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Hampton Roads Property Management
Let us manage your Hampton Roads Rental Property
In today’s market, a property management company is required to be incredibly versatile, bringing the highest level of expertise and knowledge for both investor and renter. Competition is fierce in Hampton Roads and you need a property manager like Renters Warehouse that has a licensed team that can address all of the challenges. We specialize in being a long-term partner for all of your property management needs.
Renters Warehouse has a main focus to play an integral role in offering information and data to investors/property owners for the best possible return as quickly and efficiently as possible. We also act as an agent to represent the most viable candidates for property rentals. In other words, our professional team connects the dots, so that you don’t have to.
We specialize in connecting all of the players for long term rentals for condos, homes and apartments.
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Owner, Renter, or Vendor?
How much rent can you get for your investment?
Setting the proper rental rate for a property is one way to reduce the time a property sits empty—which costs you money instead of earning it. Many factors come together to influence the perfect rental rate or "bullseye price," such as:
- Type of property
- Bedrooms
- Bathrooms
- HVAC
- Pet policy
- Amenities
- Condition
- Location
- Market conditions
Set the rate too high, and you risk a property that sits vacant for months—while tenants find something more in line with market rates. Set the rental amount too low, and you lose money on your investment—and potentially lose out on market-savvy renters who think the offer is too good to be true.
Explore What We Do
As Your Hampton Roads Property Manager
Property Management in Hampton Roads
Let us manage your Hampton Roads rental property
The advance within the property management industry has been based on changes in local, state and federal laws combined with how we live. In the 1900s, rental properties had few laws regarding safety and protection of those renting as well as the condition of the buildings. The end of WWI saw the beginning of the Middle Class development, but this was quickly destroyed with the advent of the Great Depression. This brought about a new condition that left massive numbers of properties in the hands of the banks who had no idea how to manage them. This was a case of the development of an industry due to cause and effect. Banks began to hire people called “caretaker managers” who did some of the more basic duties. Over time, companies began to develop to take on more responsibilities of the property owners.
The creation of the Institute of Real Estate Management (IREM) set standards for building and assisted the federal government in understanding the rental industry and the establishment of policy goals. Other organizations began to form and these were followed by individual state laws governing rental properties, building conditions, and renter protection.
The 1950s brought about the baby boom with consumers seeking to purchase real estate. By the 1960s the rental industry had grown in popularity and owners were having difficulties keeping up with the demands of complying with new federal and state laws while maintaining the integrity of the buildings and the never ending cycle of renters. Caretaker managers were no longer sufficient for the demands and this brought about the development of companies that had teams of specialists to take on the responsibilities of property governance. The difficulties involved in the real estate industry became more complex with new tax laws and changes in management methods.
Today most states require that property management companies that collect rent, list rental property, assist in lease negotiation, and third-party inspections also be licensed real estate brokers. There are variations in these requirements by state, depending upon the property management duties.
Renter’s warehouse benefits
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INVESTOR/OWNER BENEFITS
Property owners rely on our professionals to take care of all of the priorities and nuances of renting your property. We counsel and advice on everything that you need to rent out the property quickly and securely so that you don’t have to worry. The Renters Warehouse team will take charge with:
- Quality tenant placement
- Rent collection
- Maintenance coordination
- Inspections
- Tax and licensing paperwork
- Optional protection packages for total peace of mind
As an investor you want to list your property at the best rate that will attract the renters that you want, quickly and efficiently. We supply current information that will allow you to allocate the rental return based on data and demographics, and assist owners in the analysis to ensure that there is a beneficial ROI.
Our extensive and in-depth screening process assures that you will have renters that you can depend on. In just a few weeks we can turn your home into Rent Estate!™
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RENTER BENEFITS
Searching for a rental in Hampton Roads shouldn’t be a daunting task. At Renters Warehouse we have our fingers on the pulse of property types, location, and pricing. We are the single point of contact that can offer the advice, selection, and ultimate success in locating your new home. Whether it is a small intimate apartment or a larger house, we are your Professional Landlord that can bring you to your new neighborhood. Just a few of the areas that we help with include:
- Location and price
- Type of home
- Additional costs (i.e.: property care)
- School information
- Shopping Proximity
One of our specialty services that we offer free of charge is our rental analysis. There is no obligation, but we have found that the results act as a foundation to help with establishing the best pricing. Once the rental analysis is complete, we supply you with a unique property report that can maximize your rental and help to ensure that your get the best price as well as the best tenants.
Discover Hampton Roads
Hampton Roads, VA, stands out as a prime location for real estate investing and property management, offering substantial market growth and a variety of attractions that appeal to both investors and residents.
Hampton Roads' real estate market has shown significant growth, making it an attractive option for investors. Recent statistics indicate a median home price of $310,000, reflecting a year-over-year increase of 6%. The rental market is strong, with average rental yields around 5.8%, ensuring solid returns on investment.
Market Growth Statistics
- Median home price: $310,000 (up 6% YoY)
- Average rental yield: 5.8%
- Population growth: 1.9% annually
- Employment growth: 3.1% annually
Local Attractions
Hampton Roads offers a variety of attractions that enhance its appeal. The area is known for its rich history and cultural significance, with sites like Colonial Williamsburg, Jamestown Settlement, and the American Revolution Museum at Yorktown providing immersive historical experiences.
For outdoor enthusiasts, the region boasts beautiful beaches, including Virginia Beach and the Chesapeake Bay, offering opportunities for swimming, boating, and fishing. The Norfolk Botanical Garden and First Landing State Park provide scenic spots for nature lovers.
Hampton Roads is also home to several military bases, including Naval Station Norfolk, the world's largest naval base, which contributes to the area's robust economy and stable rental market. The region's vibrant arts scene includes the Chrysler Museum of Art and the Virginia Symphony Orchestra.
The area's diverse culinary scene, shopping centers like MacArthur Center, and annual events such as the Virginia Arts Festival and the Neptune Festival in Virginia Beach further enhance its appeal.
Ready to Invest in Hampton Roads, VA?
Investing in Hampton Roads, VA, presents a lucrative opportunity, driven by strong market growth and attractive rental yields. The area's historical significance, natural beauty, and vibrant community make it an ideal location for both investors and residents.