The 7 Most Common Reasons Landlords Use Property Management Companies

Many times those who begin investing in Philadelphia rental property set out to do it all themselves. After all, being a property owner and leasing rental properties is the true path to a passive form of income, right? Well, not exactly… Though managing rental property can be fairly hands-off under the right circumstances – if … Read More

6 Things Tenants Want in a Landlord

Every rental property owner in Philadelphia wants to know what it takes to be a successful landlord. Keeping your property turnover rates low, boosting lease renewals, and striving to keep your tenants satisfied, are the keys to succeeding in the rental property business. However, that’s the point: this is a business, and should be treated … Read More

How to Handle After-Hours Calls from Your Tenant

If you own rental property in Philadelphia, you know that being a landlord is not a 9-5 job. And while sometimes this is a blessing in disguise (think no corporate office setting, no timeclock, and no required business casual attire), there are times when working in a non-traditional industry such as real estate can wreak … Read More

Should You Approve Tenants Without Meeting Them?

Would you ever consider leasing your Philadelphia rental property to a tenant you have never met? Most property owners would immediately say “no.” After all, meeting a prospective tenant in person leaves a valuable impression on you, and ultimately helps in determining whether they are a good fit for your property. But is there really … Read More

Month-to-Month vs. Yearlong Leases: The Pros and Cons

Have you ever wondered why your Philadelphia tenants sign 12-month lease agreements?  While most property owners have tenants sign a yearlong lease agreement that can be renewed for another 12 months come the end of the lease term, there are those that prefer month-to-month lease agreements instead. If you are curious about the pros and … Read More

How to Determine Tenant Damages Vs. Wear and Tear

Every rental property owner in the Philadelphia region has had to contend with the term “normal wear and tear” at some point. While seemingly self-explanatory, the truth is that understanding what constitutes normal wear and tear in your rental property, and what equates to actual damage, is much more difficult than you likely anticipated. And, … Read More

Should You Allow a Cosigner For Your Tenant?

It’s tough enough to draft a legally compliant lease agreement for your Philadelphia tenant, but adding a cosigner policy takes things to another level of complexity.  Along with that comes the question of why your tenant needs a cosigner in the first place. But is it really a big deal to allow your tenant to … Read More

Rental Property Management Tips for New Landlords

Property management is a serious business that requires a serious approach. Make sure you have all regulations, procedures and paperwork in place before you put your property on the market. Bay Management Group is here today to help you avoid a few embarrassing situations that may occur if you are new to property management. 4 … Read More

5 Ways You Can Benefit From an Income Property

When it comes to investing money, many of us get hesitant, whether we are talking about buying stock, starting a business or purchasing a property. And it’s not surprising because big money is involved, as well as your time, effort and sometimes personal liability. At Bay Management Group, we are no experts in stock market … Read More