Rental Management Functions in the Baltimore/Maryland Area
Posted by Phineas Gray , on Jan, 2015
You have worked very hard in life to get yourself into a position where you could purchase some investment properties and in turn start to make some income from them. Due to your hard work at all times, you are way too busy to even think about managing your investment properties yourself. So where do you turn? Rental Management companies in the Baltimore/Maryland Area may be the answer for you. Here is a list of things that rental management companies can do for you.
It does not do much good to own a rental property if you don’t have a tenant in it that produces rental income each month. Rental management companies are experts at advertising your property in the right places so it stays occupied and the rental income continues to flow on time. They know all the relevant publications in which to list your rental property and often have their own website that is easy to use.
Tenant Screening and Applications
The only thing worse for a property owner than having an unrented property is to have a rented property where the tenants do not pay. Not only do you not have a rental revenue stream but also your rental property is taking wear and tear that you are not being compensated for. Rental management companies have a lot of experience when it comes to selecting good tenants. They are highly skilled and experienced at selecting the most reliable tenants from their list of applicants to give you the best chance of a steady rental income.
Rental management companies do a good job of making sure rent is paid on time and if it is not then they can ferret out the reason why. In extenuating circumstances they know what tenants they can work with in order to come to a payment resolution and they also know which tenants simply need to go.
Rental management companies are experts at Landlord/Tenant Law and dispute resolution. Tenants tend to accept their services because they see these companies as an interested neutral party instead of the one-sided property owner.
Rental management companies save the property owner money by implementing and carrying out scheduled routine maintenance programs on their properties. These types of programs help to eliminate the cost of much more expensive unexpected repairs.
These companies are often available 24/7 to handle tenant emergencies that cannot wait until normal working hours. This gives both tenants and owners peace of mind that the tenants will stay happy and continue to rent or lease their properties.
So you can clearly see, rental management companies provide a lot of useful services that help keep the owner’s properties rented and also help take care of the business side of the owner/tenant relationship.