How to Find a Great Property Management Company in Virginia Beach

Osprey Property Management   |   date July 2023

Published May 2022. Updated July 20, 2023. 

As a Virginia Beach property owner, you know that maintaining your property and making money from the investment can be a lot of work! That's where an excellent residential property management company comes in—but how do you find the right one for you? 

There are many companies to choose from, so it can be challenging to know which one is the best fit. It can also be hard to know what to look for in a property manager who can support you and your goals the right way.

So, in this blog post, we deliver some expert tips on finding the perfect Virginia Beach property management company for your needs!

Ask Locally for Referrals

One of the best ways to find a suitable property management company is by asking locally for referrals. The Virginia Beach area is large, but it's still possible to get word-of-mouth recommendations from people in the area. 

Young businessman writing "property management," finding property management in Virginia concept.

Property owners can ask friends, family, neighbors, and other industry professionals if they know of any good companies that manage properties. If you don't have any personal connections in the area, you can also try posting a question on local online forums or social media groups.

Check for Online Reviews

Another great way to find a property management company is by reading online reviews. Typing "property managers near me" into Google will deliver many results, including online platforms that allow people to leave reviews of businesses. These can be great resources when you're trying to make a decision. 

Be sure to read reviews from multiple sources (and positive and negative reviews) to get a well-rounded view of a company. You can also check out the property management company's website and see if they have any testimonials from satisfied customers.

Ensure They Know the Area Well

When looking for the best property management in Virginia Beach, you'll want to be sure that they know the area well. This is important because they must be familiar with local laws and ordinances to manage your property properly. 

However, the ideal property management company should possess more than just basic knowledge. It's crucial for them to have an in-depth understanding of the local real estate market dynamics. By understanding the pulse of the market, they can better gauge what potential renters are specifically searching for in housing within the area.

This insight allows them to provide invaluable advice on how to make your rental property more appealing and competitive. Moreover, they can assist you in determining the optimal price point for your rental units, ensuring you maximize your returns while maintaining a steady flow of tenants.

With the right property managers by your side, you're not only ensuring that your assets are well taken care of, but you're also setting yourself up for success in the bustling real estate market.

Ask About Communication Policies and Practices

Once you've narrowed down your choices to a few property management companies, it's essential to learn about their owner-to-property-manager interaction policies. This is crucial because you need to be sure that you're comfortable with the level of communication and involvement that the company requires from you. 

Some companies prefer to keep a hands-off approach, while others will want you to be more involved in the day-to-day operations. In addition, you might prefer to be more hands-off without frequent updates from property managers you trust to optimize returns. 

Be sure to find a company with policies that align with your preferences when managing your rental properties.

Hands-off Property Management and Communication

One of the benefits of hiring a property management company that has a hands-off approach to communication is that you won't have to deal with the day-to-day operations of your property. You can also empower your property managers to handle every detail without looping you in on details that can bog you down. 

This can be a great relief for busy Virginia Beach property owners who don't have the time or energy to deal with ongoing maintenance issues, tenant concerns, and other problems.

Hands-on Property Management and Communication

For property owners who take a deeper interest in the intricate details of their investments, choosing the right property management company is crucial to meet that need.

If you're someone who prefers to be at the forefront of the day-to-day operations of your property and values consistent communication, then it's essential to select a company that aligns with this preference.

A company that offers a hands-on approach for owners ensures that you're not left in the dark. This method allows you to actively participate in decisions, be in the loop about the property's status, and hear from your property manager on a regular basis.

Receiving frequent status updates gives you peace of mind and assures you that your property is being managed efficiently. By collaborating with a company that understands and values your involvement, you can be confident in the ongoing success and care of your property.

Learn About Their Marketing Tactics

When choosing a property management company, you'll want to learn about its marketing tactics. Ensuring that they use effective methods to market your rental units is crucial to your success! 

Close-up of hands over a model home, Virginia Beach property management protects rentals concept.

Property owners should ask about the company's online presence and offline marketing strategies. Be sure to get a detailed explanation of how they plan to market your property so you're comfortable with their approach.

Ask About Their Average Vacancy Period

Another essential question to ask a residential property management company is their average vacancy period. If property managers can keep your rental unit occupied, your properties won’t deliver the returns you need

The longer your units sit vacant, the more money you lose in lost rent. Ask a potential company for their average vacancy rate and how they plan on reducing vacancies at your property. The best property management companies have proven strategies to reduce vacancy times while placing quality tenants in your residential properties.

Partner With the Best Virginia Beach Property Management Team

By following these tips, a property owner should be able to find the best residential property managers in Virginia Beach that meet their needs and long-term goals. Do your research and ask plenty of questions to be confident that you're making the best decision for your investment property.

Osprey Property Management has been Virginia Beach's go-to expert for residential property management since 1999. We offer a range of property management services to help investors find good tenants, experience consistent (and on time) rental income, and keep properties in excellent condition. In short, we know how to keep your properties occupied and generating income! 

If you're looking for a property management company in the area that can provide everything you need, reach out to our team today! 

We put more tips about finding the right property manager in our free resource, the “Guide to Finding the Best Property Manager!” Download it for free today.

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