There are many Cities and Towns dealing with properties owned by out-of-state property speculators (absentee landlords) that have purchased commercial buildings and have left them vacant for years and not invested in repairs or redevelopment. Towns like Florence are constantly doing battle with the owners over upkeep of the commercial building exteriors, paint, broken windows, dilapidated canopies, and signage that comes loose dangling over sidewalks, among other issues. These vacant buildings are a drain on Town resources – vandalism, homeless squatters and increased calls for service from both fire and police – and they depress values of occupied downtown buildings and send the wrong messages to visitors and tourists about the health of the city, costing the city even more.
Well it is finally happening – a possible Arizona bill to address the issue of Absentee Landlords! The Arizona League of Cities and Towns is looking at proposing legislation in the next session addressing Absentee Landlords.