Attracting higher-paying tenants for properties with higher monthly rent can be challenging, but it’s worth the investment. Such tenants require higher-quality properties, better advertising, and a strategic selling process. Additionally, landlords may need to adjust their rental property business to appeal to them. To learn more about attracting higher-paying tenants and keeping them in your […]
Author Archives: Bay Property Management Group
21
Apr
Apr
At Bay Property Management Group, we often get questions from our clients asking for advice about pet policy. For example, should you allow pets in your rental property? There are both pros and cons of allowing pets on your income property, and we are here today to help you make a more informed decision. So, read […]
12
Apr
Apr
Whether saving for college, retirement, or just some rainy day spending money, many individuals are looking for ways to build an investment portfolio. Investing provides several opportunities to make money and potentially build long-term wealth. However, if you’re looking to invest in rental properties, there are several factors to consider if you want your business […]
30
Mar
Mar
Handing over your income property to a property management company can seem like a risky decision. After all, it may result in significant profits but can also drive you to bankruptcy. At Bay Management Group, we understand how difficult it can be to find a reliable property management company, so we developed this guide to […]
20
Mar
Mar
Finding a qualified tenant to occupy your Anne Arundel County home becomes significantly more manageable when you allow roommates to enter a lease agreement together. In addition, widening the pool to those who wish to share your home makes your home more affordable because of the dual (or even triple) income. However, allowing roommates to […]
09
Mar
Mar
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 […]
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 […]