Update and Improve the Investment
Make sure you keep the property current and updated. I don’t mean wear and tear such as carpet and paint, but capital improvements you can do during turnovers. For example, you can replace appliances, do some landscaping work, or update a kitchen and a bathroom. These things will keep the house updated. In the short term, it helps you attract better quality tenants and get your home rented faster. In the long run, if you do sell your property one day, you’ll have far less to do than you would have if you didn’t do these things along the way.
Northern Virginia Property Management: Vacancy Times
Keep your vacancy time to a minimum. Every day your northern Virginia rental is vacant is a day that money is not coming in. Make sure you are priced well. Look at other listings that are similar to yours. Don’t check Craigslist because those aren’t accurate or factual. Look at what other property management companies and real estate agencies are listing homes for, and make sure yours is at the fair market value. Pricing slightly under the market rent will also get it rented quickly. Advertise in productive places, and if you’re having trouble with online advertising, think about getting the help of a property management company or a Realtor to get the listing out to other channels. You’ll also position yourself for getting excellent advice on placing a great tenant.
Proper Tenant Screenings
Conduct proper screenings. With the right screening and good tenants, you’ll reduce the risk of nonpayment and tenant turnover. These things cost you money and will drain 
the ROI you can potentially earn.
the ROI you can potentially earn.
These are just a few things you can do to increase the return on your investment. If you need help with your northern Virginia rental property, please contact us at Richey Property Management. We’d be happy to tell you more.
