Meridian vs Nearby Cities
Meridian has one of the more aggressive real estate markets in southwestern Idaho. The average listing price is often close to $300,000, and the median rental price is typically around $1,500 per month. Compare those prices to nearby Nampa and Caldwell, which both offer median listing prices much closer to $200,000. Median rental prices are often closer to $1,000 in these cities. Boise offers a comfortable middle ground with a median listing price around $250,000 and a median home value around $200,000. It’s common for buyers to pay an average of $100 per square foot if not a bit more in all of these cities.
Meridian Property Managers
Many property owners find comfort in outsourcing management of their properties to experienced real estate professionals. These managers typically collect rent while ensuring that tenants follow property rules and keep their rental units in good condition. The most important job of a property manager is to protect the owner’s investment.
Meridian Property Management Company Fees
Property managers in Meridian typically charge around 10 percent of the rent collected from all managed units. This rate can go as low as six percent in some cases, and it may get close to 15 percent for some properties. The rate often reflects the services included and the demands of the property.
Idaho Landlord/Tenant Laws
- Landlords have 21 days to return a tenant’s security deposit once the keys are returned. That is sometimes extended to 30 days, but the landlord and tenant must agree to those terms.
- If a landlord fails to return a tenant’s security deposit, the tenant may sue for up to $5,000 in damages.