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Updated 8 months ago on . Most recent reply

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Rajesh Sharma
2
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5
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Permits/Licenses for rental SFH in Maricopa, AZ for out-of-state investor

Rajesh Sharma
Posted

Hello, 

I live in California, and bought my first investment property (SFH) in Peoria, AZ. Looking for guidance from the powerhouse of knowledge that this community is. Trying to educate myself on all the rules that I need to follow from regulatory perspective before the property is rented. So far I have learnt that we need to do the following:

1) Get a TPT (Transaction Privilege Tax) license. 

2) Register the property as a rental property in Maricopa county records. This will also require a designation of a "statutory agent", someone who is a resident of AZ.

My questions, for now

a) Are there any other initial registrations/licenses that are needed?

b) how much is the TPT that we need to charge on rental of a SFH in Peoria? is it standard practice to charge it from the tenant in addition to the rent? I also read that it will be eliminated starting 1/1/2025.

c) Can anyone be a "statutory agent"? Eg. the real estate agent who helped us buy the property and who is now helping us list it for rent? 

d) Are there any specific legal obligations that the "statutory agent" need to fulfill? To me it seems like the county just needs a local residence address to send any documents to, whenever needed. It doesn't sound like this "statutory agent" is an "agent" as we understand in normal course of day to day life where the agent can bind you with their actions. But please correct me if that is wrong.

Thank you!

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