7 Best Property Management Companies in Richmond

Do you own a rental property in Richmond? Are you looking for a property management company in Richmond to manage it? We’ve got you covered. In this article, we’ll walk you through 7 of the best property management companies in Richmond. We’ll cover pricing, specialties, guarantees, and more so that you have a place to start on your hunt for the perfect PM.If you’re at a complete loss on where to start, we suggest you read this article where we discuss what to look for in a property manager, depending on your individual situation and investment goals.>> Now without further ado, let’s get started.

Evernest

Evernest started at the beginning of the 2008 economic crisis by default. When the bottom fell out of the residential housing market, our founder, Matthew Whitaker, was left holding 30 rental houses that he wanted to sell but couldn’t. So he set out to find a property manager with similar beliefs and management preferences as his own. Later that year, Matthew started Evernest and opened our doors for business.Evernest (formerly gkhouses) has grown into a nationwide company, managing thousands of homes in dozens of real estate markets. Evernest offers in-house maintenance, no fees for cancellation, and a waived lease fee if a resident leaves within the first year. Residents also have access to a 24/7 hotline.

CEO/Founder: Matthew Whitaker
BBB Rating: A+
Google rating: 4.5/5 (5,584 reviews)
Years in business: 14
Number of people: 325+
Rentals managed: 11,000+
Number of markets: 24+
Specialties: Single-family residential, multifamily, HOA, property maintenance, rental property investing, investor and landlord education
Property management fee: 8%-10%
Leasing fee: 50% of one month's rent ($500 minimum)
Renewal leasing fee: $250
Other services: Brokerage, HOA, Multi-family, in-house maintenance, in-house underwriting, leasing
Learn more: https://www.evernest.co/location/richmond/

Bay Property Management

Ptenant: Patrick Freeze
BBB Rating: A+ (accredited)
Google rating: 5/5 (22 reviews)
Years in business: 10+
Number of people: 170+
Rentals managed: 5,500+
Number of markets: 25
Specialties: Single-family residential, multi-family
Property management fee: 8%
Leasing fee: First month’s rent
Renewal leasing fee: 25% of one month’s rent
Maintenance fee: N/A
Property setup fee: $99
Professional certifications: https://www.narpm.org/
Other services: Leasing, resident placement
Learn more: https://www.baymgmtgroup.com/

Fauver Group Real Estate

Fauver Group Real Estate is a boutique brokerage and property management company located in Richmond, Virginia. They provide buying and selling services and property management and leasing services.Their flat-fee leasing service includes marketing, property showings, resident screenings, and lease drafting. With their management services, they will handle rent collection and security deposits and oversee all maintenance requests.

Broker: Zachary Fauver
BBB Rating: N/A
Google rating: 5/5 (40 reviews)
Years in business: 5+
Number of people: 4+
Rentals managed: N/A
Number of markets: 1
Specialties: Townhomes, single-family residential
Property management fee: 10%
Leasing fee: $900
Renewal leasing fee: N/A
Maintenance fee: N/A
Property setup fee: N/A
Professional certifications: N/A
Other services: Leasing, brokerage
Learn more: https://www.fauvergroup.com/

Mission Realty Property Management

Founded in 2007, Mission Realty Property Management is a property management and leasing company servicing homes in Richmond and surrounding areas. The owner, Clayton Gits, is also the owner of Mission Realty Brokered by eXp. He opened Mission Realty PM for the ability to provide property management services alongside his existing brokerage. Mission Realty provides resident screening, marketing, move-in inspections, and lease signing services. With their property management, they include resident handlings, rent collection and accounting, 24-hour emergency services, maintenance oversight, monthly statements, and regular inspections every six months. They also offer optional eviction protection for an extra $25 a month. Included are the necessary documentation and an attorney. They will handle the whole process, including appearing in court.

Owner: Clayton Gits
BBB Rating: A+ (not accredited)
Google rating: 4.3/5 (12 reviews)
Years in business: 15+
Number of people: N/A
Rentals managed: N/A
Number of markets: 1
Specialties: Condominiums, townhomes, single-family residential
Property management fee: 10%
Leasing fee: 50% of the first month’s rent
Renewal leasing fee: N/A
Maintenance fee: N/A
Property setup fee: N/A
Professional certifications: https://www.expertise.com/va/richmond/property-management
Other services: Leasing, brokerage through Mission Realty
Learn more: https://www.rentingrichmond.com/

Keyrenter Property Management Richmond

CEO/Founder: Calvin Davis
BBB Rating: N/A
Google rating: 4.8/5 (256 reviews)
Years in business: 5+
Number of people: 5+
Rentals managed: 200+
Number of markets: 1
Specialties: Single-family residential
Property management fee: $120 or 10% of monthly rent (whichever is highest)
Leasing fee: $800 or 75% of the first month’s rent
Renewal leasing fee: $350 or 25% of one month’s rent
Maintenance fee: 10% of the invoice (on coordinated maintenance costing $300+)
Property setup fee: N/A
Professional certifications: https://www.expertise.com/va/richmond/property-management
Other services: Leasing, resident placement
Learn more: https://keyrenterrichmond.com

Real Property Management Richmond Metro

Principal Broker: Ralph Reahard
BBB Rating: N/A
Google rating: 4.6/5 (578 reviews)
Years in business: 7+
Number of people: 10+
Rentals managed: N/A
Number of markets: 1
Specialties: Single-family residential
Property management fee: 8.9% for the standard plan, 9.9% for the premium plan, 11.9% for the all-inclusive plan, or 12.9% for the wealth optimizer
Leasing fee: 50% of one month’s rent for all plans
Renewal leasing fee: $195 for all plans
Maintenance fee: N/A
Property setup fee: N/A
Professional certifications: https://www.expertise.com/va/richmond/property-management
Other services: Leasing, resident placement
Learn more: https://www.rpmrichmondmetro.com/

Renters Warehouse Richmond

CEO/Founder: Wes Donovan
BBB Rating: A- (accredited)
Google rating: 4.5/5 (579 reviews)
Years in business: 8+
Number of people: 5+
Rentals managed: N/A+
Number of markets: 1
Specialties: Single-family residential
Property management fee: $119 a month for one unit, $109 a month for 2-4 units, or $99 for 5+ units
Leasing fee: One month’s rent for a 0-17 month lease, one and a half month’s rent for an 18-35 month lease, or two month’s rent for a 36+ month lease
Renewal leasing fee: $350
Maintenance fee: N/A
Property setup fee: $99
Professional certifications: https://www.expertise.com/va/richmond/property-management
Other services: Leasing, resident placement, investor services
Learn more: https://www.renterswarehouse.com/offices/richmond

Manage Your Property with Evernest

When hunting for a property manager, there are a lot of factors to consider. However, it comes down to your individual situation and goals. The best property manager is the one that fits your preferred style as an owner, hits the right price point, and covers you where you need it most. If you’re curious whether that company is ours, we’d be happy to answer your questions. You can check out our Richmond property management information by clicking here.

Methodology for Selecting the Best Property Management Companies in Richmond

When putting together this list of top property management companies in Richmond, we aimed to create a comprehensive, location-specific resource tailored to Richmond’s unique rental market. The city’s dynamic blend of historic neighborhoods, urban developments, and suburban communities requires property management companies with a deep understanding of its diverse real estate landscape. Richmond’s growing appeal among renters and property owners alike underscores the need for companies that can effectively navigate the local market’s demands.

Key Evaluation Criteria and Considerations

To identify property management companies that provide exceptional value to property owners in Richmond, we employed a rigorous evaluation process focused on several key factors:

Reputation and Local Knowledge: Companies with a proven track record of reliability, supported by positive customer reviews and strong ratings on platforms like Google and the Better Business Bureau (BBB), were prioritized. Familiarity with Richmond’s neighborhoods and an understanding of the local market trends were essential for inclusion.
Neighborhood Expertise: Richmond’s rental landscape includes everything from historic properties in The Fan District to modern apartments downtown and single-family homes in suburban areas. Companies with a demonstrated ability to manage properties across these varied neighborhoods earned higher ratings for their versatility and adaptability.
Comprehensive Services: We focused on companies offering a wide range of services, including tenant placement, rent collection, property maintenance, and lease management. Bonus points were given to those providing additional services like eviction assistance, legal compliance guidance, and advanced reporting tools.
Pricing Transparency: Clear and competitive pricing was an important consideration. Companies that openly disclose their fees and maintain straightforward pricing structures, avoiding hidden charges, were favored for their commitment to transparency.
Certifications and Affiliations: Professional credentials, such as membership in the National Association of Residential Property Managers (NARPM®) or the National Association of Realtors (NAR), were factored in as indicators of adherence to high industry standards and ethical practices.
Customer Support: Property management requires excellent communication with both property owners and tenants. Companies with responsive customer support, 24/7 emergency services, and accessible resident portals were given priority for their ability to enhance the landlord-tenant experience.
Technology Integration: The use of technology, such as online rent collection, tenant screening, and maintenance tracking, was another critical factor. Companies embracing digital tools to streamline operations and improve efficiency stood out.
Richmond Market Insight: Companies that demonstrate a strong grasp of Richmond’s unique market conditions, such as seasonal rental trends, local zoning laws, and tenant preferences, were especially valued for their ability to deliver tailored services.

Final Selection Process

Our final list was developed after a detailed review process that included:

Comparing reviews from platforms like Google and BBB to gauge customer satisfaction and trustworthiness.
Analyzing the breadth and depth of services offered to ensure comprehensive property management solutions.
Reviewing pricing policies for clarity and affordability.
Assessing the adoption of technological tools to enhance operational efficiency.

Our goal was to feature companies that combine expertise, reliability, and innovative solutions with a deep understanding of Richmond’s real estate market. The resulting list reflects the top property management companies in Richmond, offering valuable insights to property owners seeking professional management services tailored to the city’s diverse rental landscape.