Even the most perfect tenant can have a rainy day. That’s why KRS conducts thorough underwriting to minimize potential risk. Even in a worse case scenario and you have a tenant that stops paying rent, we will assist in the eviction process and re-rent the property quickly.
Having someone in your corner who knows tenant law and the proper notices to send is critical.
If a tenant has gone beyond the grace period of the lease, we provide them with a late rent notice, where we collect the appropriate late fees along with the normal rent amount.
We make paying rent easy for tenants with the online tenant portal that can be accessed 24/7.
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Richmond’s residential rental housing market has been a boon for investors. In large part this continues as a function of a diverse economy hosting a stable mixture of government, financial, education and manufacturing sectors.
Additionally, a welcoming temperate climate plus access to a variety of outdoor activities along with social, cultural and educational offerings prove to be major attractions to retirees and millennials … two major sources of renters.
As the capital of the Commonwealth of Virginia, Richmond boasts a historically low unemployment rate of less than 3 percent and an annual household income of $50,000 … both evidence of a strong job sector. These robust figures have persisted in recent years resulting in residential real estate landlords enjoying current monthly rents hovering around $1,100 … reflected in annual rate increases of about 2.3 percent coupled with an enviable vacancy rate approximating 5.5 percent.
KRS Holdings, Inc. has specialized in Richmond property management for almost two decades. Be sure to talk to one of our local property managers before you purchase your next property to get rental analysis. Our team of dedicated agents are devoted to helping fill your vacancies, reduce turnover, and protect your investment of your rental property. Our guiding principle has always been to maximize the value of our clients’ residential assets, while we minimize their time commitment. It is because of this passion for property management that we now manage over 4,000 units over the commonwealth.
If you have a real estate investment property in any of these areas, contact us today! Our property management team would love to offer you our services and help you increase your ROI, while decreasing your stress.