Riverside vs Nearby Cities
The median listing price for homes in Riverside usually falls around $400,000. The median sales price is typically a bit lower, but prices may increase as home values in southern California continue to rise. The current median home value is around $350,000. These prices are a bit lower than those seen in many nearby cities, including Corona and Anaheim. Median listing prices in these cities are typically well above $500,000 with median home values firmly above $400,000.
San Bernardino is located about 10 miles northeast of Riverside, and the median listing price is often around $250,000 for this city. Residents willing to live about 40 miles to the south can enjoy higher property values in Temecula, but that comes with a median listing price pushing $500,000.
Riverside Property Managers
Property managers make it easier to keep up with landlord/tenant laws while maintaining rental units that tenants want to rent long term. They can help you design, decorate and price your new rental properties, or you can hire them to oversee existing properties. Either way, you will have more free time while efficiently managing your investments.
Riverside Property Management Company Fees
You can expect to hand over up to 15 percent of your monthly rental payments in exchange for the services of a professional property manager or management team. Some managers will take less than 10 percent, but they may include fewer services for the lower rate. You can expect to pay extra for operational expenses and other services.
California Landlord/Tenant Laws
- The State Department of Health Services provides a handbook about the dangers of toxic mold that California landlords must deliver to tenants in addition to written notice if high levels of mold are contained within a rental unit.
- Landlords who have applied to demolish a rental unit cannot accept tenant screening fees or security deposits for that unit without disclosing the intent to demolish to the potential tenants.