Syracuse vs Nearby Cities
Syracuse offers some of the most affordable real estate prices in northern New York, and the city has been recognized as one of the least expensive housing markets in the U.S. The city’s median home value and listing price tend to stay below $100,000, and it’s common for buyers to pay $60 or less per square foot. Most nearby cities command higher prices, including Lafayette, Baldwinsville and Camillus. All three of these cities feature median home values around $150,000. The median listing prices for Lafayette and Baldwinsville are over $250,000, and the median listing price in Camillus can get close to $200,000 at times. It’s common for buyers to pay more than $100 per square foot.
Syracuse Property Managers
Most New York property managers customize their services to meet the needs of each client. They may handle only rent collections and tenant assistance for one property while overseeing everything from advertising to maintenance and repairs for another. Most full-time managers provide routine expense and income statements along with reports on the condition of the rental units to keep property owners up to date.
Syracuse Property Management Company Fees
Monthly management fees can range from around eight percent of the rent collected to around 14 percent. Many managers also ask for vacancy fees, and property owners can expect to provide additional funds for maintenance and repair services. The exact services requested will ultimately determine the fee charged.
- New York law requires landlords to return a tenant’s security deposit within a “reasonable time.” This is generally considered no more than 45 days after the tenant returns the keys.
- While the State of New York places no limitations on the amount a landlord may charge for a security deposit, some cities impose restrictions.