How busy is the Mid-term rental market in Arizona?

[Natalie Tran]

I bought a property in Mesa in Sept, 2022 over price. Selling it now seems to be not a good idea as I will lose 50% of my capital. Considering having it for rent month by month and waiting for the equity gain. Having a property management company seems to be a good option for me since I am living out of state. I have talked to Evolve. They gave me very optimistic figures. However, I read some bad reviews about them. 10% service fee from landlord, plus 8% from tenants. Some landlords complained about having no bookings for months. That scared me - a newbie. Could anyone please advise a good management company for mid term rental in Arizona? I see many listings around my place. Some have been on the market for weeks. If you are running a mid term rental property, how is your business? Does the revenue good enough at least to cover the mortgage payment?

Much appreciate for your advise!

[Jonathan Greene]

You have a number of issues in your post unfortunately. You said you can't sell now, but want to wait for the equity gain. When do you think that will be? I don't see that happening any time soon based on your 2022 to now trajectory, but you do want to find a way to make it profitable. Also, if you "see many listings around my place. Some have been on the market for weeks", that doesn't bode well for renting of any kind really. Spending a ton on property management doesn't seem like the best move. To do MTR, you would need to fully furnish it and outfit it for convenience and then get it on Furnished Finder on your own to make it work.