Pasadena vs Nearby Cities
Located just outside of the Angeles National Forest in southern California, Pasadena boasts a thriving real estate market with home prices significantly higher than the national average. Los Angeles is approximately 10 miles to the southwest and has a median listing price known to soar well above $700,000 at times. With a median listing price that can go well above $800,000, Pasadena features even higher prices. Many surrounding cities like Burbank and Glendale offer real estate prices around $750,000. It’s common for buyers to pay more than $400 per square foot on average in this area, and renters often face a median rent price around $2,500 per month if not higher.
Pasadena Property Managers
When a property owner is unable to maintain and manage their rental units, they may hire a manager to legally act on their behalf. The manager may handle all aspects of pricing, repairing and managing the property and tenants. This includes ensuring that repairs are handled quickly and efficiently, rent is paid on time and all rules are respected.
Pasadena Property Management Company Fees
Property managers often collect a percentage of the rent collected from tenants in addition to a leasing fee. In some cases, the leasing fee is replaced by a vacancy fee. Property owners must pay all operational expenses as well as added charges for services not included in the standard management contract.
- Landlords may charge up to three times the monthly rental rate for the security deposit on a furnished rental unit.
- If a rental unit isn’t furnished, the landlord may not charge more than twice the monthly rental rate for the security deposit.
- Landlords may take up to three weeks to return the security deposit when a tenant vacates a rental unit.