The property management industry earns $88.4 billion a year and is growing. More landlords are hiring property managers to help with their investments each year.
Renting out properties can be a full-time job, this can be both time-consuming and costly. If you need information on Northern Virginia property management, find out more here.
Why Property Management?
Owning a property can end up being a full-time job. Owning a range of properties and trying to manage them all is no doubt time-consuming.
This is why property investors are turning to property management companies to help.
The property management industry is continuing to grow. Not only can property marketers help you find tenants to rent your home, but they can also manage the day-to-day tasks needed.
The cost of property management ranges depending on a few factors. You can expect to pay different amounts based on your location, the size of the property, and how many properties all alter the pricing.
Property management is no longer only about keeping your property maintained. Expect a full team of professionals working to make your property occupied and maintained at all times.
Northern Virginia Property Management
The cost of living in Northern Virginia is generally more expensive than the average cost in the US. Rental prices may be higher in northern Virginia. This will affect property management prices.
Property management companies can charge flat rates or a percentage per month. If it is a percentage, you can expect to pay between 8-12% in fees to your property management company.
You can also pay a flat fee rate if you are a first-time customer of a property management company. This is usually inexpensive in the long run and worth the money to make sure your business runs well.
There is no right or wrong to flat fees or percentage based fees with property marketing agencies, they tend to work out at a similar cost per month to you as the investor.
What To Expect
Rental property management costs can vary depending on your circumstances. You may think they only manage your finances, but they also help with tenant placement and marketing.
Finding tenants is tricky when you are managing more than one household. Property management fees may include tenant placement. This includes sorting all the paperwork for a new tenant.
Your property marketer will also ensure that your tenants have been through a screening process. This can show that your tenants will pay their rent on time and keep your business running well.
A property marketing company can also help with rent collection, maintenance, and more. Be sure to consult an expert if you are looking to reach out to a property marketing agency.
Find a Property Manager
Northern Virginia property management prices are like many other places across the US. The prices will alter to match the rental prices in the area.
If you're looking for a property marketing company in the area, you can discover your rental profit by completing a free rental analysis here.
