Designing a property management plan that fits your financial goals and helps ease the stress of owning an investment property is no easy task. This is especially true when you’re considering how to navigate the specific real estate laws for the areas in which you own homes. Maintaining your home and tenants in accordance with all local real estate laws will be one of your number one priorities as you rent your home in Fairfax County.
Fairfax County Laws Regarding Your Rental Home
Becoming familiar with all of the legalities surrounding your investment property is an important part of cohesive property management; this knowledge can protect you from making any costly legal mistakes. Some of the key components of real estate law in Virginia are set forth by both the federal and state governments. Separate counties may also have their own guidelines, too. If you plan to hire a real estate manager you’ll need to assess if they are trained in following the guidelines set forth by both the State of Virginia and the county government. Some laws you’ll need to consider are:
Federal Fair Housing Laws
The fair housing laws protect tenants from any form or housing discrimination. This typically happens to potential tenants when they are in the process of renting or getting a loan for a home. Any activity that prevents someone from access to a home which might be based on race, gender, ethnicity, or socioeconomic status would fall under protection from these laws.
As a homeowner it’s important that you understand how to judiciously find the best tenants for your property. A property manager will be able to help you draft appropriate lease terms and rental applications which protect both you and your tenants from any possible discourse involving these laws.
Federal Lead Paint and Toxin Disclosure Requirements
Fairfax County Eviction Guidelines
Eviction of a tenant is a four part process in the state of Virginia which draws out over the course of several weeks. Knowing the ins and outs of the Virginia eviction system will prove valuable information for a property owner. If you have the misfortune of dealing with a tenant who fails to pay their rent, it is crucial that you know which steps need to be taken to recoup your money or remove your delinquent tenants.
Fairfax County Fire Codes and Zoning Ordinances
These laws and codes are set in place to ensure safe living environments for all citizens of the county. These will be guidelines which cover various zoning issues including the number of people allowed to live in a certain residence, how many vehicles and where said vehicles are allowed to part and what kinds of activities are allowed to be practiced on certain properties.
Specifications of the Virginia Residential Landlord and Tenant Act
The Virginia Residential Landlord and Tenant Act works to establish a clear boundary for the rights and obligations of landlords and tenants in Virginia.
According to Virginia Law, all tenants have certain rights when they move in, the whole time they are living in a dwelling and even, before it is okay for a landlord to evict them. The Virginia Residential Landlord Tenant Act, or VRLTA, deals with all residential lease situations unless the landlord is eligible to opt out, and states this in a written lease. Being able to properly navigate these tricky terms is an essential part of signing leases with your potential tenants.
Legal Requirements for Virginia Property Management Companies
Streamlining the rental process to an expert property management team may be one of the easiest options for a homeowner. However, one of the most critical pieces in choosing a property management company to care for your property is finding someone who knows how to follow all the local laws. The professionals you choose should be adept at following all of the legal requirements for the area and making sure that you, as the homeowner, are protected from any legal fallout.
One of the more crucial components of proper property management in Fairfax County is that all leasing and renting of a property must be completed by someone who has a real estate broker’s license. This is because renting your property is considered a real estate activity under current Virginia real estate laws.
If your chosen property manager is planning to rent your home for you he or she will need a current broker’s license.
Some Exclusions to Virginia Property Manager License Law
Property owners can, of course, choose to show their rental units themselves. This would include presenting and preparing the lease, accepting potential applications, security deposits, and collecting rent. However, these tasks might prove difficult for home owners who are investing in real estate in Fairfax county from a distance and require diligent activity from the property owner.
The Virginia Real Estate Board has an easy and convenient licensee lookup where a property owner can quickly and easily assess the licensing status of any Virginia property management team. Before you interview a potential manager for your rental property you should always make sure that they have the appropriate licenses to take care of your home.
Effortless Legal Protection on Your Income Property
You’ll want to find a team of experts who can maintain proper legal standards on a variety of issues faced by homeowners. Thus making sure that you are legally protected from any costly legal fees down the road. For instance, look for a professional management team that will take care of:
- Tenant relationship and communication including documentation of move-in logistics and home inspections
- 24 hour maintenance requests including timely repairs of legally required items as are detailed in the Virginia Residential Landlord and Tenant Act (VRLTA).
- Lease renewals and drafting lawfully correct month-to-month rental agreements
- Correctly documenting and depositing escrow funds from security deposits
- Ensuring full compliance with all local laws
- Acquiring proper paperwork to get your property licensed as a legal rental in Fairfax County
- Collecting rent, documenting funds and depositing to your account
- Generating tax and year-end financial reports
Legally Protecting Our Clients
The bottom line is that managing multiple properties can be a stressful ordeal for homeowners. Managing real estate in Fairfax County requires keeping abreast of quickly changing property law while also ensuring that your tenants’ rights are always being met.
- Local statutes
- Fair housing laws
- Fairfax County and Virginia licensing compliance
Our goal is to make sure you are completely satisfied with our service and ensure that you will not experience any legal complications with your property in the future. This creates an environment where we are protecting you and your investments from start to finish, thus eliminating any costly legal fees caused by errors along the way. Nomadic Real Estate professionals make it a personal quest to completely understand all the details that go into protecting your personal and rental properties in Virginia, Maryland and beyond.
Your Free Rental Analysis
Do you have some questions regarding our property management services or wonder how to get started with the management of your residential property? Contact us today to find out how together we will be a winning team. We will offer you advice and guidance regarding:
- A thorough rental price report to calculate the income potential for your rental property.
- A detailed overview of all of our services.
- Information about our on boarding process and how we offer unique services for your area.
- Professional and experienced guidance on the current rental market.
- Assistance in crafting a personalized strategy to meet your real estate goals.
We’re looking forward to providing you with our superior property management service and are excited to show you how our team will exceed your expectations.