Rochester vs Nearby Cities
Rochester is located on the southern shores of Lake Ontario in northern New York. This region of the state boasts more affordable housing prices than those in the New York City area, and Rochester is one of the most affordable options for buyers. The median listing price tends to stay around $100,000 in this city, and it is known to drop significantly below that figure at times. It’s common for buyers to pay less than $60 per square foot in Rochester. Compare that to nearby cities like Henrietta that feature median listing prices around $150,000.
Rochester Property Managers
Property managers may take over all duties associated with the management and maintenance of a rental property. Others may accept responsibility for select tasks while the property owner maintains control over other duties. It’s important to negotiate a list of services included when talking to a property manager.
Rochester Property Management Company Fees
Property managers may charge as little as eight percent of the rent collected from tenants, but many will charge as much as 14 percent. The rate is often based on the size and condition of the property, but the list of services included in the contract can vary as well.
- For month-to-month leases, a landlord must give their tenant at least a one-month notice if they intend to terminate the agreement.
- Most rental units in New York are covered by rent control laws, so there are rules that landlords must follow when setting rental rates.