How to Price Your Rental Home

Are you a soon-to-be landlord who is wondering what to charge for rent on your residential property? In Tempe, there is a lot of competition among landlords, and an improperly priced home can sit on the market for a long time. In order to prevent this from occurring, you’ll need to collect information regarding what comparable homes are leasing for. In real estate, this is called a “comparative market analysis,” and is done through research on the MLS. If you are not certain how to get this done, a good place to start is with a local property management service. Pricing homes is part of effective property management, and a good service will give you advice, while leaving the decision up to you.

Security Deposits on Rental Properties

Another matter that you’ll need to determine for your rental is how to set the security deposit. According to state law, a landlord may require up to one and one half times the rent as a deposit on the rental. This deposit will be held until a move-out inspection is performed, and is to be returned less the amount of any damages caused by the tenant. There are other legal requirements involved in this issue; for further information, please read The Arizona Landlord Tenant Act: Residential Landlord Tenant Act

Property Management for Tempe, Arizona, Landlords

If you’re thinking that you might want to speak with a professional about property management in Tempe, contact: Desert Wide Properties