Vancouver vs Nearby Cities
Vancouver rests on the southern edge of Washington and is less than 10 miles north of Portland, Oregon. The city boasts a median home value close to $300,000 and an aggressive real estate market with the median listing price around $300,000 most of the time. These prices are in line with most smaller cities in the surrounding area, including Minnehaha and Walnut Grove. When compared with Portland, Vancouver may seem like a bargain. The median listing price in Portland is often around $450,000, and the median rental price is typically around $2,000 per month. Compare that to a median rental rate much closer to $1,500 per month in Vancouver.
Vancouver Property Managers
An experienced property manager can help determine a competitive rental price based on knowledge of the local real estate market. They can also manage the day-to-day operations of the property while marketing to attract the right tenants. A manager will ensure that a rental property is maintained over time so that it remains profitable and free of law violations.
Vancouver Property Management Company Fees
You can expect a property manager to charge up to 10 percent of the rent collected from your property each month. Most managers will also charge a leasing fee, which includes marketing and other tasks required to find, sign and place quality tenants. Property owners may pay additional fees and should also cover operational costs.
Washington Landlord/Tenant Laws
- Washington landlords have no restrictions when determining how much to charge for a late fee.
- When a tenant’s rent check bounces, the landlord must send a notice of dishonor and wait 15 days before issuing a bounced check fee. This fee can include up to 12 percent interest.