Living in the Northern VA area offers many job opportunities: with the proximity to the nation’s capital, more would-be diplomats have access to careers that advance the interests of our country abroad.
- According to the Department of Employment Services, Washington DC has the highest number of federal workers.
- Virginia alone employs 19.9 percent of its population in federal facilities.
- Thousands of people obtain government work overseas in foreign countries.
- Some of these jobs include foreign diplomats, overseas teachers, nurses, housing officers, engineers, IT specialists, social workers, administrative assistants, and so many more.
Working overseas is a fantastic way to expand your resume and take advantage of many amazing opportunities in service to our country. However, most overseas contract jobs last about five years; what does this mean for your home?
- If you sell your home, you’ll have no home base to return to when your post ends. With the housing market in DC and the surrounding area struggling to meet demand, it might be difficult to find a new home upon your return!
- If you intend to bring your family with you for the duration of your post, having a place to settle afterward can provide stability.
- You may feel conflicted about leaving your home empty while you’re abroad due to the risk of vandalism and other property damage.
- While you’re away, property taxes and mortgage payments continue to arrive—with or without you!
Thankfully, there’s an answer to the dilemma of what to do with your home when you’ve been given the opportunity to serve our nation abroad: an expert property management company can help you rent your home! When you take advantage of property management services in Arlington, you end up with the best solution for both worlds.
Since you currently have a home, why leave it sitting empty for the duration of your posting—especially when you don’t have to pay a leasing fee? Here are three excellent reasons why you should rent your home out while you’re abroad!
Bring in Extra Cash
If you own a home, then you can cash in on your investment—even while you’re not there to enjoy it. Rental properties in Arlington can easily bring in over $3,000 a month in rent due to their proximity to the DC metro. A quick scan of single-family homes in the area shows a rental estimate closer to $2,800 a month, and in some cases, over $5,000!
The best way to start taking advantage of the rental traffic while you’re away is to work with an expert property management company. Skilled property managers should be able to provide you with a free rental analysis right off the bat to help you understand what your property might be worth as a rental.
If you run the math on a single-family home transformed into a rental, the numbers look promising! Assuming that your operating costs are limited to 35% (typical for a single-family home), and you charge on the low end of the rates we’re currently seeing in Arlington (roughly $2,300), that would still net you $89,700 for a typical five-year posting.
When you pair the perks of reliable income with property management, You have the peace of mind of knowing that your home is being well cared for in your absence.
Rentals Are up in Arlington!
With a significant number of people renting in the Arlington area—and the demand is only increasing—it’s a smart move to rent your home instead of leaving it unattended for the duration of your posting.
Owning a home in this area can be pricey for many people, which explains why renting is becoming an attractive option. It’s also an incentive for keeping your home as an asset long-term: a sale would require you to reinvent your life when you return.
Keep Your Home Safe and Well-Maintained
When your home sits empty, there’s always a chance that something could happen to it.
- A vacant home is an invitation for burglars, pests, and problems.
- Without someone overseeing your home, the risk for issues increase.
- Pipes could freeze during cold Virginia winters if no one turns on the water and watches the thermostat.
- When you rent your house out to a tenant, you know that someone is paying to keep your heat on—and letting uninvited guests know that the home is occupied!
Why a Property Management Company Matters
Of course, while you’re overseas, you’ll need someone to manage your home; you can’t do that long-distance—and even if you wanted to, you’re going to be busy with your responsibilities abroad! This is why choosing first-class property management services in Arlington is a must-have when choosing to rent your home.
Coverage in an Emergency
You never know when something in your home may begin to malfunction. It could be the furnace, a leaky faucet, or a major appliance. Whatever the case may be, if you’re not there to tackle problems as they arise, then they can escalate and become more costly. One small issue can lead to a huge mess, and your property manager helps mitigate this risk.
Regular Home Maintenance
Even if your home and residents don’t have any emergencies, there are still many routine maintenance jobs that need to be dealt with throughout the year. Every season has its own set of maintenance tasks.
- During the frigid Arlington winters, you’ll need to winterize your home.
- In the spring, you’ll want to prep your HVAC for a humid summer.
- In the autumn, you’ll need to make sure your gutters are clear of debris that could cause ice dams down the road.
These are just a few of the various tasks that need to be done throughout the year.
When you hire a professional property management company in Northern Virginia, they field every maintenance task—so your home stays in top condition. From seasonal maintenance to everyday issues that occur, your house will be in peak condition when you return from promoting peace and stability abroad.
Comprehensive Tenant Management
One of the great things about bringing in a property management company is that they will manage everything relating to your prospective renters.
At RentSimple, we thoroughly screen every rental applicant—to ensure your great space has great people to live in it! We’re so confident in our ability to place great tenants that we offer the most impressive guarantees in the industry.
- Our Eviction Free Guarantee provides exceptional peace of mind while you’re abroad if we have to remove a tenant we placed—you’re covered 100%.
- Our Rent Guarantee ensures you receive the rent you deserve from your property—even if a tenant doesn’t pay!
- Need to leave in a hurry for that once-in-a-lifetime service opportunity? We’ve got you covered with our Quick Rent Guarantee! We can rent your home in 17 days or less—or we waive our placement fee.
Even if they can’t offer the same stellar guarantees, your property management pick should also:
- Deal with all incoming tenant calls, complaints, and problems
- Make it right if a tenant has a problem with the home
- Keep you aware of everything happening with your home—no matter the timezone you’re in—using cutting-edge technology.
Find Your Property Management Fit
If you’re interested in a position with the Foreign Service that embodies our nation’s values abroad, then you already know that when great spaces and great people combine, positive, lasting returns are the result. Your property is no different!
When you connect with RentSimple, we can provide the peace of mind you need when leaving your home behind as part of the Foreign Service. Enjoy the passive income that comes from working with an expert property management company in Arlington. Get in touch with us today for a free rental analysis to see how much your property might be worth!