1 / 10

RM Properties Management -Montgomery County, MD

Traditional Buy-and-Hold. The traditional buy-and-hold approach, although potentially quite profitable, is often paved with landmines, which is why many investment property owners procure the services of a property management company. http://goo.gl/33IUMz

roneidaselva
Télécharger la présentation

RM Properties Management -Montgomery County, MD

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Property Management -Montgomery County, MD RM Properties

  2. Property Management: Explained • With the somewhat sluggish economy over the past few years, and the accompanying drop in real estate values, many individuals, who otherwise would not have, saw an opportunity to purchase residential real estate and turn it into rental property. Many did not, however, have the benefits of property management explained to them clearly. • As a result, they went in to real estate investment with the idea that property management is little more than collecting rent checks from tenants. Easy money. But, when the reality sets in that it is much more than that, the stress sets in as well. Often, it can all be downhill from there. • However, it doesn't have to be. You do not have to hire a property manager for your rental. In fact, managing your own property is attainable and profitable if you remember to apply a few fundamentals your property manager is using. Another note, despite the fact Montgomery County, MD and Washington, DC are hot markets, right now, these tips are fundamentals—they must be followed in every market.

  3. Property, MD

  4. Carefully Screen Prospective Tenants • The temptation to rent to the first or second prospective tenant that comes along can be a strong one. But, you really should avoid doing that. Even if, heaven forbid, the unit stands vacant for a few months, it's far better than renting to John and Mary Deadbeat and winding up with all kinds of problems down the road. • Actually, a unit being empty for a short while can be a good thing because it gives you the chance to properly take care any items that need repair, paint, or cleaning. The more pristine a unit is when a new tenant moves in, the better for both of you, and the better prepared you will be for the pre-occupancy inspection. Your property manager lives and breathes by the credit report of prospective tenants; you should, too.

  5. Rental Property

  6. Conduct a Careful Inspection • One common hassle that individual landlords experience is having to deal with damage to a rental unit, and who is responsible for the costs associated with repairs…or, wanting to make the repairs.First and foremost, the “nagging” tenant who annoys you with the minor details—loose doorknob, chipped window frame, or squeaky window—is the ideal tenant! This means they lovetheir home—your home. These are the tenants who leave the home better than you gave it to them. Don’t dismiss their “nagging”, instead, embrace it. • Further, haggling with a former tenant over security deposit money is one of the most common headaches landlords have to face, but it doesn't need to be that way. Conduct a joint pre-occupancy inspection and take plenty of photographs to document any existing issues. You should also document these issues in writing, and include what has been agreed on with regard to these issues. This will go a long way toward avoiding problems down the road. Recoup repairs in the next rent, not from the Security Deposit—you want to save those funds from after move out.

  7. Of course, many investors want to be in the business of buy-and-hold real estate, but not in the business of being a landlord. Some just have too many units to effectively manage on their own any longer. Some want to retire to another state, but still wish to own them, and thus need someone locally watching over their investments.  • Whatever the reason, if you've come to a point where you'd like to "pass the baton", we offer competitively-priced professional property management services in the Washington, DC area and in Montgomery County, MD. Contact us today for more information. Property management is simple, but hard, as many self-managed property owners can tell you. • A vacant rental can show 50 times. A boiler can break on Thanksgiving day. You’ll find the time involved in residential property management is significant and untimely most of the time.If you’re looking to live your life, and not just your tenant’s, an experienced property manager is your answer.

  8. Call RM Properties Montgomery County, MD - (443) 535-1246

More Related