Reno vs Nearby Cities
The real estate market in Reno is more expensive than many nearby cities on the western edge of Nevada. With a median home value around $300,000 and a median listing price that can get close to $400,000 at times, buyers can easily pay $200 per square foot or more in this city. Compare those prices to cities like Fernley and Fallon, which often boast median listing prices below $250,000. It’s common for buyers to pay less than $150 per square foot in these cities. There are some nearby cities that do offer prices comparable those seen in Reno. For instance, the median listing price in Carson City tends to stay around $300,000.
Reno Property Managers
A property manager handles the day-to-day tasks that a successful rental business demands. Some may also take on the filing of taxes and other jobs that require some expertise. Property owners often hire managers when they can no longer spend the necessary time maintaining their properties, communicating with tenants and ensuring that their units are up to code at all times.
Reno Property Management Company Fees
A property manager with experience may charge up to 12 percent of the rent collected from a rental property each month. This fee can go much higher or lower, depending on the exact services delivered and the amount of time that the manager must spend at the property. Additional fees are often charged for services not included in the basic contract.
Nevada Landlord/Tenant Laws
- Once a tenant vacates a rental unit, the landlord has up to 30 days to return the security deposit along with an itemized list of deductions.
- If a Nevada landlord fails to return a tenant’s security deposit within 30 days, the tenant may decide to file a civil lawsuit. Tenants are limited to $7,000 in damages.