Chattanooga vs Nearby Cities
Chattanooga sits on the Tennessee/Georgia state line and offers affordable real estate prices to anyone interested in living in the southeastern corner of the Volunteer State. The city’s median home value is securely under $150,000, and the median listing price tends to stay around $200,000. It may rise to around $220,000 at times, but it is still easy for most buyers to find suitable homes listed for less than $100 per square foot. These prices are comparable to many nearby small towns, including Cleveland and Georgetown. Both of these cities offer median listing prices around $200,000. Prices are a bit lower in cities like Whitwell.
Chattanooga Property Managers
Property managers are responsible for keeping rental units in compliance with all laws and comfortable for tenants. They usually collect rent and may start the eviction process when necessary. They serve as legal representatives of the property owner and may authorize repairs and pay bills on behalf of the owner.
Chattanooga Property Management Company Fee
Property managers are typically paid a portion of the rent collected from tenants. This gives them an incentive to keep all units occupied. Most managers also ask for a leasing fee, which covers the cost of advertising and screening new tenants. Other charges may apply for added services.
Tennessee Landlord/Tenant Laws
- When a tenant fails to pay their rent, the landlord must give them at least 14 days to pay their overdue rent before filing for eviction.
- If a tenant is behind on their rent and chooses to move out of the rental unit to avoid eviction, the landlord must give them 16 days to do so.