Are you a landlord who is throwing away hundreds even thousands of dollars each year by not raising the rents? Professional Hampton VA property management warns landlords that the property prices in the area have actually risen.
The market analysis and study conducted by professional property managers can go a long way in helping landlords realize their true rental income worth. Often property owners are unaware of such market studies. They fear that raising their rents can drive away their good tenant. Recently, after a tenant of six years vacated, a property owner ended up boosting his income by hundreds of dollars as he took the brave decision of finally raising the rent!
This is a classic example that shows that landlords are their own enemy when it comes to maximizing the returns on their investment. Naturally, landlords are also correct in emphasizing on their need to have reliable and trustworthy tenants but sometimes they go ‘too far’ in trying extra hard to please the tenants.
Property owners often make the mistake that just because their tenants are polite, pay the rent on time and take good care of the property means that they need strive hard to retain them. For years on end they do not raise the rents for this purpose. This is indeed a mistake that can be avoided. Good tenants can be retained by prompt address of issues, regular maintenance and other small things.
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KRS Holdings | 2000 West Club Lane, Richmond, VA 23226
Phone (804) 554-3197 | fax (804) 282-4757