As a property management company, Propman is often asked, “How’s the rental market in Northern Virginia?” We can almost always answer, “It’s great!”
Since our region is so close to Washington, D.C. and the governmental operations and its contractors, there is a plethora of government work in this area. And since the government is always in operation, the area experiences some of the best employment stability in the nation. When the rest of the country goes into a recession, you don’t really feel it here.
We also find that government employees and military personnel are very good tenants. We have several military bases nearby, including Ft. Belvoir, Ft. Myer and Marine Corps Base Quantico, and we are practiced in the intricacies of working with government and military employees.
Northern Virginia is also a higher-income area, meaning that you can generally receive a higher rent on your investment property than if it was located in another region of the state.
If you have an older property to rent out, you can particularly benefit because your mortgage is typically lower, or you may have paid off your house. This means you can start reaping benefits from your rental investment immediately.
To understand more about the Northern Virginia rental market, give us a call here at Propman Property Management. We’ll be glad to review the marketplace and give you advice on how you can rent out your property or properties safely and securely with our professional property managers. Our region includes the counties and cities of Arlington, Alexandria, Fairfax, Falls Church, Loudoun and Prince William.
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