Guide to Annandale Real Estate

Property owners depend on our tiny real estate business to take care of their properties in Annandale.

• Do you reside and work not far from your rental property? Northern Virginia and to a certain extent Annandale is a very transient community. Northern Virginia has more than our share of military, diplomats, State Department, political appointees and academia.  If you're getting transferred across the country or around the world, it might be a good idea to let a professional manage your rental. Even simple tasks can get complicated very quickly when you aren't around to manage the details.
• Do you want to handle the details of rental management? Some landlords enjoy the challenge of finding reliable tenants. Some landlords think that dispatching handymen and managing handymen is fun. Therefore, they like taking late night calls. But, if you don't need another job, you may not want the work of managing your own investment. When, you want little or nothing to do with the routine management of your properties, you should probably consider hiring a property manager to manage your investment.
• Do you want to fight with your tenants? If you have tenants, eventually you will have to deal with problems. Even if you find hands-on management rewarding of the property, you may not find dealing with your tenants is a joy. More importantly, if you're not a trained rental property manager, you can get in deep trouble in a hurry if you don't know tenant's right. If you've already got a full-plate, then the last thing you want is more to worry about. Hence, hiring a property management company may be a good (and tax deductible) expense.
• Can you afford the cost? Let's face it. employing a property management company is much more attractive choice if if your cash flow is positive.  If monthly cash-flow is not a problem, you'll likely save money by hiring a rental property manager and writing off the expense.  But if at the end of every month cash is tight, you might not want to pay a property management company.
• Can you afford the risk? Do you understand the Virginia Residential Landlord Tenant Act? Do you understand the tenant's rights? Do you know your duties?  The more you know about rental property management in today's litigious society the more you'll understand the benefit of having an expert in your corner.
• Do you have maintenance people? Each investment requires maintenance. If your tenant emails in need of maintenance will you know who to call and what to do in a prompt manner? Do you know which repairs are the real estate investor's responsibility and which repairs are a tenant expense. If not, you might want to consider hiring a property manager.