Virginia Beach, VA: The Resort City
With 459,470 residents, Virginia Beach is the most populous city in Virginia. Known as a resort city, Virginia Beach is home to beautiful beaches that stretch for miles and hundreds of oceanfront hotels and restaurants. Colleges and universities located in the city include Virginia Wesleyan University, Regent University, and Atlantic University.
Virginia Beach also has a vibrant arts and culture scene. Popular attractions include the Virginia Museum of Contemporary Art, the Virginia Beach Amphitheater, the Military Aviation Museum, and the Sandler Center for the Performing Arts. The city also boasts a number of historic places such as the Adam Thoroughgood House, the Adam Keeling House, and the Cape Henry Lighthouse.
Additionally, Virginia Beach hosts several events throughout the year. These include sporting events such as the East Coast Surfing Championships and the North American Sand Soccer Championship as well as cultural events such as the Neptune Festival and the American Music Festival. Other attractions include the Virginia Aquarium & Marine Science Center, First Landing State Park, and the Virginia Beach Boardwalk.
What Is Virginia Beach’s Rental Market Like?
Real estate in Virginia Beach boasts above-average prices. The median listing price for a home in this city is $315,000, but they can go for as high as $11.2 million. While home prices are on the expensive side, Virginia Beach has a smaller renter population compared to most other cities. In fact, only 36% of the city’s residents rent their homes.
Image via towncharts.com
This Virginia city, though, is great for landlords. While it doesn’t have a large pool of renters, landlords can earn good returns. The average rent for an apartment in Virginia Beach is $1,455, and rent has been increasing since 2017. Additionally, only 8% of apartments in this city go below the $1,000 mark.
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Apart from that, Virginia’s landlord-tenant laws are moderately landlord-friendly. The lack of rent control and the flexibility landlords have when choosing tenants to make the place a favorable environment for rental property owners.
How a Virginia Beach Property Management Company Can Help
Virginia Beach is obviously an attractive market for rental property investors. However, buying a rental property differs immensely from managing one. It demands a lot of time and experience to successfully become a landlord. Most people are just not suited to that sort of work or simply lack interest in rental management. That should not deter you from such a profitable investment, though.
The key to your problems is a Virginia Beach rental management company. With professional management, you can cast away all your worries and expect more free time while earning rental income at the same time. What can a property management company do for you?
- Advertise your listing
- Screen and process tenants
- Oversee property showings
- Set and collect rent
- Create a lease agreement
- Perform move-in, move-out, and routine inspections
- Enforce your lease terms
- Manage maintenance and repairs
- Respond to tenant complaints
- Manage your budget
- Help with tax calculations
- File evictions
Looking for Property Management in Virginia Beach?
It is not easy to find a property management company in Virginia Beach that matches your individual needs and budget. You also need to perform a thorough vetting process to ensure you choose the best one. With Rental Choice’s online directory, though, you can simply browse through the available companies in your area. Rest assured that our listings consist of only reliable management companies.