As a property owner, you’ll often ask yourself whether you should hire a property manager or manage your rental property yourself. While it makes sense to manage your own property when you are a highly experienced landlord living close to your rental and also have a lot of knowledge and time on your hands, in many cases, you’d be better off working with a property manager. Here are a few reasons why you should hire a property manager in the Greater Piedmont area and Western Prince William County.
Attracting quality tenants
Finding the right tenants requires a careful and well-established screening process. Not only it requires experience in identifying any red flags, but a proper tenant screening process should also always follow all the tenants screening laws. For example, if you live in the Greater Piedmont area, you should know that several new laws related to fair housing passed the Virginia General Assembly in 2020. The new laws include four more protected classes to the Virginia Fair Housing Act: sexual orientation, gender identity, veteran status, and income source. Hiring a property management company will ensure that prospective tenants are rigorously vetted through criminal background checks, credit reports, employment verification, and former landlord references.
Commanding top dollar for your property
Establishing the proper rental rates is crucial to generating rental revenue and minimizing vacancy rates. Property managers are knowledgeable of the local rates in the Greater Piedmont area and Western Prince William County. They conduct comprehensive market research by analyzing rental prices in those areas. Besides, a property manager will help you make the most of your investment with efficient marketing and rent collection. Lastly, a property manager ensures that maintenance and repairs get handled promptly, therefore, helping you avoid costly repairs in the long run.
Reducing liability & mitigating risk
An experienced property manager will keep you away from lawsuits by ensuring that your property and lease contract comply with federal, state, and local laws and regulations. Like we mentioned above, when screening tenants and leasing out your property, there are several laws regarding discrimination that you need to follow. Additionally, multiple laws exist for evicting tenants and a good property manager knows how to properly handle an eviction process. Furthermore, with the COVID-19 outbreak, additional laws and regulations, including the CARES Act and Eviction, have passed. Having an experienced property management team by your side gives you peace of mind knowing that you comply with all existing and new legal policies and procedures.
24/7 emergency response
Emergencies happen and tenants need a point of contact to call at any time of the day. When that happens, a property manager is there to respond and take action. When repairs are needed, they will be the ones who schedule and handle repairs. Property managers have an extensive list of approved vendors and contractors who are licensed and insured and give discounts for constant repair orders. This will not only results in big savings for you but also take away the stress of dealing with tenant emergencies.
Preserving the value of your rental property
Keeping your property in great shape is crucial to keeping tenants happy. At the same time, a well-maintained rental property justifies the reason for increasing your rent when the time comes. When you hire us, we’ll make sure to keep your property in great condition with preventative maintenance and regular inspections. We take a proactive approach when it comes to preserving the value of your investment. Proactive inspections and consistent maintenance repairs keep extensive fixes away and increase your property’s value in the long run.
Why should you hire VHS Management?
At VHS Management, we take pride in offering high-quality property management services to each landlord we work with. We have over 10 years of experience managing residential properties that consistently attract and keep quality tenants. We serve Culpeper, Warrenton, Gainesville, Haymarket, and surrounding areas. Whether you’re a new investor or have multiple rental properties, we can help you. Give us a call at 540.825.8100 or email us at info@vhsmanagement.com today!
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