Scottsdale vs Nearby Cities
Scottsdale has one of the more expensive real estate markets in south-central Arizona. The median home value is over $400,000, and the median listing price is often around $600,000. Phoenix is less than 15 miles to the southwest and has a median listing price under $300,000. Those prices are comparable to other cities just south of Scottsdale, including Mesa, Tempe and Chandler. All of these cities typically have median listing prices under $400,000. The median rental price in this region of the state is around $1,500 per month.
Real estate prices are gradually increasing throughout central Arizona. This region of the state features a stable job market, and yearly earnings are above the national average. Many residents can afford nice homes. Growing demand often leads to higher prices.
Scottsdale Property Managers
Professional property managers are authorized representatives of rental property owners. They handle the daily operations that keep rental properties marketable and in compliance with all laws. Many managers have real estate knowledge or experience. That allows them to help with pricing, property design and marketing.
The level of management oversight varies between properties. Some owners want weekly or monthly updates complete with pictures and video footage of the property. Others visit the property regularly and are more active in routine decision making. The duties assigned to a property manager can vary.
Scottsdale Property Management Fees
Most professional property managers charge a base management fee plus added charges for select services. The management fee varies by property, depending on the size and condition of the property. The number of rental units and services included in the contract may also impact the rate. The management fee is often a percentage of the rent collected from tenants. A vacancy or recruitment fee may apply. Some managers will charge added fees for marketing and onboarding new tenants.
Arizona Landlord/Tenant Laws
- Arizona landlords are legally required to provide tenants with educational materials regarding the hazards of bedbugs.
- Landlords have up to 14 days to return a tenant’s security deposit after the property is vacated.
- If a landlord fails to return a security deposit, the tenant may file a lawsuit worth up to $2,500.