Tempe vs Nearby Cities
While the cost of living in Tempe is higher than the national average, the city’s housing market is more affordable than some surrounding cities. The median listing price in Tempe as well as Mesa and Phoenix tends to stay below $300,000. Compare that to a median listing price around $600,000 in Scottsdale. This city offers a median home value around $400,000, which is substantially higher than the value of most homes in Tempe. Cities like Gilbert and Chandler offer a middle ground with median listing prices around $350,000. The median rental price per month is around $1,500 for most cities in this region.
Tempe Property Managers
Property managers handle tasks that many property owners don’t have the expertise to cover efficiently. For instance, an experienced manager can handle evictions and tenant screening in a professional manner. They may also handle renovations, maintenance and repairs from hiring the most qualified contractors to issuing payment when the job is complete.
Tempe Property Management Company Fees
Most property managers in Arizona charge less than 10 percent of the rent collected from tenants. This fee can go higher if the property owner expects services not normally included in the management fee or if the property will otherwise require extra attention. Leasing fees, vacancy fees and other added expenses are often charged as well.
Arizona Landlord/Tenant Laws
- When a landlord fails to return a tenant’s security deposit within 14 days, the tenant may file a lawsuit worth up to $2,500.
- Landlords in Arizona may charge no more than 1.5 times the monthly rental rate for a security deposit.
- If a tenant’s rent check bounces, the landlord may charge a fee of up to $25. The tenant must also cover any fees charged by the landlord’s bank.