San Luis Obispo vs Nearby Cities
San Luis Obispo is located less than 40 miles north of Santa Maria on the California coastline, but the city features much higher real estate prices. While the median listing price tends to stay around $400,000 in Santa Maria, it’s common to see the median listing price in San Luis Obispo jump over $650,000. There are many surrounding cities that command even higher prices. For instance, the median listing price in Templeton can go as high as $850,000. In Morro Bay, it’s common to see the median listing price around $700,000. Buyers can easily pay an average of $400 or more per square foot in these cities.
San Luis Obispo Property Managers
When a property owner is unavailable or unable to properly manage a rental property, they hire a property manager. The manager reports back to the owner and is responsible for maintaining the property and keeping rental units occupied. This includes overseeing repairs and collecting rent from tenants.
San Luis Obispo Property Management Company Fees
Property managers typically charge around 10 percent of the monthly rental rate for each unit managed. The exact percentage will vary, depending on the services provided and any special needs of the property. It’s important for property owners to know what services are included in the management fee because additional services come with added fees.
- California landlords cannot charge more than twice the monthly rental rate when demanding a security deposit.
- Once a tenant turns in the keys and vacates a rental unit, they should receive their security deposit refund within 21 days.
- If a landlord decides to deduct from a renter’s security deposit, they must provide notice in advance.