Rent Prices in Surprise 2015-2019

This comparison looks at Surprise rent prices from 2015-2019.

Real Property Management Phoenix valley has built a chart to show key figures so that you can get a good idea of what is the fair rent in Surprise, AZ and how rental property prices in Surprise compare with the national Consumer Price Index.

The below chart includes the following Surprise rental property data points from left to right– Year, Number of Properties Rented, Average Sq. Ft. of property, Rent Price of Property per sq. ft, Percentage of Rent Price Increase year to year, Average Days on the Market and the national CPI from year to year.

The data was collected from the Arizona MLS for unfurnished, non-vacation, detached homes.

There are some very interesting numbers in this chart. Over the last 5 years, rent prices in Surprise have increased at a rate that is 5x the national CPI (7.6% Average Rent Increase vs. 1.5% Average CPI increase). The rent price per square foot has gone has increased 21 cents from 2015 to 2019. A 2000 sq foot property in Surprise fair rent price in 2015 was $1249 vs. $1673 in 2019. Rental property inventory in Surprise took a 23% decrease in 2016 but has remained relatively stable since then.

If these numbers have motivated you to purchase investment properties listen to our podcast below which includes our property investment purchase cheat sheet

 

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Tenant Repairs

To charge the tenant or to not charge the tenant; that is the question!  Recently we had a local appliance company out to a property we manage in Mesa.  The tenant repair issue was a foul smell from the washer.  The invoice came back and said “washer is working well at this time.  Told tenant to run some citric acid through the washer to help with mildew smell”.  We then charged the tenant for their visit.  The tenant was extremely upset and contacted the appliance vendor directly.  After that conversion suddenly a revised estimate appeared.  The new estimate stated that the cost could be up to $500 to repair.    There was no further explanation so we called the company.  They explained that for this tenant repair they would need to take apart the pump to clean out a build up of soap. We questioned how they had arrived at this diagnosis without going back to take the washer apart.  Turns out Real Property Management Phoenix Valley is one of the only property management companies who will hold a tenant responsible for a repair they cause!  According to the appliance company all of the other companies they work with automatically charge the homeowner.  Here are a few examples of repairs that tenants should pay for:

  1. Putting bones and/or other objects down the garbage disposal that causes it to break
  2. Not aligning garage door sensors thereby the door won’t close
  3. Replacing smoke detector batteries
  4. Replacing air filters
  5. Replace light bulbs
  6. Resetting GFCI outlets and or breakers

If you are unsure if a repair is the tenant’s responsibility you can refer to the AZ Landlord Tenant Act.

 

For all of your Phoenix Property Management & Phoenix Real Estate & Phoenix Property Management Needs Contact:

Real Property Management Phoenix

www.rpmphoenixvalley.com

602-358-8130

info@rpmphoenixvalley.com

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Goodyear Property Manager

Goodyear Property Management
Goodyear Property Management

Real Property Management Phoenix Valley manages rental homes valley wide.  Our Goodyear property management team  just rented a property in Canyon Trails in less than one day!  Canyon Trails is located south of the I-10, east of Estrella Parkway, North of Lower Buckeye and West of Citrus.  It is located in the heart of Goodyear.  Home building started in Canyon Trails in 2001 and continues today.  The homes there range from two to six bedrooms and two to five bathrooms.  The community consists of track homes so the lots tend to be small and are all less than one acre.  Goodyear offers many activities including hiking, biking, relation with spas and Spring Training. .

Our Goodyear property management team first rented this three bed/two bath, single story rental home in 2013 for $895.00 and it took nine thirty five days to place a qualified tenant.  Furthermore, in 2015 we saw the home rent for $950 and took 25 days.  In 2017 the home rented for $995 in 9 days.  In 2018 we were able to get $1095 in 5 days.  Final this month, 2020  we were able to get $1195 in 6 days!  The 2020 rental price represents a 34% increase from 2013.

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