New or novice rental property owners may find that being a landlord entails more than they bargained for. That said, enlisting the help of one of Gaithersburg’s top property management companies is the next logical step. However, you may be unfamiliar with the responsibilities of a property manager and just how much they can benefit property […]
Category Archives: Tips for New Landlords
28
Jul
Jul
So many opinions on how to be a successful real estate investor can be overwhelming to new owners. In 2021, investors looking to diversify their current portfolio or take advantage of passive income opportunities turn to real estate. Thanks to developing technology and professional management firms, it is now easier than ever to efficiently manage […]
26
Jul
Jul
Many uncertainties accompany rental property ownership. However, one thing is for certain, maintenance and repairs are inevitable. Unfortunately, a common mistake for new landlords is underestimating potential maintenance costs and not preparing for the worst. While avoiding many disastrous repairs involves preventive action, it is always a good idea to set aside more emergency funds […]
23
Jul
Jul
Maintenance and repairs are some of the biggest expenses for rental property owners. However, learning how to complete simple DIY repairs and knowing when to call experts is important to managing costs. For example, unclogging a toilet could be an easy DIY fix, but hiring a professional plumber can run anywhere from $150 to $700! […]
20
Jul
Jul
Upwards of 70% of today’s renters own a pet, yet finding accommodating housing can prove challenging. For landlords, accepting pets comes with some inherent risk, yet not accepting them severely limits the pool of prospects. That said, allowing pets requires landlords to create strict policies and require extra fees to help protect your valuable investment […]
19
Jul
Jul
For many reasons, living close to your rental investment property may not be possible. While living close by does make things easier, being a long-distance landlord can work if you are prepared. Modern technology and services allow investors to purchase property anywhere to get the most out of their portfolios. Join us below as we […]
13
Jul
Jul
Facilitating property tours for prospective tenants is an essential part of being a landlord. In fact, this step in the process is just as crucial as marketing to and screening potential renters. Most landlords realize that showing their property in the best possible light is crucial. Sometimes a deep clean, staging furniture, or boosting […]
06
Jul
Jul
Water issues in a rental property are more than just an inconvenience. In fact, water can lead to extensive damage, mold growth, health hazards, and expensive repairs if not immediately addressed. That said, when a pipe burst and water is pouring into your home, it is easy to become overwhelmed. So, knowing how to find […]
29
Jun
Jun
Tenant screening is a landlord’s best defense against potential problem tenants. However, it is also a process that opens property owners up to major liability if Fair Housing Laws are not carefully followed. In this day and age, lack of knowledge is not a defense. So, landlords must learn and adhere to all federal, state, […]
22
Jun
Jun
Handling a vacancy can be a nerve-racking experience for landlords. So, when you finally have an approved application and move-in date, it is an exciting time. However, a landlord’s work does not end once the application gets approved. Move-in day requires preparation to go smoothly and create a positive and lasting impression on your new […]