|Specialty||# of Agencies|
|Single House or Condo||23|
|Home Owners Association||10|
|Total Local Companies||36|
Arizona Rental Market Overview
Timing and Location are Vital Considerations for Arizona Property Investors
After being pummeled by the 2008 recession and housing crisis, Arizona's rental market slowly continues to improve, although specific regions of the Grand Canyon State fare better than others. Phoenix, Tempe and Scottsdale demonstrate strong demand for new apartments, especially as new jobs keep pace with construction development. Other regions of Arizona are still burdened with an abundance of foreclosed properties and slow employment growth, as demonstrated in the Tucson region where limited quality listings and a disproportionate amount of REO properties keep out-of-state investors on the sidelines. Property investors with liquid capital have the advantage right now in Arizona because they can pick and choose their market. Many established developers and investors with existing assets beyond the Phoenix metro area remain in a holding pattern until the local economy improves and REO assets are sold to generate more activity.
Develop a Property Management Plan for Your Immediate Future
If you're a small landlord or independent investor with assets in the Phoenix Metropolitan area, your immediate rental strategies will vary greatly from property entrepreneurs with holdings in other areas of Arizona. Landlords in or near Phoenix should be actively marketing and pursuing new tenants as job growth continues to improve. Property owners with assets outside Phoenix should also market their properties, but it's important to consider cost-effective strategies and methods for making your rental property stand apart from the numerous vacancies available to tenants. If your local market lacks quality listings, consider property improvements and upgrades that will add distinction to your rental offerings.Â Proper staging during the showing process can also make a positive impression. Many Arizona property management companies offer real estate services that can help generate traffic to your listings. These local property managers can introduce cost-effective methods for online marketing and improving curbside appeal. A property management company can also shoulder some of your workload by screening potential tenants, showing units and optimizing your lease agreements for long-term tenant retention. Learn more by requesting free information from our partnered Arizona property management companies today.