Ryan HarjuAssociate Broker · Keller Williams Integrity First Realty
Rent minus everything.
You want to know whether the rent covers the house, not whether the listing photos look good. I’ll run the math with you, tenant in place or not, and I’ll tell you when the answer is no. Then we go find one where it isn’t.
Mesa, Gilbert and Chandler each have about three months of single-family homes for sale, the tightest supply among the 18 largest Valley cities, so the priced-right rentals are not sitting around waiting for a discount (Cromford Report / ARMLS, data 9/15/26, analysis mine).
Investor guides
8 written so far. One new guide a week.
InvestorsRental math: rent minus everythingThe East Valley rental math worksheet: real rent, vacancy, taxes, insurance, HOA, reserves, management, and what is actually left before you write the offer.
InvestorsBuying a rental with tenants in placeWhat the seller must hand over, how rents and deposits transfer, and what ends at closing when you buy a tenant-occupied home in the East Valley.
InvestorsHow to read a rent roll before you buyWhat a rent roll shows, the lines that mislead, and how to check it against the leases, deposits and tenant files an Arizona seller must hand over.
Investors2 to 4 unit multifamily in the East ValleyBuying a duplex, triplex or fourplex in Mesa, Tempe or Chandler: the extra disclosure, the rent roll you are owed, and the different math.
InvestorsShort-term rental rules in the East ValleyShort-term rental licenses, registration and tax steps in Gilbert, Chandler, Mesa, Queen Creek, Tempe and Scottsdale, checked against each city’s own site.
Investors1031 exchange timing in the East ValleyHow the 45-day and 180-day exchange clocks fit around Arizona contract deadlines when you sell one East Valley rental and buy the next.
InvestorsBuying East Valley rentals from out of stateHow remote buying works in Gilbert, Mesa and Chandler: notices by email, inspections you skip, and the Arizona registrations owners can’t.
InvestorsSelling a rental portfolio in the East ValleySelling several East Valley rentals: package or one at a time, how leases and deposits move, what portfolio buyers check, and disclosure per property.Rent minus everything, run on a real property before you write.
Tell me the price range and city and I’ll send it within one business day. If you would rather talk first, call or text (602) 610-3172.
Questions investors people ask
What kind of return should I expect?
I won’t give you a number, and you should be suspicious of anyone who does before running the sheet. The Arizona market conditions advisory says brokers don’t advise on property as an investment and that the return, taxes and financing terms are the buyer’s responsibility. What I will do is run the subtraction with real comps and real rent comps, so your CPA and you can judge the return on honest inputs.
If I buy a house with a tenant in it, what do I get from the seller?
When the income property addendum is part of the contract, the seller has five days after acceptance to hand over the rent roll, the deposit list, copies of the leases and applications, and any service contracts. Rents are prorated to closing. Tenant deposits are either credited against your cash at closing or paid to you, whichever box is checked. The seller’s property management agreement ends at closing, so you start fresh with a manager or without one.
I live out of state. Can I buy remotely, and what do I need on file?
Yes. The contract allows notices by email when addresses are given, and I can walk the inspections for you. Once you own it, the lease owner’s advisory says an out-of-state owner must designate and record an Arizona statutory agent, and it cites a $1,000 penalty plus $100 a month for not doing so. If you’re outside the U.S., the advisory says a manager must withhold 30 percent of gross rents unless you’ve given them a Form W-8ECI. Talk to your CPA on that one.
Is there rental tax on a long-term lease?
The current Arizona lease form notes that as of January 1, 2025, cities and towns may no longer charge transaction privilege tax on residential leasing, and a landlord may not bill the tenant any amount traceable to that repealed tax. Short-term rentals are the exception; the form says they still pay. Confirm your own situation with your CPA.
How much can I collect as a deposit?
The lease form caps security, including prepaid rent, at one and a half months’ rent, though a tenant may volunteer more. Refundable deposits can’t be used as the last month’s rent; the form says so in capitals. After the tenant moves out and asks, the owner’s advisory gives you fourteen business days to send an itemized list of deductions.
Can I run it as a short-term rental?
That depends on the city and the HOA, and both change their rules. The seller’s disclosure statement asks whether the seller is aware of any regulations on rental length, and the CC&Rs can restrict it separately, so we read both during the inspection period. Rules like these deserve a date on them, and I’d rather you confirm with the city than trust anyone’s summary, including mine.
Ryan Harju · Associate Broker · Keller Williams Integrity First Realty · Each office is independently owned and operated.