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As one of Virginia’s largest cities, Newport News has much to offer as an option for buying investment property. With its close proximity to the James River and the Hampton Road Harbor, the area has a certain quality that simply pulls you in. Together with the quality education and healthcare offered, investing in Newport News can be a lucrative option that promises good returns in the long term. In this article, the experienced and local team from Redsail Property Management offers several neighborhoods that might just be the perfect option f…

There are numerous benefits to investing in rental properties. By making an investment property purchase, you can increase your long-term wealth and generate a monthly passive income. If you're just getting started, it helps to seek an expert’s opinion on how to maximize your investment. Your financial situation will see a drastic change once you rent out a property, but you need to put in the necessary time for study and analysis. In this article, Redsail Property Management covers the basics of acquiring an investment property in Newport News…

As a landlord, it’s imperative that you keep yourself up to date with the rules and regulations that apply when a tenant breaks their lease. A lease agreement is a contractually binding legal agreement when a tenant occupies a rental property. When a tenant signs the lease agreement, they agree to pay rent for the entire lease term whether or not they live there. Sometimes circumstances occur that may force a tenant to terminate it early. Their reason for breaking the lease early may either be legally justified or not. Regardless of the reaso…

The Virginia landlord-tenant law allows landlords to evict a tenant for violating the terms of the agreement. Common grounds for tenant eviction include nonpayment of rent and excessive property damage. As a Virginia residential landlord, you must follow the proper Virginia eviction process for the exercise to be successful. It would be illegal for you to evict a tenant due to retaliatory or discriminatory reasons. Self-help eviction actions, such as removing your tenant’s personal belongings from the rental unit, are also illegal and can land…

As a landlord, having tenants pay a security deposit can help provide you some cushion against potential financial damages. These can occur in any of the following ways: If a tenant moves out of their rented premises without paying the unpaid rent If a tenant moves out of their rented premises without clearing their unpaid utility bills In the case a tenant abandons a dwelling unit If a tenant (or their guest) causes negligent property damage In such cases, you’d be able to minimize your losses by making appropriate deductions from a tenant’…