Raleigh vs Nearby Cities
Raleigh is located in a popular region of central North Carolina and is surrounded by up-and-coming cities with active real estate markets and a long list of job opportunities. This drives up the real estate prices for the area, so it’s not surprising that the median listing price in Raleigh is around $300,000 much of the time. This is slightly higher than prices seen in Durham, but there are some nearby cities with much higher prices. For instance, the median listing price can get close to $400,000 in Wake Forest, and the median listing price in Chapel Hill is known to get close to $500,000.
Raleigh Property Managers
A full-time property manager or management team can handle all tasks necessary to maintain a thriving rental business. This may include marketing and accounting as well as basic services like rent collection and coordinating maintenance and repair jobs. Some managers may also agree to work part-time, handling only select tasks that the owner cannot manage efficiently.
Raleigh Property Management Company Fees
The average price for an experienced property manager is often around 10 percent of the rent collected. That rate may go up or down, depending on the services included in the contract and the size of the property. It’s common for managers to also charge vacancy fees, and additional charges may apply for select services that require more expertise and/or time.
North Carolina Landlord/Tenant Laws
- North Carolina rental agreements must disclose the name of the bank holding the tenant’s security deposit.
- Landlords can ask for up twice the monthly rental rate for a security deposit.
- It is legal for landlords to make pet deposits nonrefundable in North Carolina.