Property Management Blog

In most instances, an individual will get started in their careers, get married, have children, and purchase a home before they ever start investing in rental property.  But there are certain benefits that you can enjoy by starting earlier. As a younger investor, you have the advantage of time and more room for taking risks. Conversely, veteran investors have readily accessible resources and years of financial experience.  Read More

Most Richmond area property management companies will tell you that rental property inspections are not an annual or one-time event.  A lot happens during vacancy periods as well as when the property is occupied.  So the importance of these inspections can’t be overstated.  Not only are these inspections important where the condition of the property is concerned; they are extremely important to the landlord / tenant relationship.  It cements the basis of the property management service. Most property management companies will conduct up to 4 inspections over the course of a year, including the following:  Read More

Most property management companies today view their tenants as customers and believe they should be provided a superior level of service.  It’s easy to see why tenants react positively to this type of mindset, especially when you realize that it’s supported by the evidence of tenants who choose not to renew, because of a lack of service.  Those who choose to move and not renew their lease do so because of poor management and responsiveness to their needs or requests for service. That is why it is important to work with a company that is licensed, insured and experienced.   Read More

Landlords and property managers in the greater Richmond area are all too familiar with the tension and conflicts that oftentimes arise between your tenants and their neighbors.  However, when they have a respectful relationship, it can benefit the entire community.  Furthermore, when tenants and their neighbors have built good relationships, it makes the community safer. Unfortunately, not all tenants and neighbors “play nice” and some just can’t coexist peacefully.   Read More

When you first purchased your rental property, you probably did so with the idea that it would be a great way to bring in an extra stream of steady income for you and your family without having to put out a great deal of extra effort. Of course, you, like so many others, soon found out the truth; that owning a residential investment property is a great way to make money, but it also involves a lot of hard work. In today’s busy world, adding even more to our plate is probably not the best idea. Owning and self-managing a property can mean long days, longer nights, tedious tasks, and if you are not careful the expenditure of more money. Maintenance costs, fees, licenses, lost income opportunities, repairs, and possibly even litigation from simple mistakes that can turn bad very quickly.   Read More

As a rental property owner and landlord, there are a number of factors that you have to be concerned with. Besides collecting rents, maintaining the property, and responding to tenant complaints, there are other concerns such as what you need to do if a tenant loses their job.    Read More

One of the more important concerns of property management companies and rental property owners is tenant damage.  While a rigorous screening process can help to reduce the possibility of your property getting damaged by a bad tenant, it’s not 100% guaranteed that it won’t happen at some point in time.  However, there are certain precautions that you can take that will help you avoid a potentially disastrous situation.  The following will help protect your property from tenant damage.  Read More

As overseers of numerous rental properties, property management companies interact with hundreds of prospective tenants on a daily basis.  As the owner of the property, the same also holds true if you are managing it yourself without professional help.  The difference is that there is a higher risk that you will rent to a bad tenant compared to the caliber of individuals that property managers approve for their rental properties. The bottom line is that being your own landlord is not for everybody.  Read More

Computers and the internet have proven to be extremely beneficial for a broad range of businesses in a variety of industries, including real estate and property management.  The use of blogs, social media as well as internet listings enable you to post and share valuable information regarding your rental properties.  Furthermore, utilizing the internet to advertise your properties helps you build a strong online presence while at the same time establishing you as an authority in your field.  Read More

In the real estate industry, the success of a property management company is often measured by the extent of the services they offer the client and their tenants.  One of their responsibilities is ensuring that properties are leased or rented to a better caliber of tenant.  Prior to that, it’s a matter of marketing your property in order to attract a number of applicants for the screening process. And that helps the property owners as they don’t have to worry about the vacancies after they hire such professional agencies.   Read More