Hi all - I've seen several posts about the viability of short-term rentals in LHC, but curious if anyone has any insight into the demand for long-term renters? Is there an economy there outside of tourism? Perhaps retirees that are moving there full time but want to rent before they buy? Thanks for any feedback!
Emy I was just there 2 weeks ago and will be back next weekend. I think the group of people who are looking to rent like retirees are the people renting the str during the offseason. I was speaking last time i was there with an ex californian who moved there and has str/ltr of his own and he said canada and Midwestern retirees will rent his str in winter months and pay 4-5 months in advance. As far as long term for younger people it might be a little hit or miss due to the schools there being less than ideal... I could be off but this is what i have seen personally out there without getting into calculations rents...
@Kyle S. Thanks for the feedback. That's pretty much what I figured, unfortunately. And, the fact that they are planning to add a ton more inventory with the Havasu Riviera project will probably make the demand even less. I would love to have a place there to rent out part time and use as a semi-retirement pad in the future. We visited last year in August during an extreme heat wave - it was 118 and a ghost town. Kind of nice being on the lake when it's empty if you can stand the heat. From what I've researched - monthly rents during the high season for a 3/2 maybe top out around $1800. Someone please correct me if I'm wrong on those numbers.
Depends on who you rent to. I know many people here that have been renting their house out to the same snow birds for years. There are tons of duplexes around and there is always someone living in one. I plan to buy a small amount of units here because I am not a huge fan of the city economics. All the new inventory going in is 300-400k+ housing (cheap to Cali people). Few local people can afford that. Strs are great when the economy is good, but when it turns havasu goes bust right along with it.