Q: We are purchasing rental properties in Arizona, and we live out of state. I was told by a real estate lady, that anyone who owns rental property within the state, while living out of the state, is required to have a management company manage the rentals. Do you know if this is true? If you do not know, do you know where I find the correct info out? Thanks for you time.
A: I have no idea is having a local address is a requirement to owning rental property in Arizona. If that’s true, it would make it unique among states. I have never heard of this requirement before.
But don’t just take this real estate agent’s advice. Check it out. Call the Arizona department of Real Estate and ask for a list of rules and requirements of landlords. Also, call the local municipality in which your property would be located and ask for the same thing.
Jan. 1, 2004.
(1 votes, average: 4.00 out of 5)
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