Have you ever wondered if 3D virtual tours are an effective strategy for your property management business? 3D virtual tours have certainly gained popularity in rental property management, including single-family properties. In 2020 Redfin reported that views of 3D virtual tours were up by 303%. When looking for a home, about 31.5 percent of respondents […]
Author Archives: Bay Property Management Group
03
Mar
Mar
One of the most common questions for landlords is, “how much should I charge for rent?” While this is a good question, there are several considerations property owners must first address to arrive at a rental fee. For instance, what are the neighbors like, and what does the property offer? Luckily, multiple tools, resources, and […]
31
Jan
Jan
Maintenance and property upkeep can be a nightmare for many owners in and around Richmond. For instance, unexpected appliance breakdowns, forgotten routine maintenance, and unusually harsh weather can all lead to maintenance problems that eat into profit. Fortunately, there are proactive ways to reduce costs over time, including scheduling routine upkeep, investing in quality supplies […]
27
Dec
Dec
No one likes to think about the chance of a pest infestation in their home. Pests in rental properties can present even more significant challenges. Unsure of your responsibility as a landlord? A local property management company can guide you through the signs of infestation plus how to handle one if it arises. It’s important […]
11
Nov
Nov
Maryland is one of the dozens of states that have what is commonly known as a “repair and deduct” law on the books. Designed to protect tenants against negligent landlords, this law includes strict guidelines that dictate what types of repairs a property owner is responsible for. It also includes the steps tenants can take […]
04
Nov
Nov
When it comes to keeping your Howard County rental property safe from unwanted outsiders, there are plenty of precautionary actions you can take, including: installing a high-tech alarm system, strategically placing lights around the property to deter criminal activity, and ensuring all windows close properly and lock securely. When it comes to keeping your rental […]
25
Oct
Oct
When a tenant is deciding whether to lease your home or not, chances are they are looking at more than just the interior of the home. They want to have a reasonable rent payment, a good looking exterior with nice landscaping, and be within close proximity to amenities. But what about right next door? Or down […]
06
Oct
Oct
Rental agreements are legally binding contractual “agreements” between two parties, the landlord and tenant. That said, landlords should be aware that while many laws are protecting the rights of property owners, tenants also have rights. These tenant rights protect renters against overbearing or illegal landlord actions. Therefore, understanding the reasons tenants sue landlords and how […]
05
Jul
Jul
Renting out your home offers one of the best opportunities to build a steady cash flow. That is, as long as you find the right tenants for each property. After all, low turnover and vacancy rates are essential to becoming a successful landlord. Once the perfect tenants are in place, renewing their leases year to […]
19
Apr
Apr
Choosing the perfect tenant for your rental property is just one of the many decisions landlords must make before the move in. Most property owners are familiar with charging new tenants the first month’s rent and a security deposit. However, the question remains – should you collect last month’s rent as well? This is something […]