Long Beach vs. Nearby Cities
Real estate prices in Long Beach are a bit lower than the prices seen in neighboring cities to the north. While median listing prices in Los Angeles and Pasadena typically fall in the $700,000 – $800,000 range, the median listing price in Long Beach tends to stay closer to $500,000. The median Long Beach home value is typically lower than $600,000, and values in those northern cities tend to go a bit higher.
Santa Monica blows all of these cities away with a median listing price and home value well beyond $1 million. Even smaller towns further inland are known for higher prices than Long Beach. Anaheim is about 25 miles to the southwest and tends to offer a median listing price above $550,000 with home values comparable to those in Long Beach.
Long Beach Property Managers
When maintaining your rental property become more of a chore than a pleasure, it’s probably time to hire a property manager. This professional can ensure that all aspects of your business are covered, from marketing to the right group of new tenants to taking care of the tenants already filling your units.
Long Beach Property Management Company Fees
A reliable property manager will work with you to create a list of basic management services covered for a reasonable fee. This typically means that services not included are charged as additional expenses when needed. The management fee is often determined as a percentage of the rent collected, and you may need to pay a vacancy fee for empty units.
- If a landlord fails to make necessary repairs to keep a rental unit up to legal safety standards, the tenant can move out without giving notice.
- Tenants may also choose to pay for their own repairs when a landlord refuses to keep the property up to legal standards. In this case, the tenant can withhold the cost of repairs from their rental payments.