Managing a rental property in Richmond and the surrounding counties can be rewarding, but even experienced landlords often fall into costly traps. Missteps in notices, deposits, and compliance don’t just lead to frustration—they can trigger lawsuits, fines, and lost income.
Here are the 7 most common and expensive mistakes rental property owners make—and how to avoid them.
1. Serving the Wrong Notices
Issuing the wrong notice—or serving it incorrectly—is one of the fastest ways to derail an eviction or lease enforcement action.
Common Pitfalls: Wrong notice periods, using outdated templates, or failing to provide proof of delivery.
Consequences: Cases thrown out of court, delayed evictions, additional months of lost rent.
Prevention Tip: Always use Virginia VRLTA-compliant notice templates and document delivery dates with certified mail or hand-delivery acknowledgments.
2. Mishandling Security Deposits
Security deposit laws in Virginia are strict and often misunderstood.
Common Pitfalls: Missing the 45-day return deadline, not providing an itemized list of deductions, or using the deposit for prohibited charges.
Consequences: Automatic forfeiture of deductions, court-ordered penalties, and attorney fees.
Prevention Tip: Track all move-in and move-out conditions with detailed inspections (photos or video) and follow the legal timeline without exception.
3. Relying on Verbal Agreements
Verbal agreements—like promising to delay rent or to make repairs—create ambiguity that rarely stands up in disputes.
Common Pitfalls: Informal promises about payment dates, pets, or maintenance.
Consequences: “He said, she said” conflicts, unenforceable terms, and damaged trust with residents.
Prevention Tip: Put every agreement in writing, signed and dated by all parties. Use lease addenda for any changes during tenancy.
4. Retaliation Risks
Virginia law prohibits retaliatory actions against residents for exercising legal rights—like filing maintenance complaints or reporting code violations.
Common Pitfalls: Rent increases or non-renewals that appear to be punitive.
Consequences: Retaliation claims can void notices, trigger fines, and harm your reputation.
Prevention Tip: Document legitimate reasons for rent adjustments or non-renewals, and ensure consistent treatment across all residents.
5. Fair Housing Slip-Ups
Fair Housing compliance isn’t optional. Even accidental violations can lead to expensive investigations.
Common Pitfalls: Using discriminatory language in ads (e.g., “perfect for families”), inconsistent screening standards, or steering prospects.
Consequences: Federal and state penalties, legal costs, and reputational damage.
Prevention Tip: Standardize your screening criteria, train anyone involved in leasing, and keep your marketing language factual and inclusive.
6. Skipping Proper Resident Screening
Many owners skip comprehensive screening when a unit is vacant, eager to fill it quickly.
Common Pitfalls: Accepting incomplete applications or failing to verify income, rental history, and criminal background.
Consequences: Higher eviction risks, property damage, and unpaid rent.
Prevention Tip: Follow consistent, written screening policies that comply with Fair Housing and verify all information before approval.
7. Neglecting Documentation and Follow-Through
A lack of organized records often causes disputes that could have been avoided.
Common Pitfalls: Failing to log maintenance requests, ignoring lease enforcement, or neglecting routine inspections.
Consequences: Difficulty proving your case in court, loss of owner protections under insurance policies, and increased liability exposure.
Prevention Tip: Keep a detailed paper or digital trail for every lease term, communication, and inspection.
Why Partnering with PMI James River Matters
A professional property manager mitigates these risks by:
Using Virginia-compliant leases and notices.
Documenting inspections with photos.
Maintaining secure escrow handling for deposits.
Standardizing screening and Fair Housing compliance.
Offering detailed financial reporting to keep owners audit-ready.
Hiring PMI James River saves owners time, reduces legal exposure, and protects property value.
Call-to-Action
Don’t let preventable mistakes drain your rental profits.
Contact PMI James River today to schedule a consultation or request a free wealth analysis for your property:
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