Maricopa Chamber Members Blog

City of Maricopa Rental Market

Last modified: February 21, 2008

By Terri Kingery | Email Author

Submitted by Dawn Madden
Maricopa Properties

A few months back I met with someone who had their home in Maricopa up for sale. When that wasn’t happening, they wanted to rent it out. Their agent at the time told them they could list the home for rent themselves but that was not a service she provided. She also made the comment that it most likely would not rent out either as there are so many rentals on the market today. They had it listed themselves for a month or so but weren’t getting any closer to getting a tenant into the property.

That’s when they called me. They were referred to me from a past client whose house I rented out so they knew that I was knowledgeable about rentals and was working with rentals because it is part of my business plan - not simply due to the slower market as some Agents may be.

I met with them and listed their home for rent only (not for sale also) explaining that our odds to rent it were much better than the odds to sell it considering their expectations of what they wanted to net on the home sale. Within 20 days of listing the home and my doing the marketing that I require for rental homes, we had not one but two applicants! We ran the credit, did the background checks, verified the references and then I reviewed the information with the owners. They decided to rent it to the family that wanted the home for a period of two years. Their thoughts were that in two years the builders will have corrected their production and home valuations SHOULD have started to increase again. The tenants signed a lease 29 days after the homeowners signed paperwork to list their home with me.

We discussed our property management services as far as what they encompass and the fees. These particular homeowners decided to manage the property themselves since they are staying local and have a good handle on the accounting necessary as well as the vendors that they may need in the future. I always say that property management is not for everyone but the people with patience and time could very well manage their own properties.

In any case, any agent that tells you that the market in Maricopa is bad for renting and selling homes is simply looking for a reason to be a naysayer. Renting a home is completely possible – just ask clients this past year!

For more information on listing your home for rent, please contact me at Dawn@MaricopaProperties.com .