In 2020 and 2021, the housing market saw some unusual activity, prices, and demand. So much so that many homebuyers taking advantage of record-low rates were simply priced out of the bidding war. In some cases, individuals and families chose to rent instead of buy due to a lack of affordable inventory. However, with 2022 […]
Monthly Archives: November 2021
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Nov
Nov
Rental property owners have many compliance items to attend to before renting their home. One of which is the rental license. In most areas across the country, landlords must obtain a rental license before advertising the property to tenants. That said, the process of getting this license may vary but generally includes an application, inspection, […]
23
Nov
Nov
Landlords should be no stranger to the laws and guidelines of the federal Fair Housing Act. These laws ensure that tenants in protected classes do not face discrimination throughout the housing industry. However, Fair Housing Laws are not the only regulations that owners must be aware of. While creating standard qualification and screening processes, rental […]
18
Nov
Nov
Although communities throughout Maryland have faced a shortage of affordable housing for some time, the COVID pandemic only exacerbated the situation. In response, Montgomery County Council members Evan Glass and Sidney Katz introduced the Housing Justice Act. Thus, creating more opportunities to combat housing discrimination and open doorways for individuals and families alike. For landlords, […]
15
Nov
Nov
Laws at the federal, state, and local levels govern landlords and all aspects of the rental industry. That said, the goal of these regulations is to ensure tenants have a safe and habitable rental home. For landlords, navigating inspections and rental compliance requirements is a vital yet daunting process. Additionally, each jurisdiction may have different […]
12
Nov
Nov
The rental application and subsequent tenant screening questions are a landlord’s first defense against troublesome tenants. That said, many landlords do not know what they can or what they should ask to secure the best occupant. After all, landlords must be mindful not to violate any Fair Housing Laws with their screening criteria. So, join […]
10
Nov
Nov
Owning rental property can be a lucrative investment, but only if managed effectively. As the rental industry grows, more investors are looking to this sector for passive income opportunities. However, with reward comes a certain amount of risk. While valuable tips for new landlords are everywhere, a crucial part of success is understanding what not […]
08
Nov
Nov
Nowadays, modern renters expect amenities that offer convenience, efficiency, added security, and enhanced comfort. As the industry becomes increasingly competitive, “smart” technology is at the top of many tenants’ list of desires. Therefore, by strategically installing smart devices in a rental, landlords can turn that property into a smart home. Thus, increasing its value and […]
05
Nov
Nov
At Bay Property Management Group, we are property management professionals focused on customer service. Furthermore, our goal is to make property ownership both a pleasurable and profitable experience for our clients. We know that our success is due to our fantastic team members and how they each contribute something special to our property management company. […]
04
Nov
Nov
The first deep freeze of the year is right around the corner. Cold weather brings several hazards, including frozen pipes which can lead to devastating repairs. Not to mention, this is a massive inconvenience for both tenants and landlords. That means as an owner, ensuring tenants have properly winterized the property should be a top […]
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