5 things to know before renting a house in Arizona￼
If you are moving to Phoenix and want to rent your home, there are a few things you should be prepared for. Renting can be a great way to learn a little bit about a certain neighborhood, try the city out for a bit on a trial run, or just wait out the home-buyer scene until things become a bit more affordable for today’s buyers. Even if you think you know what renting is all about, the times have changed, so take a quick peek at our top five things to know about renting a house in Arizona!
Renting a place in Arizona
Everybody needs something different.
Before we get down to it, let’s make it clear that this is not a list of cons designed to pressure you into buying instead of renting. Everybody has a different situation, and renting might be much better for you right now. Just because you are renting now doesn’t mean that you don’t want to buy in the future.
Or, if you already own your home but are thinking of renting before you buy your next one, it can be beneficial to brush up on the ins and outs of the rental scene. These are just a few key points that should be considered before you pack the family up and head to the desert!
1. Renting is extremely expensive
Phoenix rent is one of the highest in the nation. Of course, cities like Los Angeles, Seattle, and New York City are known for their exorbitant rent, but the valley has risen to join its pricey cousins. The average rent in Scottsdale is about $2,500 a month, and in Goodyear, an area once considered to be exceptionally affordable, that number is $2,000 a month. This doesn’t represent large homes either, this is the average rent for small homes with a few bedrooms and one or two bathrooms.
Learn More: All the areas of Phoenix AZ Explained
2. There is not a lot of rentals to choose from
Not only is the rent expensive in Phoenix right now, but there are not enough homes to go around, and the choices become slim. There are so many people who are putting off buying a home until the seller’s market settles a bit, and if they absolutely have to move now, it puts all of them into the rental property pool. That pool is getting pretty full! With such a saturated renter’s market, it can be hard to find the kind of home you are looking for, let alone get to it before somebody else does.
3. The short-term rental market is saturated
Whether you are looking around to find a part of town you like or are just giving Phoenix a bit of a trial run to see how things go, if you know you won’t be renting for a long time you will pay a premium. Owners and managers don’t like having to find new tenants; it’s a lot of time and effort and vetting. If you can’t commit to sticking around, they are going to raise the rent to make it less desirable to sign a short-term lease. The same homes we mentioned earlier that were $2,500 and $2,000 a month could be as much as double the price if they are short term rentals.
Have a question about Phoenix AZ’s real estate market?
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4. Dealing with owners or property managers can be stressful
When you sign your lease, it always seems like interactions with property managers or owners will be seamless. Well, obviously…they want you to sign that dotted line! When it actually comes down to it and you are faced with a broken toilet or a fridge that stopped running or a shower that won’t drain, getting the problem fixed might not happen in such an easy manner.
It can be really hard to actually get things done, and there can be discrepancies between what renters and property owners think is getting it done well. On top of dealing with that liaison, not owning the property yourself means you are paying a lot of money to live in a place that you really can’t do anything about.
5. The Super Bowl will be in Phoenix in 2023
This sounds great, right? All the action will be at your own front door! Hold your horses, all the action unfortunately means all the headache as well. Phoenix is already extremely busy during the winter months with all of the golf tournaments, spring training, and other gatherings that are happening here because the rest of the county is engulfed in winter conditions. Add onto the craziness the fact that there will be more people in town for the Super Bowl, and the rental home market is going to become even more saturated. The competition is already getting fierce and it’s not even close to the event yet.
Learn More: Top Cities people are leaving to move to Phoenix
Nothing is perfect
While this seems like it’s more of a list of negatives about renting than just helpful advice, remember that no situation is perfect. If you are buying, you’ll be facing plenty of issues as well, they will just be different. The decision to buy or rent when you are moving to a new city is a very personal one, and the right choice is different for each person.
If you want to rent in Phoenix in 2023, yes, you will likely deal with a lot of these inconveniences. But that doesn’t mean it still isn’t the best choice for you, especially if you are not certain of the area that you want to commit to forever (or for the foreseeable future.) If renting is what you want or need to do, with these few tips you’ll be a step ahead of the rest of the prospective renters out there!
Looking to move to the Phoenix Metro Area?
Whether you are looking to buy or rent, if you are thinking of moving to the Phoenix Metro Area, reach out to me today at AZLiveStyles. I would love to answer any of your questions about living in beautiful Phoenix, Arizona.