All Forum Posts by: Walter Moneypenny

Zillow will pull from the MLS. I would contact the listing agent of the sale and see why the for sale listing is still active since you say it is closed. Zillow will not allow a for sale and a for rent listing to exist at the same time. The sale listing takes priority.

In the ARMLS (Phoenix Area) and MLSSAZ (Tucson Area) there is not an ability to pull absentee owners from those MLS systems. There are lists available (not free) mined from the County Assessors that are offered by third parties. The Maricopa County Assessor website has limited export functionality (most likely by design) that can allow you to search rentals from their site.

Pima County has better downloads available that can be searched. 

@John Underwood You would think so. Maybe in a big city like Phoenix the police can't prioritize the calls. I literally have to catch them breaking in or it is a non-emergency call which then has a very extended response time. Then the police will say that it is a civil matter and to go through the legal process. It's frustrating. I hear that it is actually worse in other states. 

It really varies by jurisdiction. Here in Maricopa County, AZ we have to go through the eviction process for most squatters. Most of the time the police will not pull them out unless a crime was observed in progress. I've had to deal with several over the past year. 

Check with your broker. The answer will vary based on state laws and regulations. 

I am an agent and recovering HOA Community Manager in the Phoenix area. In the past 4 years I have worked with investors, big and small, to purchase and/or rent their properties. I am excited to be a member of this community to learn even more about this industry.

Quote from @Kimberly Keesler:

I've own a duplex in the Sunnyslope area of Phoenix since 2016.  Purchased for 99K.  Both units rent for around $1,200 each.  This summer, I considered selling it and had it on the market for 2 months (looking back I think we priced it way too high at $400K, but my relator insisted places were selling over $200K a door).  We had a tenant move out in August, so we renovated that unit and kept it open to show potential buyers.  After 2 months of no offers, I asked them to pull it off the market and re-rent.  It's now sat empty for 3 months and the Property Management company keeps telling me that it's priced appropriately and they're just not getting qualified applicants.  Any time I ask for metrics (how many emails expressing interest did you get, how many applicants, how many viewings did you do) I don't get full answers.  They're now coming back and saying I need to spend more to spruce up the landscaping.  I'm starting to feel like I'm being played.  

Question to others in Phoenix.  Is it a really slow market right now for renters / buyers?  Comparable units do look a bit nicer but I'm priced under what they're asking for. So I'm not sure if I'm the one being unrealistic or if they see ME as the cash cow. 

Typically the 4th quarter is the slowest time of the year for long term rentals. I am a Realtor and have been in the North Central area of Phoenix for almost 20 years and have been doing sales / purchases and rentals in the area for the last 4. I have done several rentals in Sunnyslope.  Days on market have been increasing since the late summer and now are about the longest they have been in several years. 

The Phoenix rental market has cooled and different strategies need to be used to get the property rented. If you are holding out for a particular amount for the rental, you need to consider your vacancy costs. Sitting vacant for 3 months could cost you $3,600 at $1,200 per month. A price drop of even $50 per month may cost you $600 in yearly rent, but it's better than sitting vacant for one more month. 

I don't see where the PM company would be using you as a cash cow. Most PM companies do not make any money if the property is vacant. I would recommend interviewing some companies to get their take on the property and the market for that particular area. 

Quote from @Tricia O'Brien:

@Theresa Harris

Would you list the 18 and 19 year old as occupants on the lease?  Would you list the 14 year old as an occupant as well?

We do not list minors as occupants on the lease. We would list the legal adults on the lease. 

What I do in Phoenix is have all of the financially responsible tenants sign the lease. We also have a section for "Additional Occupants." This would be for adults (18+) that live there but are not contributing to the rent. Typically these would be adult children. There are stipulations in the lease that if one or more of the financially responsible tenants move out, then the remaining have to prove that they can qualify to remain in the home. 

Regardless of financial responsibility, all occupants 18+ have a background check run on them. 

Quote from @Tracy Ross:

Our PM company uses Zillow to find tenants. I also like to list on Facebook Marketplace and Craigslist. Here in the Boise area our tenant placement slowed down a little as well but is steadying out. 

I would also say check out comparable rentals and see how many are out there and if you're priced correctly for that area/market. 

Our company and others in my market do not use Facebook Marketplace or Craigslist due to the high instances of scams. I have had several listings be duplicated on those sites and prospective tenants actually fall for the much lower rents the scammers advertise. Getting out to the trusted outlets such as Zillow and other sites will get better exposure, in my opinion.