Richmond is the heart and capital of Virginia, and features a wide array of historical landmarks, breathtaking scenery, a growing arts and culture scene and considerable population.
The city lies along the James River, and is well-known as a market where the government, as well as the banking and finance industries, play a substantial role in supporting the local economy.
In Downtown Richmond, a variety of new centers and venues that support the arts have been built, along with the new Greater Richmond Convention Center. These amenities and features appeal to many of the city's residents.
Several theaters - many 50 years or older - lie throughout Richmond. Numerous styles of architecture reside in the city, as well as many bountiful parks, such as the Lewis Ginter Botanical garden.
Virginia Commonwealth University headlines the city's vast array of colleges and universities, which total five. Additionally, Richmond's public schools have been noted as some of the nation's premier educational institutions.
Numerous Property Management Firms to Choose From in Richmond
Richmond has experienced a significant revitalization in the past few years, which has led to many businesses opening up throughout the city, including new restaurants, nightlife venues and retail stores.
Given the improving conditions the city has experienced and continues to benefit from, apartment investors should think long and hard about spending their money on a premier, low-priced rental property.
The apartment sector in Richmond is getting stronger, so investors could see a substantial return on investment if they purchase a residence soon. Something that can also help their ROI is hiring a rental property management team to help keep the property maintained and deal with tenants.
Richmond Rental Market at a Glance
Rental Vacancy Rate, January 2010: 9.9 percent
Rental Vacancy Rate, January 2011: 6.8 percent
Statistics courtesy of Real Data's Richmond Apartment Index
Finding Richmond Property Management Companies
Locating the right property management company for you is vital to ensuring your business is run smoothly and efficiently.
Sign up with All Property Management to choose from Richmond's top property management companies. Just type your zip code into our search engine and you'll discover a variety of management firms in Richmond to receive free quotes from.