Guide to Oakton Real Estate

Our Rental Management Services Prоvіdеѕ Pеасе оf Mіnd For Investors in Oakton

While you will find significant advantages from hiring a property management company, there is also an associated expense with employing a property management company. In addition to the costs of rental management, there are other reasons why rental management might not be for every landlord. Consider the following factors to determine whether employing a property manager would be a good option for your rental property. Factors to consider:

• Do you live and work near your investment? Northern Virginia and to a certain extent Oakton is a very transient region. 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 property management? Some landlords look forward to the task of identifying good tenants. Some property owners find that maintaining a property and managing cleaners is fun. For this reason, they enjoy fielding early morning calls. Still, if you don't want another job, you may not want the chores of managing your own property. When, you don't need the work from the routine tasks, you should probably consider employing a rental property manager to handle your rental property.
• Do you like manage your renters? If you have tenants, eventually you will have to deal with issues. Even if you find hands-on management rewarding of the property, you may not find managing your tenants is a joy. More importantly, if you're not a trained property manager, you can get into trouble in a hurry if you don't understand the law. If you've already got your hands full, the last thing you need is more to worry about. For this reason, employing a property manager may be a smart (and tax deductible) expense.
• Can you afford the cost? Let's face it. employing a property management company is much more attractive choice if you can afford it.  If monthly cash-flow is not a problem, you'll probably save money by paying a property management company and writing off the expense.  But if at the end of every month cash is tight, you might not want to engage 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 understand your duties?  The more you know about rental property management in today's litigious culture the more you'll know the value of employing a professional in your corner.
• Do you have maintenance people? Each rental property must have repairs. When your renter emails for repairs will you know who to call and what to do in a prompt manner? Do you know which repairs are the landlord's responsibility and which repairs are a tenant expense. If not, you might want to move toward hiring a property manager.

Learn more about our rental property management services in Oakton and around Northern VA