One of the first things successful landlords tell anyone considering renting out a property is to always select good tenants. After all, it doesn’t take much for a bad tenant to turn your profitable investment into a money-losing nightmare. However, many federal, state, and local laws limit the ability to refuse to rent to an […]
Category Archives: Property Management in Maryland
09
Sep
Sep
Requiring your tenants to have renters insurance coverage is one of the best ways to protect yourself, your rental property, and your tenants. Unfortunately, many tenants feel that renter’s insurance is not necessary. Only around 55% of renter-occupied homes have renters insurance, compared to 88% of homeowners who have a homeowners insurance policy. Today, we’re […]
17
Aug
Aug
First-time landlords are a unique group of people. Some are homeowners looking to upsize or downsize and want to lease their homes. Others are investors seeking ways to fund their retirement or quit their corporate jobs. Some may be accidental landlords who must turn their primary home into a rental property for one reason or […]
16
Aug
Aug
Everyone knows that to start buying investment properties, you typically need a sizable down payment. Yet, this can sometimes prove difficult. What if you are just starting out and don’t have your first rental property yet? Don’t worry. Today, we will look at some of the budget-friendly ways to save up for your first rental property. How […]
30
Jul
Jul
You don’t have to search for long to find horror stories about overbearing, unfair landlords and how they mistreat their tenants. Unfortunately, it’s a common problem. However, some landlords act that way because they constantly deal with difficult tenants, tenants who never pay rent on time, and tenants who damage their property. However, regardless of […]
30
Jul
Jul
Landlords need to prioritize risk management, which simply means predicting future risks to your financial well-being and working to minimize or completely eliminate them. Fact: Landlord risk management applies not only to Howard County landlords but to landlords all over Maryland and the rest of the United States. If you don’t run your rental property […]
26
Jun
Jun
Updated 6/26/24 by Bay Property Management Group When property maintenance is necessary, many landlords are tempted to do all the home repairs themselves. However, sometimes this can defeat the intended purpose of economic efficiency. Surprisingly, it can be more expensive to do the home repairs yourself than simply hiring a professional to complete the work. […]
19
Jun
Jun
Being a landlord seems easy from the outside looking in. All you have to do is buy properties and find tenants to live in them, right? Unfortunately, no. Much more goes into it, including time, money, management skills, and more. Landlords have several expenses to consider aside from the price of buying investment properties. Today, […]
07
Jun
Jun
Updated 6/7/24 by Bay Property Management Group As a landlord, you undoubtedly already know that rent increases can be a risky game. After all, it can be necessary, but it also can bring with it high tenant turnover. Whether you need to raise the rent because of property value changes, taxes, improvements you’ve made to the […]
15
May
May
Having one universal lease agreement satisfying every type of lease term possible would be great. However, in reality, every lease is different. So, while using a universal lease form is possible, it is important to note that whether you self-manage your rental property, or enlist the help of a property management company, there are going […]