Richmond Property Management Blog

What Is a Good Cash-on-Cash Return for a Richmond Rental?

There is no universal cash-on-cash return that makes every Richmond rental a good deal. Cash-on-cash return is useful because it measures how much annual cash flow the owner receives relative to the actual cash put into the investment. Unlike cap rate, financing matters.PMI James...

What Is a Good Cap Rate for a Rental Property in Richmond?

There is no single cap rate that makes every Richmond rental property a good investment. A cap rate is useful because it shows how much net operating income a property produces relative to its price, but the percentage is only meaningful when the rent and expenses behind it are r...

How Can Richmond Landlords Improve Cash Flow Without Raising Rent?

Richmond landlords do not always need a rent increase to improve rental cash flow. In many cases, the better opportunity is to reduce the money lost between gross rent and what the property actually produces over a full year.The useful framework is the same one behind PMI James R...

Flat Fee vs. Percentage-Based Property Management Fees: What Richmond Owners Should Compare

Richmond rental owners comparing property management companies will often encounter two ways of pricing the recurring management relationship: a flat monthly fee or a percentage-based fee tied to rent. The calculation method matters, but it does not tell an owner which proposal i...

What Maintenance Problems Should Richmond Renters Report Promptly?

Most maintenance problems are easier to handle when you start with what you can actually observe. You do not need to determine what failed, what trade is involved, or what repair may be needed.For ordinary maintenance problems, start with the PMI James River Resident Maintenance ...

Smart Devices in Your Richmond Rental: What to Know Before You Need Them

The worst time to learn how a device in your rental works is when it is sounding an alarm, refusing to unlock, reporting a leak, or displaying a warning you have never seen before.If your Richmond rental includes smart or electronic equipment, spend a few minutes familiarizing yo...

What Should a Landlord Do After a Sewer Backup in a Richmond Rental?

When sewage comes up through a toilet, tub, shower, floor drain, or other drain in a rental property, owners may call it sewage backflow, a sewer backup, or a drain backup. Whatever the label, the first job is the same: stop the event from getting worse, keep people away from con...

How to write a pet policy for rental properties

Most landlords think a pet policy is just a line in the lease that says "no pets" or "pets okay." It's not. A real pet policy is a legal document, a financial instrument, and a liability shield all rolled into one — and when it's written poorly, ...

How to Choose Rental Comps for a Richmond Property

A useful rental comp is not simply a nearby property with the same bedroom count. It is a property a qualified renter could realistically choose instead of the subject rental.PMI James River builds pricing decisions around the home's actual competition as part of its Richmond...

Month-to-month vs. fixed-term lease: which is better for landlords

Most landlords assume month-to-month leases give them more control. We'd push back on that pretty hard.The reality is more complicated, and the wrong call can cost you several thousand dollars in a single vacancy cycle. If you're trying to decide how to structure your nex...