Berkeley vs Nearby Cities
Berkeley is located in central California on the San Francisco Bay. It is less than 15 miles from San Francisco, and these cities offer comparable real estate prices. The median listing price in both cities is around $1 million and can go even higher at times. Prices in this region of the state are slowly increasing, so homes may go for far more in years to come. It’s common for buyers to pay more than a property is worth due to bidding wars in the area.
Buyers can find some relief in select neighboring cities. For instance, the median listing price in Walnut Creek tends to stay below $800,000, and median listing prices are often below $500,000 in Richmond and San Pablo.
Berkeley Property Managers
California property managers use their real estate and marketing knowledge to keep rental units occupied and profitable. They may handle repairs to ensure that all rental comply with federal, state and local laws while remaining comfortable for tenants. They also maintain landscaping and oversee swimming pools, business centers and other community spaces on the property.
Berkeley Property Management Company Fees
Property managers are typically paid a portion of a client’s rental payments. This fee tends to stay below 10 percent but may go higher for properties that demand more attention. Most managers also charge a vacancy fee or leasing fee to cover their time and the expenses required to market for new tenants.
- When a landlord fails to make necessary repairs to keep a rental unit livable, the tenant has the right to withhold rent and/or call health inspectors to intervene.
- If a tenant is illegally subletting a rental unit in California, the landlord must give them three days to move out of the property before filing for eviction.