Looking for Qualified Property Management Companies in Richmond, VA?

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Specialty # of Agencies
Single House or Condo 8
Apartment Buildings 5
Home Owners Association 2
Total Local Companies 10

The average rent for a 3 bedroom house in Richmond, VA is $1,294.00. When you receive your requested free market assessment, compare the average rent to what a property manager expects your property to rent for before making your decision on which manager to hire.

Richmond, VA Rental Market Overview

While the national vacancy rate stood at around 8.2% at the end of 2013, the United States Census Bureau noted Richmond at 11.6% vacancy rate. This may change as more renting options become available.

Last year Richmond's old First National Bank Building on Main Street was renovated and transformed into 154 apartments. Currently the twelve-story 700 Centre building near the Richmond capitol is being renovated and another 174 apartments will be available before the end of 2014. These projects capitalize on urban core locations and the work-play-live lifestyle trend currently popular with the youngest renter demographic.

Historically Richmond has always been host to law and finance institutions, notably the U.S. Fourth Circuit Court of Appeals and the Federal Reserve Bank of Richmond. The area is the headquarters for Philip Morris, CarMax, CapitalOne and Genworth Financial. While other economies in Virginia are closely tied to the federal government, data from the U.S. Bureau of Economic Analysis indicates that federal contract awards made up only 1.9% of Richmond's gross regional product. The rest of the revenue is derived from the commonwealth and private business enterprises.

That's why a growing number of independent property owners consult with property managers before refining their rental asset portfolios. Richmond property management companies do more than specialize in marketing, accounting and maintenance coordination, they also employ real estate professionals who work directly with owners and renters. They understand the local rental market firsthand.

Richmond Renting Resources

Virginia State Legal Regulations

Historical Foreclosure Rates in Richmond

Top Single Family Managers

Serving all of Virginia
Statewide, VA 23112

Managing: Single-Family :
Simple FLAT RATE pricing, GUARANTEED tenant within 30 days or its FREE!!

7305 Hancock Village Drive , P.M.B. 344
Chesterfield, VA 23832

Managing: Single-Family :
Five Star Certified Property Management! We're Landlords too - we understand your needs. WE GET RESULTS!

11207 Nuckols Rd., Suite F
Glen Allen, VA 23059

Managing: Single-Family : Multi-Family :
#1 Fastest Growing, Highest Rated Property Manager! FREE Rental Price Analysis & 18-Month Tenant Warranty! Flat Rate Fees!

Top Multi-Family Managers

9464 Chamberlayne Road Suite 200
Mechanicsville, VA 23116

Managing: Single-Family : Multi-Family :
Property Management solutions for those we serve through, Prompt, Courteous, Professional, and Ethical Service

11207 Nuckols Rd., Suite F
Glen Allen, VA 23059

Managing: Single-Family : Multi-Family :
#1 Fastest Growing, Highest Rated Property Manager! FREE Rental Price Analysis & 18-Month Tenant Warranty! Flat Rate Fees!

1904 Byrd Ave, Ste 308
Richmond, VA 23230

Managing: Single-Family : Multi-Family :
Call us about our GUARANTEED RENT PROGRAM! We customize your management.

Top Association Managers

4222 Cox Road Suite 110 , Virginia Beach and surrounding areas
Glen Allen, VA 23060

Managing: Association :
Is your community reaching its potential? Discover the possibilities of life with Associa.

Serving Washington DC, Maryland, Virginia, and Delaware
DC, MD, VA, DE, VA 22033

Managing: Association :
Is your community reaching its potential? Discover the possibilities of life with Associa.

Additional Property Management in Richmond, VA

63 Wythe Creek Rd , Suite #1
Hampton, VA 23666

Managing: Single-Family : Multi-Family :
We offer a full range of real estate services, from property management to sales. Your real estate one stop shop!

8600 Quioccasin Road , Suite 200
Richmond, VA 23229

Managing: Single-Family :
Our focus is on exceptional property management of homes, townhomes and condos in Richmond, Virginia and surrounding areas.

4860 Cox Road Suite 200
Glen Allen, VA 23060

Managing: Single-Family : Multi-Family :
We are the local company of choice! Ask about our FREE MARKET ANALYSIS and WEB SPECIAL!


Q2 2015 Rental Ranking Report

Richmond doesn't have much in common with travel destinations like Bali, Rio de Janeiro and Santo Domingo, yet it recently found itself rubbing shoulders with these popular tourist meccas on Frommer's' list of Top Destinations for 2014. What's more, CNN Money ranked Richmond fourth on their list of the 10 Hottest Housing Markets for 2014. These accolades give proof to a fact that all Richmonders know well - it's a wonderful place to live, work and play!

Q2 2015 Richmond Rental Market Update

In Q2 2015, Richmond was the 13th-best housing market in the Southeastern U.S. to own rental properties in and 63rd-best in the country as a whole. Since Q1 2015, Richmond fell four spots in the Rental Ranking Report's regional rankings for the Southeastern U.S. and 17 spots in the national rankings.

Unfortunately, there was nothing even remotely impressive about the Richmond rental real estate market in Q2 2015. Richmond rental prices appreciated just 2.97 percent year-over-year in Q2 2015, an increase 40 percent less than the national average during that time period. Property value appreciation was equally as anemic; Richmond properties only appreciated an average of 2.87 percent year-over-year in Q2 2015, which was also about 40 percent less than the national average for that metric. The local vacancy rate (7.40 percent, about 10 percent more than the national average), median age of housing inventory (72 days, nine days more than the national average), and annual job growth rate (0.43 percent, the fourth-lowest job growth rate in the U.S. during Q2 2015) all further indicate that demand for Richmond housing isn't particularly strong.

Q1 2015 Richmond Rental Market Update

The Q1 2015 Rental Ranking Report found that Richmond is the ninth-best market in the Southeast and 46th-best in the U.S. (out of 75 total markets evaluated by our Rental Ranking reports) in terms of the returns it offers on rental real estate investment. It ranks slightly below the middle of the pack because it doesn't perform particularly well in any of the metrics used by our Rental Ranking Reports. Richmond performs best on our Tax & Insurance Cost Index, where relatively low homeowners insurance premiums and property taxes give Richmond a rank of 20th in the country on that index.

Richmond's capitalization rate is 6.71 percent, slightly below the national average of 7.18 percent. Home values in Richmond increased by 4.36 percent last year, significantly lower than the national average property value appreciation of 5.65 percent.

What data is this Rental Ranking Report based on?

To calculate the statistics found in the Q2 2015 Rental Ranking Report, All Property Management gathered data, including the most recent government housing and jobs data, for 75 metros across the United States. Specifically, we looked at home vacancy, capitalization, home value appreciation and job growth rates, changes in rental prices, and the average number of days properties have been on the market to determine which U.S. metros will give investors the highest returns on rental investments. Click here to learn more about the Rental Ranking metrics.

Should I invest in Richmond rental property?

There have been times in the past when rental real estate investment in Richmond has offered excellent returns, but right now it seems to be a rental market for those who are content with consistent and modest returns. This is okay, as many a fortune has been made in just this fashion. Richmond is a fine alternative for the Mid-Atlantic investor looking for lower prices and less regulation than what can be found in the Washington D.C. metropolitan area.

Thinking about renting out a property in Richmond? Save time, avoid hassle and maximize your rental income by having a professional property management company operate your rental property for you. Click here to get a free quote from a local property manager or call 877-780-4510 to have the All Property Management staff get quotes for you.

All Property Management specializes in connecting rental property owners with professional property managers in communities across the United States. These property managers help set rental rates, advertise properties, screen and manage tenants, collect rent, manage vendor relationships and ensure compliance with local, state and federal housing regulations. They take the hassle and worry out of managing rental properties - all while maximizing rental property owners' rental incomes.