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Best Property Management Companies in Lynchburg

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Derbyshire Real Estate logo
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Derbyshire Real Estate

5900 Fort Avenue, Lynchburg, VA 24502
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  • Maintenance
  • Collection

Business Description

Derbyshire Real Estate is a full-service real estate rental service and property management firm that serves residential and commercial clients in Lynchburg and its nearby districts. It specializes in helping its clients acquire income-generating properties and assists them in the property management phase of maintaining and generating income for their investments. The company also engages in the sales and acquisition of properties for individuals in search of a new home.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
3.8
Google
3.9 / 5 (45)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail
Property Management Specialists, LLC logo
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Property Management Specialists, LLC

7335 Timberlake Road, Lynchburg, VA 24502
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  • Marketing
  • Accounting Services
  • Tenant Screening

Business Description

Property Management Specialists, LLC serves property owners from its Lynchburg location. The company's property management solution covers property marketing, accounting, and tenant acquisition. Its professionals advertise vacant properties through various platforms such as Zillow, Uloop, and Facebook. Furthermore, they personally conduct home showings. Eviction records, employment reports, rental history, and credit ratings are checked during the tenant screening process. Property Management Specialists' agents also conduct terrorist checks, background checks, and sexual predatory registry reviews.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Google
5.0 / 5 (3)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail
Real Property Management - Cairn logo
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Real Property Management - Cairn

1071 Claymont Drive, Lynchburg, VA 24502
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  • Maintenance
  • Marketing
  • Collection
  • Leasing
  • Accounting Services
  • Tenant Screening

Business Description

Real Property Management Cairn is a Lynchburg-based company that provides management services for residential properties in the city and throughout its nearby areas. The company handles all aspects of the landlord-tenant relationship. That includes marketing vacant properties and showing them to prospective tenants, providing move-in and move-out inspections, and collecting rent. Its team also takes care of all property maintenance and is available to respond to tenant emergencies 24 hours a day.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.7
Google
4.5 / 5 (8)
Facebook
5.0 / 5 (4)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail
Remax - Kandise Powell logo
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Remax - Kandise Powell

2600 Memorial Ave. Suite 202, Lynchburg, VA 24501
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  • Marketing
  • Accounting Services
  • Tenant Screening

Business Description

Remax - Kandise Powell is a Lynchburg-based realtor who offers property management services for residential property owners. That includes tenant screening, accounting, and marketing. Her screening process includes a thorough check of the prospective tenant's credit history, employment, criminal records, and previous rental history. In addition to property management, Kandise Powell also works with homeowners who are looking to sell their properties, as well as individuals and families who are interested in purchasing a new home.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.2
Google
4.0 / 5 (57)
Facebook
4.8 / 5 (25)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
4.0
Responsiveness
Friendliness
Helpfulness
Detail
––
Thousand Hills Property Group logo
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Thousand Hills Property Group

Forest Road, Lynchburg, VA 24502
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  • Maintenance
  • Collection
  • Tenant Screening
  • Property Inspection

Business Description

Thousand Hills Property Group provides property management solutions to its clients in the Lynchburg area. Some of its services include tenant screening and control, maintenance and repairs, and property marketing to give houses high visibility. It also offers exclusive services, such as cash flow protection programs, eviction protection, and multi-point annual home inspection. In addition, Thousand Hills Property Group assists home buyers and sellers with its different real estate solutions.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.5
Google
4.4 / 5 (5)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail
Watts Property Management logo
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Watts Property Management

372 Village Highway, Rustburg, VA 24588
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  • Tenant Screening

Business Description

Watts Property Management is a company serving residents living in Lynchburg and nearby locations. The company offers property management services for townhomes, rental homes, apartments, and other kinds of residential properties. It markets for-rent properties and assists owners in managing their properties. Aside from real estate properties, Watts Property Management also engages in land or hunting leases wherein landowners can lease out their properties to hunters, sportsmen, and outdoorsmen. Crystal Smith, its property manager, carries extensive experience in office management and finance.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.2
Google
3.8 / 5 (15)
Facebook
5.0 / 5 (10)
Yelp
3.0 / 5 (2)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
4.0
Responsiveness
Friendliness
Helpfulness
Detail
––
WFLP Property Management, LLC logo
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WFLP Property Management, LLC

2050 Langhorne Road, Lynchburg, VA 24501
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  • Marketing

Business Description

WFLP Property Management, LLC offers management services to residential property owners. Its property managers in Lynchburg handle townhomes, for-rent homes, and student and luxury apartments. They assist in property marketing, coordinating with prospective tenants for property viewings. Moreover, they screen applicants, reviewing credit reports, conducting background checks, and contacting references. Maintenance issues are resolved with the company's network of service providers, including emergency requests. WFLP Property Management, LLC aims for low eviction rates with an in-house application and approval process.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.3
Google
3.8 / 5 (18)
Yelp
3.0 / 5 (4)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail
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Frequently Asked Questions

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.

How do I manage a vacation rental property?

Managing a vacation home or short-term rental requires a higher level of involvement when compared to other investment properties. Owners or managers must handle marketing, reservations, check-ins, and cleanings between stays. While a recent study by vacation rental marketplace HomeAway (now part of VRBO) reports that vacation rental income comprises about a quarter of the average rental owner’s income from investing just under 10 hours per week managing their rental, this type of hands-on involvement may not be possible for owners who live out of state or in another region. Professional property managers can assist with one or more tasks, such as cleanings and check-ins, or they can provide comprehensive management services to ensure that the property is generating revenue year-round.

Do property managers pay for repairs?

Yes and no. Property managers may pay for repairs, but the cost is generally deducted from future rent payments or a reserve fund. In most cases, landlords are responsible for maintenance costs and improvements that are needed to preserve or enhance the property’s value. Management firms do coordinate repairs, and some have their own maintenance crews. They can also provide contractor referrals and handle work orders for routine repairs, such as cleaning, painting, plumbing, and changing locks between tenants. Many firms allow tenants to submit maintenance requests online, and they should also provide monthly expense reports showing owners how their money is being spent.

Can a property manager evict a tenant?

Yes, property managers can help to orchestrate the eviction process, from preparing the initial notices to appearing in court and working with law enforcement to ensure that the tenant leaves the property. Situations that warrant eviction include non-payment of rent, lease violations, and illegal activity. Property managers can help to determine the best course of action when dealing with problem tenants.

Can a property manager sign a lease for an owner?

In most states, a property manager can sign a lease. Property owners can appoint a third party to act as a landlord by signing a contract with a management company or by giving power of attorney to a private individual. However, for the contract to be valid, the property manager must have the owner’s authorization.

Is property management worth the cost?

Property managers aren’t cheap, but they’re a worthwhile investment in many cases. Managing a rental property requires time, experience, diligence, and attention to detail. Professional property managers can assist new landlords and long-term investors who have a growing portfolio of rentals. They’re also valuable partners for individuals who work full time, live out of state, or want to enjoy the financial rewards of an investment property without added stress and anxiety.

How do I deal with a bad property management company?

Unresponsive property managers cause problems for property owners and tenants. Reputable management firms should work hard for their fees. No landlord wants to hear from their tenants that the management company isn’t doing its job or is ignoring their concerns. If the manager is skipping routine inspections, accepting bad tenants, or failing to provide monthly expense reports, it’s probably time to hire someone else. Owners should interview several candidates, compare rates, and check references to find a more qualified manager.

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