Richey Property Management
Richey Property Management
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When Should You Consider Selling Your Rental Property?
Are you thinking about selling your rental property? Rentals are a great investment, and it can be difficult to know when it’s finally time to walk away. We’ve counseled many landlords on when the best time to sell for them is, which is why we’re going over three common situations when it might make sense to sell your rental. First, if cash flow is significantly decreasing or even going negative, it might be time to sell. To learn more, check out this video.
Learn more: blog.richeypm.com/when-should-you-consider-selling-your-rental-property.html
CHAPTERS:
00:00 - Introduction
00:49 - Declining cash flow
02:10 - Market appreciation
03:09 - Changing goals or life circumstances
04:12 - Wrapping up
#richeypropertymanagement #reaalestate #virginiarealestate
🔻ABOUT US🔻
Sue and Craig Richey founded Richey Property Management in 2006 as a sideline service for their real estate clients, leveraging their experience as licensed Realtors since 1998 and their understanding of landlord challenges from owning rental properties. Their commitment to personalized service and effective management has grown the company to over 1000 properties and 21 employees. They emphasize the use of advanced technology and a hands-on approach, from property preparation to tenant qualification and ongoing management. Their goal is to provide a stress-free experience for all rental property owners. And, they are a one-stop shop - helping clients find rental properties, lease them, manage them, and maintain the property to maximize value and create generational wealth.
Sue and Craig are deeply involved in community and industry organizations, reflecting their belief in giving back. Sue has served as the Chairman of the Board at the Fairfax County YMCA and has participated in various leadership roles in the community. Craig was very active with the Vienna Rotary and NARPM, bringing best practices and continuous learning to their business. Their dedication ensures that owning rental property is hassle-free for their clients, embodying their motto, "Managing to do MORE," by providing superior service and constant improvement.
🔻CONTACT INFO🔻
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👉Free Rental Analysis
www.richeypm.com/northern-virginia-property-management
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Sue Richey
Richey Property Management
11870 Sunrise Valley Drive #201
Reston, VA 20191
📞703-471-4800
📧info@richeypm.com
💻www.richeypm.com
🔻FOLLOW US 🔻
[FACEBOOK] RicheyPropMgt
[INSTAGRAM] richeypropertymgmt
[LINKEDIN] www.linkedin.com/in/suerichey/
zhlédnutí: 50

Video

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zhlédnutí 219Před 21 dnem
Are you a landlord looking to protect your investment property? Understanding the key clauses in your insurance policy is essential to ensure you have the right coverage. From property damage to liability protection, these clauses can make a significant difference. Knowing what to look for can give you peace of mind and save you from potential financial losses. Watch the video now and learn mor...
Can I Store Items In My Rental Property With A Tenant In Place? Ask Sue!
zhlédnutí 188Před 2 měsíci
We get this question all the time.. Can I leave items in the property and lock them off and keep them off limits to tenants? Leaving belongings in your rental property with a tenant is a bad idea. Things can get stolen, damaged and it can be a huge liability so think twice when doing that and instead, get a storage unit if you want to keep personal items until you return. Investing in your educ...
Rental Property Upgrades - Benefits Of New Window For Landlords
zhlédnutí 140Před 3 měsíci
Replacing windows is a great update for a rental property in so many ways. Renters love it for the ease of use, safety and lower energy bills. Window replacement in a rental property also adds value to your home as well and we all know that doing updates over time continues to improve your property and spread out the cost. I’m talking with one of our contractor partners about the right kind of ...
Hoarding And Your Rental Property (What You Need To Know)
zhlédnutí 440Před 3 měsíci
Hoarding is fairly common and we've seen it a fair amount in the properties that we manage. How you deal with this as a landlord is important because hoarding is a mental debilitating illness and technically considered a disability and protected under Fair Housing Laws. So you need to educate yourself if your tenant is showing signs of hoarding so that you can handle the situation correctly to ...
What Do Property Management Companies Really Do?
zhlédnutí 1,4KPřed 3 měsíci
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zhlédnutí 891Před 6 měsíci
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Repair Deductibles - Should You Charge Your Tenant?
zhlédnutí 578Před 6 měsíci
Repairs are part of owning a rental property- or any property for that matter. But if you think charging your tenant a deductible for any repair is a good idea, well.. it may not be such a great idea in your rental property. Some issues may go unreported and can turn into bigger problems so I'm talking about some things you should think about before you decide what you should do. My Property Ma...
Making Insurance Claims On Your Rental Property (What You Need To Know)
zhlédnutí 377Před 6 měsíci
Knowing when to make an insurance claim and when not to make one is so important when protecting your property and your pocketbook. Making too many claims can result in increased premiums and even getting dropped by the insurance company. Want some great insurance advice from Stacy Tucker, State Farm Insurance? In this interview, we talk about what factors to consider when you have damage to yo...
My New Book Is Out!
zhlédnutí 115Před 9 měsíci
I've been working on a project for nearly a year and now my book is finally done and on Amazon! My goal was to be able to help fellow real estate investors outside my geographic market. This book is about all the things that come after you buy a rental property and how you can be the most profitable you can with your rental property. I hope you'll check it out! Check out my new book, PURCHASE T...
Resources Every Landlord Needs To Have
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Can't Sell Your Home in Northern Virginia? You've Got Options
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Why Northern Virginia is a GREAT Place To Buy An Investment Property
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9664 MASTERWORKS DRIVE, Vienna, VA 22181 - Townhouse - Real Estate - For Rent
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zhlédnutí 46Před rokem
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zhlédnutí 31Před rokem
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zhlédnutí 3,2KPřed rokem
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zhlédnutí 157Před rokem
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Komentáře

  • @littlegreenscavenger2932

    Parasite

  • @fernstaton3530
    @fernstaton3530 Před 3 dny

    I wasn''r supposed to be this way. Prior to renting, the "wife" came to me begging to be my next tenant, and I knew her so considering her as a tenant could work. "You have to promise me you'll have the rent by the first of the month. My lender collects my mortgage on the fourth from my bank account. I don't have that kind of money and can't cover that for you." She hugs me and with tears in her eyes says ,"thank you...thank you." I told them thje rent was $1500 a month. This is much lower than any other rental in our county but she was practically family , had small kids and they were building their own business. Is the hair standing up on the back of your neck?To help make it easier for them to move in i cleaning deposit and the security deposit for them doing the fine cleaning after my last tenant moved. They wanted new carpet and paint. So with them cleaning and improving the flooring (to their desire) we struck a deal. When the 1st months rent was due, they grew quiet and said "You said the first month was free. I used that time to clean that filthy house." My mouth dropped open. But for the sake of peace, I let it go and collected rent the next month. But there would be no more paid rent, not on time at least and not in full and phone calls to them asking when I could expect the rent went unanswereed and eventually, they promised to charge me with harrassment. What? Anyway before i loose all of you readers, the months flew by with a little bit of cash here and an unannounced deposit in Pay Pal (who puts a 21 day hold on high dollar deposits.)So we were forced to serve them a 30 day notice and we would follow that with an unlawful Detainer or court order. Family pitched in to help me pay my mortgaqge payment and avoid losing my own home. First couirt hearing? They insisted they paid on time and in full and because of a loop hole in the delivery of the documents and the case was given to the tenants because they were, afterall, good people. Eviction will still take place but Im not sure where I'll be living at that time.

  • @anurags7392
    @anurags7392 Před 15 dny

    Hi! I realize as I ask it’s an old video. Will you be able to share the link to the addendums you mentioned at the end of the video please?

  • @seandre59
    @seandre59 Před 18 dny

    Some of you all complain too much

  • @seandre59
    @seandre59 Před 20 dny

    Landlord and home owners insurance are two different things

  • @connorrampage7110
    @connorrampage7110 Před 21 dnem

    This is what home owners Insurance is for!!!!

  • @gazd4812
    @gazd4812 Před 23 dny

    maybe change your title to how to CLEAN

  • @cynthiasiddall1285
    @cynthiasiddall1285 Před 24 dny

    There are professional squatters who do that sll the time!!!!

  • @roblucarelli4967
    @roblucarelli4967 Před měsícem

    How much????

  • @jimross2101
    @jimross2101 Před měsícem

    Also, equally bad if they haven't applied their security deposit and / or 1st months rent yet.

  • @Bassomegathekingofdarkness

    How about smoking in the property or modify the apartment and the lease said not too

  • @cliffordarocho3850
    @cliffordarocho3850 Před měsícem

    This is too much common sense to make a video for. What about the small rectangular filter!?

  • @jonnypm5292
    @jonnypm5292 Před měsícem

    Yes my tenant gave me a 30 day notice that they are moving out. Do they still need to pay me rent for that month ?

  • @sandrabraga6027
    @sandrabraga6027 Před měsícem

    Month to month leases is better because it protects the landlord against tenents that are not responsible with their contract.

  • @Cqueensoaps
    @Cqueensoaps Před měsícem

    Thank you this was informative.

  • @GJ-is6sv
    @GJ-is6sv Před měsícem

    If we’re trying to rent an apartment, what is “Rent Override”? Also, what does it mean “Rent change from 0 to 13”?

  • @feri-nh1rc
    @feri-nh1rc Před měsícem

    Thanks

  • @ldstiesto
    @ldstiesto Před měsícem

    My guess is that this webinar happened last year

  • @ScorpioStudd
    @ScorpioStudd Před měsícem

    For the clause on renter's insurance policy, how does it unblur the lines to benefit the landlord.I didnt quite understand that last part.

  • @sheliastarcher
    @sheliastarcher Před 2 měsíci

    Didn't treat the tenants all the same and would even scratch up my new car

  • @sheliastarcher
    @sheliastarcher Před 2 měsíci

    How do I contact you about bad landlord

  • @sheliastarcher
    @sheliastarcher Před 2 měsíci

    My landlord would raise my rent at anytime he felt like it. It was HUD low income rental housing apartments, he over charged me all 4 years I lived there and would laugh at me when he got by with it

  • @MrDavePed
    @MrDavePed Před 2 měsíci

    Volume too low.

  • @mimihoffy
    @mimihoffy Před 2 měsíci

    Yes, the music is not only distracting but also intensely stress provoking

  • @TheNetwork650
    @TheNetwork650 Před 2 měsíci

    Great insight on negative cash flow situations. I’m facing a negative cash flow situation now and your opinion helps. Thank you

  • @phoso1
    @phoso1 Před 2 měsíci

    NEVER EVER rent to a bunch of young adults. No matter who will co-sign for them. I’ve been in this game for 20+ years, they will destroy your place and someone in the group won’t pay the rent. LET another greedy sucker hold the shit bag.

  • @cherylfrancis9368
    @cherylfrancis9368 Před 3 měsíci

    Curious best way to do inspections for midterm rentals under 5 months?

  • @davidpiccuta2276
    @davidpiccuta2276 Před 3 měsíci

    Excellent content, thank you, 21 years of owning multi family properties. Many now need the windows replaced.

  • @gloriajean5360
    @gloriajean5360 Před 3 měsíci

    Does rematch managers have a site to go to for crappy tenants pr is there a page for you guys to vent about bad days with the job.... Why do yall just go silent on people I get at least 6 of 8 managers that just go silent on me I have a clean criminal background my credit is 671 with both credit places my rental history is pretty good I have around 8 years decent history yet I've ran into slumlords with every place I've lived well all but maybe 1 that was a good landlord so why just ignore me when I give my name to you??? Why do you get to charge over 5k for nothing I get chatgd 5$ per tack hole 20$ per light bulb I've left every unit cleaner than when I moved in and when I move out I get huge bills for 3 plus thousand dollars why do slumlords do this they charge out the nose for everything.... why and how can you refuse a walk through going in and out with tenants bcuz I get refused these with everywhere I've lived. I do have section 8 .... I went 3 months without an oven/stove and the unit had a fire q week after moving in and it took this lady 5 months to fix it yet she demanded rent in full. Is it just mn ..... u have way tonmany questions

  • @georgekatogiritis7355
    @georgekatogiritis7355 Před 3 měsíci

    I own a rental property and it’s a pleasure to manage it myself

  • @uniformworld99
    @uniformworld99 Před 3 měsíci

    Bad grammar and weird headline. Sounds like landlord hoarding the rental property. It should say tenants hoarding at your property. Food for thought!

  • @shawmeck9323
    @shawmeck9323 Před 3 měsíci

    How do we verify if documents are legitimate?

  • @roberthall6161
    @roberthall6161 Před 3 měsíci

    Great information.

  • @nathanielcook3579
    @nathanielcook3579 Před 3 měsíci

    If you don’t want to deal with maintenance do not be a landlord. Saying you’re annoyed because a tenant is calling with legitimate issues means you are a slumlord.

  • @KienThucDoDay
    @KienThucDoDay Před 3 měsíci

    good info, tx

  • @benalexender3046
    @benalexender3046 Před 4 měsíci

    Thank you!

  • @Orixbby
    @Orixbby Před 4 měsíci

    Hi my tenants always paid rent late, then haven’t paid since december i am now evicting them but they requested a jury trial which is aggravating to me because he is a real estate agent who is just trying to delay and play the system and not pay. I’m so stressed out and just hope this nightmare is over i hope the court sees my side is the truth and they don’t pay so they have to go

  • @QuangNguyen-pk4op
    @QuangNguyen-pk4op Před 5 měsíci

    Lot of helpful information here. Thank you!

  • @raliomuse3904
    @raliomuse3904 Před 5 měsíci

    What do you advice if the evaluated PM states in their contract that they can’t release credit report, background check, and any personal government identification ???

  • @ghumankaur104
    @ghumankaur104 Před 5 měsíci

    How to find their previous landlord?

  • @deficator750
    @deficator750 Před 5 měsíci

    negative cash flow is bad when house prices are falling.

  • @TheHiperborean
    @TheHiperborean Před 5 měsíci

    You forgot to mention the stool samples, skull check, carma picture and a personal horoscope. How on earth can you let anyone without checking it ? (Sarcasm).

  • @billbaber6653
    @billbaber6653 Před 5 měsíci

    Good tips lady

  • @Fairplay2015
    @Fairplay2015 Před 5 měsíci

    Thank You, You are Sweet and very helpful!!

  • @kamalshrestha1276
    @kamalshrestha1276 Před 5 měsíci

    Thank you , right on time of tax filing as refresher being a first timer.❤

  • @Vonity_
    @Vonity_ Před 5 měsíci

    If a stove was very rusted and old and I pressed the button on the panel and the panel broke, who is responsible?…

  • @carolinac4406
    @carolinac4406 Před 5 měsíci

    Great tips! Thank you!

  • @marilyn2m
    @marilyn2m Před 5 měsíci

    Thank you !!! I had had in my list for a bit tooo long - now I feel confident that I can do it easily 🙏

  • @Malika_Deci
    @Malika_Deci Před 5 měsíci

    Is this a housing code or a rental code? What section is this in? Does it also have zoning housing codes.

  • @saaannttaannaa
    @saaannttaannaa Před 5 měsíci

    excellent content thank you both