Thorough tenant screening of all prospective tenants is critical to the success of your rental property business. If you place the wrong tenant in your property, you could face enormous financial loss, damage, and even the collapse of your rental property business altogether. Today, we’re reviewing six red flags to look for in the tenant […]
Category Archives: Owning a Rental Property in Maryland
11
Oct
Oct
One way to keep your Prince George County tenants happy is to be proactive about creating the lease agreement. Answering all the potential questions a tenant may have in the agreement itself and before the tenant asks will help you avoid possible trouble in the future. After all, you want to ensure your tenants have […]
04
Oct
Oct
One of the first things successful landlords tell anyone considering renting out a property is to always select good tenants. After all, it doesn’t take much for a bad tenant to turn your profitable investment into a money-losing nightmare. However, many federal, state, and local laws limit the ability to refuse to rent to an […]
17
Aug
Aug
First-time landlords are a unique group of people. Some are homeowners looking to upsize or downsize and want to lease their homes. Others are investors seeking ways to fund their retirement or quit their corporate jobs. Some may be accidental landlords who must turn their primary home into a rental property for one reason or […]
31
Jul
Jul
If you are a landlord, you understand that sometimes the hardest part of owning rentals is dealing with tenants. After all, your tenants may be renting your property, but they have made your property their home. As such, it’s understandable that conflicts may arise occasionally. However, the biggest mistake in dealing with tenant issues is […]
30
Jul
Jul
You don’t have to search for long to find horror stories about overbearing, unfair landlords and how they mistreat their tenants. Unfortunately, it’s a common problem. However, some landlords act that way because they constantly deal with difficult tenants, tenants who never pay rent on time, and tenants who damage their property. However, regardless of […]
30
Jul
Jul
Landlords need to prioritize risk management, which simply means predicting future risks to your financial well-being and working to minimize or completely eliminate them. Fact: Landlord risk management applies not only to Howard County landlords but to landlords all over Maryland and the rest of the United States. If you don’t run your rental property […]
26
Jun
Jun
Updated 6/26/24 by Bay Property Management Group When property maintenance is necessary, many landlords are tempted to do all the home repairs themselves. However, sometimes this can defeat the intended purpose of economic efficiency. Surprisingly, it can be more expensive to do the home repairs yourself than simply hiring a professional to complete the work. […]
13
May
May
The 30-Day Notice to Vacate is one of the most important aspects of Maryland Landlord-Tenant Laws, but most people don’t know all it entails. In this article, we explain what the “30-day notice” is in Maryland tenant-landlord law and what types of lease termination policies every landlord should know. Maryland Landlord-Tenant Laws: What is the […]
09
Apr
Apr
If you want to sell a rental property, you’ll have to prepare it for showings and advertising. However, you may also find that there is a major roadblock on the path to selling: someone is currently living there. However, this does not mean hope is lost. You can still sell the property if you work […]