Arlington Virginia Property Management
Understanding Arlington Virginia Property Management
Are you curious about professional Arlington Virginia Property Management? Wondering what a shifting real estate market will mean for Northern Virginia homeowners?
Arlington County has a history of strong resales for both single family homes and condos and shows no signs of slowing down. Sellers are feeling the heat and looking increasingly to professional, Arlington property management firms to help them get the most out of their investment while they await the return to a more predictable selling economy. However, with the boom of Amazon HQ2 and National Landing as the region’s newest technology sector, Arlington will continue to remain a premium location to own real estate.
Do you own a residence or investment property in Arlington? Here’s what you should know about the local rental market.
What Arlington Real Estate Statistics Show
Let’s begin with some local NVAR statistics to help put things into context:
Arlington County home price appreciation: Arlington County approximately 17.2%
Median Sale Price: $635K, +%12.49
Active inventory: low, decline of 37.5%.
In light of these statistics, a significant number of Arlington homeowners who would otherwise be putting their homes on the market are instead opting to rent. For some who are underwater on their mortgages, selling in this current climate is not a viable option at all. For homeowners anticipating a relocation to a different part of the country or an assignment abroad, becoming a landlord means getting help.
That’s when those who’d be selling in a stronger market start seeking Arlington property management firms for assistance in placing tenants and caring for their homes once they’ve moved.
WJD Understands the Arlington Rental Market
WJD has been managing properties for Arlington property owners and investors for more than three decades. We understand the current regional rental market.
1. The Washington area–Arlington especially–tends to maintain a robust rental market no matter which direction home sales are trending in. Why is the D.C. area so “bulletproof” when it comes to rentals? It’s a unique market–and some of the reasons for the strength of rentals in Northern Virginia is due to the temporary assignments of many workers in our area–as well as the political, government, and military roles that rule much of Washington-area life.
2. Although a decrease in interest rates is predicted to increase the number of buyers in 2020 who will be able to get mortgages that will (theoretically) give them more buying power, the fact remains: Many homeowners are still choosing to hold off on selling, at least during the COVID 19 Panademic, while they take the temperature of the market. Moreover, even though interest rates have come down, the economic recession is likely to wipe out the savings of many in our area. And even those who can get approved for a mortgage with affordable monthly payments still may not have anywhere near enough saved for the down payment on a home.
The result of all of this uncertainty? There’s more competition among renters for single family homes in our area than there is among buyers. While it may not be a seller’s market at present, it’s certainly a landlord’s market.
What Owners Say About WJD Management
“We have been using WJD to manage our rental condo in Fairlington Villages for the past 27 years, and our unit has always been rented, for 27 years! WJD is responsive to the needs of the tenants and resolves problems efficiently. The staff at WJD is caring and gets the job done. Thank you!” – Kim W.
We’ve Specialized in Northern Virginia Property Management for Over Three Decades
WJD has been serving landlords in Northern Virginia for more than 35+ years. We offer a comprehensive range of property management services, and our fees are very competitive. Our office is located close by in the City of Fairfax, and we are the leading Arlington property management specialists in Northern Virginia. Contact us today, and we’ll give you a free rental market analysis right away.
Why Own Rental Property in Arlington Virginia?
Arlington County is a county in the Commonwealth of Virginia, often referred to simply as Arlington or Arlington, Virginia. The county is situated in Northern Virginia on the southwestern bank of the Potomac River directly across from the District of Columbia, of which it was once a part. The county is coterminous with the U.S. Census Bureau’s census-designated place of Arlington. Arlington is considered to be the second-largest “principal city” of the Washington metropolitan area.
In 2019, the county’s population was estimated at 236,842, making Arlington the sixth-largest county in Virginia by population; if it were incorporated as a city, Arlington would be the fourth most-populous city in the state. With a land area of 26 square miles (67 km2), Arlington is the geographically smallest self-governing county in the U.S., and by reason of state law regarding population density, it has no incorporated towns within its borders. It is the 5th highest-income county in the U.S. by median family income,and is the 11th most densely populated county in the United States. According to Niche.com, it is the best city to live in America as of 2020.
Arlington is home to the Pentagon, Reagan National Airport, and Arlington National Cemetery. In academia, the county contains Marymount University, George Mason University’s Antonin Scalia Law School, the administrative offices buildings and graduate programs for the Schar School of Policy and Government and the Jimmy and Rosalynn Carter School for Peace and Conflict Resolution, as well as satellite campuses of the University of Virginia and Virginia Tech. It will soon house Amazon HQ2, the co-headquarters of Amazon. – Wikipedia