Santa Maria vs Nearby Cities
Santa Maria boasts one of the more affordable real estate markets along the coast of southern California. The median listing price is often below $400,000 while many nearby cities have median prices well above $500,000. For instance, the median listing price in San Luis Obispo often soars above $650,000 while the median home price in Nipomo is around $700,000 much of the time. Buyers can find slightly lower prices in cities like Los Alamos, which features a median listing price around $500,000. Those prices are still significantly higher than the housing prices in Santa Maria.
Santa Maria Property Managers
Many real estate investors depend on property managers to oversee the maintenance and occupancy of their rental units. They are typically experienced real estate professionals capable of marketing to attract high-quality tenants, and they can handle all communications from screening applicants and tracking rental payments to hiring contractors.
Santa Maria Property Management Company Fees
Most property management companies charge a base fee that is figured as a percentage of the rent collected from all managed units. Investors with multiple rental properties often bundle all units into one packaged for a single management team to handle. This fee can go up to 14 percent on average, but many managers charge less than 10 percent for most properties.
California Landlord/Tenant Laws
- If a rental unit contains toxic mold that can potentially impact a tenant’s health, the landlord is required to reveal this information in the rental agreement.
- California renters have the right to sue for up to $10,000 in damages if a landlord fails to return their security deposit.