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2024

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Best Property Management Companies in Roanoke, VA

Our Recommended Top 3

We did the research for you!

  • Licensing
  • User Reviews
  • Mystery Shopping Calls

Our goal is to connect people with the best local professionals. We scored Roanoke Property Management Companies on more than 25 variables across five categories, and analyzed the results to give you a hand-picked list of the best.

21Reviewed

13Curated

3Top Picks

Learn about our selection process.

Providers

featured provider = Featured Provider

4119 Franklin Road, Roanoke, VA 24018

Expertise.com Rating

Review Sources

Google
4.7 (49)
Facebook
4.6 (15)

Why choose this provider?

Based in Roanoke, Cornerstone Property Management assists residential and commercial property owners with day to day operations and management tasks. The company provides rental listings on its website, and potential renters can access applications directly through the online listings. Additional property management services offered include resident placement, tenant screenings, creation of property performance reports, and residential relations. The business handles all financial matters for its properties, and it offers marketing and advertising services.

  • Maintenance
  • Marketing
  • Leasing

3904 Franklin Rd. Suite A, Roanoke, VA 24014

Expertise.com Rating

Review Sources

Google
4.0 (1)

Why choose this provider?

Real Property Management Colonial is a property management company in Roanoke that has been serving residential rental property owners and tenants for the past 25 years. The property managers at this company specialize in managing rental homes. They also perform maintenance for other types of properties including apartment complexes, REO properties, common interest communities, and commercial properties. This company implements comprehensive marketing and advertising to help reduce vacancy time. It also conducts intensive tenant screening and selection and handles full-service leasing.

  • Maintenance

35 Luck Avenue, Roanoke, VA 24011

Expertise.com Rating

Review Sources

Google
4.6 (233)

Why choose this provider?

MCE Property Management supervises single-family homes and apartment complexes in Roanoke. It helps people find the right homes to rent. It advertises vacancies on its website by providing pictures of the property and its details like rental rate, security deposit, availability, nearby schools, and rooms; as well as amenities like flooring, garage, and parking space. MCE Property Management accepts online applications from prospective renters and maintenance requests from residents. It also provides online account settlement and a tenant portal.

  • Tenant Management/Customer Service

Compare our Top Property Management Companies

NameExpertise RatingAddressPromotionsLearn more
Cornerstone Property Management
4119 Franklin Road, Roanoke, VA 24018
Real Property Management Colonial
3904 Franklin Rd. Suite A, Roanoke, VA 24014
MCE Property Management
35 Luck Avenue, Roanoke, VA 24011

FAQs

  • What is property management?

    Property management is the business of controlling and overseeing real estate, including residential and commercial rental properties. These professionals handle general maintenance and day-to-day operations on behalf of the property owner. They’re responsible for marketing properties, finding and screening tenants, collecting rent, and preparing units between leases. They may also handle repairs, evictions, and any problems that arise.

  • What does a property manager do?

    Professional property managers perform critical tasks throughout the leasing life cycle, from preparing a rental property, through tenant move-ins and move-outs. They can also provide referrals for legal advice, home repairs, and services that aren’t covered by the management agreement. Here are some of their key responsibilities:

    • Marketing and listing vacant units
    • Processing applications and screening tenants
    • Conducting quarterly and annual inspections
    • Orchestrating move-in procedures
    • Coordinating maintenance and repairs
    • Collecting rent and applying penalties
    • Conducting move-out inspections and returning deposits
    • Handling evictions and posting quit notices
    • Complying with fair housing regulations
    • Compiling monthly expense reports
    • Preparing annual tax documents

  • How much do property management companies charge?

    Property management fees can vary substantially depending on the size of the property, number of units, and scope of service. Property owners can expect to pay one month of rent to fill vacant properties and 10% of the gross cash flow to manage the property. Investors should also account for monthly maintenance, contributions to a reserve repair fund, and early termination fees if they decide to cancel the property management contract. Evictions and other non-routine services typically cost extra.

  • How do I manage a rental property from out of state?

    Managing a property isn’t easy, and the job is even more difficult for out-of-state landlords. Thorough tenant screenings are the best way to prevent many common problems. Landlords should also maintain strong relationships with neighbors who can alert them if anything goes wrong. Investors who prefer a more hands-on approach should consider hiring a property manager to represent their interests.

  • Does a property manager need a real estate license?

    Yes, in most states, property managers must have a real estate license to advertise rentals, show properties, sign lease agreements, collect rent, and perform other fiduciary activities. A community association manager license or similar certification may also be required for professionals who want to work for an HOA or apartment complex, although this credential is optional in most states.

  • How do I find a good property management company?

    Property managers differ significantly in their approach and level of expertise. It’s important for owners to screen potential candidates to ensure that they're choosing the most qualified professional. Here are a few questions to ask during the interview:

    • How many units do you manage?
    • How big is your staff?
    • Do you have a maintenance crew?
    • How long does it take to fill vacant units?
    • What happens if my tenant doesn’t pay on time?
    • Have you ever filed an eviction?
    • What type of communication can clients expect from you?

  • Do property management companies find tenants for rental properties?

    Yes, finding tenants and filling vacancies are key responsibilities for property managers. These professionals are responsible for advertising the property, and they handle all inquiries, applications, and showings. To find the most qualified tenants, managers perform background and credit checks, verify references, and confirm the applicant’s employment information, which can prevent problems and extra costs down the road.

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