Birmingham vs Nearby Cities
If you’re searching for affordable housing in Alabama, the Birmingham area is a good place to look. The city’s median home value tends to stay well under $100,000, and it’s common for buyers to pay less than $100 per square foot even in the more desirable neighborhoods. The median listing price is known to drop below $100,000 at times, though it can also spike close to $200,000 when the market improves. These prices are similar to nearby cities like Tuscaloosa, Jasper and Talladega. Rental prices in this area tend to stay around $800 per month.
Birmingham Property Managers
A skilled property manager will apply their real estate expertise to handle the most stressful and laborious tasks necessary to manage rental property successfully. They can balance the books and inspect rental properties after tenants move out, and they’re pros when it comes to attracting suitable tenants to fill empty units quickly.
Birmingham Property Management Company Fees
You can expect to pay an experienced property manager up to 10 percent of the rent collected from your tenants. Most managers will also charge a leasing fee that covers the process of marketing and screening new tenants. You will need to cover operational costs and other services that aren’t included in the management fee.
Alabama Landlord/Tenant Laws
- When setting a dollar amount for the security deposit, landlords in Alabama are limited to the rental rate for a single month.
- Once a tenant vacates a rental unit, the landlord can take up to 35 days to return the security deposit.
- Tenants are limited to $3,000 in damages when filing a lawsuit for the return of their security deposit.