Virginia Property Management: 5 Best Options

The Virginia real estate market is one of the top locations for buying an investment property. The strong economy, the positive job market, and the multiple tourist attractions make Virginia an ideal spot for investing in both long-term and short-term rentals.

Let Awning find the best property manager for your rental property. Simply fill out the form and Awning will find a property manager that provides the best rates and services for your property.

The 5 best property management companies in Virginia are:

• HomeRiver Group: Best Overall Property Management Company in Virginia
• RedSail Property Management: Best for Simple Pricing
• Virginia Property Management Group: Best for Flat Fees
• Osprey Property Management: Best for Flexible Options
• Richey Property Management, LLC: Best for Landlord Guarantees

How We Selected the Best Property Management Companies in Virginia

When selecting the top property managers in a market, it’s important to take into consideration multiple factors to produce reliable, quality results.

In our ranking of the best property management companies in Virginia, we focused on:

• Quantity and quality of property management services: We looked for companies that deliver high-quality, comprehensive services so that Virginia rental property owners can benefit from passive real estate income.
• Property management fees and charges: We searched for property management firms that apply clear pricing models, with competitive rates and no unexpected charges.
• Rental market coverage: We included property managers that operate in different parts of the Virginia rental market.
• Rental property type coverage: We selected companies that manage various types of residential properties rented out on a short-term and long-term basis to meet the needs of all local and remote investors.
• Company size and headquarters: We ranked both small, local and large, national companies as each style of property management offers its own pros and cons so that owners can choose based on their preferences.
• Use of technology and human efforts: We made sure that selected companies benefit from available real estate technologies to optimize processes and pricing, without forgetting about the importance of human interventions in the rental industry.
• Online reviews by property owners and renters: We checked the overall ratings and individual reviews of short-listed companies on reputable third-party review websites to ensure that they deliver the promises they make on their own websites.
• Value for money: Finally, we chose the 6 property management companies that offer the best value for money in the State of Virginia.

HomeRiver Group: Best Overall Property Management Company in Virginia

HomeRiver Group is the largest, third-party, full-service, long-term rental property management company in the US market. John Hirschfeld, Andrew Propst, Doug Dale, and Joshua Bangert launched the company in 2016, with headquarters in New York, NY. At the moment, HomeRiver Group manages 40,000+ rentals and 32,000+ homes within HOA associations in 31 states. They have been able to achieve this wide coverage in terms of properties and markets by acquiring the best property managers in each location and turning them into partners. HomeRiver Group is the best property management firm in Virginia for long-term rentals as they provide comprehensive services, while charging affordable rates.

HomeRiver Group Property Management Services

The property management services delivered by HomeRiver Group cover:

• Expert rental market analysis to maximize return on investment
• Property marketing and advertising
• Extensive tenant screening
• Move-in coordination
• Rent collection
• Owner earnings disbursement
• Routine inspections
• Maintenance work and repairs
• Accounting
• Detailed financial reporting
• Evictions
• Rehab work

HomeRiver Group Property Management Locations

The Virginia office of HomeRiver Group operates in:

• Arlington
• Ashburn
• Falls Church
• Fort Belvoir
• Greater Fairfax
• McLean
• Old Town Alexandria
• Reston
• Tysons Corner

HomeRiver Group Property Types

HomeRiver Group Northern Virginia manages single-family homes and small multifamily properties rented out on a long-term basis.

HomeRiver Group Property Management Costs

The Virginia branch of HomeRiver Group does not explain the fee structure applied in the local market. In other locations, the company uses a mix of flat fees and percentages of monthly rent to be in line with local trends. In all cases, rates are competitive, starting at only 5% of rental income.

Property owners need to pay a leasing fee, a monthly management fee, a lease renewal fee, and inspection fees.

HomeRiver Group Property Management Terms

HomeRiver Group works with 6- or 12-month initial management agreements, after the end of which there are month-to-month options too.

HomeRiver Group Property Management Reviews

There are no online reviews of the services offered by HomeRiver Group Northern Virginia on third-party websites.

You can find HomeRiver Group reviews on:

• Google: Currently 4.1/5 stars based on 53 reviews

Satisfied property owners and tenants write about the wonderful experiences, the great services, the seamless transactions, the professionalism, the knowledge, the promptness, the timeliness, the courteousness, and the delightful team members. Dissatisfied customers talk about unethical practices, irregular updates, and neglectful staff.

How to Get Started with HomeRiver Group Property Management

To get started with the best overall property management company in Virginia, real estate investors can submit an online form via HomeRiver Group or call 415-941-6642.

RedSail Property Management: Best for Simple Pricing

RedSail Property Management is a local, full-service property management company specializing in single-family rental homes in different parts of the Virginia market. Brian McGowan founded the company in 2016, with headquarters in Newport News, VA. The team is dedicated to keeping tenants happy, ensuring properties stay in top shape, and making owners’ life easier. RedSail Property Management is the best property management firm in Virginia for simple pricing as they offer a single services package with clear fees.

RedSail Property Management Services

RedSail Property Management provides comprehensive services that include:

• Comparable market analysis to determine the best rent
• Property marketing including professional quality photos and syndication on 100+ websites
• Extensive and thorough tenant screening including financial records check, employment verification, criminal background check, and rental history
• Pet screening
• Move-in and move-out inspections
• Utilities transfer
• Rent collection
• Owner payout disbursement
• Lease enforcement
• Property inspections including annual smoke alarm inspections and 6-month inspections
• 24/7 maintenance
• Maintenance and repairs coordination
• Accounting
• Detailed financial reporting
• Tax documentation

RedSail Property Management Locations

RedSail Property Management operates in:

• Carrollton
• Chesapeake
• Gloucester
• Gloucester County
• Hampton
• Isle of Wight County
• James City County
• Newport News
• Norfolk
• Poquoson
• Portsmouth
• Smithfield
• Suffolk
• Toano
• Virginia Beach
• Williamsburg
• York County
• Yorktown

RedSail Property Management Property Types

RedSail Property Management works with single-family homes and townhouses rented out for one or two years.

RedSail Property Management Costs

RedSail Property Management charges the following fees:

• Leasing fee: $750 for a one-year lease; $1,250 for a two-year lease
• Monthly management fee: 10% of monthly rent
• 6-month inspection (optional): $125/inspection

There are discounts for the owners of 4+ rental properties.

This straightforward pricing model with no unnecessary fees makes RedSail Property Management the best Virginia property manager for simple pricing.

RedSail Property Management Terms

RedSail Property Management does not specify the terms of the management agreement. Thus, interested landlords need to get in touch with the team and ask for a copy to review diligently before making a decision. It’s crucial to know how easy or not it is to opt out of services if you are not fully satisfied.

RedSail Property Management Reviews

There are more than 900 online reviews of RedSail Property Management on third-party websites that show generally positive experiences.

You can find RedSail Property Management reviews on:

• Birdeye: Currently 4.6/5 stars based on 492 reviews
• Google: Currently 4.7/5 stars based on 430 reviews
• Yelp: Currently 2.7/5 stars based on 7 reviews

Happy property owners and tenants highlight the high standards, the wonderful, well-kept properties, the simple and stress-free processes, the extreme professionalism, the exceptional helpfulness, the patience, the comprehensive responses to all questions, and the timely communication. Unhappy customers complain about bad experiences, lack of empathy and concern, dishonesty, overlooking problems during inspections, unexpected charges, and poor communication.

How to Get Started with RedSail Property Management

To get started with the best property management company in Virginia for simple pricing, real estate investors can submit an online form on the RedSail Property Management website or call 757-550-1171.

Virginia Property Management Group: Best for Flat Fees

Virginia Property Management Group is a local, full-service property management company working with single-family and multi-unit rental homes in Northern Virginia. The company has its headquarters in Fairfax, VA. The team aims to deliver exceptional service and value to clients by offering a range of options to accommodate the financial situations and budgets of different property owners. Virginia Property Management Group is the top property management firm in Virginia for flat fees as their pricing model makes them different from most other local and national property managers.

Virginia Property Management Group Services

Virginia Property Management Group offers the following services:

• Strategic marketing and advertising through online listings, social media, and local advertising, including high-resolution photography and floor plans
• Property showings
• Tenant screening including background check, credit check, income verification, and referral verification
• Pet screening
• Pre-tenant move-in and post-tenant move-out in-person walkthroughs
• Rent collection
• Owner funds distribution
• Legal compliance
• Home warranty protection coordination
• Tenant turnover renovation management
• Proactive property inspections
• Proactive maintenance
• Repair and maintenance management through a network of trusted contractors
• Accurate financial reporting
• Year-end 1099 reporting
• Eviction management

Virginia Property Management Group Locations

Virginia Property Management Group operates throughout Northern Virginia including:

• Alexandria
• Annandale
• Ashburn
• Burke
• Centreville
• Chantilly
• Fairfax
• Falls Church
• Great Falls
• Herndon
• Leesburg
• Manassas
• McLean
• Oakton
• Reston
• Springfield
• Sterling
• Vienna
• Woodbridge

Virginia Property Management Group Property Types

Virginia Property Management Group works with single-family homes, condos, apartments, and multi-unit buildings rented out on a long-term basis.

Virginia Property Management Group Costs

Virginia Property Management Group offers three different services packages with flat fees, including:

Bronze: This plan covers all the basic services needed to manage a long-term rental property business.

• Leasing fee: One month’s rent
• Standard listing fee: $300
• Property management fee: $150
• Lease renewal fee: $500

Silver: This plan covers everything in Bronze plus maintenance and repair coordination and management.

• Leasing fee: One month’s rent
• Standard listing fee: $300
• Property management fee: $200
• Lease renewal fee: $300

Gold: This plan covers everything in Silver plus floor plans, home warranty protection management, and eviction management.

• Leasing fee: One month’s rent
• Standard listing fee: $300
• Property management fee: $250, with a 25% discount for the first month

Virginia Property Management Group is different from other property managers in the Virginia market which generally charge percentages of monthly rent. The pricing structure applied by Virginia Property Management Group makes them the best firm for flat fees.

Virginia Property Management Group Terms

Virginia Property Management Group does not discuss the terms of the management contract that landlords need to sign. Thus, interested real estate investors need to get in touch with the team and ask for a copy to review.

Virginia Property Management Group Reviews

More than 100 real estate investors and renters have reviewed Virginia Property Management Group. Their reviews result in an excellent overall rating.

You can find Virginia Property Management Group reviews on:

• Google: Currently 5.0/5 stars based on 108 reviews

Satisfied property owners and tenants praise the fantastic experiences, the outstanding services, the efficient property management practices, the utmost professionalism, the expertise, the attention to detail, the understanding of unique needs, the exceptional helpfulness, and the assistance provided every step of the way.

How to Get Started with Virginia Property Management Group

To get started with the best property management company in Virginia for flat fees, rental property owners can fill in an online form on the Virginia Property Management Group website or call 571-749-2622.

Osprey Property Management: Best for Flexible Options

Osprey Property Management is a local, full-service property management company serving the Hampton Roads area of the Virginia market. The company was established in 1999, with headquarters in Virginia Beach, VA, which makes them one of the oldest property managers in the area. The team aims to help real estate investors experience better revenue by educating clients, giving expert counsel for each investment, and delivering high-quality services for every property owner every time. Osprey Property Management is the best rental property management company in the Virginia market for flexibility as investors can select between four packages to get the exact services they need.

Osprey Property Management Services

Osprey Property Management delivers the following services to Virginia landlords:

• Conducting market analysis to target the property’s fair market value
• Property listing on the MLS
• Property marketing across the internet
• Tenant screening including national eviction search, criminal background, credit history, employment verification, and income verification
• Pet screening
• Drafting the lease agreement
• Move-in and move-out walkthroughs
• Rent collection
• Owner funds distribution
• Enforcing the lease agreement
• Tenant communication
• Owner communication
• Overseeing insurance claims
• Routine inside and outside property inspections including condition reports with photos
• 24/7 emergency maintenance response
• Preventive maintenance
• Property maintenance via trustworthy contractors
• Full accounting
• Detailed financial reporting
• Providing all required tax forms including 1099s
• Recommendations for larger repairs, remodeling, and rehab projects
• Eviction coordination

In addition to these comprehensive property management services, the company also offers access to:

• Guaranteed Rent Program: If the property manager does not lease the property within 60 days, they’ll cover the rent.
• Investment Protection Plan: The Filter Easy Program automatically sends HVAC filters to tenants each month, and the Tenant Liability Program automatically signs residents up for liability insurance under the umbrella policy.
• 30 Day Lease Guarantee Program: Osprey Property Management will provide one month of free property management services in case they don’t rent out the property in the first 30 days upon being ready.
• Eviction Guarantee: The firm will pay up to $1,000 in legal fees should a tenant get evicted.
• Tenant Placement Guarantee: The company will place a new tenant for free in case a resident leaves during the term of the first year of the lease.
• Pet Protection Plan: The property management firm will cover up to $1,500 in pet damage above the security deposit.

Osprey Property Management Locations

Osprey Property Management covers:

• Chesapeake
• Hampton
• Newport News
• Norfolk
• Portsmouth
• Suffolk
• Virginia Beach

Osprey Property Management Property Types

Osprey Property Management works with single-family homes, townhomes, condos, and other types of residential properties rented out on a long-term basis.

Osprey Property Management Costs

Virginia rental property owners can choose from four different services packages including:

Bronze: This plan covers everything needed to rent out a property.

• Leasing fee: One month’s rent
• Setup fee: $250
• Repair coordination: $50/repair
• Move-out coordination and inspection: $175
• 30 Day Lease Guarantee: $150

Silver: This plan covers everything in Bronze plus all the basic services needed to operate a rental business.

• Leasing fee: 50% of one month’s rent
• Monthly management fee: 7.5% of monthly rent for 1-9 properties; 6% for 10-15 properties; 4.5% for 16+ properties
• Setup fee: $250
• Tenant taking over: $500
• Additional inspections: $125/inspection
• Maintenance coordination: $25
• Overseeing insurance claims: $50/claim
• Home warranty coordination: $45
• Eviction coordination: $125
• Eviction Guarantee: $19.95/month
• Tenant Placement Guarantee: $8/month
• 30 Day Lease Guarantee: $100
• Pet Protection Plan: $10/month

Gold: This plan covers everything in Silver plus maintenance coordination, an additional annual inspection, and Pet Protection Plan.

• Leasing fee: 50% of one month’s rent
• Monthly management fee: 10% of monthly rent for 1-9 properties; 8% for 10-15 properties; 6.5% for 16+ properties
• Setup fee: $250
• Tenant taking over: $500
• Additional inspections: $99/inspection
• Maintenance coordination: $25
• Overseeing insurance claims: $50/claim
• Home warranty coordination: $45
• Eviction coordination: $99
• Eviction Guarantee: $14.95/month
• Tenant Placement Guarantee: $5/month
• 30 Day Lease Guarantee: $100

Platinum: This plan covers everything in Gold plus eviction coordination, Tenant Placement Guarantee, and 30 Day Lease Guarantee.

• Leasing fee: $250
• Monthly management fee: 12% of monthly rent for 1-9 properties; 9% for 10-15 properties; 7.5% for 16+ properties
• Tenant taking over: $500
• Additional inspections: $75/inspection
• Maintenance coordination: $25
• Overseeing insurance claims: $50/claim
• Home warranty coordination: $45
• Eviction Guarantee: $9.95/month

This diversity of services plans and pricing options to choose from make Osprey Property Management the top Virginia property management company for flexibility. This is a particularly good choice for the owners of rental portfolios due to the steep discounts available for multiple properties under their management.

Osprey Property Management Terms

Osprey Property Management does not discuss the details of the management contract that owners need to sign. Thus, interested landlords need to get in touch with the office and ask for a copy to review before making a decision.

Osprey Property Management Reviews

There are over 400 online reviews of Osprey Property Management, most of which show excellent experiences.

You can find Osprey Property Management reviews on:

• Google: Currently 4.6/5 stars based on 443 reviews
• Yelp: Currently 1.0/5 stars based on 3 reviews

Positive reviews focus on the great experiences, the seamless and effortless processes, the smooth transactions, the specific and accurate listings, the top-notch, clean, and ready-to-go properties, the efficiency, the organization, the professionalism, the kindness, the amazing customer service, and the outstanding communication. Negative reviews talk about stressful experiences, lack of maintenance and repair services, high vacancy rates, inaccurate charges, and hard communication.

How to Get Started with Osprey Property Management

To get started with the best property management company in Virginia for flexible options, landlords can submit an online form via the Osprey Property Management website or call 757-217-0924.

Richey Property Management, LLC: Best for Landlord Guarantees

Richey Property Management, LLC is a local, family-owned and managed, full-service property management company working with different types of single-family rental homes in Northern Virginia. Sue Richey and Craig Richey started the company in 2006, with headquarters in Reston, VA. The company mission is to provide property owners and renters with the most comprehensive services available in the market. Richey Property Management, LLC is the top property management firm in Virginia for landlord protection as they offer more guarantees than most other companies.

Richey Property Management, LLC Services

Richey Property Management, LLC services include:

• Recommendations on improvements and updates to attract the best tenants
• Rental analysis
• 7-point marketing
• Showings with a dedicated showing agent
• Deep tenant screening
• Lease preparation and negotiation
• Tenant onboarding walkthrough
• Move-in and move-out inspections
• Utilities coordination
• Rent collection
• Owner rent proceeds disbursement via direct deposit
• Compliance with local and state laws
• Managing tenant relations
• Mid-year inspection and smoke alarm certifications
• Unlimited consultation
• 24/7 emergency maintenance
• Maintenance handling
• Complete financial management and reporting
• Year-end tax documents including 1099s
• Eviction oversight

Besides these services, Richey Property Management, LLC also provides the following protections to landlords:

• Leasing Guarantee: The company will find a new tenant for free in case a resident does not stay for 12 months.
• Payment Guarantee: Property owners do not need to pay management fees unless the tenant pays rent as agreed.
• Results Guarantee: Real estate investors do not pay anything until they get a qualified tenant and the tenant moves in.
• Satisfaction Guarantee: Landlords can cancel the management contract at any point, with a 60-day notice, with no termination fees.
• 3 Month No-Risk Guarantee: Property owners can try the company for 90 days and cancel if they are not happy.

The availability of multiple guarantees makes Richey Property Management, LLC the best property manager in Virginia for landlord protection.

Richey Property Management, LLC Locations

The services provided by Richey Property Management, LLC are available in:

• Alexandria
• Arlington
• Ashburn
• Fairfax
• Falls Church
• Herndon
• McLean
• Oakton
• Reston
• Vienna

Richey Property Management, LLC Property Types

Richey Property Management, LLC works with residential single-family homes including detached homes, townhomes, and condos rented out on a long-term basis.

Richey Property Management, LLC Costs

Property owners can choose between two plans including both leasing only and full-service property management. The relevant fees are:

Lease Only Option: This plan covers everything required to place a quality tenant.

• Leasing fee: One month’s rent
• Initial move-in inspection (optional): $275
• Interim inspection (optional): $175
• Move-out inspection (optional): $275
• Professional quality photos and video: $250
• Application processing and lease preparation: $495

Full-Service Management Plan: This plan covers everything in Lease Only Plus plus all ongoing tasks associated with managing a rental property.

• Leasing fee: One month’s rent
• Monthly management fee: 8%-10% of monthly rent for a minimum of $170
• Additional property inspection (optional): $275
• Professional quality photos and video: $250
• Eviction Protection Plan: $10.95/month

Richey Property Management, LLC Terms

Under the 3 Month No-Risk Guarantee, property owners can try Richey Property Management, LLC for 90 days and cancel before the end of this period with no trouble, in case they are not happy with services. Under the Satisfaction Guarantee, investors can opt out of the management agreement at any point, with a 60-day notice, without having to pay any penalty or early termination fees.

Richey Property Management, LLC Reviews

More than 500 property owners and tenants have provided written reviews of Richey Property Management, LLC on third-party websites. Their reviews reveal very good overall ratings.

You can find Richey Property Management, LLC reviews on:

• Birdeye: Currently 4.5/5 stars based on 267 reviews
• Google: Currently 4.5/5 stars based on 249 reviews
• Yelp: Currently 2.5/5 stars based on 27 reviews

Happy real estate investors and renters highlight the professionalism, the ability to handle delicate situations, the knowledge, the ongoing updates, the timeliness, the responsiveness, the quick solutions of maintenance requests, the integrity, the provided suggestions, the available options, and the outstanding team members that always go above and beyond. Unhappy customers complain about frustrating experiences, unprofessional practices, dishonesty, lack of care for tenants, not addressing maintenance requests, and lack of communication.

How to Get Started with Richey Property Management, LLC

To get started with the best property management company in Virginia for landlord guarantees, rental property investors can fill in an online form on the Richey Property Management, LLC website or call 703-471-4800.

Takeaway

These are the 6 best property management companies in Virginia. The absolute top property managers for long-term and short-term rentals are HomeRiver Group and Awning, respectively, as they provide comprehensive services at competitive rates. RedSail Property Management offers the most straightforward pricing model, while Virginia Property Management Group stands out for charging flat fees. Property owners who’d like to be able to choose from different plans should check out Osprey Property Management, and those who value guarantees can consider Richey Property Management, LLC.