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How to Conduct a Rental Market Analysis

11/1/2017

How to Conduct a Rental Market Analysis Did you recently purchase rental property in Maryland? You're an up-and-coming real estate investor with high hopes and ambitions. To ensure your investment meets your expectations, it's essential to fully understand the rental market situation in Maryland. This requires you to conduct a rental market analysisevery six to 12 months. If you're unsure why market analyses are necessary, or you want to know how to conduct one yourself, follow these tips to get you started.

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What Does Property Management Cost?

08/18/2017

The fees for property management can vary significantly depending on the services provided, the terms of the contract, and the number of rental units that are managed, but they typically consist of a small percentage of the monthly rental income plus a one-time fee every time a rental unit is filled, typically equivalent to a month's rental income for the unit.

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How to Choose an HOA Management Company

08/10/2017

Do you find it difficult to keep up with all the responsibilities of serving on your homeowner association (HOA) Board of Directors? There's no need to struggle with the nitty-gritty details when you can hire an HOA management company to help you. Still, it's important to understand that not all management service providers are created equal. Here are the qualities to look for when you hire an HOA management company.

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What Do Property Maintenance Companies Do?

08/03/2017

If you own one or more rental properties or are on the board of an HOA, keeping the building and grounds in pristine condition is a major responsibility. Maintenance and repair work can easily turn into a full-time job, depending on how many properties you manage. If you're looking for a cost-effective way to free up your time, consider hiring a property maintenance company.

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What Is the Best HOA Management Software?

07/27/2017

When you have a homeowner association to run, it's great to get a little extra help from HOA management software. Various platforms are available today, but which one is the best?

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How to Choose a Condo Association Management Company

07/20/2017

If you're on a condo owner association's (COA) Board of Directors, you may find it difficult to manage meetings, handle legal issues, and arrange property maintenance. With a condo association management company by your side, you can keep the decision-making power in your community while handing over the stressful aspects of serving as a board member.

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Benefits of Hiring a Property Manager

07/13/2017

Whether you own an apartment complex, townhouse, or another type of real estate, you know that managing a rental can be a great boon to your monthly income. You also probably know just how much time and effort managing property can require.

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Why Hire a Property Management Company for Homeowners Associations

07/06/2017

Residents of townhouses, condos, and homes in gated communities or subdivisions owe a monthly or yearly fee to their homeowner association (HOA). This fee covers the cost of routine building maintenance, landscape care in common areas, pool maintenance, and other tasks that keep the community's curb appeal and functionality high.

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How Do I Screen Tenants?

06/29/2017

For landlords and rental property managers, screening tenants is one of the most critical and difficult tasks to perform properly. Although the majority of prospective tenants are decent people who treat the rental property with respect, occasionally a bad tenant can slip through the screening process, leading to financial losses, property damage, or legal liabilities.

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Should I Manage My Own Property?

06/22/2017

Investing in rental properties can be a great way to provide an ongoing income that is steady and relatively passive. Many real estate owners elect to manage their own rental property, which can be time-consuming and difficult, especially if the rental is not local. Another option is to hire a property management company, which will add to your expenses, but will relieve you of much of the work that landlords typically must perform.

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Can I Make a Profit If I Hire a Property Management Company for My Investment Property?

06/15/2017

Whether you own one property or many, you may find yourself thinking about hiring a property management company out of necessity or simply convenience. If you find yourself considering a property management company for your investment property, it is quite possible to continue making a significant profit, while reducing your workload and taking a more passive approach to your investments.

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Why Should You Choose a Local Property Management Company?

06/08/2017

If you have a rental property and do not have the time to manage it yourself, or if you simply have no desire to manage them yourself and would prefer a more passive income, hiring a professional property manager is a great. The main reason that many property owners hire local property management companies is to have a competent and reliable team close to the rental property to handle day-to-day operations.

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How Do I Get My Home Ready to Be Rented?

06/01/2017

Are you eager to try your hand at being a landlord? Before you show your home to prospective new tenants, it's important to make sure the property is ready to rent. Your goal is to impress applicants as they tour the home and ensure no additional maintenance or repairs will be needed within the first few months of new renters moving in.

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DIY vs. Professional Property Management

05/25/2017

Have you just been given the opportunity to invest in real estate? This could be a fantastic opportunity to supplement your monthly income with rental payments from tenants. If you're thinking about managing the property yourself, compare the pros and cons of DIY property management and learn how hiring a professional company could be beneficial.

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How to Find a Good Tenant

05/18/2017

Every rental property owner wants to land the perfect tenants. It's tough because even someone who looks good on paper may not end up being the greatest tenant. That's why you should use a combination of observations made during your personal interactions and facts gathered from the rental application. This can help you avoid the troubles that can come from having a bad tenant and allow you to choose the best applicant from the bunch.

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Best Way to Find Tenants for Rental Properties

05/11/2017

If you just got your hands on a rental property, congratulations-you've just made a potentially profitable investment! As you begin down the road to becoming a landlord, you must know how to fill your vacant rental property quickly with a suitable tenant. The trick is not to let any bad apples slip through the screening process, or you could end up with significant financial losses, property damage, or legal liabilities.

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How to Evict a Tenant in Maryland

05/04/2017

Every landlord hopes for quality tenants, but unfortunately, bad apples sometimes slip through the screening process. If you've already given your tenant a second chance, it's time to take legal action and research the eviction process in Maryland. To avoid getting into legal trouble yourself, don't attempt to take the law into your own hands. Instead, follow this advice on how to evict a tenant in Maryland.

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Best Questions to Ask Before Hiring a Property Management Company

04/27/2017

So, you own a rental property, but you're tired of handling all the responsibilities of a landlord. You know the best way to free up your time is to hire a property management company. But how do you choose the right company for the job? The trick is to ask the right questions. This way, you avoid wasting your time and money hiring an unqualified manager. Here are the four best questions to ask before hiring a property management company.

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