Top City Searches in Virginia
Virginia: The Old Dominion
Virginia has an estimated population of 8,654,542 residents. Richmond serves as the state's capital city, while Virginia Beach remains the most populous. Virginia is home to the headquarters of the U.S. Department of Defense as well as the Central Intelligence Agency. In addition to the Old Dominion, Virginia is also known as the Mother of Presidents as eight U.S. presidents have been born here.
In terms of arts and culture, Virginia does not disappoint. There are countless museums in the state, such as the Virginia Museum of Fine Arts
, the Science Museum of Virginia
, the Chrysler Museum of Art
, and the Frontier Culture Museum
. There are also several performing arts companies that operate in Virginia, including the Virginia Opera
, the Virginia Symphony Orchestra
, the Virginia Repertory Theatre
, and the Signature Theatre.
Virginia also hosts a number of festivals throughout the year. These include the Virginia State Fair, the Virginia Film Festival, Neptune Festival, Norfolk's Harborfest, the Folklife Festival, and the Shenandoah Apple Blossom Festival. As for local cuisine, you can't go wrong with Virginia wine and the state-protected Smithfield ham.
Colleges and universities located in the Old Dominion include the University of Virginia
, Virginia Tech
, Virginia State University
, George Mason University
, and the University of Richmond
. Other notable attractions include Wolf Trap National Park for the Performing Arts
, the Birchmere
, Shenandoah National Park
, Arlington National Cemetery
, and Monticello
Understanding Virginia's Rental Market
Virginia has a very attractive rental market. The median sale price
for a home in the Old Dominion is $375,000, representing a 3.6% year-over-year change. Virginia is also home to a large rental population. In fact, 33.7% of the state's residents rent their homes.
Image via towncharts.com
Even with relatively more expensive homes, Virginia still makes for a good investment. Landlords can earn above-average rental income in this state. In 2019, the median rent in Virginia was $1,254, whereas the national median at the time was $1,097. Rent has also been increasing since 2012.
Image via deptofnumbers.com
In addition, Virginia has a pretty good vacancy rate. The state vacancy rate in 2019 was 5.53%. In comparison, the national vacancy rate in the same year was 5.97%.
Beyond that, Virginia has moderately landlord-friendly laws. There is no statewide rent control here, and landlords tend to have more freedom when selecting tenants.
Why You Need Virginia Property Management Services
There is no question that Virginia has a good rental market. With a large renter population, high rent, and landlord-friendly laws, it's certainly on many property investors' watch lists. However, there is more to property management than just earning rental income. Landlords must put in a lot of work into their properties or risk losing tenants or, worse yet, breaking the law.
This is where a Virginia rental management company comes in handy.
With a property manager, landlords can pass on most of their duties to an experienced and licensed professional. A property manager or management company can take over your usual responsibilities. This will leave you with more time and less stress while still earning rental income.
What can a property management company offer you?
- Rental property advertising
- Property showings
- Tenant screening
- Lease preparations
- Property inspections
- Rent collection
- Lease terms enforcement
- Maintenance management
- Tax prep assistance
- Eviction assistance
Searching for Property Management in Virginia
Are you searching for property management companies in Virginia? Being a landlord comes with its fair share of challenges, not to mention taking up most of your time. Rental Choice aims to help property owners like you easily find a property management company. Search our online directory today!