Billings vs Nearby Cities
With a median listing price around $250,000 and sometimes spiking a bit higher, the cost of housing in Billings is slightly higher than the national average. Prices have been gradually rising since 2015 and may get close to $300,000 in years to come. These prices are similar to those seen in many surrounding cities, including Laurel. Buyers can expect to pay a median of $200 or more per square foot in both of these cities, and renters are often faced with a median rental rate around $1,000 per month. Buyers also have options for more affordable real estate prices in this region of Montana. For instance, the city of Roundup often features a median home price around $120.
Billings Property Managers
A dedicated property manager can ensure that rental units are filled with quality tenants. They attract those tenants through efficient marketing, but proper maintenance to keep rental units clean, safe and attractive is also important. A dedicated manager can handle everything from bookkeeping and renovations to overseeing evictions.
Billings Property Management Company Fees
Property managers typically charge a monthly management fee plus a leasing fee and other added charges. The management fee is typically around 10 percent of the rent collected from all managed units, but it can go as high as 14 percent or as low as six percent.
Montana Landlord/Tenant Laws
- Landlords in Montana have between 10 and 30 days to return a tenant’s security deposit, depending on the deductions taken from the deposit.
- Landlords must give tenants at least three days to pay their overdue rent or move out of the rental property before they can initiate the eviction process.