Baton Rouge vs Nearby Cities
Louisiana residents unhappy with real estate prices in the New Orleans area may consider moving about 75 miles north to the Baton Rouge area. While the median home price in New Orleans is often around $300,000, it’s much closer to $200,000 in Baton Rouge. While renters typically pay a median of $1,500 per month in New Orleans, the median rent price is much closer to $1,200 in Baton Rouge. Most of the cities close to Baton Rouge have similar real estate markets. The median listing price in Ponchatoula is around $200,000, and the median listing price in Lafayette is around $220,000. Even lower prices are found in Opelousas, where the median listing price is around $150,000.
Baton Rouge Property Managers
Professional property managers offer real estate investors and homeowners real estate expertise as well as managerial skills. They are responsible for maintaining rental properties and may help determine appropriate rental prices for apartments, condominiums and rental homes. Most residents interact with the property manager more than the property owner.
Baton Rouge Property Management Fees
Property management fees tend to fall between eight percent and 14 percent of the gross rent collected from all rental units. Real estate investors and homeowners with multiple rental properties often negotiate a lower rate than those with single properties. Most contracts also include leasing fees and other expenses for the owner.
Louisiana Landlord/Tenant Laws
- Once a tenant turns in their keys and vacates a rental property, the landlord may take up to one month to return the tenant’s security deposit.
- There is no limit to the amount that a landlord may charge a tenant for a security deposit on a rental unit.