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 Security Deposit and What are its Benefits?

http://www.renturhome.com/When you will find the higher quality tenants for your property then there are few important things that you have to do before handover the keys to them and that is making a rental agreement and taking security deposits from the tenants. Security deposit is the sum of money that the tenant agrees to pay to the landlord before moving into his property. It is generally equal to the one or two month’s rental charge. There are many reasons to take security deposit from the tenants and some of the benefits are listed below:

Tenants more careful

When you take security deposits from the tenant then they become more careful about your property and keep it maintained. They will now not break the rules as mentioned in the rental agreement.

Safeguard against damages

You can deduct the repair or maintenance charges from the security deposit if the tenant will make severe damages to the property. So, they will be more careful about this to not to make any damages otherwise they have to pay the damage cost and the landlord has the full right to keep the security deposit.

Safeguard against non-payment of rent

Sometimes tenants fail to pay the rent or just refuse it to pay in that case you can evict the tenant and keep the security deposit.

http://www.renturhome.com/These are the benefits of the security deposits but there are some laws that you must know as a landlord to keep the security deposit. You have to include the amount of security deposit in the rental agreement. And in some state it is also a rule that the landlord should give a receipt to the tenants when taking security deposit from them. You must know these things before taking security deposit from tenants.

There is no one rule for collecting security deposit in United States in fact it changes from state to state. You need to know your state law for collecting and keeping the security deposit. And also the reasons you can deduct amount from security deposit. In that case you should hire professional property management company that are well aware of the landlord tenants law. They will manage your property in legal way. You just need to find the right and reliable relocation company. If you reside in Baltimore or anywhere in USA so, for your rental or residential property you can hire maryland property management company  who are professional and will manage your property in awesome way.

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

2 BED / 1.5 BATH DUPLEX WITH DRIVEWAY LOCATED OFF QUARTERFIELD ROAD NEAR I-97

  • $1,600
  • 2 bd
  • 1 full ba
  • 1 half ba
  • Rental

This properties is in a great location that’s convenient to major shopping centers and quick access to major highway routes (I-97, I-695 & Rte 100). The property offers the quiet suburban atmosphere with the benefit of being in a good school district. The home has 2 upper levels, finished basement, concrete driveway, 6ft. fenced rear yard, large deck and a storage shed. The interior has hardwood flooring, carpet and ceramic tile flooring. Kitchen to include Weyburn cabinets with light counter-tops and 24″ x 24″ ceramic tile flooring. Appliances are white to include Side by Side Refrigerator, Dishwasher, Glass-top Electric Stove and Over the Range Microwave (black). Sliding glass door that takes you out to the deck for get togethers with family. On the second level it has the bedrooms and a full bathroom with carpets throughout rooms and hallway. Closets are spacious with organizer and mirrored slider doors. The full bath room has white fiberglass tub and surround (easy for cleaning), 5 ft white vanity with 3 drawers and dark countertop, chrome fixtures. Basement has a family room with a half bath. Central A/C and Heat. Ceiling fans throughout. Washer and Dryer. Move-in ready!! Call today to view this property 410-354-1111 (ext 2)

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Roles and Responsibilities of a Property Management Company

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, MD property management 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.

5We all know that property management companies exist but not everyone is aware of their roles and responsibilities that what they actually do. They manage your rental property and along with that they are responsible for the following things:

For Rent

They are responsible for setting rent, collecting the rent and also increase it from time to time:

  • Setting rent: They inspect the house interior as well as exterior and after knowing the value of your rental property they set the right rental rate for the property.

  • Collecting rent: They fix a date on which the tenants have to pay the rent on any circumstances. They collect the rent on the due date from the tenants and also credit to your account.

  • Adjusting rent: Rent can be increased on every 12th months but property managers are responsible for adjusting rent they can increase the rent just after an eviction.

For Tenants

Property management companies are also responsible for hiring good tenants for your rental property.

  • Finding tenants: They advertise your property using both offline and online and find the right tenant for your rental property.

  • Screening tenants: They have link and sources to screen the tenants. They use application forms that applicants filled with their personal details. And property manager use it for checking their background, credit history, criminal records, previous evictions records, etc.

  • Handling tenants’ complaints: They also handle tenants’ complaints and also solve their problems if the tenants’ complains for any repair or maintenance issues.

  • Dealing with eviction: If the tenants fail to pay the rent on time or breaking and rules then they understand the law and file eviction against tenants.

For Maintenance and Repairs

They manage your property and keep it maintained. They also inspect the house to know if there is any requirement of repair issues and fix it immediately. Property management companies have their own crew who maintains and make repairs. So, they are also responsible for repairing and maintaining your rental property.

18These are the roles and responsibilities of a property management company. A good property manager has thorough knowledge of landlord and tenants law. So, if you want to manage your Baltimore rental property or residential property then you must hire Baltimore property management company. They are professional and will keep your property maintained in awesome way.

Related Article – Question a Landlord Should Ask Tenants before Hiring

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How to Find the Best Property Management Company in Maryland

property management (9)We all know the benefits of hiring property management company but it is also important to hire the right one. Hiring a wrong company can put you in trouble so you must be very attentive and careful when find a good and reliable property management company. Finding the best and reliable property management company in Maryland may be a tough job but with some wise steps you can easily hire right property manager for your investment property. Here are the useful steps to find the best property management company that will be the best for your property:

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Get Referrals from Different Sources

One of the best ways to find renowned property management company in Maryland is through word of mouth. There are many real estate agents and other property owners whom you can ask about good and reliable property managers in your area.

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Do an Online Research

Internet nowadays helps us in every sector whether for finding a person or a company. So, you can search for best property management company in your area that can manage your investment property in affordable charges. Make a list of all the companies you find relevant for your requirements.

Interview Several Property Management Company

Interviewing several property management companies will let you know about their different charges and services they provide. And for finding the best company you must interview at least three companies. This will help you to distinguish between good and bad. You surely don’t want to hire the one property manager who has evicted more than 5 tenants in a couple of months. He either has the worst luck in the world or, more likely, does not know how to properly screen tenants.

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Check Out Their Current Works

Currently how many units there are managing will let you know how proficient they are. You must see the properties to check the properties are clean and well. You can get some great information by talking the tenants they currently manage. If they are happy and satisfied too that means you will also be satisfied with their work as a landlord. After all property management is about keeping you and your tenants happy.

Check Their License and Certification

You must check the company’s license and certificate whether the company is qualified or not to handle your property and the staffs should also be educated to manage your property.

This way you can find the best maryland property management company for your Maryland rental property. Always remember to read carefully the terms and condition written in their agreement before signing it.

Related Article – How to Deal with Bad Tenants

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Time and Cost Required for Signing a Lease with Tenant

http://www.renturhome.comThere is certainly no doubt in this that our property provides us a great comfort in life. Owning a property in big areas of USA such as Baltimore is such a great thing, but what is more special in this is hiring competent rental management in Baltimore, Maryland for your task. However it doesn’t means that you cannot cope up with the requirement of the process by your own, but professional management always keeps you at a risk free zone. If you are all set to handle the task of managing your property then here are certain things that you need to follow for the same. It is one of the greatest tasks for a property owner to make his property rent ready, and apart from this completing all the essentials things for property is something that comes in the priority list. A property owner has so many expectations with his property and this can only be fulfilled if there is a good management.

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For making your property rent ready, you need to browse as what is trending in market. Search for all the possibilities of things that a renter will look at your property. Make all the necessary arrangements that will make your property at the top list. Once you are done with this then there come the fixation of rent. Do make sure that rent of your property is as what is trending in market. It is required for a property owner to fix the rent adequately. Once the rent is fixed then the final decisive round is there and it is the legal documentation. As a land owner you are always supposed to be sure that every necessary arrangement is made by your side to secure you and your property lawfully. Complete all the legal phases before handling over the property to the tenant.

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The entire lease with tenant should be cross verified. Remember tenant can ask you for the charges that you have implemented on the lease, hence make sure you possess adequate knowledge about the same. Your new renters will look to you for explanation of the lease and key terms and dates will need to be clear and concise. This lease signing time will also allow you the opportunity to set “house rules” with regard to items not specifically spelled out in the lease such as city noise ordinance times, changing of filters and light bulbs, maintenance responsibilities or any special neighborhood or Association rules. So, these are the cost effective manner, through which you can proceed for a safe management of your property.

Related Article – Things to Consider When Interviewing Property Management Company

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Things You Must Know Before Hiring Renters for Your Rental Property

http://www.renturhome.com/If you are becoming a landlord for the first time then there are many things that you must know before hiring renters for your rental property. It is not all about finding and hiring tenants but there are much more into it. hire rental and property management company in Maryland. There are rules and laws are made for both the landlord and the tenant that they have to follow till the lease expires. Below are the mentioned points that you must know before hiring renters for your rental property:

Landlord Rights

The landlord has many rights while he hires occupants for his property and you must know about those rights before get into this business. A landlord has the right to evict the tenant who do not pays rent on time or fails to pay rent depending on state law. If the tenant has made severe damages to the property then also the landlord either can charge the cost of maintenance from the tenant or can evict the tenant by deducting the expenses from the security deposit. A landlord has the full right to mention any rules for the tenants and he has to follow it.

Tenants’ Rights

They also have rights while occupying space on your rental property. And the rights they have create certain obligations for you. It is the duty of the landlord to make repairs and keep the house maintained. Being as a landlord you first have to listen to their problems and fix their issues. You must be always available for them for solving their issues. They also have the right to get refund of full security deposit if they haven’t made any big or severe damage to the property.

Security Deposit

If you are a first-time landlord then you must know about security deposit that what it is all about. Security deposit is the equal amount of the one month rent that the landlord charge from the tenants before moving in to the property. This is taken for the security if the tenants make severe damage to the property so the landlord has the full right to deduct the expenses from it otherwise it is fully refundable.

Rental Charge

You must know how much exactly to charge rent for your property. You just cannot charge as much as you want. In fact, the rent is decided on the basis of many things such as the amenities that you will be providing to your tenants, the area where the property is located, charge of the other similar units, how many rooms you have in your apartment, is it fully or partially furnished, etc. On the basis of these things you have to decide the rental amount.

These are the things that you should know before hiring renters for your rental home and for this you can also hire maryland property management company as you are the first-time landlord, hence they will help you the best to manage your property. They even hire the right renters for your property and decide the rental amount and increase the value of your rental property.

Related Article – Things the Tenants Must Know Before Renting an Apartment

 

3 bedroom end-unit home located on a very quiet street in Baltimore City

  • $1,300
  • 3 bd
  • 1 ba
  • Rental

The property once entered will grab your attention. Upon entering the decorative walls with its trim work, gorgeous hardwood flooring and decorative chandelier lights in the living room and dining room. Central A/C and Heat! The kitchen is elevated 1 step and has hardwood flooring. Appliances are white to include refrigerator, and electric stove. Cable ready for a flat screen t.v. on first level. The second floor has 3 bedrooms, all with NEW CARPETING and master bedroom is large. Bathroom has ceramic flooring and tub surround. White toilet, tub and vanity. Chrome fixtures. Towel closet in the bathroom. as well. FINISHED BASEMENT with a nice size storage area, washer and dryer and carpet throughout. Rear yard fenced. The front and back yards not to large, for easy maintenance. The great thing about this property is the school located across the street with a nice play ground area and large field. ***View the walk-thru video on You Tube today***

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