Rentals in 85373>Question Details

Lmwilliams, Home Owner in 85373

How is the rental market in Sun City? I have inherited my granfather's house and will need to renovate to rent. Wondering if it's worth it?

Asked by Lmwilliams, 85373 Fri Jun 15, 2012

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The year round rental market is ok, though fall time is usually better than the heat of the summer. Rates depend on size, age, condition, latest remodel, etc. Not to worry--There are property management companies that will take on the responsibilities and repairs for reasonable fees.
Selling market is also good. Time to sell is generally dependent on condition and price.

I can work up a Market Analysis if you wish.

Regards,
Loren Hoboy-Realtor
Central AZ Real Estate
LHoboy@centralAZhomes.com
Your Local Expert
623-688-0004
1 vote Thank Flag Link Fri Jun 15, 2012
Taking into consideration the fact that you inherited the home from your grandfather, you likely do not have a mortgage. You can generate quick cash from it by selling it but, depending on your financial situation this home may become a steady source of income for you if brought up to date and than rented. You can do well by renting it on 1yr or longer lease contract or you can charge more per month and turn it into seasonal rental. Seasonal rental will require more of an investment because outside of the renovation cost you will incur a cost to properly furnish it. I realize you can use some of the furniture in the house but will it appeal to potential renter that is coming to the valley for couple of months and is willing to pay for it but want a nice place with nice furniture etc. All these things will need to be considered to decide if it will be worth it for you to put money into renovation. In my opinion, if you can afford the renovation and in this up trending market it is worth it to invest. Even if you decided sell it in short period of time you still will make a profit. Right now for the fall/winter 2014 season there is almost nothing available. We need more seasonal rentals. I come from a construction background and still have great connections in the industry. Give me a call and I will be happy to to speak with you about your grandfather's home and if you decide to turn it into a rental I can connect you with reliable people you will need to do the renovation right and on the budget.

Take a look at a recent blog I wrote on the subject of seasonal rental at:
http://www.derekostrovski.com or
http://www.trulia.com/profile/derekostrovski

Derek Ostrovski
Coldwell Banker Residential Brokerage
Sun City AZ
602-309-2344
0 votes Thank Flag Link Tue Apr 9, 2013
Good afternoon. First you would want to check with the HOA to make sure rentals are allowed. If that is an option like the comments below the winter and spring are the prime renting seasons for that particular area. The sale of homes has picked up quite a bit in Sun City with snowbirds wanting to purchase a winter home while the prices in that area are beneficial for the buyer and seller. If you would like to get in contact with me and give me some more info I can put together something that will show you your opportunity for profit for renting or selling and then you could make the best decision based on that. Thanks and have a great day.

Daniel LeClaire
AZ and Associates Real Estate Group
602-803-7367
0 votes Thank Flag Link Sat Jun 16, 2012
Inventory as in most other areas is low - sales happen quickly.
Why do you want to be a Landlord?
Web Reference: http://www.talktosteffy.com
0 votes Thank Flag Link Fri Jun 15, 2012
Well i know the southeast valley rental market is very strong but the main question here is how long you plan to hold it? you imagine selling in the next few years or do you want to hold on to it for long time?
0 votes Thank Flag Link Fri Jun 15, 2012
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