Spokane vs Nearby Cities
Spokane sits on the eastern edge of Washington and offers lower real estate prices than you may see just across the state border. Coeur d’Alene, Idaho, is about 30 miles away and often features a median listing price around $350,000. The median listing price in Spokane tends to stay around $200,000, which is similar to the city’s median home value. These real estate prices are a bit lower than those seen in most nearby Washington cities. For instance, median listing prices in Cheney and Newport are often around $250,000, and median prices in Clayton can get close to $300,000 at times. Renters often pay at least $1,200 per month on average throughout this region of the state.
Spokane Property Managers
Tenants often turn in their rental payments and request repairs through a property manager rather than the property owner. The manager is responsible for handling all repair requests and coordinating landscapers, painters and other contractors. They may also make sure that property expenses are paid on time.
Spokane Property Management Company Fees
Management fees are often based on the amount of rent collected from tenants on a monthly basis. This fee can go as high as 14 percent, but most property owners pay closer to eight percent. Owners must also cover operational expenses and leasing fees.
Washington Landlord/Tenant Laws
- Once a tenant turns in the keys to a vacated rental property, the landlord may take up to 14 days to return the security deposit with an itemized list of deductions.
- If a tenant believes that a landlord kept their security deposit illegally, they may file a lawsuit worth up to $5,000.