Experienced Northern VA property managers can add huge value to a real state property. That is why a lot of investors believe that a good property management company is really important. Here are some of the ways how property managers earn their keep.
Good Quality Tenants
Property managers conduct a comprehensive screening procedure to guarantee trustworthy tenants who would pay on time, take good care of the property, rent longer, and cause fewer problems.
Competent Northern VA property managers have gone through many applications and know how to determine the truth about applicants and evaluate the given information for any warning sign. If a property manager handles the screening, owners can protect themselves from rental scams and discrimination lawsuits caused by weak screening procedure.
Shorter Vacancy Periods
Northern VA property managers can help in performing several important duties that affect the length of time in filling vacancies.
1. Prepare and improve the property – Property managers suggest and supervise enhancements that increase revenue.
2. Effectively advertise the property – Expert property managers have created lots of advertisements and know where to advertise to get a bigger pool of applicants in a shorter time period. Moreover, they also know how to negotiate to cut the advertising fees.
3. Determine the appropriate rental payment – Knowing the best rate requires expertise in the local market and information on similar properties.
Stricter Rent Collection Method
On-time monthly rent collection is the only way to keep the cash flow consistent, and the tenants have to know that this is non-negotiable. With the help of Northern VA property managers, there is a shield between the owner and the tenant, and they will be the bad guy who chases down rent, listens to excuses, and evict the tenant if necessary.
Fewer Time-Consuming and Expensive Legal Issues
Long-time landlords know that a problematic tenant can cause major financial and legal headaches. Good Northern VA property managers are equipped with knowledge about the landlord-tenant laws and would make sure landlords will not be vulnerable to any possible lawsuit.
Longer Tenant Retention
Losing a tenant costs more than losing rent as there are other more serious issues that go with it. It involves changing the locks, new wall paintings, thorough cleaning, possible small repairs, and going through advertising and screening all over again. This process takes time and money, but it can be avoided if tenants are well cared for and happy. Expert Northern VA property managers have tenant retention strategies that make sure tenants are happy and stay longer in the property.
This is the ideal setup if the property owner gets Northern VA property managers who are knowledgeable, reliable, and are a good match for the property. On the other hand, a bad choice of property management company can cause a lot of problems.
Need assistance with your rental property?
Key Home Sales and Management has a reputation for exceptional, hands-on property management.
Key Home Sales and Management is a premier full service property management company in Northern VA. Our property management company specializes in single family homes, town houses, and apartment units located in Alexandria, Annandale, Arlington, Belle Haven, Burke, Fairfax, Fairfax Station, Fair Oaks, Falls Church, Fort Hunt, Franconia, Kingstowne, Mt. Vernon, Lorton, Olde Town, Springfield, Vienna, and Waynewood area.
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