Houston vs Nearby Cities
Houston is located near the southern coast of Texas, which is one of the most expensive regions of the state. The median listing price can get close to $350,000 at times, and it’s common for buyers to pay close to $200 per square foot on average. This is much higher than prices in nearby cities like Galveston and Baytown, which both offer median listing prices closer to $200,000. There are still some nearby towns that boast much higher real estate prices and home values. For instance, the median listing price in Cypress is typically around $300,000, and the median listing price is around $400,000 in Sugar Land.
Houston Property Managers
Property managers take the stress off busy property owners, and they’re an invaluable resource for owners who live far from their rental units. A manager will ensure that the property remains competitive for the local market while handling all communications with tenants. This often includes initiating the eviction process when necessary.
Houston Property Management Company Fees
Property managers can charge up to 15 percent of the rent collected from tenants each month. The average charge is closer to 10 percent in most markets, and the rate can go much lower at times. It’s important to list the exact services included in the management fee because additional tasks will require added fees.
- If a Texas landlord wishes to charge a late fee, they must disclose the fee in the lease agreement.
- Landlords must disclose the name of any third party responsible for managing the rental property. The lease agreement should include the manager’s street address so that the tenant knows who to contact if a problem arises.