Virginia Beach is one of the hottest tourist destinations in the United States. According to the U.S. Census, the coastal city carries a full-time population of more than 453,000 people.
For real estate investors, there is even more opportunity in the tourism industry. Virginia Beach visitors pour nearly $4 billion annually into the local economy. The city estimates that roughly 14 million tourists visit each year.
Whether it is a long or short-term rental, you may need a Virginia Beach property management company to handle the demand. Read on to learn the signs that you need a landlord rescue. Explore property management tips that will help you succeed.
Rent Collection Is Down
The economy is not working for everyone right now. Inflation puts a significant strain on renters' finances. As a result, landlords are seeing more tenants struggling to make rent.
A good property management company can help you collect rent. They will put systems in place, like an online tenant portal, that automatically processes monthly payments. There is also an on-time rent guarantee.
Tenant screening is another important element behind improving rent collection metrics. By finding the best tenants, you can avoid missing monthly rent in the first place. Virginia landlord help will include robust screening processes that prevent leasing to criminals and people with poor credit histories.
Maintenance Tasks Piling Up
Are you falling behind on your property's maintenance needs? It is a common occurrence for landlords to have too much on their plates. Signs you need a property manager include broken appliances and home exteriors falling into disarray.
The good news is that a property management company can help. They specialize in property maintenance and upkeep.
Property managers have extensive professional contracts to keep the rental looking good. They may hire a landscaper to mow and fertilize the grass.
Property managers also bring in-service professionals, such as HVAC technicians, to stay current with preventative maintenance. This proactive approach will extend the service life of your appliances and save money in the long run.
Eviction Support
Evictions are another difficult subject for landlords. No property owner wants to remove a tenant from their rental. In this situation, the landlord is losing rental income and needs to find a new tenant.
This is another area where you can lean on a property manager. For starters, they know all the city and state regulations required for the eviction process. They will provide proper notification and comply with all laws.
A property manager will also professionally handle the situation. They handle the uncomfortable act so that you do not have to.
Your Guide to Landlord Rescue in Virginia Beach
You are now ready to bring on a property manager in Virginia Beach. There is no shame in asking for help. Managing a property is time-consuming and complex.
For landlord assistance, Virginia Beach has some reputable options. PMI Virginia has been helping landlords for more than 20 years. If you are looking for a landlord rescue, contact us at PMI Virginia today to speak with an expert.
