Lompoc vs Nearby Cities
Lompoc offers some of the most affordable real estate prices in southern California. The city offers a median listing price well under $400,000, and the median price per square foot is often around $200. While these prices are similar to those found in Santa Maria and some other nearby cities, most towns in this region of the state command much higher home prices. For example, the median listing price in Solvang is often around $800,000 while the median home price in Pismo Beach can go over $900,000 at times. In nearby Santa Barbara, the median listing price is often close to $1.5 million.
Lompoc Property Managers
Property management fees are often between six and 14 percent of the rent collected from tenants. Investors with multiple properties can often negotiate a more favorable rate than owners of single properties. Leasing fees are also charged to cover the expenses associated with marketing and screening for tenant acquisition.
Lompoc Property Management Company Fees
Property managers charge leasing fees that may go up to one full month’s rent for each new tenant secured. Managers are also paid at least six percent of all rental payments collected on behalf of a property owner. In some cases, this management fee can go well over 10 percent.
- Landlords cannot start the eviction process until they give their tenant at least three days to pay their outstanding rental payments.
- When asking for a security deposit, California landlords cannot charge more than twice the monthly rental rate.
- Landlords have no restrictions when enforcing late payment fees, but the fee must be “reasonable.”