Richmond, VA Property Management

• Accidental landlords who’ve inherited or unexpectedly acquired rental properties
• First-time investors navigating the rental market for the first time
• Owners of small property portfolios looking to grow strategically
• Out-of-state landlords who need reliable, local management and oversight

No matter your level of experience, PMI helps streamline the management process and increase returns.

Frequently Asked Questions for Richmond Landlords

• How much notice do you need to enter my property for maintenance or an inspection?

  Virginia law requires 72 hours' notice before entering for routine maintenance or inspections, and 24 hours' notice before showing the unit to prospective tenants or buyers. Emergency entry to address an immediate safety issue does not require advance notice.

  Source: Virginia Residential Landlord and Tenant Act

• How long do you have to return a tenant's security deposit?

  Virginia law caps the security deposit at two months' rent and requires landlords to return it, along with an itemized statement of any deductions, within 45 days after the tenant moves out. Missing that deadline can mean losing the right to withhold any of it.

  Source: Va. Code Ann. § 55.1-1226

• What happens if a tenant doesn't pay rent on time?

  As of July 1, 2026, Virginia requires a 14-day written notice to pay or vacate before a landlord can file for eviction over unpaid rent, up from the previous 5-day notice. We handle this notice process for you so nothing falls through the cracks.

  Source: Va. Code Ann. § 55.1-1245

• What if a tenant violates the lease in another way, not just late rent?

  For a curable violation, tenants get a 30-day notice that includes 21 days to fix the issue. For a non-curable violation, tenants receive a 30-day notice to vacate outright. We manage this process to keep everything documented and compliant.

  Source: Va. Code Ann. § 55.1-1245

• What areas does PMI Richmond serve?

  Richmond, Glen Allen, Chesterfield, Henrico, Midlothian, the West End, and more than a dozen other neighborhoods across the metro. If you don't see your area listed, reach out, we're always looking to expand.

• What types of properties do you manage?

  Single-family rentals, including detached homes, townhomes, and condos, along with small multifamily properties such as duplexes, triplexes, fourplexes, and buildings with up to 10 units.

• How do you screen tenants?

  Every application goes through background, credit, and income verification before we place a tenant, so you can trust the person moving into your property.

• What happens if there's an emergency repair need?

  Our licensed and insured vendor network handles emergency repairs, so problems get resolved quickly without you needing to coordinate contractors yourself.

• What does PMI Richmond charge for property management?

  We charge a flat leasing fee of $575, a flat renewal fee of $195, and a management fee of 8-10% of one month’s rent. You can learn more about our pricing packages here.

• How does switching property management companies work?

  Switching is usually straightforward: you sign a management agreement with PMI Richmond, we coordinate with your current company to transfer tenant records, lease documents, and any security deposits on file, and we handle notifying tenants of the change. Most owners can expect a transition of a few weeks without any gap in rent collection or maintenance coverage.

• How and when do I get paid as an owner?

  Rent is collected and processed through our system, and when a tenant pays on time, we guarantee your payment lands in your account within ten business days.

• What if I'm not happy with PMI Richmond's service?

  If you're not completely satisfied, you can cancel your property management agreement without penalty, with 60 days' notice.