Nashville vs Nearby Cities
The real estate market in northern Tennessee exploded in 2016. With new constructions popping up throughout Nashville and surrounding cities, prices soared and home values continued to rise into 2017. In Nashville, the median sales price surged above $300,000 with a median home value around $250,000. These prices are slightly higher than those found in Murfreesboro and Hendersonville, but you might consider Nashville a bargain after shopping for a home in nearby Franklin. With a median home value approaching $450,000, the median home price is often higher than $500,000 in this prestigious city.
Nashville Property Managers
Just managing the financial responsibilities for a rental property takes considerable time and careful attention. When you add other jobs like managing tenants and finding affordable contractors for maintenance duties and renovations, you see why so many property owners now depend on experienced Nashville property managers.
Nashville Property Management Fees
Most property managers base their fee on the amount of rent collected from a rental property each month. This fee is typically around 10 percent but can vary, depending on the extent of services delivered and the location or condition of the property. Some added fees may apply to most contracts.
Tennessee Landlord/Tenant Laws
- Tennessee landlords are unrestricted when it comes to setting the amount of a security deposit.
- Once a tenant vacates a rental property, the landlord is legally required to return the security deposit within 30 days.
- If a Tennessee landlord deducts from a tenant’s security deposit, they must provide the tenant with an itemized list of deductions.