Cincinnati vs Nearby Cities
If you’re searching for low real estate prices, look in the southwestern corner of Ohio. This is where you’ll find Cincinnati, Hamilton, Goshen and many other cities offering median listing prices below $200,000. The median property value in these cities tends to stay below $150,000, and it’s common for buyers to pay less than $100 per square foot for homes in family-friendly neighborhoods. There are some surrounding cities that boast much higher prices and home values. For instance, the median home value in Mason is around $250,000. The median listing price in this city is known to spike close to $400,000 at times.
Cincinnati Property Managers
If you own rental property but don’t have the time, expertise or desire to keep up with the necessary managerial tasks, a property manager will save the day. A property management company will ensure that the bills are paid, the rent is collected, tenant questions are answered and all rental units remain occupied, profitable and compliant with all laws.
Cincinnati Property Management Company Fees
Most property managers charge around 10 percent of the rent collected from the property. This rate can go as low as six percent or as high as 14 percent, depending on the characteristics of the property and the services included in the management contract. Most property owners must also pay for routine maintenance, repairs and other routine expenses.
Ohio Landlord/Tenant Laws
- While the State of Ohio doesn’t regulate late fees for rental properties, landlords must include the amount of this fee in the rental agreement if they choose to charge one.
- Landlords cannot raise the rental rate on a lease spanning more than one month. They must wait until the agreement ends and a new contract is negotiated.