Wilmington vs Nearby Cities
Wilmington serves as a middle ground for the premium real estate markets found along North Carolina’s Atlantic coast and the more affordable markets found in cities located more inland. The median home value in Wilmington tends to stay around $200,000, and the median listing price is typically close to $300,000. This is comparable to the housing prices seen in Myrtle Grove, which is located just south of Wilmington.
Housing prices are more affordable if you look in cities to the west like Navassa. This inland city features a median listing price below $200,000. Venture to coastal towns like Wrightsville Beach, and the median listing price jumps to around $800,000.
Wilmington Property Managers
When your rental properties become overwhelming, a dedicated manager can ease the stress. With real estate expertise and managerial experience, professional managers can maximize profit for your rental units. From collecting rent and paying bills to ensuring that your property is well-maintained and in compliance with all laws, a manager can handle all aspects of your business.
Wilmington Property Management Company Fees
Expect to pay an experienced property manager up to 15 percent of the rent collected from your tenants. Many managers will charge closer to 10 percent, depending on the specific services included in your contract and the condition of your property. You may also need to pay a vacancy fee for unoccupied units.
North Carolina Landlord/Tenant Laws
- For rental agreements longer than two months, landlords can charge up to twice the monthly rental rate for the security deposit.
- Nonrefundable pet deposits are legal in North Carolina as long as they are “reasonable.”
- Tenants who are victims of domestic violence are given extra protections against eviction and rental discrimination.