Renting out your home in Northern Virginia is a great way to make a passive income, especially now with rising rental rates and a growing number of people looking to move to suburban areas.
As remote work takes off and families grow more interested in spacious homes in areas with a lower cost of living than expensive homes in metropolitan areas, towns like Haymarket and Gainesville are becoming increasingly attractive to renters.
If you own a home in Haymarket or Gainesville, you stand to make a decent amount of money renting out your property.
Here are three reasons why you should consider renting it out this year:
Rental rates in Haymarket and Gainesville are rising
Ultimately, choosing to rent out your home is about your bottom line. You want to make sure that if you go through the steps of renting out your home, it will be worth your while financially.
Fortunately, if you have a home located in the Haymarket and Gainesville area, you don’t have to worry about making a profit. People are flocking to these areas, and renting prices are going up.
The average rent for a two-bedroom home in Gainesville is $2,219 per month, which reflects a 15% increase from 2020. The average rent for a two-bedroom home in Haymarket is $2,803 per month, which is a more than 50% increase since 2018.
Rental rates in Northern Virginia are only going to continue to increase as the need for affordable housing and increased space pushes renters to areas like Haymarket and Gainesville instead of Washington, D.C. As this trend continues to grow, those who rent out their homes in these areas will see increased profitability over the coming years.
Haymarket and Gainesville are desirable areas to live
Rising rental rates only matter if you’re able to find tenants to stay in your home. Many people who are hesitant to rent out their homes are afraid that they will put a lot of time, money, and effort into getting their homes ready to rent only to have difficulty finding tenants.
If you have a home in Haymarket or Gainesville, you do not have to fret about finding people to move into your property for two key reasons:
- If you find the right property management company in Northern Virginia, like RentSimple, they will do all of the heavy lifting when it comes to finding high-quality tenants to rent your home.
- Haymarket and Gainesville are desirable areas for families and couples, and there will always be people looking to rent homes in these areas.
There is no shortage of individuals who are looking to move to Gainesville and Haymarket because of these location’s desirable neighborhoods, great schools, and local attractions:
Desirable neighborhoods
Haymarket and Gainesville are home to some of the most desirable neighborhoods in Northern Virginia.
Suburban neighborhoods like Piedmont, Wentworth Green, and Dominion Valley are on many renters’ radars because they offer incredible amenities without an outrageous cost of living.
The Piedmont neighborhood in Haymarket is home to one of the top-rated 18-hole championship golf courses in Northern Virginia, the Piedmont Country Club, and its proximity to Washington D.C. makes it a major draw for people who work in IT or for the government. It is also one of the safest towns in the United States.
Wentworth Green is close to the Pentagon and the Washington, D.C. area, and it is home to high-ranking schools, making it a desirable choice for families. This new neighborhood boasts a resort-style pool, dog parks, tennis and basketball courts, a fitness club, and a walking trail that connects to Virginia Gateway. With plenty of activities available for people of all ages, this walkable city is at the top of the list for many renters.
Dominion Valley is a gated community that is known for its high-quality Toll Brothers crafted luxury homes, its country club golf course, and its claim to fame in February of 2018 as one of North Virginia’s best neighborhoods. This area has high property value, impressive schools, and all the amenities a family could hope for in a community.
Thousands of couples and families in the Washington, D.C. and Northern Virginia area seek out homes in Piedmont, Wentworth Green, and Dominion Valley. If you have a home in or neighboring one of these neighborhoods, you will never have to worry about finding people who want to rent your home.
Great schools
Haymarket and Gainesville are popular among families because they are home to high-quality schools.
Haymarket’s J.W. Alvey Elementary School is in the top 10% of all public elementary schools in Virginia, and Haymarket Elementary, Samuel L. Gravely Jr. Elementary School, and Mountain View Elementary are in the top 30%. Haymarket’s Ronald Wilson Reagan Middle School is in the top 12% of public middle schools in Virginia, and Battlefield High is in the top 10% of all public high schools in the area.
Parents who want to make sure their child receives a great education are attracted to Haymarket for their top schools in the Prince William County School District.
Likewise, Gainesville has a lot to offer when it comes to public schooling. Gainesville’s Buckland Mills Elementary and Glenkirk Elementary are both in the top 10% of public elementary schools in Virginia, and their middle schools, Gainesville Middle and Bull Run Middle are in the top 14% and top 43% respectively.
Public schools in Gainesville and Haymarket have higher average math and reading proficiency scores than other Virginia public schools, and they are widely regarded as some of the best in the entire state. For this reason, countless families with school-age children are interested in renting homes in these neighboring towns.
Local attractions
In addition to their stunning up-and-coming neighborhoods and communities, Gainesville and Haymarket are attractive to renters because they offer great, “big city” attractions and amenities without the hassle or living expenses of metropolitan areas.
Here are a few of the big draws that the Haymarket and Gainesville areas have to offer:
Virginia Gateway
A one-stop-shop for fantastic food and shopping experiences, Virginia Gateway has over 120 shops and restaurants spanning 1.3 million square feet. This shopping center has an interactive splash pad that is perfect for kids and a host of fun, family-friendly events throughout the year. Virginia Gateway is home to a Regal Cinemas movie theater and popular stores and restaurants like White House Black Market, Lululemon, Loft, Target, Starbucks, Five Guys, Chipotle, and Bar Louie.
From household and pet necessities to luxury clothes, Virginia Gateway offers everything shoppers need in one convenient location.
Leopold’s Preserve
This nature preserve is cherished by those who like to slow down and smell the roses. Leopold’s Preserve visitors can learn about the local fauna, study rock and water formations, and explore the winding trails as they take a break from the hustle and bustle of the surrounding metropolitan and suburban areas.
Golfing
Haymarket and Gainesville offer some of the best-golfing experiences available in the East. Golf enthusiasts love to frequent Stonewall Golf Club, Heritage Hunt Golf Club, Bull Run Golf Club, Dominion Valley Country Club, and Piedmont Country Club to spend the day golfing while taking in breathtaking views.
Tin Cannon Brewing Co.
Fans of high-quality brews love visiting the taproom at Tin Cannon Brewing Co. This brewery hosts weekly trivia nights, live music and concerts, weekly food trucks, and other fun events, and it has a dog-friendly patio.
Haymarket Iceplex
Haymarket Iceplex provides ice skating, hockey, and figure skating lessons. They also offer hockey leagues for adults and kids and public skating for anyone who is interested in using the ice rink.
Milla’s Playland
Gainesville families with young children can spend all day at Milla’s Playland, an indoor playground for kids ages six and under. This playland has fun events, offers arts and crafts days, and even allows children to host birthday parties.
Jiffy Lube Live
This amphitheater is owned and operated by Live Nation and hosts big names like Luke Bryan, Maroon 5, and Jason Aldean among other performers. Fans of live music performances and stand-up comedy love this scenic, outdoor venue.
Aroma Winetasting II
Whether they dream of becoming a sommelier or they just enjoy trying new wine, adults can have a full vineyard experience at Aroma Winetasting II. People come for the wine and stay for the charming atmosphere at this winery in Haymarket.
Conway Robinson State Forest
Nature lovers can explore 444 acres of beautiful forest right in the midst of their suburban neighborhood in Gainesville. Conway Robinson State Forest allows mountain biking, hiking, and horseback riding, and many people love to visit this area to observe birds and other wildlife.
Battlefield Park Polo Club
Expert and emerging equestrians alike love Battlefield Park Polo Club in Gainesville for its hands-on summer camps, polo and English horseback riding lessons, gorgeous horseback riding trails, and entertaining polo events. People of all ages and experience levels are welcome to have fun and learn about horses and riding at Battlefield Park Polo Club.
Muse Paintbar
Muse Paintbar offers live music, painting sessions, and a restaurant and bar that is perfect for date nights, bachelorette parties, and a night out with friends. This attraction is open to people of all ages, so families can bring their children for family-friendly birthday parties and events.
Silver Lake Regional Park
Silver Lake Regional Park features a 23-acre lake that is every fisherman’s dream. Visitors can fish along the bank or in non-motorized boats for a relaxing weekend or afternoon respite. This park also has four miles of trails available for horseback riding and hiking. Haymarket citizens who like to spend time in the great outdoors frequent Silver Lake Regional Park.
Considering the fact that many people, especially millennials, prioritize amenities a city has to offer when deciding where to move, Gainesville and Haymarket are perfect for many renters.
RentSimple makes it easy to rent out your Haymarket or Gainesville Rental property
RentSimple is one of the best property management companies in Northern Virginia, and we have the resources and expertise to help you rent out your property in Haymarket or Gainesville.
When you work with RentSimple, you can put all your worries and fears about renting out your property to rest.
Afraid you won’t be able to find tenants? RentSimple takes care of this for you, finding high-quality tenants who pass background and credit checks and pay rent on time. Concerned about what will happen if your tenants can’t or won’t pay rent? RentSimple offers a Rent Guarantee stating that we will pay 100% of any rent money owed if your tenants are ever unable to pay their rent.
When it comes to renting out your property, your happiness is our #1 priority. We make the renting process as simple as possible, and we provide guarantees to help you feel more comfortable throughout this process.
You shouldn’t have to miss out on a great source of income in today’s market because of the challenges of collecting rent and finding tenants. Leave those obstacles up to us!
At RentSimple, we focus on rentals, and we have the knowledge necessary to help you make the most of your properties. We know how to price your properties in Gainesville and Haymarket, and we will make sure that you are able to secure profits without any headache or frustration.
Renting out your property does not have to be a complicated process. Learn more about our guarantees and see how RentSimple can help you rent your Gainesville rental property or your Haymarket rental property.
