Chico vs Nearby Cities
With a median home price close to $350,000 much of the time, Chico boasts prices slightly higher than most surrounding cities in north-central California. The city’s median home value is around $300,000, and renters can expect to pay an average of $1,200 per month. These prices are substantially lower than those featured in many larger cities along the coast, but they’re a bit higher than nearby cities like Paradise, Red Bluff and Yuba City. All of these cities often offer median real estate prices below $300,000, and buyers can expect to pay around $200 per square foot on average.
Chico Property Managers
An experienced property manager can do more than collect rent payments and assess late fees. They can also oversee the eviction process, create leasing agreements and screen new applicants to fill empty units. Managers are also responsible for maintaining rental units and outdoor living spaces for cleanliness, safety and appearances.
Chico Property Management Company Fees
Property owners can expect to compensate their manager with a percentage of the rent collected from tenants. Most managers charge between eight and 10 percent, but that rate is typically set with specific demands of the property in mind. In addition to that fee, most managers will charge a leasing fee.
- If a tenant wants to move a waterbed into a rental unit, the landlord can increase the security deposit by up to half the monthly rental rate.
- Landlords cannot charge non-refundable rental fees in California.
- If a tenant damages the rental property, landlords must give them advance notice of any deductions taken from their security deposit.