Home Buying in Buckeye>Question Details

Jon, Home Buyer in Buckeye, AZ

az51resurrect@gmail.com

Asked by Jon, Buckeye, AZ Tue Jul 31, 2012

How Many rental properties / non-owner occupied properties through out the Sundance, Windmill & other Planned communities in the 85326 zip code are legally allowed by city, county, state regulations. 07-31-12

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Most Single Family HOA do not or can not prohibit rentals. The last I heard is that to retro actively amend your HOA to restrict rentals in AZ is virtually impossible. Just to be sure, read the CC&Rs during your 10-day due diligence period and then check with a real estate lawyer to see if the restriction clause is enforceable in AZ - many are not.

The AZ Cities and State do not limit the number of rentals. In the average most communities have about 30% rentals, similar to the national average. Some blocks in in Buckeye may have more rentals. While the State tracks rentals (for tax reasons), this data is not accurate as some landlords do not report.

When you get into Condo, the rules of the HOA CC&Rs are more likely to have restrictions. One concern in the condo property is once the number of rental units go above 50%, you cant get FHA loans and other lender overrides often follow suit and wont lend to buyers. Be sure to check with your lender and real estate buyer's agent on any specific property. The HOAs will often know.

Loren Hoboy-Realtor
Central AZ Real Estate
LHoboy@centralAZhomes.com
Your Local Expert
623-688-0004
1 vote Thank Flag Link Tue Jul 31, 2012
Thanks for posting a great question! There won't be that many restrictions at the city, county, or state levels. You will have to register the homes at rental homes on the tax records and set up some other licenses for tax reporting. The Homewoner's Associations would be the most restrictive and these requirements would be called out in the CC and R's for each community. Some HOAs will restrict the percentage of homes in the community that can be rental homes versus owner occupants. Are you negotiating a bulk purchase with a lender? If you would like to send me more details about the number of homes and subdivisions where the houses are located, I can begin doing research for you. I am a very experienced property manager and can help you with analyzing the licensing, city sales taxes, and coordinating with the HOAs as well as tenant placement and property management services.
0 votes Thank Flag Link Tue Jul 31, 2012
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