Flagstaff vs Nearby Cities
Flagstaff is surrounded by national forests in the central region of Arizona. Residents are attracted to the city for the picturesque scenery and easy access to Mother Nature, but they pay well above average home prices for those benefits. The median home value for the city is close to $350,000, and the median real estate price is often above $400,000. Compare that to a median real estate price around $550,000 in nearby Sedona, where the median home value is close to $450,000. It’s common for buyers to pay an average of $200 per square foot in both of these cities, but bargains are often found in nearby Williams.
Flagstaff Property Managers
A property manager can serve as your eyes and ears when you’re unavailable to manage your rental units efficiently. They should know your property well enough to answer tenant questions, screen potential renters, collect rental payments and enforce all rules. They should also ensure that the property is well-maintained over time.
Flagstaff Property Management Company Fees
The average management fee for an experienced property manager is around 10 percent. Some managers may charge more for premium-level services, and many will customize contracts to the needs of each client. Most managers also charge leasing fees, and some will require a vacancy fee for empty units as well.
Arizona Landlord/Tenant Laws
- Arizona law states that landlords should make all late fees “reasonable,” but the law doesn’t specify a maximum dollar amount for these fees.
- Landlords may only increase the rental rate on a long-term leasing contract if the increase is specified in the original contract. Otherwise, the landlord must wait until the contract expires.