Top City Searches in Arizona
Arizona: The Grand Canyon State
With 7,151,502 residents, Arizona is the 14th-most populous state in the United States. Known as "the Grand Canyon State," Arizona is home to widespread natural beauty, including dense pine forests, vast mountain ranges, and deep canyons. The internationally recognized Grand Canyon
, which attracts millions of tourists each year, is located here.
Arizona is a great place to live in. The state boasts a thriving economy, a moderate cost of living, and excellent public transportation. Arizona is also known to have a vibrant arts and culture scene. Museums that call Arizona home include the Phoenix Art Museum
, the Heard Museum
, the Arizona Capitol Museum
, and the Arizona History Museum
. Music also plays a prominent role in the culture of Arizona, particularly the genres of country, punk, rock, and heavy metal.
Sports are also huge in Arizona. In fact, several professional teams are based here, including the Phoenix Suns (NBA), the Arizona Cardinals (NFL), the Arizona Diamondbacks (MLB), and the Arizona Coyotes (NHL). There are also many colleges and universities in Arizona. Some examples include the University of Arizona
, Arizona State University
, and Northern Arizona University
Other notable attractions in Arizona include the Petrified Forest National Park
, Grand Canyon Village
, Monument Valley, Saguaro National Park
, Antelope Canyon
, Horseshoe Bend
, Desert Botanical Garden
, and Havasu Falls.
How Is Arizona's Rental Market?
Arizona's real estate market has been booming
for the past year despite the pandemic. Median home prices vary per city, though they all have one thing in common — they have all definitely risen. In Phoenix and Scottsdale, home prices increased by 30%, while Mesa home prices increased by 29.5%. Tempe and Chandler are not too far behind, boasting an increase of 27%. Demand is slowing down, though, which could signal a drop in prices as well.
This is a good time to buy real estate in Arizona. Property investors, in particular, can benefit greatly from investing in the state's rental market. Home prices are projected to decrease, while the renter population remains decent. In fact, 35.6% of the state's residents rent their homes.
Image via towncharts.com
Additionally, rent is expected to continue to grow. In 2019, Arizona had a median rent of $1,101, which is only slightly above the national median of $1,097. Still, the upward trend has been persisting since 2013. The state vacancy rate is also about average, at 5.32% in 2019.
Image via deptofnumbers.com
Beyond that, Arizona is a landlord-friendly state. There are several ways to evict a tenant here, and lease violations are not as tolerated compared to other states. Arizona also lacks statewide rent control policies.
Why Hire an Arizona Property Management Company?
Landlords often have a hard time balancing rental management with other aspects of their lives. This stems from either a lack of time or expertise in the field of property management. Fortunately, a surefire way to protect your investment and secure rental income is to hire an Arizona rental management company.
What can a property management company in Arizona do for you?
A company or property manager can assume all of the duties you normally fulfill as a landlord. This includes advertising your property, screening tenants, conducting property inspections, setting and collecting rent, and overseeing maintenance and repairs. They also typically write and enforce your lease agreement as well as field tenant concerns. While services can vary, many companies also provide help with budget management, tax preparation, and eviction.
If you find difficulty in rental management, have too many properties to manage, or simply have no interest in the subject, then it's time to seek professional help.
Get Help With Property Management in Arizona
Rental Choice aims to make it easy for landlords and property owners to search for rental management companies. Our online directory
allows you to browse by city or state and only consists of companies that provide reliable property management in Arizona. Simplify your search process today!