Take the edge off rental property ownership: Work with a property manager
Owning rental property in Baltimore, whether it’s residential or commercial, can sometimes be a double-edged sword. With ownership comes the satisfaction that you own “hard” (real) assets, that you can touch, feel, see and take joy in. But rental property management in Baltimore also comes with its own set of challenges and hassles. In rare cases, it is a nine-to-five kind of commitment. In many instances, however, it is a 24×7 obligation. If you don’t have the time or inclination to deal directly with those obligations, then working with professional Baltimore property managers is the way to take the edge off rental property ownership.
Understanding rental property ownership
So, what does it mean to be a landlord, and to rent out your property to a tenant, be that an individual, a family or a small business owner? Well, as a landlord, especially in a well-regulated property market like Baltimore, you have many legal responsibilities to your tenant. There are laws governing Written Leases, Warranty of Fitness for Human Habitation, Retaliatory Actions, Termination of Tenancy by Landlord, Death of a Tenant, Smoke Detectors, Housing Code Violations…and a host of others that landlords must abide by.
As a landlord, other codes and statues you’ll also deal with issues such as:
- Breaking leases
- Security deposits
- Rent escrow
- Lead-based paint hazards
- Failure to make repairs
And, as if that’s not enough to overawe the faint-hearted “casual” property manager, as a rental unit owner you’ll also worry about your own interests. Is your property looked after properly? How do you ensure continued safety – both in and around the property? What’s the best way to enhance the value of the property? How do you maintain and manage curb appeal?
Some properties and tenants are such “high maintenance” propositions, that even some professional Baltimore property managers may sometimes think twice about managing such situations. Imagine how someone else, without property management training or years of expertise might fare?
Adding value to your property
Having said the above, it’s not that you can’t manage your own rental property. Many “self-managed” rental properties do quite well. However, property management isn’t for everyone. If you can’t commit to a 24×7 role of property manager, then you’ll likely erode the value of your property over time.
And, when there’s a particularly stressful situation to deal with – like an overflowing toilet or a backed-up drain – we’ll ensure you have all the help and support you require. We even deal with matters involving terminating a lease or tenant evictions – something that, if not handled with tact and finesse, often ends up in expensive legal battles.
So, if you are looking for professional rental property management assistance, you don’t have too far too search. Here, at MH Properties, we bring a personal-touch to rental property management in Baltimore. From helping you get higher-quality tenants to assisting you with drawing-up fair and equitable leases. And from managing the repair and maintenance of your property – both in-doors and externally, to ensuring regular rent collection – we’ll take care of it all.