When we talk to Mesa landlords, it’s often to provide advice and help on tenant issues; finding a tenant, screening a tenant, and handling tenant maintenance requests. Today, we’re talking about something that has nothing to do with your tenants, but with your property. We’re discussing why Mesa agents are required for out of state landlords.
Property Management Mesa: Statutory Agents
Arizona Statute 33-1902 states that all out of state owners have to have their property registered with a statutory agent. A statutory agent can be an attorney or someone with any of the statutory services that are out there. It can also mean your Mesa property management company. I can’t think of a better way for you to meet this requirement than to use a professional management company, which can also act as your statutory agent. Your property manager will then be able to fulfill many roles. The manager will act as your statutory agent and take care of your property, making sure that everything is running smoothly, and there are no problems with your tenants.
Property Management Mesa: Avoiding Fines
Statute 33-1902 states you need a statutory agent, which means a name and address is required with contact information for that agent. If you don’t have this information available, you can be fined $1,000 initially and then $100 per month. That’s not a predicament you want to be in. It would actually cost you less to hire a management company and avoid paying this fine.
The law may seem like a hassle to you, but it is in place, and you need the county assessors to register your property when you’re an out of state landlord. That’s a simple $10 fee. Your property manager can handle the registration for you. Stay compliant with this law, and if you need any help with Mesa landlord advice, please contact us at World Class Property Management. We would be happy to tell you more.