Michele - Thursday, June 4, 2015
With strict qualification criteria in place, we seldom need to proceed with tenant evictions (typically no more than 1 tenant per year with 250+ managed properties). While we have an excellent attorney on retainer and a swift process to proceed with eviction if necessary, we do want landlords to understand that late or non-payment of rent is always a possible risk with a rental property.
In Prince William County, the eviction process typically takes 6-8 weeks to complete. If we have not received rent by noon on the 5th of the month, we’ll give a courtesy call to the tenant to get a status on the rent payment. If rent is not received by 9AM on the 6th of the month, we will assess late fees and have the Sheriff post a 5 Day Notice of Material Non-Compliance to begin the legal process.
If the tenants have still not made a full rent payment 5 days after the notice has been posted, we will file an Unlawful Detainer with the General District Court and schedule an eviction hearing (typically about 3 weeks later).
At the time of the eviction hearing, if all of the paperwork is in order, the judge will grant immediate...
Michele - Thursday, May 28, 2015
If you were still living in the home that has now become a rental property, you would likely be power washing and sealing the deck every 2 years, trimming the trees that begin brushing against the house, sealing the driveway before the cracks get too deep, and painting any peeling trim before the wood begins to rot.
These annual maintenance tasks are just as important on your rental property as they are on your primary residence. Deferring these maintenance items just pushes the cost into the future at a much higher price.
The better the house is maintained, the quicker it will rent and the better positioned it will be for eventual sale. Some of these maintenance items will need to be addressed if they become HOA violations, but landlords should be proactive about maintaining their properties, not just because the HOA requires them to do so, but also because it helps protect the long term value of their asset.
When preparing an annual budget for your rental property, we suggest factoring in expected costs of exterior maintenance over the next 3-5 years.
Michele - Monday, May 25, 2015
Most of our managed properties are located within communities that are governed by a Home Owner’s Association (HOA) or Condo Association. The lease will require that the tenants comply with all HOA regulations. In order to do so, the owner must provide a copy of the HOA regulations that pertain to parking, trash pick up, use of grills, exterior maintenance, etc.
Some HOAs also require that a landlord notify them when transitioning a home into a rental property and provide the association with a copy of the lease. Owners will need to check with their HOAs to find out if what specific requirements are in place for rental properties.
Owners should also let us know what additional coordination will be needed between our office and the HOA such as ensuring tenants have parking passes, visitor hang tags, pool passes, club house passes, gate entry cards, etc.
Owners must also provide the HOA with their forwarding address to ensure that they are notified promptly of any HOA violations. Many owners choose to have violation notices sent directly to our office so that we can take immediate action when notified.