Milwaukee vs Nearby Cities
Real estate prices in Milwaukee are surprisingly affordable, especially when compared to home prices in many surrounding cities. Positioned on the eastern coastline of Wisconsin, this city offers a median listing price below $150,000 much of the time. Compare that to a median listing price close to $250,000 in Waukesha or a median listing price around $300,000 in Menomonee Falls. Shorewood sits on the coast just minutes from Milwaukee and offers a median listing price around $200,000. All of these surrounding cities command higher home values than Milwaukee, but they also come with a more aggressive cost of living.
Milwaukee Property Managers
When you hire a property manager, you give them permission to take control of your rental property. Experienced managers can handle all aspects of property management, including advertising, tenant screening, accounting, hiring maintenance personnel and contracting for repair services. The manager should keep you updated on the property at regular intervals.
Milwaukee Property Management Company Fees
Most property managers in Wisconsin will charge about 10 percent of the gross rent collected from a rental property. This fee can vary, depending on the services included in the contract and any special needs of the property. Most managers will customize their services to meet the expectations of each client.
Wisconsin Landlord/Tenant Laws
- Once a tenant moves out of a rental unit, the landlord has 21 days to return the tenant’s security deposit.
- Wisconsin tenants have the right to file a lawsuit worth up to $10,000 when a landlord fails to return their security deposit or evicts them wrongfully.