Alexandria vs Nearby Cities
Located less than 10 miles south of Washington, D.C., Alexandria is a popular city for government officials and other professionals working in the capital. Median rental prices throughout this region of Virginia are typically around $2,000 per month, and home prices are also much higher than the national average. In Alexandria and many surrounding cities like Annandale, median home prices can approach $600,000 while home values remain over $500,000. Just north in Arlington, the median home price is known to skyrocket above $650,000. There are some nearby cities with slightly lower prices, such as Franconia with a median listing price around $450,000.
Alexandria Property Managers
Property managers are hired to oversee the daily operations of a rental property. They are also expected to make decisions that will impact the future profitability of the property. This may include recommending and overseeing renovations and costly repairs. Managers may also handle all accounting and marketing, ensuring that all units are rented to suitable tenants.
Alexandria Property Management Company Fees
Property managers typically charge around 10 percent of the rent collected from the rental units. This rate can get closer to 12 percent for properties in need of more care or closer to five percent for properties that will demand less time. Additional fees are often charged for services not included in the management fee.
Virginia Landlord/Tenant Laws
- Landlords can charge up to twice the monthly rental rate for the security deposit on a rental unit.
- Once a tenant vacates a rental property, the landlord may take up to 45 days to assess the property and return the security deposit.
- Tenants have the right to file a lawsuit for up to $5,000 if they dispute deductions from their security deposit.