By Brian Petersheim
Finding a good property to rent in Maricopa is still tough but becoming much easier than it was just three months ago. There are almost twice as many rentals on the market today than there were during the summer.
To put the supply in perspective, Maricopa currently has about 18,500 homes currently, but only 0.12% are for rent on the Arizona Regional MLS (plus 12 furnished vacation rentals).
The rental homes are coming on the market, and may have applicants within the first few days, and are rented quickly.
In June: 96.3% of the homes were rented within the first 30 days.
Now: 81.2% of the homes were rented within the first 30 days.
There were 85 homes rented in the past three months in Maricopa. The average monthly rent was $1,360 for an approximately 2,000-square-foot home.
Total number of homes for rent 23 (+9 from June)
Rentals allowing pets 19 (+14 from June)
Rentals with pools 1 (+1 from June)
Short term/seasonal rentals 12 (+4 from June)
Monthly lease prices of 23 rental homes on the market:
The rental market is tight but loosening up. Prices have stayed the same since the summer, but inventory has increased significantly.
A prospective tenant needs to put their best foot forward when applying to rent a home. These are some tips and tricks to help a tenant get into the rental home of their dreams and set them above the competition.
- Any resident over 18 will likely have to submit to a credit/criminal check. Know in advance what those reports will show, and have documentation prepared accordingly.
- Attach reference letter from boss or previous landlord to application.
- Check with property manager/landlord to see if there are any applicants already. No sense in spending money on application fees if another tenant is already being considered.
- Any Realtor can help you with rental listings.
- If you are in need of a washer/dryer/refrigerator and the rental doesn’t have one, ask if one can be supplied. Worst case they say “no,” best case they install one.
If you are interested in purchasing a home for an investment property, please reach out.