Owning a rental property can be complicated and pricey. The good news is, unlike being a standard homeowner, there are tax deductions when owning a rental property. We always recommend that you hire a Philadelphia property management company or tax advisor to assist with adequately deducting these items. Learn more about what things are deductible […]
Category Archives: Property Management in Philadelphia
15
May
May
Do you need a rental license for your Philadelphia investment property? Obtaining a Philadelphia rental license requires several compliance items to get started, but Bay Property Management Group Philadelphia can guide you in the process. Things To Do Before the Rental License There are items you will need in hand when you go to […]
29
Apr
Apr
Are you wondering if your tenants are required to pay May rent amid COVID-19? The short answer is yes, but the answer is more complicated. As of now, the “no eviction” policy will end at the end of April. However, an extension is likely, as much of the country is still on lockdown. This will […]
21
Apr
Apr
As a Philadelphia landlord, you may be asking, “Should I collect first and last month’s rent?” Some landlords require first, last, and the security deposit, while others may just require first month’s rent and the security deposit. There are pros and cons to asking for first and last month’s rent. If you’re considering the best […]
06
Apr
Apr
Avoiding eviction mistakes is paramount for Philadelphia landlords. Evictions are complicated and if the laws and regulations aren’t followed to the tee, serious consequences can occur for landlords. Several common mistakes are easily avoidable, yet landlords and property managers continue to make them. Take a look at these ten common mistakes landlords make when evicting […]
23
Mar
Mar
Most apartment buildings in Philadelphia provide private parking, which can be convenient for residents wondering where to park in PA. However, rental property parking lots in PA can be tricky to manage. Property owners may be faced with various types of parking options such as surface lots, parking garages, and off-site lots. While each of […]
27
Feb
Feb
One of the benefits of living near Philadelphia is access to some of the top employers in the nation. Philly’s top employer is the federal government, but that’s only the beginning of the story of the best employers in Philadelphia. If you’re wondering what it is like living and working in Philadelphia, we’ve got a […]
06
Feb
Feb
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 awesome team members, and how they each contribute something special to our property management company. […]
30
Jan
Jan
In the previous two segments, we focused primarily on the financial aspects of choosing a good tenant, including income verification and analyzing credit histories. Today we’ll be looking into the more personal aspects of your prospective tenants: background checks and rental verifications. Both of these activities are meant to help you exclude anyone who might […]
30
Dec
Dec
Credit reports are a significant part of the tenant screening process as a person’s credit is a direct correlation to their trustworthiness to pay back their debts. In this second installment of our three-part Tenant Screening series, we’ll be focusing on this portion of application screening in PA. Understanding an applicant’s financial history is critical […]