Salt Lake City vs Nearby Cities
The median listing price for homes in the Salt Lake City Metro area is around $200 per square foot, but the median listing price in Salt Lake City is over $300 per square foot. With a median listing price around $420,000 that is expected to go even higher in the future, this city commands some of the highest real estate prices in northern Utah. In nearby Ogden, the median listing price is below $250,000, and median listing prices in West Valley City and Provo are around $300,000. Renters can expect to pay a median rent price of $1,000 in most of these cities with slightly higher prices in Salt Lake City.
Salt Lake City Property Managers
Property managers are given the right to act on behalf of property owners with specific terms identified in a contract. This often includes communicating with current and prospective tenants, collecting rent, assessing late fees and serving legal papers. Some managers will also market the property and set competitive rental prices.
Salt Lake City Property Management Fees
The basic property management fee is generally around 10 percent of the total rent collected from tenants each month. Additional fees are charged if the property manager is responsible for finding and recruiting new tenants to keep rental units occupied. Property owners are still responsible for routine operational expenses.
Utah Landlord/Tenant Laws
- The State of Utah places no restraints on the amount landlords may charge tenants for the security deposit.
- Landlords must give tenants a minimum of three days to pay their outstanding rent or vacate the property. If they don’t pay or move, the landlord may file for eviction.