Do you really need a property manager?
Although hiring a property management company has many advantages, there is an expense associated with hiring a property manager. In addition to the cost of property management, there are other reasons why property management might not be for you. Consider the following factors to determine if hiring a property management company would be a good decision for your property. Ask yourself these questions:- Will you live and work near your rental property? Northern Virginia is a very transient area. We have 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 property management? Some landlords look forward to the challenge of finding good tenants. Some landlords find that maintaining a property and managing details is rewarding and enjoy taking late night calls. On the other hand, if you think rental property ownership is a chore and want little or nothing to do with the day-to-day management of your properties, you should probably consider hiring help to manage your property.
- How busy are you? Even if you find hands-on management rewarding, you may not have much time to devote to your property management business. If you’ve already got a full-plate, then the last thing you need is more to worry about, thus hiring a management company may be a good way to spend your money.
- Can you afford the cost? Let’s face it. Hiring a property management company is much more attractive option if you can afford it. If monthly cash-flow is not an issue, you’ll likely save money by paying a property manager and writing off the expense. But if at the end of every month cash is tight, you might not want to hire a property manager.
- Can you afford the risk? Do you understand the Virginia Residential Landlord Tenant Act? Do you know the tenant’s rights? Do you know your responsibilities? The more you know about property management in today’s litigious culture the more you’ll understand the value of having a professional in your corner.
- Do you have access to a network of maintenance people? All properties require maintenance. When your tenant calls you in need of repair will you know who to call and what to do in a timely fashion? If not, yo might want to consider hiring a property manager.
Market Values
Contact us for an accurate assessment of your property values at Sulgrave Manor. Currently for rent at Sulgrave ManorRentals in Sulgrave Manor
$2,950 : 4104 Sulgrave Dr, Alexandria 22309
4 beds, 3 full baths
Living area: n/a
Lot size: 21,800 sq. ft.
Year built: 1959
Days on Market: 0
See more in Sulgrave Manor
Recent Sales at Sulgrave Manor
$497,500 : 4220 Adrienne Dr, Alexandria 22309
Sold on 2017-06-16
4 beds, 2 full, 1 half baths Living area: 1,989 sq. ft. Lot size: 21,000 sq. ft. Year built: 1959See more Recent Sales at Sulgrave Manor
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