Knoxville vs Nearby Cities
You can expect to see median listing and sales prices around $200,000 at most times in Knoxville. It’s common for buyers to pay an average of $140 per square foot in this city, which is comparable to nearby cities like Pigeon Forge. Residents looking for more affordable home prices can look about 25 miles to the west in Oak Ridge or about 30 miles northeast in Jefferson City. Both towns routinely feature median listing prices around $150,000. Most homes in this eastern region of Tennessee feature median home values below $150,000.
Knoxville Property Managers
Property managers are responsible for keeping rental properties in excellent condition for tenants while ensuring that all state laws are upheld at all times. This includes handling routine maintenance duties as well as communicating with tenants and marketing to find suitable renters for vacant units.
Knoxville Property Management Fees
Professional Knoxville property managers can charge up to 14 percent of the rent collected from a rental property each month. This fee typically depends on the services included in the contract, and property owners may pay additional expenses. For instance, marketing and maintenance tasks often come with charges beyond the basic management fee.
Tennessee Landlord/Tenant Laws
- When a tenant is late paying their rent, the landlord must give them 14 days to pay and 16 days to move before they can start the eviction process.
- Landlords can charge a late fee up to 10 percent of the past due amount when a tenant fails to pay their rent by the due date.