Brookfield vs Nearby Cities
Brookfield is a small town that rests between Milwaukee and Waukesha in the southeastern corner of Wisconsin. While the city was home to fewer than 40,000 residents in 2016, it’s real estate prices more than double those seen approximately 12 miles to the east in Milwaukee. While the median listing price in the larger city is often below $150,000, the median listing price in Brookfield is usually well above $300,000. While buyers can expect to see a median price around $175 per square foot in Brookfield, the median price is much closer to $100 in Milwaukee. In nearby Waukesha, the mean listing price tends to stay under $250,000. Renters can expect to pay at least $1,000 a month for most properties in this region of the state.
Brookfield Property Managers
Most property managers have the authority to make decisions on behalf of property owners or investors. Their most basic task is to collect rent payments, but they can also oversee property maintenance to ensure the rental units remain profitable and in line with all official codes. Some property owners visit their properties regularly while others receive routine updates from their managers.
Brookfield Property Management Fees
The average property management fee in most areas of the United States is 10 percent of the total rent collected. This fee can go much higher for high-risk properties or much lower for limited contracts. Owners typically pay an added fee for each new tenant that a manager brings to the property.
Wisconsin Landlord/Tenant Laws
- Wisconsin landlords have no state restrictions when determining how much to charge for a security deposit.
- Once a tenant vacates a rental property, the landlord may take up to three weeks to return their security deposit.
- If critical repairs are ignored by a landlord, the tenant has the right to withhold rent.