Columbia vs Nearby Cities
Columbia commands some of the highest real estate prices in central Missouri. While the city’s median home value is around $150,000, it’s common to see the median listing price much closer to $250,000. This is significantly higher than the prices seen in most nearby cities. For instance, the median listing price in Jefferson City is often around $150,000, and the city’s median home value is around $120,000. Buyers can find even lower prices in cities like Moberly and Mexico. These smaller towns often feature median listing prices around $100,000, and the home value in Moberly is securely below $100,000. Renters can expect to pay less than $1,000 per month on average in this region of Missouri.
Columbia Property Managers
A property manager is typically the first line of contact for tenants, prospective renters and other members of the community. These real estate professionals can help owners set the best rental prices while ensuring that the property remains clean and attractive to tenants. A good manager can keep rental units full, improving profitability for the owner.
Columbia Property Management Company Fees
Most property owners are compensated through a base management fee plus leasing fees, vacancy fees and other added charges. The management fee is often around 10 percent, with some property owners paying closer to eight percent and others paying as much as 14 percent. The final rate is often based on the needs of the client.
Missouri Landlord/Tenant Laws
- Landlords cannot legally charge more than twice the monthly rental rate when asking for a security deposit.
- Missouri tenants may file a lawsuit for up to $5,000 in damages when a landlord refuses to return their security deposit.
- Tenants are given five days to vacate a rental unit or catch up on rental payments before the landlord can file for eviction.