Foreign service personnel live lives that may take them around the world, with assignments typically lasting longer than a year or even two. This is both too long to leave your home unguarded, and too little time abroad to make selling your home worth the hassle. Have you ever considered turning your Arlington home into a rental property while you're abroad?
Being a rental property owner is a challenge in any circumstance. However, with a full-service Arlington property management team like RentSimple looking after your great rental space, you'll have someone paying you to look after your home! A high-quality renter is more than guaranteed cash flow; they're a deterrent against home invasions of an empty property.
Working with a professional like RentSimple means you also have an ally committed to ensuring fantastic customer service and care of your renters, allowing you to be a hands-off investor while you're busy on assignment. When you have such a skilled partner, the workload of investing in the Arlington rental market via your home or another property you purchase should never be a deterrent to long-term wealth.
Investing in property is an excellent plan if you find that you're about to be stationed abroad—even if you get started using your own home while you're away. However, it all comes down to the unique rental market we have here in Northern Virginia.
Understanding Unique Aspects of the Market
The housing market in Northern Virginia is a bit unusual because of the job market created by the CIA, Department of Defense, The Pentagon, and Fort Belvoir in Fairfax County. While some of these excellent career-level jobs are stationary, with people putting down roots in Northern Virginia and buying homes, there are even more positions that last for only two or three years before rotating to a new assignment. Even high-level officials may be in the market for a rental rather than aiming for homeownership for such a brief stay.
As a result, the rental market is particularly strong in this area, creating opportunities for higher-end property investment and renters who might, in another line of work, have settled down and bought their own homes. As the experts in Arlington property management, our years of experience have allowed us to grow and meet these unique housing needs for such discerning residents.
If you're considering taking the plunge into buying rental properties or leasing your own home, you'll need insight into what makes a potential rental property attractive in the Arlington area. Whether it's a spacious home close to The Pentagon or that the property is semi-furnished or furnished.
Reaching out to the experts at RentSimple is the easiest way to learn more about what appealing qualities any rental properties in Northern Virginia need to attract the highest quality residents.
A Calling and an Honor to Serve
The resident-investor relationship has the potential to be particularly positive in the Northern Virginia area. Aiming for excellence feels even more meaningful when you know that your well-maintained, functional, and beautiful rental property will be a positive, peaceful space for a serviceman or servicewoman who is making sacrifices for the sake of our country.
The benefit comes back to you, however, because members of the military or federal government are often respectful, model renters whose attention to detail keeps your property in great condition, saving you time and effort on maintenance and repairs each year while you're away on your own assignment. It's a nice back and forth to know that your hard work makes a military family's life better while they also treat your property well.
With the right Arlington property management, you'll be providing an excellent place to live no matter where your assignment takes you. In this way, you're building up and improving your community when you provide great spaces for great people to call home.
Property investors who have invested in other locales may be frustrated at first to discover that few residents in this area of Northern Virginia become long-term residents, no matter how stellar the service you provide. However, there are positive tradeoffs despite the frequent turnover of renters in this area. Military personnel tend to give ample notice to assist your Arlington property manager in placing new residents after move-out.
Military personnel are also always arriving, meaning that there's a steady stream of new people who are in the market for a home—and you can provide that home for them. An expert Arlington property manager will already have been keeping track of the best ways to advertise properties to new potential military renters, so they can help you turn vacant properties around much faster than in areas with a less-saturated rental market.
Property Management Helps You Deliver Great Service Without Headaches
Perhaps your foreign service work is already taking up the majority of your time, and you're concerned that fitting property investment work into your busy life will be a challenge. While this may be true if you try to go it alone, working with a full-service property manager helps you gain the benefits of owning rental property without the work.
At RentSimple, we handle the day-to-day interaction with your renters, making sure they're having a good experience and responding promptly to any unexpected maintenance requests. We are aware of the level of service that government personnel expect for their high-end rentals, and we are committed to ensuring they always receive the gold standard of care.
Foreign service personnel shouldn't hesitate to move into the property investment world—especially with many Arlington and other Northern Virginia properties rising in value. You don't have to answer midnight calls in order to be a rental property owner: focus on your assignment, and leave the rest in our capable hands.
Learn more about how we serve you as an investor! Check out our five-point guarantees or reach out to us to get started.