Real Property Management Phoenix Valley is an industry leading real estate sales firm and Phoenix property management firm. We offer Phoenix residential sales as well as property management services. Therefore, our clients are always asking us for what types of properties make the best rentals. Here are four items to look for in a new rental purchase.
- One story home versus a two. Because of the high heat in the summer Phoenix tenants are very cognoscente of electric bills. For this reason a tenant will always chose a one story over a two story home. Additionally, the smaller two story homes only have one air conditioning unit which can lead to the second story feeling very hot in the summer.
- A larger home with less bedrooms is preferable to a smaller home with more bedrooms. For example, most tenants would prefer a 1700 sq ft three bedroom home to a 1700 sq ft four bedroom home. The reasons are two fold; the three bedroom home will have more living space and each bedroom will be a larger size.
- Single family properties are preferable to condos and town homes A single family home offers a lot more privacy as well as a back yard for kids and pets. Also, single family homes face less rental competition; its’ only competitor is other single family homes. In comparison condos and town homes compete amongst themselves and with apartments and single family homes.
- Three or four bedrooms is much preferred to a two bedroom even with a den. Although a den can be used as an office tenants would prefer to have the third full bedroom. With the third bedroom they have the option to still use as an office or use for a third occupant.
Definitely consult with a Phoenix property management firm if you can prior to purchasing a rental property. Not only can we provide what to look for but we can also provide a realistic rental range based on tenant occupied rentals in the area. This range can often be quite different to what a Realtor may state by looking at vacant homes on the market. View a list of top Phoenix property management firms!
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