Billings, MT: Magic City
Billings has an estimated population of 117,116 residents, making it the most populous city in Montana. It also acts as the seat of Yellowstone County. Nicknamed “Magic City,” Billings is known for its swift economic growth. Today, the city serves as the location of many companies’ headquarters. Other nicknames for the city include “City by the Rims,” “Montana’s Trailhead,” and “Star of the Big Sky Country.”
Aside from a thriving economy, Billings is home to a diverse arts and culture scene. There are several museums in the city, including the Yellowstone Art Museum and the Western Heritage Center. There are also a number of performing arts venues such as the Alberta Bair Theater, Babcock Theater, and the Billings Studio Theater. Other than that, Billings hosts annual events like the MontanaFair and Billings Artwalk.
Of course, it is hard to talk about Billings without mentioning its many microbreweries. Craft beer plays a huge role in the culture of Billings, with downtown breweries such as Angry Hank’s Tap Room, the Thirsty Street Tap Room, and Yellowstone Valley Brewing Co. Other notable places in the city include ZooMontana, Bighorn Canyon National Recreation Area, Lake Elmo State Park, and Chief Plenty Coups State Park.
The State of Billings’s Rental Market
In Billings, the median listing price for a home is $234,500. This is only a little higher than the national median. The real estate market in Billings is relatively stable. Interestingly, it even survived the housing bust. Along with affordable real estate, Billings is a great place to invest in rental properties due to its decent renter population. In fact, renters make up 37% of the city’s residents.
Image via towncharts.com
It is worth noting, however, that Billings does not boast a high rental rate. The median rent in this city is $863, whereas the national median is $1,097. Though, Billings still commands a higher rate than that of Montana’s median, which is $831.
Image via deptofnumbers.com
Beyond that, the laws in Montana also tend to favor landlords. There are no state-wide rent control laws and eviction proceedings are generally easier for landlords to navigate. For these reasons, property investors would do well to consider buying rental properties in this Montana city.
How a Billings Property Management Company Can Help
There are many rental properties in Billings, whether they come in the form of single-family homes, townhomes, condos, or apartments. As such, the demand for property managers here is quite high. Landlords typically don’t have time to manage their own rental properties or simply lack the expertise required for it. Others live too far from their rentals or just dislike managing them.
This is where a Billings rental management company can help. With professional assistance, rental property owners won’t need to carry the burden of their landlord duties anymore. They can pass on most of the work to a property manager and basically leave it on auto-pilot while simultaneously earning rental income. Below are just some of the services property management companies offer:
- Rental property advertising
- Tenant screening
- Property showings
- Rent setting and collection
- Lease agreement preparation
- Routine inspections (including move-in and move-out inspections)
- Lease terms enforcement
- Maintenance and repairs management
- Tenant support
- Budget management
- Tax preparation
- Eviction assistance
Find the Best Property Management in Billings
Good rental management companies are hard to come by, especially if you don’t know where to look. Begin your search for the best property management company today using our comprehensive online directory. Search by city or state, browse through the list of reliable results and click on any (or all) of them to find out more information.