Property Management Blog

Get outside this spring

Happy spring, Virginians! Now is the best time of the year, isn’t it? The weather is warmer, the skies are bluer and everything is in bloom. And after so many months of winter, we’re guessing you’re ready to get outside. But with so many great things to do in our area, you�...

With Inventory Declining and Sales Prices Increasing, What’s a Real Estate Investor to Do?

UPDATED 3/1/2021 As you can see, the craziness of the Hampton Roads real estate market in 2020 has just extended into 2021, with even less inventory which is driving prices up even higher. Sellers are clearly in the driving seat, forcing buyers to offer concessions such as ...

4 THINGS YOU MUST KNOW WHEN RENTING TO MILITARY TENANTS

Landlords often assume that a military tenant is golden! While it is a pretty safe bet that a military tenant will be consistent in paying on-time and taking good care of your property, as with every tenant segment, it is critical that landlords are thorough in their s...

DETERMINING THE RIGHT RENT AMOUNT

Landlords often focus so much on the monthly rent amount that they lose sight of total annual revenue. They make the mistake of starting with their mortgage amount and set the rent amount based on their mortgage plus property management and whatever other expenses they ha...

Emotional Support & Service Animals in Virginia

Disclaimer – I am not an attorney and am not providing legal advice. Always consult with an attorney familiar with your state laws before making decision related to fair housing. There is so much confusion among the landlord and even property management communities r...

The Unintended Consequence of Selling Your House – Subject To the Existing Mortgage”

This is a real-life scenario, but the names have been changed to protect the privacy of the individuals. Imagine my delight when I received a rental application from a sweet older couple who said they have lived in the same home for 20 some years. At first blush that sounds like ...

Landlords: Should you allow pets?

Almost every landlord has had a tenant that owned a pet. From chihuahuas, to kittens, to enormous Great Danes, pets are part of the family to those who raise them. That’s a problem, isn’t it? If you allow pets, there will be damage. If you don’t allow pets, there will proba...

SETTING YOUR RENTAL CRITERIA

(NOTE – This blog will not cover fair housing, although we have a links to fair housing data below for your reference.) WHERE DO YOU DEFINE YOUR RENTAL CRITERIA? Every one of your rental ads and fliers should contain your rental criteria. When pre-screening inquiries, ask e...

Debunking Your Perceptions About SEC 8

Have you had any luck in finding an insurance company that will provide you insurance that will kick in in the event your tenants lose their jobs? Me either, but that is just one of the benefits that SEC 8 offers landlords who participate in the program. Especially in times like ...