There are many benefits to employing a qualified property management firm to manage a rental portfolio. In particular, property managers serve as the middlemen between owners and tenants. After all, a landlord’s goal is to rent the property in hopes of turning a profit but keeping tenants happy is a big part of that equation. […]
Author Archives: Bay Property Management Group
08
Mar
Mar
No landlord wants to ever deal with a lengthy and costly tenant eviction process. However, giving tenants “second chances” to put off the inevitable rarely works out. Besides, one second chance is usually enough to tell landlords whether the problem tenant has straightened out or not. Keep in mind that putting off eviction any further […]
02
Mar
Mar
As a landlord, the goal is to rent your property quickly to tenants who will pay in full and on time. Therefore, one way to increase the applicant pool is to become a Section 8 landlord. By working with the Pennsylvania Housing Authority, owners can get approved for a housing program for low-income families and still […]
One of the most exciting times for landlords is when you have secured a tenant, and they are ready to move in! Now begins the process of completing the lease, collecting the security deposit, and obtaining the first month’s rent. However, if you are not lucky enough to have tenants move in on the first […]
24
Feb
Feb
Competition in the rental industry has many owners looking to improve their odds of attracting a quality renter. However, a full-scale renovation is costly, and not all improvements truly add value. In a market where profit margins are tight, to begin with, extensive renovations could be financially damaging in more ways than one. Thankfully, some […]
22
Feb
Feb
As low mortgage rates continue across the United States, many investors wonder if now is the time to invest in a real estate venture. Rental properties are a great source of passive income while contributing to long-term wealth. Also, thanks to technology and professional property management companies, owners do not need to reside just down […]
05
Feb
Feb
As a lease comes to an end and tenants vacate, it is time to go through finding new tenants all over again. Part of a landlord’s job is to complete a move out inspection to determine tenant damage. However, what happens when you inspect the residence and find that the property’s tenant left personal items? […]
30
Dec
Dec
As a landlord, making sure your rental properties are in habitable condition is a must. Therefore, any time maintenance issues arise, repairs need to occur as soon as possible. Ensure that tenants know the procedure for submitting maintenance requests and know the warning signs to look for to avoid extensive damage. Then, once a tenant […]
22
Dec
Dec
Choosing a bank that has the right services for your rental property business needs involves careful consideration. After all, you do not want to entrust your money to a bank led by someone such as William R. Beamon. Beamon swindled more than $20,000 in rent payments and security deposits from unknowing tenants. To top it all […]
17
Dec
Dec
Investing in residential real estate as a way to use passive income to build wealth. Successful investors know that owning a rental property diversifies your portfolio and creates steady income. That said, jumping into buying your first property can be a daunting task. It is important to know your financial capabilities, future goals, and […]