Property management company

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wxz76
Posts: 95
Joined: Sat Jun 09, 2012 1:10 pm

Property management company

Post by wxz76 » Sun Jun 03, 2018 11:24 pm

Does anyone have a recommendation for a property management company in the Northern Virginia area? Thanks!

boglerdude
Posts: 817
Joined: Fri Jul 10, 2015 1:28 am

Re: Property management company

Post by boglerdude » Mon Jun 04, 2018 1:25 am

Ask the nextdoor.com neighborhood for that area. And maybe biggerpockets

Even the best property manager wont care for your property as well as you, and many like to churn tenants.

anonsdca
Posts: 326
Joined: Mon Jun 01, 2015 11:47 pm

Re: Property management company

Post by anonsdca » Mon Jun 04, 2018 2:00 am

wxz76 wrote:
Sun Jun 03, 2018 11:24 pm
Does anyone have a recommendation for a property management company in the Northern Virginia area? Thanks!
Sorry, no recommendations, but this is what I did:

1) Interview three (or as many as it takes) managers as it takes to find one you think you can trust, has reasonable fees and willing to go beyond the norm. You will find one, just like finding a realtor, lender, or any other service professional. Interview until you find a comfort level.

2) Dictate your own credit score criteria. I found out that my standards were higher than ALL of the managers I interviewed with, so I simply set the minimum score and would not let them rent to anyone under. I also made them send me their employment histories, salaries, etc. If they didn't agree, they were disqualified.

3) I asked and received a discount in year one and allowed subsequent yearly increases until the managements "normal" fee was reached.

Five years later, I feel like my manager keeps upkeep costs down and I have only had ONE renter. That very first one has stayed for 5 years and I do a COL CPI increase on the rent each year. I feel like I got lucky, but I also screened my candidates and did some upfront work. I sleep well. If this renter ever moves, the house will go up for sale. I have already achieved the gain needed.

DarkHelmetII
Posts: 490
Joined: Mon Jul 24, 2017 12:25 pm

Re: Property management company

Post by DarkHelmetII » Mon Jun 04, 2018 11:34 am

choice property: https://choiceproperty.us/.

PM me for more specifics if you want

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