renters who can afford to buy a home. Despite the recovery of our […]

Area: sqft Bed Room:  Price: 
City:  Location: 
Post Image

Why People Rent, Not Own, Part 2.

According to the Wall Street Journal, when asked what was their primary reason for renting, 49% of those aged 18 to 34 said they were not financially ready to own. Of those 35 and older, 26% cited that same reason. In the younger below 35 group, 15% said they rent because it is more affordable […]

Area: sqft Bed Room:  Price: 
City:  Location: 
Post Image

Why People Rent, Not Own, Part 1.

A study of renters by Fannie Mae revealed the top 3 reasons that they were renting: a. 57% said it allows them to live within their budget; b. 52% said its less stressful; c. And 50% believed its the best decision given the current economic climate.

Area: sqft Bed Room:  Price: 
City:  Location: 
Post Image

Why Renters Want to Own.

A study by Fannie Mae showed that 90% of renters plan to be homeowners one day, with the top 5 reasons why renters want to buy being: 1. Control over what you do with your living space: 84% of renters said this was their main reason for owning; 2. Having a sense of privacy and […]

Area: sqft Bed Room:  Price: 
City:  Location: 

Why you Should Put your Rental in an LLC

Renting a property, whether a residential or commercial rental, is generally considered to be a high liability business. As a result, reducing the possibility that creditors (which could include an aggrieved tenant) can reach your other assets is critical. That is done by separating each rental property from your other assets – including from any […]

Area: sqft Bed Room:  Price: 
City:  Location: