Oakland vs Nearby Cities
Oakland is a part of the San Francisco Metro Area and is separated from San Francisco by the bay. While the median listing price in San Francisco can spike over $1 million at times, the median home price stays closer to $600,000 in Oakland. This is one of the rare cities that may sometimes boast a median listing price that is substantially lower than the median home value. Renters can expect to pay an average of $3,000 per month in most cities near the bay, so the cost of living is above average for renters and homeowners. Those looking for a bargain can look in nearby cities like Concord and San Leandro. The median home prices are closer to $500,000 in these cities.
Oakland Property Managers
A property manager serves as a representative of a landlord or real estate investor. They will at least handle the day-to-day operations to keep the property functional and productive. Full-time, dedicated managers often handle everything from accounting and tax preparation to overseeing maintenance and repair projects.
Oakland Property Management Company Fees
Most property managers charge no more than 14 percent of the rent collected from a rental property each month. This fee is often below 10 percent, and most managers will negotiate according to the services included in the contract. Additional charges often apply, including leasing and vacancy fees.
- Tenants can file a lawsuit for up to $10,000 in damages if a landlord fails to return their security deposit in a timely manner.
- Landlords have up to 21 days to return a tenant’s security deposit once the tenant moves out of the rental unit.