The Phoenix City Council this week unanimously approved a new permitting process for short-term rentals that will require owners to have a permit for their rental property, notify neighbors and carry liability insurance, among other restrictions. It came two weeks after the council voted to legalize backyard casitas. (File photo by Emma Peterson/Howard Center for…
PHOENIX — The city of Phoenix is taking steps to crack down on short-term rentals. Many people believe it is long overdue.”It’s really unacceptable,” said Alexia Shonteff, a north Phoenix resident who lives down the street from a short-term rental. “It’s almost every single weekend, they have these huge people coming in, and there’s a…
But the fair market two-bedroom apartment rent in Arizona is about $1,560. A fair market one-bedroom in Arizona costs tenants $1,290 a month, meaning a renter making the state’s minimum wage would … [wpts_spin]{Read|See} the {entire|full} article {on|about} rental market trends in Arizona, or, read more news about {Arizona real estate investing|real estate investing in…
Local governments across Arizona are pushing the state to further regulate the short-term rental industry through three proposed changes in the law, which city leaders believe can help stop Airbnb-style businesses from claiming more homes in communities that are already struggling to provide enough housing for residents.The proposal would give local officials the power to…
PHOENIX (3TV/CBS 5) — When purchasing a home, buyers are having a tough time nationwide: high interest rates and low inventory are the culprits to blame. But a recent report shows Arizona is faring better than most states, thanks to an influx of jobs like those at the TSMC microchip plant.This week, the National Association…
PHOENIX (3TV/CBS 5) — Voters first approved the half-cent sales tax, known as Proposition 400, in 1985, and they renewed it again in 2004. Over the decades, it’s paid for major road and freeway projects, as well as the light rail. The tax is set to expire at the end of next year unless voters…
Students are locking in their living arrangements as they prepare to return to college campuses this fall.As of June, 86.6% of beds at dedicated off-campus student housing facilities were preleased — a 5.2% increase from May and a 0.4% increase from the same period a year ago, according to Yardi Matrix’s third quarter National Student…
The Covid-19 pandemic reshaped many of the nation’s housing markets, including places once mostly thought of as seasonal destinations.An analysis by The Business Journals of pricing trends among ZIP codes with a minimum median home value of $250,000 and a population of at least 5,000 found some of the nation’s hottest housing markets are tourism…
According to a new study from Rent., after nearly two years of constant rent growth, the national median rent price was less in May than it was a year ago. The -0.57% drop in yearly prices marked the first time prices went negative since March 2020. Yearly rent growth has been decelerating for nine months…
A recent study has found that Scottsdale is one of the best places for renters for 2023, while a separate report found that the Valley has seen some of the largest year-over-year rent decreases in the nation. Scottsdale came in at No. 3 on RentCafe’s Best Places for Renters to Live in 2023, coming in…