Medford vs Nearby Cities
Medford is one of the more affordable cities in southwestern Oregon. The city’s median home price is around $300,000 most of the time, and the median price per square foot is around $200. These prices are comparable to many surrounding cities, including Grants Pass. Both of these cities feature median home values around $200,000. Buyers with more substantial housing budgets may look in some higher-priced neighboring cities. For instance, the median listing price is often around $500,000 in Jacksonville and Ashland. Median home values in these cities often double those seen in Medford.
Medford Property Managers
Property managers are responsible for maintaining the integrity of rental properties. These real estate professionals may help property owners and real estate investors set the rental rate for each unit while recommending renovations and upgrades to make the property more valuable. Managers may also collect rent and oversee the daily operations of the property.
Medford Property Management Company Fees
Most property owners pay their managers less than 10 percent of the gross rent collected from all tenants. This rate can drop as low as five percent or rise close to 15 percent, depending on the services included in the contract. The condition of the property may become a determining factor as well.
Oregon Landlord/Tenant Laws
- If a landlord fails to return a tenant’s security deposit or takes illegal deductions, the tenant may file a lawsuit worth up to $10,000 in damages.
- Oregon landlords must give tenants three days to pay overdue rent or vacate a rental property before they can initiate the eviction process.