Your Guide To Finding The Right Property Manager in Arlington, VA
Smart investors know that hiring a professional property manager comes with a lot of benefits. For instance, property managers protect your investment and maintain its condition.
In a market like Arlington, professional management is especially critical because of the value of many local properties. With a high volume of investor activity in the Arlington market (especially with Amazon HQ2 coming to town in the near future!), the climate is rich with opportunity for property owners, and it is more important than ever to consider hiring a local property management company to find great tenants and fill rental vacancies quickly, ensure proper maintenance of the property’s condition to maintain and boost its value, and manage the day-to-day operations of the property so you’re free to spend your time scoping out more deals instead of responding to emergency work orders 24/7.
Leasing to the Right Arlington Tenants
One of the best reasons to hire a property manager is to help you find the right tenants for your property. You want to make sure you get tenants to love and take care of your property as much as you do! A few things to look for in your tenants are people who:
- Pay their rent on time
- Help you maintain your home
- Follow the terms and requirements of your lease agreement
A good property manager will know how to market your property to ensure you attract the best possible renters. An Arlington property management company will have extensive experience and knowledge of the unique quirks of the Northern Virginia residential market, and will be able to pitch the unique strengths of the neighborhood to help fill a vacancy faster. Additionally, a local property management company will have a network in the area and will be able to leverage their local connections to find great tenants even faster. In addition, professional property managers understand screening best practices, recognize red flags, and follow all state, local, and federal fair housing laws. Strict adherence to tenant screening regulations is crucial to minimize liability for the property owner, and a reputable management agency will stay up to date on all new changes to Fair Housing Laws and will minimize your legal risk by ensuring consistent operating procedures.
Rental Property Repairs and Maintenance
Your rental property will eventually need repairs, even if it’s new or in excellent condition. General wear and tear happens, and times will arise when tenants need something fixed or replaced.
It’s also possible that something unexpected and potentially dangerous will happen, like a fire or a water leak. Unless you’re prepared to be on-call 24 hours a day, you’re better off having a professional management company handle the maintenance of your property.
A good management company will handle routine repairs like garbage disposal issues, broken appliances, slow drains, and other issues. A local management company in Arlington or DC will have strong relationships with the best local vendors, so you’ll never need to worry about finding the right contractor for the job. An agency’s vendor network will help you save money in two ways: 1) Ensuring repairs are done properly the first time, avoiding unnecessary repeat visits, and 2) Negotiating preferred rates and discounts on your behalf.
A property manager can handle landscaping and pool or spa care too. They can also handle snow removal, gutter cleaning, and all other types of routine property maintenance that is crucial to maintaining the value and appearance of your home. During emergencies, we’ll have a trusted network of preferred vendors who can respond as we need them.
Better yet, we’re able to negotiate better rates with vendors because of the volume of work we provide. We have a great relationship with local vendors who will prioritize our work requests and make sure the job gets done ASAP.
Protecting Owners from Costly Mistakes
It’s easy to make a mistake as a landlord, even if you’re an experienced investor. Unfortunately, most of the mistakes involved in real estate and property management are expensive.
If you accidentally violate a fair housing law by charging a pet deposit for a support animal, for example, you can face a fine of thousands of dollars. Incorrectly charging a security deposit for items that are normal wear and tear can also get you in trouble.
Arlington County has specific housing code regulations that differ from the nearby jurisdictions in DC. Arlington even has different code requirements than Alexandria City just a few minutes away. Do you need a BBL to rent out your property? Does your 2 family rental need a Certificate of Occupancy in Arlington? A property manager with experience in Arlington will understand the nuances of these regulatory differences, and will help you avoid fines by ensuring your property meets specific Arlington County standards.
Professional property managers mitigate your risk and protect you from liability. We can help you avoid costly errors and enjoy a pleasant, successful investment experience.