At Rental Homes USA, we are proud of being a military-friendly property management company, and if you’re an owner wondering what to do with your home while leaving for a new duty station, our team can professionally manage it for you. We’ll share the benefits of renting out your home while keeping your asset, and we’ll talk about how we’re here to make sure that your property is protected and your rental experience is exactly what it should be.
In our market, we’re close to a number of military bases and naval stations. We understand the unique challenges of military members and their families, and we’re here to help you navigate this market and earn some money. Leverage our experience with the local rental laws, competing properties, and tenant requirements.
We know what military owners need, especially when they’re preparing to leave the area and rent out their home. Our experienced management team is here to provide an outstanding experience.
Military Families in Virginia Beach and Chesapeake: Keep Your Home and Rent it Out
If you’re a member of the military and you’re preparing to move to a new duty station, a lot of details are going to need immediate attention. It can be overwhelming, even if your military service means you’ve done this dozens of times before.
The first and most important question to ask is: What will you do with the home you own?
Selling might prove to be one extra thing you don’t want to worry about. With the market shifting and prices peaking, it may take more time than you’d like to sell the place you’ve called home while living in the area. Plus, you’d have to give up your asset, and what if you plan to potentially return to the area at some point in the future?
There are a few important benefits to renting out your property while you’re serving elsewhere, and we can help you take advantage of:
Consistent and Recurring Income
This is a strong rental market. That’s due in part to the military presence here but also because we have been growing economically. Chesapeake and Virginia Beach are becoming a popular destination for people who are seeking a higher quality of life. There’s new industry moving in and remote workers who can live anywhere while keeping their jobs are finding that areas such as Chesapeake, Virginia Beach, and the surrounding areas make sense.
Rents are high and so is demand, meaning you can count on a pool of qualified tenants.
Having a tenant move into your property leads to regular rental income, and that can go towards paying down the mortgage on your investment. You’ll increase the return you earn on your property, and you’ll have some consistent cash flow coming in.
When you have good tenants in place and a team of expert property managers helping you to maintain your home, you’ll be able to earn money on your property consistently.
Appreciation and Holding Onto your Asset
Did you enjoy living in this area? If you’re imagining a situation in which you’d move back, it makes sense to hold onto your home. But, you want to make sure that home is kept in good condition while you’re not in it. That’s where property managers like us can help.
Even if you have no plans to return to the area, you know that an investment property in this part of the country is a profitable venture. Your asset grows in value the longer you hold onto it. As your rents increase, you earn more and more money over the long term.
Tax Benefits to Renting Out a Property
You should also consider taxes. Selling may require you to pay capital gains taxes. Renting it out, however, will provide you some tax relief because you’ll be able to deduct mortgage interest, property management and other professional fees, as well as the cost of maintenance and repairs.
Property Management for Military Members
Even when you know that renting out your property is the best way forward when you’re at your new duty station, there are concerns that are unique to military members. You’ll be far away; it’s not like you can be here to show the home, make minor repairs, or respond to an emergency that your tenant has reported with the plumbing or an appliance.
That’s why you need a professional property management partner like our team at Rental Homes USA.
Here are the best tips and strategies that we can offer based on our extensive experience leasing, managing, and maintaining investment properties owned by members of the military and their families.
Establish a Strong Support Network
One of the first steps in successfully managing your rental property from a distance is to establish a reliable network of local contacts that can assist you when needed. Your property manager is an absolutely essential partner in this process. We will handle day-to-day operations such as tenant screening, routine inspections, maintenance issues, and emergency responses. We’ll have established relationships with vendors, contractors, and service professionals to ensure your investment is well-maintained, in good condition, and increasing in value.
Make Use of Technology
Leverage technology to streamline the rental process when you’re at a new duty station but still committed to staying connected to your investment and your management team. We facilitate this with online platforms that can simplify the management of your property. You will have access to digital and online listings when your property is vacant and we’re looking for a tenant. We’ll collect rent online so that you’re paid immediately. And we’ll provide accounting statements and financial reports in real time that show you exactly where you stand financially with your investment.
Communication is essential. We provide a number of ways for you to reach us. We’ll have regular check-in conversations to let you know how things are going and whether there are any decisions that need to be made. We provide peace of mind.
If you’re worried about becoming a landlord, that’s why we’re here. We protect the value and condition of your property once you leave it in our experienced hands. Contact our team at Rental Homes USA when you’re moving to a new duty station and need help with your property.
