The Ashford Advantage

7 REASONS TO MOVE TO SCOTTSDALE, AZ

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Although formal recommendations from the Arizona Department of Real Estate (ADRE) regarding landlords and tenants have not been released, Ashford Management is implementing some common-sense precautions. Our revised policies will continue until either, recommendations from ADRE are distributed or, the CDC indicates extreme measures are no longer necessary. 1. Occupied properties will not be shown. 2. Interior inspections are halted. 3. Service requests for minor, cosmetic, and non-essential items are deferred. 4. Tenants that are showing symptoms are asked to please refrain from engaging with emergency service request vendors. 5. Tenants are encouraged to use our secure FREE online rental payment services through their portal and discouraged from visiting the rental office. While landlords can't control what happens in a tenant's personal unit, they can take a proactive role by providing information. Education is the best defense against the virus, which is why we plan to help our tenants understand best practices- like good hygiene. Our approach will be informative and on-going. CDC recommendations will be posted on the web page. Tenants have also been provided resource links to help with childcare and assistance if work is furloughed. We are monitoring public health recommendations from leading health organizations as well as State and Federal assistance programs that will help Arizona tenants and will provide updates and resource links as appropriate. In general, a tenant isn't required to inform the landlord or mgmt company of a sickness. Due to the unprecedented nature of this issue, we have made an inquiry to get clarification. Until a clear protocol is determined by the appropriate authorities and to reduce liability regarding medical disclosure and HIPPA, Ashford's policy is: If we are informed that a tenant has tested positive, we will note the file. Our owners will not be contacted. We are proud to take these proactive measures to protect our tenants and owners. Ashford works with the highest industry standards in mind, every day.

Since 1997, the State of Arizona has required businesses in most Arizona cities to file and pay all sales tax activity through a transaction privilege tax (TPT) license, also called a sales tax license. The Arizona Department of Revenue’s web page describes the investment/rental business like this: The rental of real property for a period of 30 or more consecutive days for residential purposes only. Residential rentals are a business and are subject to the sales tax rate imposed by the City in which the property is located. Here is a link to see your property’s sales tax rate https://aztaxes.gov/Home/Address/ Individual owners of investment/rental property are required, by law, to obtain and maintain a TPT license regardless of whether the rental/ investment is owner-managed or managed through a property management company. TPT licenses are to be renewed by January 1st. Each license's term is for one calendar year. For example: if you sign up for a license on September 1, 2019, you are required to renew that license by January 1, 2020. Renewal letters are currently being sent by the Arizona Department of Revenue for the upcoming 2020 calendar year. Renewal can be completed online, sent via USPS or arranged for by a property management company on behalf of its client. Arizona does not charge a State sales tax fee, licensing and renewal fees are determined by each City. Here is a link to 2020's renewal rates as well as other helpful TPT license renewal information https://azdor.gov/transaction-privilege-tax/tpt-license/renewing-tpt-license Ashford Management is proficient in matters relating to TPT. Sales tax compliance & filing is included in our management fee. Contact us today to learn more about how we can leverage you.

Here's a tip for purchasing a rental property. Buy where there is a robust supply of renters. Maricopa County / Metro- Phoenix has it all. According to the US Census , Maricopa County is the fastest-growing county, and the city of Phoenix is the fourth fastest-growing city in the US. Bloomberg indicates an average of 220 people move to Metro-Phoenix daily. A compilation of many sources indicates the average rental vacancy rate is back to a pre-recession 6%. Some of the contributing factors are job growth, climate, affordability, location, and rental friendly legislation. Having added over 58,000 jobs last year, Arizona’s growth rate was 3.1%, and it is ranked in the top 10 US States for job growth. The Grand Canyon State's climate boasts an average of 296 days of sunshine per year, which allows for year-round sporting venues, over 200 golf courses, top-notch outdoor recreation events, and a budding foodie scene. Affordability, according to AZ Economy , is better than the US average. RentCafe indicates that Arizona is ranked fifth in the category Best States for Common Renting Issues. Factors for the ranking include, security deposit maximums, security deposit return laws, essential services noncompliance remedies and tenant repair options. All signs indicate that renters will continue to flock to Maricopa County however, there are some predictions that there will be a housing squeeze as rent prices continue to grow and supply of housing stabilizes. Statistics indicate that 36% of the housing inventory for Maricopa County is renter occupied. If you are thinking about renting out your AZ home, contact us today for your free rental rate evaluation.