Hamilton vs. Nearby Cities
Hamilton features a versatile real estate market that may offer three-bedroom homes listed for around $100,000 right next to properties of the same size for nearly $300,000. While the city’s median sales price may drop below $200,000 at times, it always rebounds to more than $220,000. The biggest spike in nearly five years hit in mid-2018 when the median sales price jumped close to $240,000.
These prices are slightly higher than the real estate prices about 30 miles north in the Cincinnati metro area. The median price per square foot is often around $120 in the metro area, but that figure can get close to $150 in Hamilton.
Hamilton Property Managers
Managing a rental property takes a lot of time and consistent action, but property owners don’t always have the time to spare. This is why they hire property managers in Hamilton. A dedicated manager handles daily interactions with tenants, which may include overseeing property management and repair projects.
Hamilton Property Management Fees
In addition to keeping money on hand for maintenance and repair, property owners will pay a management fee that may go as low as 4 percent or as high as 14 percent of the monthly rent collected from tenants. The exact amount charged depends on the services offered and other factors.
Ohio Landlord/Tenant Laws
- There is no limit to the amount Ohio landlords may charge tenants for a security deposit.
- Landlords have 30 days following the move-out date to return a tenant’s security deposit.
- Landlords must serve tenants a three-day quit notice before starting the eviction process.