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Raffi Bandazian
President/Principal Broker
604 North Sheppard Street
Richmond, VA 23221
Phone: 804.358.5543
Fax: 804.358.5590
Email: raffi@bandazian.com

Property Management

We are the premier property management firm in Richmond, VA.  Engaged in the business of property management for 36 years, since our company's inception, we have constantly adapted to the changing environment of clients' needs and owners' obligations.  We ensure that all of our agents working on property management are licensed agents, and are also active in the business and residential aspects of our Firm.

We would be happy to send you an informational packet on our Property Management services.  Please email our offices with your inquiry, or feel free to call us.  Any one of our agents in the office is well versed in our policies and procedures and you can expect the highest service from any of our staff.

Our Services
We welcome the opportunity to be competitive with other Firms.  We are confident that our system, operating procedures, and our staff are the best suited for any client’s need.  We have been in operation for 36 years for a reason—we focus on long-term partnerships with our clients.

We are small enough that we can adapt our processes to constantly work at maximum efficiency yet we are large enough to handle any size client or deal that comes through our door.

Management Fee Commission
When comparing our commission rate of rents collected to other Firms’ rates, you need to be sure that you are comparing “apples to apples”.  While other Firms may charge less than us you need to ask them a few important questions:

Do these other Firms charge anything for maintenance?  Is there some type of surcharge on all maintenance calls;
Do these other Firms charge anything for handling tenant delinquency;
Do they take the “Notice of Default” process all the way through to court and eviction, if necessary.

In most cases, you will see that other Firms impose a surcharge on all maintenance calls, charge something to handle tenant delinquency, and only write a “Notice of Default” letter and then leave the owner to handle the rest of the process--a daunting task, as who has time to go to court and chase a tenant for one month’s rent?

You will quickly see how the charge of a lower commission on rents collected will add up to much more.

Our Process
In our Firm, all maintenance issues are passed through to the owner at 100% of cost.  There is absolutely no mark up.  In fact, you will receive copies of all bills that pertain to your property along with your owner’s statement every month.

We have an attorney on retainer.  This is at no cost to our owners.  This attorney regularly handles collections.  We have an extremely high success rate with collecting from our delinquent tenants because of the meticulous processes that we have in place.

The only initial cost to an owner would be a $49 filing fee to the attorney to begin the process.  This fee will be reimbursed once we collect from the tenant.

Leasing Fee
The leasing fee is strictly an incentive.  It ensures that there is competition within our office for all of our agents to work quickly to fill every unit that we have.  The leasing fee that our owner's pay is split between the Listing Agent for the property and the Leasing Agent who brings in the tenant.

(We apply the same logic when we work with our Vendors.  We put a call out for estimates for maintenance jobs.  The most qualified and most reasonably priced Vendor usually gets the job)

We look forward to the opportunity to work with you.

ABR - Accredited Buyer RepresentativeEqual Housing OpportunityGRI - Graduate, REALTOR® InstituteMLS membershipNARPM - National Association of Residential Property ManagersREALTOR® certificationYahoo® Real Estate ClassifiedsCommercial Brokerage