There are just 2 reasons a rental doesn't rent quickly in the Phoenix market right now:
#1) the asking rent is too high
#2) the property isn't marketed correctly
I've rented 30 homes this year alone, and the longest one took me 40 days. My average marketing time is under 2 weeks. I market correctly, and I know how to price a rental. If that's the kind of help you are looking for, feel free to contact me.
Did you spend $200 advertising for sale or lease? Most of the paid sites for leasing are worthless for individual owners. If you're putting it up for lease make sure the price is competitive by doing a rental survey and that you have someone local to keep an eye out on the property.
It sounds like you have already figured out the best option. I am personally not familiar with that zip code very much, and there would be a lot of things an agent would need to know in order to be able to help you.
Please give us more info, or send me a note and I will find an agent or firm that handles property management in the area you need.
The rental market is NOT strong, contrary to other posters misinformation. Currently the metro has about 11% vacancy rate, and rents actually slopped $5 per month over the last quarter.
That being said, a proper price and accesability should get it rented. You need it advertised every day on craigslist, and you need a local agent as in 'lives very near your house' who would be wiling to manage it for you. I'm not soliciting, I don't manage rentals that far from where I live, it simply isn't worthwhile business.
MOST rental management companies plain suuck. THey will put it on the MLS and that is that, you need someone who will take a more active interest in getting it rented.
There are quite a few rentals in the market, however price and property condition are what renters are looking for.
A lease to own option is a possibility or you may want to price it correctly and sell it. I will be selling one in the 85022 zip code and am very familiar with the market in this area. Feel free to contact me if you have any questions.
Another option will be a lease-purchase, which is becoming very popular know that the lending standards are thight.
Hope that helps.
You can look into an investor buying this property or taking over your payments if there is equity there. I specialize in doing this so let me know if you want to find out more info on this option
Prudential American has a good property management division which could assist you with leasing the property. Call Alana Bell on 480-966-9030 and she will tell you what the prospects are and discuss the rental market generally. The rental market is pretty strong at present.