You might think to yourself why you would need to hire a
professional property manager in order to handle your property.
There are a lot of things in our lives where we often need the
expertise of others, such as doctors, lawyers, accountants.
Key Advantages of Having a Property Manager:
- Total Management serves as Intermediary between Landlord and Tenant.
- Total Management alleviates hassles and worries associated with being a property owner.
- Tax Write-Offs Remain In Tact.
- Management of Tenant Selection/Screening process.
- Management of repairs.
- Dealing with troublesome tenants.
- Management of distant rental properties
Property Management is the means by which you turn
investment real estate into money. Property
management is not just leasing a property to a renter and
walking away. It is not just collecting a rent check every
month.
Management is the daily maintenance of the tenant-landlord
relationship. This includes communication, property maintenance,
periodic inspections, repairs and even improvements. Managing
rental property requires diligent care.
What we do is time-consuming, exhausting and potentially
litigious. We have developed management techniques and systems
that help our clients and ourselves to avoid needless
liabilities and hassles.
Total Management handles a multitude of tasks
and people: phone calls, leasing and sales appointments, tenant
requests for information, late night emergency calls, rent
collection, evictions, work orders, maintenance, contractors,
city, county and other government entities, licensing,
inspections, fire marshals, advertising, trash collection,
housing authority, lawyers, peddlers, agents, cable guys, phone
companies, gas and other utilities, insurance claims, the EPA,
etc. etc. etc. We do this so you don't have to and can continue
to do what you do to earn a living.
Don't try this at home, we're professionals.
Being a landlord who has lots of time, lives near the rental
property, has excellent tenants, has a property that never has
anything wrong with it, and in a rental good market/area should
take no effort at all. However, it is not always the case that
those situations are all true. Being a landlord sometimes means
that you need to become an expert in the following areas:
- Comparable market pricing
- Federal, state, and local housing laws
- Federal, state, and local landlord/tenant law
- Lease contract negotiations
- Credit and background verification
- Rent collection
- Late rent collection procedures
- Security deposit regulations
- Providing prompt everyday repairs and upkeep
- Quick & cost-efficient repairs of major items
The laws concerning Landlord/Tenant rules and regulations
take up over 110 pages in the Annotated Code of Maryland. The
typical punishment prescribed by the Maryland Courts for
landlords who do not follow these rules require that the
landlord make a payment to the tenant of up to three times the
amount of the tenant's security deposit.
You might come to see that one of your wisest investments in
your property is the modest monthly fee charged by professional
property managers. This amount easily pays for itself many times
over in the course of a typical lease.
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