PHOENIX — Soaring rental prices, a shortage of affordable housing, and a mass migration of Americans moving into Arizona have all created to a competitive housing and rental market in Arizona.
An East Valley realtor quickly found that many of his new clients, especially those who had moved here from out of state struggled to find affordable short term rentals to live in while searching for their new home. Some needed a place to stay due to the closing date being later than they hoped for, and many could not afford to pay two mortgages while looking for the next long term investment.
"What I'm seeing right now is a lot of immigrants from California taking advantage of the good housing prices. I see a lot of Colorado traffic coming down, it's a great place considering everything Arizona has to offer. The weather, the amenities, the cost of living," said Mike Mazzucco with Revelation Real Estate. That is when he says he got the idea to invest in a tiny home and two other short term rentals.
The tiny home which is about 300 square feet of space features a kitchen with a gas cook top, a microwave, refrigerator, kitchen sink, walk in shower, a master suite with a king sized mattress, a loft with a queen sized mattress, and a pull out couch.
"Up to six people total can sleep in this puppy," said Mazzucco while giving ABC15 a tour of his tiny home.
Once a person was pre-qualified, Mazzucco offered up his tiny home or one of his other short term rental rooms to clients for free, for up to 45 days.
"A hotel in some of these parts, here in Gilbert you can be paying unto $200 a night. To not only have a place, but to have a place until after you close, that adds to a lot of flexibility and peace of mind for a lot of my clients," said Mazzucco.
You can learn more about Mazzucco's tiny home by clicking here.