Manhattan vs Nearby Cities
Manhattan is slightly more expensive than many surrounding cities in the northeastern corner of Kansas. The median listing price for the city can get close to $250,000 at times, and it’s common for buyers to pay $150 or more per square foot. Compare that to Junction City and Wamego, which are both within 20 miles of Manhattan. These cities feature median listing prices under $150,000, and it’s common for buyers to pay less than $100 per square foot in either city. Manhattan’s real estate prices are even higher than those seen in larger cities like Topeka.
Manhattan Property Managers
Many rental property owners depend on professional managers to ensure that their investment is protected at all times. An experienced manager can handle issues with tenants, routine maintenance and tenant recruitment, but some may also design marketing campaigns, file taxes and handle the accounting.
Manhattan Property Management Company Fees
An experienced property manager will typically charge according to the amount of rent collected from the property. This fee can go higher than 10 percent, depending on the exact services included in the contract. When unusually low percentages are charged, low-quality service is often delivered.
Kansas Landlord/Tenant Laws
- If a Kansas landlord fails to return a tenant’s deposit within 30 days of their move-out date, the tenant may file a civil lawsuit for up to $4,000.
- Landlords cannot charge more than the equivalent of one month’s rent for the security deposit on an unfurnished rental unit.