Orders can turn a homeowner into a landlord almost overnight.
One day, your home is where you live. You know the neighborhood, the neighbors, the quirks of the house and the maintenance schedule. Then orders arrive, and suddenly you’re planning a move to another state—or another country.
Orders can be surprising or it can be the confirmation of your next duty in your career. The Department helps cover most of your move, but what about your current home. Maybe you’ve decided to keep the home and rent it out while your away. You need expertise to advise you with the home you are leaving. Expertise from a management team that has the experience to show you the best options for your situation.
For many families, keeping the house is a crucial decision. They may expect to return someday. They may have purchased it with the intention of keeping it long-term as an investment. Or they simply believe that selling now doesn’t make sense financially. No matter how it is discussed, this is a personal decision even if this has happened before a dozen times. Keeping the home for you just makes sense financially, personally, or both.
That is when renting your home can become a very practical option.
Becoming a landlord wasn’t necessarily part of the plan
The first thing we tell first time landlords is that you don’t have to become an expert. Laws, local codes, and ordinances differ by jurisdiction and in the DC Metro Region, it can vary wildly. Our expertise is helping you through the process of transitioning to a first time landlord or a new local landlord. You put your trust in your property manager to maintain the value of your property and advise you on options when necessary. Being far away means we’re your only eyes on the property and we take that obligation seriously.
There are plenty of decisions to make before the house becomes a rental. What should it rent for? What needs to be repaired? Should I paint? What happens if something breaks while we’re away? How do I handle a tenant who has a question when I’m several hundred or several thousand miles away? Where do I start?
Our professional property management is designed to answer these questions and more. At Amplus Realty, we’ve been managing properties in the DC Metro Region for more than 15 years. We understand that the home you’re renting isn’t simply an investment property. It may be the place you intend to come back to.
Preparing the home for rental
A successful rental begins well before the tenant moves in. We help owners evaluate the property from an investment perspective that will focus on the important repairs. That means looking at condition, presentation, likely rental value, and advise on the improvements that make financial sense. We work to keep your costs in budget while maintaining or enhancing the property’s placement in our market.
We advise you based on your budget, timeline, and your home’s place in the market. You don’t have to remodel a perfectly functional kitchen simply because the house is becoming a rental. You may not like the fixtures or appliances or are thinking of upgrading. We help focus any work on what features renters look for and expect in their next home.
At the same time, some investment strategies may encourage these upgrades. The goal is to ensure that the property is in the right condition where it can attract a good tenant, command an appropriate rent and be maintained efficiently. Our goal is to meet your financial requirements.
Finding the right tenant
With us, renting your home isn’t simply about finding the first person who’s able and willing to pay the advertised rent.
For our owners, we strive to ensure every tenant we place meets appropriate screening criteria while complying with all laws. The property also needs to be marketed correctly. Pricing matters, too. Price the home too high and it may sit vacant. Price it too low and you may leave money on the table. We explain different pricing strategies for your home. You’ll know the trade-offs (if any) in advance. We want to empower our owners so they feel confident in their pricing decisions.
The DC Metro rental market is highly localized. Fairfax, Arlington, Montgomery County, and Prince George’s County can have very different rental markets in terms of market, demand, and price. You have enough tasks with your move. Researching the rental market, advertising, and vetting applicants takes time. Time you would rather spend on your move. That’s why we see communication is critical both in terms of timeliness and content when leasing a rental.
What happens after you leave?
This is where professional management becomes especially valuable for an out of state owner.
Your next assignment may make it difficult to respond to a maintenance problem, coordinate a repair or answer a tenant’s question. The difference in time and your availability may increase the difficulty encountered when trying to coordinate with tenants and vendors for repairs and maintenance. Sometimes a quick response is required and this only increases the stress of ownership.
We take the stress away by coordinating needed repairs and preventive maintenance. Amplus Realty provides online owner access to, monthly owner statements, tenant documents, inspections, rent collection, lease enforcement documents, maintenance coordination and other services all as part of our property management system.
You can concentrate on your new assignment while knowing that someone local is keeping watch over your property. Information about your property is at your fingertips or a phone call away.
Your move doesn’t have to mean giving up your home
Your service already requires a lot of sacrifice for you and your family. Managing a rental property from across the globe doesn’t need to become another responsibility for you and your family.
If you believe you’ll want your home again someday, renting out your home can provide a way to retain the property and increase your equity while someone else occupies it. There are many financial benefits to keeping your home and renting it out in terms of taxes and investments. You’ll want to contact a tax professional or accountant to understand how being a landlord will change your particular tax situation.
The important thing is to have a plan before the moving truck arrives.
Why Amplus Realty?
At Amplus Realty LLC, we understand that the home you’re leaving may still be part of your future. Our goal is to make owning a rental as straightforward and stress free as possible.
For $150 per month, Amplus Realty provides full-service property management in DC, Maryland and Virginia, backed by more than 20 years of experience in the DC Metro Region. Our services include rental pricing analysis, marketing, MLS listing, tenant screening, inspections, rent collection, owner statements, owner portal access, maintenance coordination, lease enforcement, and more.
You have enough to manage with a new assignment. Let us manage your home.