Wichita vs Nearby Cities
Real estate prices in Wichita are slightly lower than those seen in most nearby cities. While towns like Derby and Newton have median home values quickly approaching $200,000 and median listing prices over $200,000, the median listing price in Wichita tends to stay securely below $200,000. While the median price per square foot in Wichita is typically around $100, buyers in many nearby towns pay close to $150 per square foot on average. The median home value in Wichita is often below $150,000, which is a bit lower than values seen in most surrounding cities.
Wichita Property Managers
Property managers are experts when it comes to real estate law and the processes needed to effectively manage rental properties of all types. They often serve as representatives of property owners who are too busy or unqualified to handle the day-to-day operations of a real estate business.
Wichita Property Management Company Fees
On average, a property manager can charge up to 12 percent of the rent collected each month. You can expect to see rates higher or lower than this percentage, depending on the number of properties managed, the condition of those properties and the specific services included in the contract.
Kansas Landlord/Tenant Laws
- Kansas landlords are limited to the equivalent of one month’s rent when charging a security deposit for unfurnished properties. They can charge an additional one-half of the monthly rent for furnished rentals.
- Landlords have the right to charge a pet deposit that is no more than half of the monthly rental rate.