Things are looking good for rental properties in Phoenix, as the demand continues to grow. In 2015, as indicated in the Phoenix Business Journal, rents increased by 10.9, and more potential tenants are looking for available rental places. Given the number of career opportunities that the state offers and its breath-taking view and offerings for recreational activities, Phoenix can be considered as one of the most viable places to live in the country. The people who are commonly attracted to rent places in the area include young professionals, as shown by the new figure for the average rents for new Phoenix apartments, which have been completed in 2010. The said average rent is $1342 versus the overall average, which is $837 per month.
The following includes a list of the biggest apartment developments made in 2015 in Phoenix and the important trends that are considered by both investors and rental tenants.
LIV AHWATUKEE, 402 UNITS
Liv Ahwatukee is considered the premium investment property of Investment Property Associates. It is catered to accommodate young singles, couples, and families. Liv Ahwatukee is known for one and two-bedroom apartment that it offers. Its latest development includes outdoor recreational and entertainment areas, a business center, as well as a media room. There are also gaming systems and a pool table that will also people find appealing. Smoke-free apartment buildings are now one of the latest trend in rental property industry, and Liv Ahwutakee makes sure that it does get left behind.
ALMERIA AT OCOTILLO, 389 UNITS
People who love their space may prefer living in Almeria at Ocotilla, a resort-style complex owned by Gilbane Development Company. The place boasts of its Spanish-style design and airy apartments with high ceilings. This type of place is perfect for young professionals and empty nesters. The property offset one- and two-bedroom residences, as well as some three-bedroom apartments for families that have a couple of children. There are also pools, spas, landscaped gardens, and outdoor entertainment area. Moreover, the place is pet-friendly and is thus appeals more to people with pets.
SAN MILAN, 388 UNITS
Given its optimum climate, Arizona is a perfect place for establishing resort-style developments, and the developer Mark-Taylor Residential Inc., did not miss this opportunity by investing on building a 388-unit complex. Around 1/3 of the apartments have three bedrooms, though one- and two-bedroom units are also available. This type of development is not only for families. Some of the amenities that can be found in the complex include, a fitness center, pool, spa, outdoor entertainment area, and an exercise area for dogs. Meanwhile, the apartments offered in the complex have 9-foot ceilings and tend to be spacious, following the current trend of high-ceilinged rental units.
CAMDEN CHANDLER, 380 UNITS
Camden Chandler is located near the Chandler Fashion Square Mall, San Tan Village, and Downtown Chandler and is owned by Camden Development Inc. The place has suburban ambience because of its low-rise exterior design. However, the interior of the complex has a resort-style design. There are amenities that appeal to pet owners, and each unit comes with direct access to a lock-up garage. Camden Chandler considers the market consisting of environment-conscious individuals with its electric car-charging stations.
THE MODERNE, 367 UNITS
Moderne can be found at the center of Scottsdale and is owned by JLB Partners. The place boasts of its state-of-the-art exterior and interior designs. It offers 367 units of one- and two-bedroom apartments and most of amenities that people are looking for: a pool, a fully equipped gym, and communal recreation areas. The Moderne also has electric car-charging stations and other leisure facilities, such as restaurants and unmarket shops, that tenants will find to be greatly beneficial to their needs.