Rental Management

You get the cash flow. We get the work.

Your investment in your condominium is a business like any other. As a landlord, you have expenses, income and with perserverance the expectation of financial reward.

In the business of real estate investment, nearly all cashflow comes from tenants. And that's the catch: If you have tenants, you will have problems. Even the best of tenants have needs and all properties will require maintenance or management at some point.

A good renter will respect your property and pay timely rent. A bad renter can damage or destroy your property. The worst of all renters damages your property and does not pay any rent at all. Life's too short to deal with bad renters.

At Condo 1, we'll find the best quality renter for your property. Once the property is leased, we'll do the administration and handle the details of managing the property. We'll maintain your good name and foster good relations between you and the tenant, but we will set clear boundaries so that your renter understands his rights and duties as a tenant.

Call us now to discuss how Condo 1 can serve your needs: 703 765 0300.

Association

Everyone has heard the saying, "location, location, location." Location is a prime driver on real estate pricing, but when it comes to condominiums the condo association is just as important.

The condo association is the governing body of a condominium's management and finances. Usually condo associations are managed by volunteer residents elected at annual meetings. The volunteers are most usually organized into a board of directors. The board manages and selects the management company, property manager and makes other key decisions that affect the budget, up-keep and general operations of the condominium association.

Good management keeps condo fees as low as possible. At the same time, the board must ensure that all necessary maintenance is done. The board must also set aside some money in the budget to pay for future expenses such as the roof or replacement windows. It's not an easy task to do well.

In the Commonwealth of Virginia, a condo buyer has a right to review the association rules and finances after the contract is signed. The buyer has a review period of three days. If for any reason the buyer does not like what he finds in the condo documents during the review period, then the buyer can cancel the contract.

A good association makes a good community. A poorly managed association can lead to problems down the road. For this reason, in condominiums we say, "Location, location, association."