How Often You Should Renovate Your Rental Property?

renovation renturhomeRenovating your rental property is essential for having quality tenants and increase the rental property income. Renovating is generally done when the tenants move out or move in. And it is expensive also. When the tenants move out you need to hire new tenants for your rental property and for that you have to paint your home, make repairs, etc. So, basically hiring new tenant is more expensive than maintaining the existing ones.

Before you decide your property to paint or renovate then there certain important things to consider to know whether there is a need to renovate your property or not:

  • How the property appears?

  • What does simple can do?

  • Check all the rooms.

This way you can see that whether you need to repair something or everything is just fine. Renovating can cost you a lot hence people prefer it do from year to year. And in case it is not very much necessary then you should also do it in every three years.

How often you should renovate or paint your rental property is completely a personal matter. Yes, you can decide whenever you want to paint or renovate your home but there are some other reasons also when you need to renovate your home like:

When tenants move in or out

when you are hiring new tenants the you surely want to look the home a brand new one. The tenants would like to stay longer if they find your property more attractive and beautiful. Even when your previous tenants move out from your house then you have to see that is there any thing that needs to be repaired. Clean your house and renovate it completely to attract new tenants.

Increase the property income

If you want to increase the property income then you must renovate your property with this you can attract high-quality tenants who will agree to pay a good rental charges for a beautiful and attractive house. For making your home attractive you have to paint the walls with vibrant colours, clean the house and make repair.

Protect your property

Apart from attractive potential tenants to pay a good rental amount you must be wanted to keep your rental property’s wall insulated and protected so for that you need to paint the walls. And renovate your property regularly.

So, it seems that renovating your rental property is very important and also you need to do it many times. But this can be really expensive and hectic task for you whether you are doing it by your own or hire professional property management company. However, it is said that the ideal time to do paint or renovate your house is three years. Well, you can renovate it on the basis of your requirements or needs.

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What is a Protected Tenant? A Thing Every Landlord Should Know

http://www.renturhome.comRenting a property is actually one amongst the toughest tasks for the owner. The property owner has to keep in consideration the legal as well as financial management, in order to attain higher rate of benefit of the property. Everything in the property need to be done under the jurisdiction. Tenants have many rights and this is a reason why the property owner needs to look out for the same when he is renting out his property to someone. One very common term that is heard random when it comes to property management is protected tenants. What is a protected tenant actually.

Government has given so much of rights to the tenants, which is good from their prospect as well. But sometimes, the liberty of one can become problem for others. Hence, it is required that a person should look out for the same while taking any sort of action. Protected tenants have more rights than other tenants and these all rights come into action when the land owner tries to evict them from the property. There are many means and classifications that surrounds a tenant in the category of protected tenant.

The first and the foremost important classification is age. The tenants on or above the age of 60 years come under the protected tenants. This means the land over cannot evict them out of the property without any solid reason. Other than this, if the tenant who are above the age of sixty years are living in the property for more than ten years then also one cannot evict him from the property. The another classification is the tenant with disability.

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A person who is suffering from any sort of disability and have been living in the property for more than ten years then also he comes under the category of protected tenant. And the last clause is with the tenants with chronic illness. If a tenant is suffering from chronic illness and has been living in the property for more than five years then at that case also he will come under the category of protected tenant. These are just general synopsis of protected tenant. To be at the safest side it is required to take the assistance of professionals in the task. You can consult property management company in Baltimore for their much better assistance in the task that could help you to have the property at the safest side always and all the time.

Related Article – How to Work with a Reliable Property Management Company

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Most Common Reasons Landlords Use Property Management Services

Avinash Kumar is a passionate business analyst and writer. He loves writing on various topics especially on business related topics. Currently he is rendering his services to professional Real Estate, Maryland Rental and Property Management Company, that provides services of professional property management, rental management, tenants’ management, landlords, property maintenance and the best working area of property management in Anne Arundel and Baltimore County and other cities and counties of USA.

http://www.renturhome.comWe all know that property management companies do exist. But do you know that what exactly they do and offers to us. Well there are top most common reasons that a landlord use property management services and you should also hire them for managing your property well and hire right renters for your rental property. Here is the list of the services provided by a property management company:

Determine accurate rental rate

They know the value of the property and determine the accurate rental rates for your property. They do market research for the similar property you are having in local areas where your property is located and fix the right rental charges for your rental property.

Maintenance and Repairs

They manage your property in the right manner that also increase the value of the property. They clean both the interior as well the exterior of your rental property. Make repairs if needed. While tenants moving in or out they check the property properly and make repairs if required. They have their own crew members who fix repairs and if not then they hire handyman for this in low costs.

Marketing property

Property management companies advertise your property through online or offline medium. They know where exactly to advertise your property for hiring quality tenants. They use local newspaper, pamphlets, etc. for marketing rental property.

Screening and hiring tenants

They collect the information about the tenants and screen the tenants well. They do background check and also check credit history, criminal record last eviction reason and also talk to the previous landlord if necessary. And hire the higher-quality tenants for your rental property.

Tenants move in

when tenants move in to the property they collect a security deposit from the tenants which is refundable. Make rental agreement which includes all the necessary things like security deposit amount, monthly rental charges, tenants name, rules and regulations to be followed by the tenants, etc.

Inspection

They inspect the property on a regular basis including exterior of the property. And also make the reports of the damages that have occurred in property due to tenants and send it to you in the end of the year.

Rent Collector

They collect the rent positively on the due date from the tenants without any failure. They also credit it your account after deducting their shares.

Tenants move out

When the tenants move out they inspect the house properly and refund the security deposit to the tenants. Clean the property and repeat the process of advertising and hiring tenants for your rental property immediately.

18So, these are the services provided by professional property management company therefore people prefer hiring rental property management companies for an easy landlordship. If you live in Baltimore, Maryland or anywhere in USA and then you can hire Baltimore rental management company to manage your property.

Related Article – How to Find Right Tenants for Your Rental Property

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