Bozeman vs Nearby Cities
You’ll find Bozeman in southern Montana, approximately 85 miles southeast of Butte. The city is mostly surrounded by small towns and picturesque views of the stunning Treasure State. The median listing price for homes was around $300,000 in 2016 and skyrocketed to over $350,000 in 2017. When single-family homes are isolated, the median listing price is now at $400,000 or slightly higher. This makes the city a bit more expensive than most surrounding cities. For instance, the median listing prices in Belgrade and Three Forks tend to stay around $300,000 or a bit lower. If you venture a bit further away to Butte, it’s common to find median listing prices securely below $200,000.
Bozeman Property Managers
Property managers are responsible for maintaining rental properties so that they’re attractive to tenants and in compliance with all landlord-tenant laws. This includes overseeing standard maintenance duties and rent collection as well as communicating with tenants and screening new applicants. In some cases, a property manager will help design, decorate and price newly constructed rental units.
Bozeman Property Management Company Fees
Property owners in Bozeman can expect to pay an experienced property manager around 10 percent of the rent collected from their tenants. This rate is often a bit lower but can get close to 15 percent if services are added to the contract. Most managers will also collect a leasing fee when they lease vacant units to new tenants.
Montana Landlord/Tenant Laws
- Montana landlords are unrestricted when it comes to determining how much to charge new tenants for the security deposit.
- When a landlord is notified of essential repairs needed in a rental unit but fails to fix the problem, the tenant has the right to pay for the repair and deduct the expense from their rental payment.