I wrote a lease yesterday for some new clients who are moving to the area. They’d already done some significant research on schools and commute times, and we talked more about some of the other resources that are available to them. One of the tools that they needed to know about is the Arizona Residential Landlord and Tenant Act, where the rights and duties of both the landlord and the tenant are described in great detail. It’s an important document for all parties in a lease to know about, and follow.
This morning at AZCentral.com, there’s an article, “Familiarize yourself with Ariz. tenant laws“, which further reinforces the importance of the Arizona Landlord and Tenant Act. While the news article was written from the renter’s perspective, the Landlord Tenant Act really serves as a guide to define the rights and responsibilities of both the landlord, and the tenant.
With the increased number of homes on the market, some owners are resorting to renting out their properties. I’m finding a much better of selection of rental properties for my clients in the MLS system than I have in the past. If you are a first-time landlord, make sure to do your research and hire someone who can guide you through the process. And, if you are looking for a home to lease, let me know and I’ll get you set up with some automated searches that will email you homes that match your needs.
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Great advice, if renting for the first time on your own be sure to understand the law. Know how much you can ask for deposits, what are the procedures if the tenant is late on rent. Better to know up front than scramble at the last second.
One thing that tenants should also look at how financially stable the landlord is-I know a couple of people that have had to move because the landlord defaulted on the mortgage- some are not even telling the tenants- scary
It’s not only tenants that need to familiarize themselves with this Act, its the owners as well, new and seasoned. Many don’t even know it exists. There is a great organization for landlords in AZ. Its the Arizona Multihousing Association or AZAMA.org Its not only for multifamily owners. There are resources for landlords and tenants.
Irene, Jamie, and Artur – Your points are additional helpful info for landlords and tenants.
One issue that came up for me this week, was the hope by a landlord that a seasonal rental might not fall under the same Landlord Tenant Act. It does.