You are at that point in your life when it is time to start thinking about long term investments. There are a variety of ways that you can choose to go, but why not consider an investment in a Virginia Beach Vacation Rental. A vacation rental home is a home that you purchase and furnish, and then rent out to people in a fully furnished format. This could be a condo, townhouse or house. The people that are renting it are typically renting for short temporary periods of time, and they are expected to leave the home and it’s furnishings as close to the way that they found it when they began their rental period. Many people that own Virginia Beach reals estate rentals also use them themselves for part of the year, but then instead of leaving the home vacant to gather dust while they are gone, they leave the home in the care of a professionally managed rental property management service.
The property management service then cares for the home in the absence of the owner and turns it over in between rental tenants when you are not there. For example, if you have a family rent out the home for a week, when their week is over the property management service comes into the home and does all the laundry for the linens and towels, changes the sheets and makes the beds, and does a general cleanup before the next renters arrive. They typically will also inspect the home for any damage or issues that may have been caused by the prior tenants and perform any necessary repairs.
Some property management companies, such as www.anchorvirginia.com offer two different kinds of management services. One for owners that wish to rent out their homes on a weekly basis and one for people that have tenants for longer periods like a month at a time or even up to a year. Typically the amount of work that is required between renters is more for homes that have short term rentals, so those services may have higher fees associated with them.
For long term rentals the property management service will collect rent payments and send notices and late notices to the tenant, address any maintenance issues that the tenant may have, and handle it when it is time for the property to be shown to potential new tenants. For rentals that are designed to have a shorter term rental period, the work load will look a little different. They typically do not run background checks or show the unit to potential renters. Instead, they list the rental on vacation rental websites such as Airbnb or Home Away. They handle all of the rental requests and book tenants. They also collect and process payments and make sure that the temporary residents receive a key and also return it at the end of their rental period. Some property management services will also offer or include all of the housekeeping and maintenance services, but as a owner you can opt in to that or choose to do it yourself.