Excerpt from: Greater Phoenix trends and statistics
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| August 01, 2007 | | Phoenix Apartments with these amenities rent quicker and for more. | For those of you, like me, who have investment apartments in the Phoenix Valley, this survey might come in handy. Here are some amenities that renters prefer. of course location is very important but other features that were wanted most are: 1. Air conditioning This is a given here in Phoenix, an A/C is a must. 2. Parking. Covered parking is a big plus. Garages don't add too much value and are uncommon as well. 3. Washer and Dryer in the unit. I generally get $40-$60 more per month more if a washer and dryer is included. You will break even in about 14 months if you buy used ones, including additional water used. Take into consideration that when an apartment has a washer and dryer the water use can go up dramatically. 4. Hardwood floors. Instead of hard wood floors I put in engineered panels. I have purchased them for as low as $0.88 per square foot in the big box place. This floor is easier to install and is more forgiving. I have seen my rentals with this floor rent quicker and for more. It will also last longer then a carpet.
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