While it is no secret that foreclosures have caused a shift in the number of people renting properties, it is interesting to note the numbers associated with this trend. According to an article written in USA today, Mesa, Phoenix and Scottsdale have increased in the number of homes being rented by over 30% since 2010. Many other cities have also seen major increases in this area such as Avondale and Goodyear.1
With many more tenants, including former homeowners, it is important that property managers, investors and tenants alike understand the laws and rights associated with rental properties. This is especially true with investors who purchase homes still occupied by former homeowners, or current tenants. Although an owner technically may own a property, they still have to go through the eviction process to obtain access to the home if the occupants refuse to cooperate.
One woman in Oakland California broke back into her recently foreclosed home after she had already been evicted. 2 In other cases, owners may strip the houses of all fixtures (including stove, dishwasher and light fixtures) even though it is illegal. Examples like these show the importance of understanding the laws governing landlords and tenants. To learn more, talk to a professional property manager or someone educated about the Arizona Landlord Tenant Act. You can access this through the website listed below.
Becoming more educated will help investors, landlords, property managers and tenants eliminate or avoid problems that arise in residential housing.
1- Schmit, July, and Barbara Hansen. “More than 500 Cities See More Homes Become Rentals – USATODAY.com.” News, Travel, Weather, Entertainment, Sports, Technology, U.S. & World – USATODAY.com. USA Today, 7 June 2011. Web. 30 June 2011. <http://www.usatoday.com/money/economy/housing/2011-05-30-renters-owners-census_n.htm>.
2- Glantz, Aaron. “Fighting Eviction by Breaking Back In.” The Bay Citizen. 19 May 2011. Web. 30 June 2011. <http://www.baycitizen.org/housing/story/fighting-eviction-breaking-back/>.
Arizona Residential Landlord Tenant Act- http://www.azsos.gov/public_services/publications/residential_landlord_tenant_act/Residential.pdf