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How toProperty Management Services

What does a property manager do for a rental owner?

A property manager markets the rental, screens applicants, signs the lease, collects rent and deposits into an escrow account, arranges repairs and reports to the owner, all under a written management agreement. In Virginia, doing this for pay for others generally requires a real estate licence, and the owner still holds the legal duty to keep the home fit.

Free to ask. Local shops send quotes, and you pay only when you book one.

By Kasra Taheri, Founder, LoclisPublished

Researched and drafted with AI, then checked claim by claim against the sources listed below before it was published. Prices and rules change; the dates beside each source say when it was last checked.

Step by step

Read when to stop and call a pro, further down this page, before you start.

  1. Step 1: List what you want handled

    Write down the tasks: marketing, showings, screening, lease signing, rent, repairs, inspections and move-outs.

  2. Step 2: Confirm the licence

    Ask for the manager's Virginia real estate licence and firm licence before any money or keys change hands.[7]

  3. Step 3: Ask for the written agreement

    Get the property management agreement and read what the manager may sign and spend without asking you.[5]

  4. Step 4: Ask where the money sits

    Ask which escrow account holds rent and deposits and when you are paid.[3]

  5. Step 5: Set a repair limit

    Agree a dollar amount above which the manager must call you before approving a repair.

  6. Step 6: Agree on reporting

    Decide what the monthly statement shows, and how fast the manager reports a tenant complaint or an emergency.

The short version

A property manager runs a rental for its owner: finds and screens tenants, writes and signs the lease, collects rent and deposits, arranges repairs and reports back. In Virginia, the person who does this for pay is generally acting as a real estate broker, which Virginia defines to include someone who, for compensation, leases or offers to lease, or rents or offers for rent, any real estate or the improvements thereon for others,[1] so the work sits under a licence and a written agreement, and the money has rules of its own.

The brick backs of a row of townhouses behind wooden fences, with a bare tree in front and a brick apartment building beyond
Photo: Ser Amantio di Nicolao, CC BY-SA 3.0, via Wikimedia Commons

The job, piece by piece

Marketing and showings. The manager prices the unit, advertises it, answers questions from prospects and shows the property. In Virginia, showing property is one of the activities the Real Estate Board reserves for licensed individuals and firms.[2]

Screening and leasing. The manager takes applications, checks references and income, then prepares and signs the rental agreement for the owner. Under the Real Estate Board's regulations, only a licensed individual or firm may discuss, explain or negotiate a lease or property management agreement with anyone outside the firm.[2]

Rent and deposits. The manager collects the rent, holds the security deposit and pays the owner the net. The regulations are specific about where that money sits: any application deposit, security deposit, rent, or other money paid to the licensee acting on behalf of a landlord client in connection with the lease must be deposited in an escrow account.[3] Escrow funds must remain in an escrow account until disbursed in accordance with the terms of the lease, the property management agreement, or the applicable statutory provisions.[3]

Repairs and upkeep. This is where the manager and the trades meet. A tenant reports a dripping faucet or a dead furnace, the manager decides whether it is urgent, sends a plumber or an HVAC technician, and approves the invoice within the limit the owner set. The owner still carries the legal duty. Virginia's landlord-tenant law says the landlord shall make all repairs and do whatever is necessary to put and keep the premises in a fit and habitable condition.[4] In a multifamily building, the landlord shall also keep all common areas shared by two or more dwelling units of a multifamily premises in a clean and structurally safe condition.[4] A good manager is the person who makes sure those things happen on time.

Records and reporting. Monthly statements, year-end totals for your tax preparer, copies of leases, inspection photos and receipts. Ask what the statement looks like before you sign.

Move-outs and turnovers. The manager schedules the move-out inspection, accounts for the deposit and gets the unit cleaned and repaired for the next tenant.

Who the manager answers to

The manager acts for you, but the paperwork names the roles. Virginia's landlord-tenant law defines a managing agent as the person authorized by the landlord to act as the property manager on behalf of the landlord pursuant to the written property management agreement.[5] That agreement is the document that decides what the manager may do without asking you: sign leases, spend up to a set amount on repairs, hire vendors, hold the deposit.

One detail worth knowing: the law says "landlord" also includes a managing agent of the premises who fails to disclose the name of such owner, lessor, or sublessor.[5] A manager who hides who the owner is can end up carrying the landlord's responsibilities.

What the manager's staff may do

Large firms split the work between licensed agents and office or on-site staff. A licensed broker's employee on the premises may show units, give factual information about the rental, take applications, sign broker-approved rental agreements and accept deposits and rent, but may not negotiate the amounts or any rental agreements for the owner or broker.[6] Negotiating or agreeing to any management fee is reserved for licensees.[2]

Use it to hire well

The steps on this page are a checklist for handing a rental to a manager. Work through them before you sign anything, and read how much property managers charge in Virginia and whether a property manager needs a licence in Virginia alongside this page.

Stop and call a pro if

  • The manager is not licensed. Do not hand over keys or deposits until you have confirmed a Virginia real estate licence for the person and the firm; see the licence answer linked above.
  • Rent or deposits are not going into an escrow account. The rule quoted above applies to licensees acting for a landlord client; ask the Real Estate Board before you keep paying.[3]
  • A tenant dispute heads toward court. Evictions, deposit claims and notices have strict steps. Talk to a Virginia attorney rather than improvising.
  • A repair is unsafe, such as no heat in winter, sewage, a gas smell or exposed wiring. Treat it as an emergency for a licensed tradesperson, not a ticket to sort out later.

Getting help in Virginia

For the rest of the picture, browse more commercial answers and the commercial services directory. When the manager hands a repair to a trade, or you are managing the rental yourself and need someone, describe the job once and local pros quote it.

Common questions

Does hiring a property manager make the manager responsible for repairs?
The manager arranges them, but the legal duty stays with the landlord. Virginia's landlord-tenant law says the landlord shall make all repairs and do whatever is necessary to put and keep the premises in a fit and habitable condition. A management agreement decides who calls the plumber and how much the manager may spend without asking you.
Where does my tenant's rent go when a manager collects it?
Into an escrow account. The Real Estate Board's regulations say any application deposit, security deposit, rent, or other money paid to a licensee acting on behalf of a landlord client in connection with the lease must be deposited in an escrow account, and it stays there until disbursed under the lease, the management agreement or the law.
Can the manager's office staff sign leases for me?
Only within limits. A licensed broker's employee working on the premises may sign broker-approved rental agreements, but may not negotiate the amounts or any rental agreements on behalf of the owner or broker.
What is a property management agreement?
The written contract between you and the manager. Virginia's landlord-tenant law defines the managing agent as the person authorized by the landlord to act as property manager under that written agreement, so it is the document that sets what the manager may do for you.

Sources

  1. [1] Code of Virginia § 54.1-2100. Definitions (real estate brokers), Virginia General Assembly, Legislative Information System. Checked October 27, 2026.
  2. [2] 18VAC135-20-335. Activities to be performed by licensees; activities permitted to be performed by non-licensees, Virginia Real Estate Board, Virginia Administrative Code. Checked October 27, 2026.
  3. [3] 18VAC135-20-181. Maintenance and management of escrow accounts, Virginia Real Estate Board, Virginia Administrative Code. Checked October 27, 2026.
  4. [4] Code of Virginia § 55.1-1220. Landlord to maintain fit premises, Virginia General Assembly, Legislative Information System. Checked October 27, 2026.
  5. [5] Code of Virginia § 55.1-1200. Definitions (Virginia Residential Landlord and Tenant Act), Virginia General Assembly, Legislative Information System. Checked October 27, 2026.
  6. [6] Code of Virginia § 54.1-2103. Exemptions from chapter, Virginia General Assembly, Legislative Information System. Checked October 27, 2026.
  7. [7] Code of Virginia § 54.1-2106.1. Licenses required, Virginia General Assembly, Legislative Information System. Checked October 27, 2026.

Want a pro to handle it?

Describe the job once. Licensed local businesses send quotes, and you pay only when you book one.