Property Management Blog

Keeping long term tenants in place can help you save money on your rental properties. Having someone stay for a long time gives you peace of mind that rent will come in, and you don’t have to incur turnover costs every year or two years. And, you also know that the longer they stay, the better they take care of the property. They...

How do you handle security deposits for your Northern Virginia property? This question comes up a lot. Landlords often need help with how to disburse money, manage the requirements, and meet the timelines. Collecting a Security Deposit Your security deposit is just that: security. You have the money to fix whatever needs to be fixed i...

I get a lot of questions about 1031 exchanges. People ask what they are and how to make them work. I have sold real estate for 20 years, and I have always helped investors buy and sell rentals. I’ve done a lot of 1031 exchanges, and they can benefit you if the situation is right. What is a 1031 Exchange? The 1031 Exchange is als...

One of the things that’s really stressful when managing rental property is dealing with repairs. As a landlord, you surely hate the phone calls from your tenant that the toilet isn’t working or the roof is leaking. It’s easy to cringe and wonder how much money you’ll have to spend. There are a few things you can...

Finding good tenants is critical, and you need to think about the difference between getting a quick tenant and getting the right tenant. Screening Potential Tenants We do a very careful job of screening our potential tenants. We take this process seriously because it’s the most important part of leasing your home. The screening...

Perhaps you just bought a rental property, or maybe you own several. You may be trying to decide whether you want to manage the properties on your own, or hire a professional property manager. There are pros and cons to each option, and today we’re talking about what you need to think about when you’re trying to make this d...

As an owner of rental property, it’s very important to make sure you and your tenant have the proper insurance coverage. A landlord insurance policy is different from the normal homeowner’s policy that you might have on the house you occupy. There are a few features to look for when you’re buying insurance for your in...

  What do you do when your tenant wants to break the lease? This is something we deal with a lot. It has come up quite a bit this last year in particular. Tenants will sign a lease, and six months into that lease, they’ll buy a house or decide to move. They often don’t understand that they are obligated to their contr...

  One of the most stressful times for landlords is when you have to deal with an ugly situation. Maybe things were going fine, and then suddenly your tenant isn’t paying rent or communicating with you. Maybe you have discovered that your tenants trashed your property. These situations are incredibly stressful, and we are here ...

  Millennials make up a big percentage of the rental population, and at Richey Property Management, we see a lot of Millennials renting our homes. I recently read an article about what types of things this age group looks for in a rental property. There are a lot of things they prefer, but these three are the most important things t...