Kansas City vs Nearby Cities
The median home value in Kansas City tends to stay below $150,000, and the median listing price can get close to $200,000 when consumer demand spikes. These home prices are a bargain compared to nearby cities like Lee’s Summit and Overland Park, Kansas. Median listing prices tend to stay around $300,000 in Lee’s Summit and can get close to $400,000 in Overland Park. Then there are some cities offering lower real estate prices, like Saint Joseph. This city is within 50 miles of Kansas City and often features a median listing price below $100,000.
Kansas City Property Managers
If you’re struggling to keep up with the tasks that keep your real estate business profitable, it’s time to hire a property manager. An experienced manager will serve as your representative when dealing with tenants, enforcing the rules, collecting rent and handling the accounting. They give you the opportunity to enjoy some down time without sacrificing your investment.
Kansas City Property Management Company Fees
Expect an experienced Kansas City property management team to charge approximately 10 percent of the total rent collected from your tenants each month. Some managers will also ask for a vacancy fee, which covers their expenses when one or more of your units are unoccupied. Make sure to get an itemized list of the services included in that basic fee.
Missouri Landlord/Tenant Laws
- Landlords renting out property in a mobile home lot must give tenants a 60-day notice before terminating a lease.
- If a tenant allows a third party to take over their rental property without properly notifying the landlord, the landlord has the right to double the rental rate.