4 Easy Ways to Get More Rent for Your Virginia Beach Home

As a landlord in Virginia Beach, maximizing your rental income is crucial for sustaining a profitable investment.

This dynamic coastal city is an attractive market for renters, from families looking for the perfect neighborhood to military personnel stationed nearby. However, in a competitive market, knowing how to increase your rent without scaring away tenants is key. 

Here are five easy and effective ways to get more rent for your Virginia Beach home:

1. Upgrade Key Features and Amenities

A well-maintained property with modern amenities can command higher rent. Renters are willing to pay extra for a home that offers comfort, convenience, and a touch of luxury. Here are some upgrades you can consider:

• Modern Appliances: If your home still has older appliances, consider upgrading to energy-efficient models. Stainless steel or smart appliances are highly appealing to tenants.
• Updated Bathrooms and Kitchens: These are two areas that renters look at first when considering a property. A fresh coat of paint, new countertops, or even just replacing old cabinet handles can make a significant difference.
• In-Unit Laundry: In a competitive market like Virginia Beach, renters often seek the convenience of in-unit laundry facilities. This small investment can boost your rental appeal significantly.

Make upgrades that improve the living experience without overinvesting. You don’t need a full renovation, but a few strategic updates can easily justify a higher rent.

2. Enhance Curb Appeal

First impressions matter. The exterior of your property is the first thing prospective tenants see, and it plays a huge role in setting expectations for the rest of the house. Here are some easy and budget-friendly ways to enhance curb appeal:

• Landscaping: A well-maintained yard with green grass, trimmed bushes, and colorful flowers makes a property more attractive. A small investment in landscaping can pay off with higher rent.
• Exterior Paint and Fixtures: Freshen up the paint on your front door, replace any old or damaged light fixtures, and ensure the walkway is clean and welcoming. Tenants will appreciate these aesthetic upgrades and be more inclined to pay a premium.

Curb appeal is especially important in a city like Virginia Beach, where outdoor living and neighborhood ambiance are huge factors for renters. Make your property stand out by making it inviting from the moment they arrive.

3. Make Energy-Efficient Improvements

Energy efficiency isn’t just about saving the planet—it’s about putting more money in your pocket. Tenants today are more conscious of utility costs, and many are willing to pay more for a home that helps them save on energy bills. Simple energy-efficient upgrades can attract renters and justify higher rent:

• Energy-Efficient Windows: Install double-pane windows or add insulation to improve the home’s energy efficiency. This reduces heating and cooling costs, which is a big plus for tenants.

• Smart Thermostats: Investing in a smart thermostat allows tenants to control their heating and cooling more efficiently, resulting in lower utility bills.
• LED Lighting: Replacing old light bulbs with energy-efficient LED ones is a cost-effective way to modernize your property and cut energy costs.

These small changes make your property more eco-friendly and attractive to tenants who value sustainability, allowing you to charge higher rent for the added benefit of reduced energy bills.

4. Price Your Property Competitively

Even if your rental property is top-notch, setting the right rental price is essential to attracting and retaining tenants. If your rental rate is too high, it may sit vacant longer than necessary, but if it’s too low, you miss out on potential income. Here’s how to find the right balance:

• Research Comparable Properties: Check out similar homes in your neighborhood to see what they’re charging. Websites like Zillow, Trulia, and Rentometer can provide insight into what tenants are paying for similar homes in your area.
• Seasonal Considerations: Virginia Beach is a popular area for military families, students, and tourists. The demand for rental properties can fluctuate throughout the year, so it’s important to time your price adjustments with market trends.
• Offer Rent Specials: If you need to fill a vacancy quickly, offering move-in specials like a free first month’s rent can help you fill the property faster. 

Competitive pricing is about being smart and flexible. A slight adjustment in your asking price could mean fewer vacancies and more consistent rental income over the long term.

Why You Should Work with a Professional Property Management Company

While managing a rental property on your own might seem like a good way to save money, working with a professional property management company can actually help you earn more rent. Here’s why:

• Expert Pricing Strategies: Property managers have in-depth knowledge of the local market and can help you set the optimal rental price. They consider factors like location, amenities, and the current rental market, ensuring you get the most for your property.
• Attracting High-Quality Tenants: Property management companies use proven marketing strategies to attract a larger pool of high-quality tenants. This reduces vacancies and ensures you get reliable renters who are willing to pay more for a premium property.
• Maintenance and Repairs: A well-maintained property commands higher rent. Property management companies take care of routine maintenance and emergency repairs quickly, preserving your property’s value and tenant satisfaction.
• Tenant Management: From screening tenants to handling lease agreements and rent collection, property managers work with landlords and tenants to ensure everyone has a positive experience. This ensures timely rent payments and minimizes the risk of problem tenants, reducing the stress for landlords.

• Legal Knowledge: Virginia has specific landlord-tenant laws that can be complex. A property management company ensures that your property is in compliance with all local and state regulations, protecting you from costly legal issues.

By working with a professional property management company, you can maximize your rental income without managing the day-to-day operations of your Virginia Beach property. These experts not only help you achieve higher rent but also ensure your investment remains profitable and well-maintained in the long run.

Conclusion

Getting more rent for your Virginia Beach property doesn’t have to be complicated. By following the above tips, you can optimize your rental income while keeping your property attractive to high-quality tenants. 

To stay competitive in Virginia Beach’s thriving rental market, work with a professional property management company like Limehouse Property Management.