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Fill In This Form To Get Your No-Obligation All Cash Offer Started!
The Real Numbers Behind Richmond’s Rental Market
Thinking about turning your house into a rental? Let’s look at the numbers.
As of late 2025, the median rent in Richmond, VA is around $1,398 per month according to Apartments.com.
Evictions are also back on the rise. According to the RVA Eviction Lab, landlords in the Richmond area filed over 20,932 eviction cases in the past 12 months, with a 24% eviction filing rate.
With nearly 88,000 renter households and monthly rents averaging $1,494, the risk of lost rent and tenant turnover remains high for local landlords.
Then there are maintenance costs. Property owners often spend an average of 1% to 4% of a home’s value each year on upkeep. On a $300,000 home, that’s $3,000 to $12,000 annually just to keep things running.
And even if you do collect consistent rent, you'll still be responsible for taxes, insurance, and possible vacancies. For many homeowners, the numbers just don’t add up.
That’s where Harvey Buys Houses offers a smart alternative: skip the landlord headaches and walk away with a fair all-cash offer, fast.
Read more: Is Your House Holding You Back? How to Sell Fast in Richmond, VA and Start Fresh.
Managing a Rental Isn’t Passive Income
The phrase "passive income" is misleading. From maintenance calls at 2 AM to chasing down late rent, managing a rental in Richmond is anything but passive, especially if you're relocating or working full-time.
Even with a property manager, you’re still responsible for major decisions, expenses, and vacancies. And if you’re trying to manage it from another city or state, you’ll face long-distance stress and limited control.
Plus, the cost of vacancies adds up quickly. One missed month of rent means a full loss in income while utilities, taxes, and insurance still need to be paid.
If you have a mortgage on the property, the gap between rent and your monthly costs may be tighter than expected. And that's without unexpected maintenance popping up.
Selling to Harvey Buys Houses offers something different. No ongoing costs. No late-night calls. No tenant stress. Just a clean break with cash in your hands.
Real Testimonials From Our Satisfied Home Sellers
We're proud to have worked with homeowners throughout Virginia who wanted a fast, easy home sale. Here's what they had to say:
"Easy to work with."
They were easy to work with and completed the sale in a timely fashion. They worked with me for my specific circumstances. I would recommend their services to anyone.
Sherice Young
"Smooth, professional, a pleasure."
Harvey Buys Houses was a pleasure to work with. The process was smooth, professional, and a pleasure from start to finish. Would definitely work together again!
Courtney Fisher
"Had a smooth transaction during a trying time."
Harvey was a pleasure to work with he helped me in a very trying time where I needed money and to sell my house FAST. This was a smooth transaction and he was able to close me out in just 10 quick days . Highly recommend!
Dom C.
Repairs, Turnovers, and Rising Costs
Every time a tenant moves out, you’ll need to repaint, clean, repair damage, and possibly replace appliances or flooring. Even great tenants cause wear and tear, and in Richmond, older homes often require more upkeep.
You might also be facing upgrades to meet modern rental standards or city codes. HVAC repairs, roof replacements, or plumbing overhauls can cost thousands. And these costs typically hit when you're least prepared.
A full bathroom remodel alone can cost an average of $15,586 in the U.S., making turnover between tenants more costly than expected.
When you sell your house to Harvey Buys Houses, you skip the cost of turnover entirely. We buy houses in Richmond, Virginia as-is, so you don’t spend a dime on repairs or updates. That means no trips to the hardware store or calls to contractors.
Learn more: Too Many Repairs? Here’s How Homeowners in Richmond, VA Sell As-Is and Move On.
Market Shifts Can Hurt Long-Term Rentals
Rental income may look good on paper now, but real estate markets change. A new development nearby can shift demand. A dip in the economy can lead to more vacancies or tenants struggling to pay rent.
You also have to consider future regulations. Some cities are passing laws that limit rent increases or add new requirements for landlords. These shifts can hurt your cash flow and make managing a rental even more complicated.
If the value of your home drops or repairs become too costly, holding onto the property becomes a burden instead of a benefit.
With Harvey Buys Houses, you don’t have to gamble on the future. We offer a straightforward way to sell your Richmond house fast so you can cash out now and move forward with confidence.
You Don’t Need to Hold On Just Because You Can
Some homeowners hesitate to sell because they feel like they “should” keep the property. Maybe it’s been in the family for years. Maybe the market was hot when they bought it.
But holding on to a house that no longer fits your goals isn’t a win, it’s a weight. Letting go can mean more freedom, fewer responsibilities, and peace of mind. Our team works with Richmond homeowners who are ready to simplify.
Whether you’re relocating, simplifying your life, or shifting investment strategies, we’ll give you a fair cash offer and close on your terms.
How to Make a Clean Exit (Without Repairs or Agents)
If you’re done thinking about renters, repairs, or rising costs, we’ll make your next step easy.
Here’s how our home-buying process works:
- Share a few basic details about your house in Richmond. No prep needed.
- Get a fair, all-cash offer in 24 hours.
- Pick your closing date, whether that’s next week or next month.
There are no agents, commissions, or delays. Just a clear path to move forward.
Read this to learn more: Need to Relocate Quickly? How to Sell Your House in Richmond, Virginia Without Delay.
The Risk of “Holding On” Too Long
Many Richmond homeowners think holding onto their property for “just a little longer” might pay off later. But that delay can cost more than you expect, especially if the house needs repairs or sits vacant.
Every month you hold the property, you're still covering taxes, insurance, and upkeep. If the rental market slows down or local vacancy rates rise, you may be stuck with a house that’s not producing income and continues draining your budget.
If you're not sure how long you can or want to hold on, it might be time to explore your options.
The Harvey Buys Houses team offers a better way. Instead of waiting and hoping, you can sell your house as-is in Richmond, Virginia, get a fair cash offer, and move forward on your own terms.
Get Your Free Cash Offer Now!
Fill out this form to get your no-obligation all cash offer started!
Get Your Free Offer TODAY!
Fill In This Form To Get Your No-Obligation All Cash Offer Started!
Ready to Skip the Rental Guesswork?
Renting out your home in Richmond, Virginia sounds simple, until the first repair, vacancy, or bad tenant. If you’d rather have peace of mind, a clear exit, and money in your pocket, Harvey Buys Houses is ready to make you a fair cash offer.
We buy houses in Richmond, VA, and we’ve worked with over 100 local homeowners, enabling them to move on from houses they no longer wanted to manage.
Let us take the stress off your plate. Contact us by filling out the short form today.