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Arizona "Slumlord" Legislation
Arizona's "Slumlord Legislation," effective August 6, 1999, requires statutory agents for:
Out-of-State Owners:
All owners of Arizona residential rental property (including mobile home parks), who live outside of Arizona MUST appoint and maintain an in-state statutory agent. The law provides mandatory fines for failing to comply (see below).
Every corporation, limited liability company, partnership, limited partnership, trust, or real estate investment trust that owns residential rental property (including mobile home parks), must have a statutory agent. Each of these entities already has a statutory agent (must be appointed when business entity is first formed), but additional information is now required to be sent to the County Assessor's Office (not the Corporation Commission or Secretary of State). Your current statutory agent may charge an additional fee for this service. Now is a good time to compare your annual statutory agent fee (see below for fee schedule).
Failure to Comply with the new law results in $1,000.00 fine, plus $100.00 fine per month.
The exact language of the new law states: "A person who fails to comply with any provision of this section shall be assessed a civil penalty of one thousand dollars, plus an additional one hundred dollars for each month after the date or the original violation until compliance occurs. The court shall not suspend any portion of the civil penalty provided by this subsection." A.R.S. Section 33-1902(E).
COMPLIANCE IS EASY !
The Casler Law Office handles real estate and contract law, and now offers affordable* statutory agent services. Carlton C. Casler, owner of the Casler Law Office and Casler School of Real Estate, is an attorney at law, a real estate agent, a landlord, the author of the Arizona Landlord's Deskbook and the Tenant's Survival Guide, and is one of the leading authorities on landlord/tenant law in Arizona. You will not find a better qualified person to serve as your statutory agent. In addition, you will not find a better fee schedule.* Upon request (see "Appointment of Statutory Agent" form, below), the Casler Law Office will act as your statutory agent and provide the required information to the appropriate County Assessor's Office. Updated information (which is required by law to be reported within ten days of any changes by the owner of residential rental property) will be sent to the County Assessor's Office without any additional charge.
*(The annual fee for many statutory agent is $120.00 or more. See below for the Casler Law Office fee schedule).
Take action now! Failure to comply may be very costly.
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