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.
Central AZ Real Estate
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