Top 4 Reasons You Should Own an Investment Property in Anne Arundel County
While owning property isn’t for everyone, it is certainly a viable investment opportunity for a large number of financially-savvy individuals. If you have never considered owning an investment property, now may be the time to start.
Here are a few of the biggest reasons:
- Prime location While you could choose to own an investment property anywhere, Anne Arundel County is preferred for its prime geographical location and proximity to major industries. As the popular phrase goes, it’s all about location, location, location – and Anne Arundel County is a great location.
- Asset diversification Is all of your money tied up in savings accounts, stocks, and bonds? If so, you need to add a little diversification to your portfolio. For centuries, real estate has been proven to steadily increase over time, yielding large profits and payoffs. If you want to beat the meager one or two percent you receive from the bank, owning an investment property in Anne Arundel County may be right for you.
- Cash flow While an investment property should certainly be looked at as a long-term commitment, an additional benefit is that it can provide you with some cash flow in the meantime. By choosing the right investment property, you can easily generate a few hundred to a few thousand extra dollars a month.
- Tax write-offs Rental property owners are entitled to large tax deductions each year. Not only can you write off interest on your mortgage or credit card used to purchase the property, but you can also write off aspects like maintenance repairs, travel expenses, insurance, property taxes, and more.
Benefits of Hiring a Professional Property Management Company
While you can go about it on your own, it’s better to hire a professional property management company to handle the major issues, as well as the finer details. Some of the top benefits of working with a professional company include:
- Attracting better tenants
- Saving time associated with minor and major maintenance issues
- Fewer legal concerns
- Shorter vacancy cycles
- Quicker rent collection
- And more
In the end, one of the most important benefits of hiring professional property management in Anne Arundel County is that you can increase the value of your investment.
Through preventative maintenance, tighter rent collection, and lower turnover rates, a professional management company can help you obtain a higher ROI every year you own the property.
Why Choose Bay Management Group?
At Bay Management Group, we are experienced at handling property management in Anne Arundel County. While some companies merely dabble in property management, we are fully committed. It’s all we do, and we’ve worked hard to build our reputation as the best in the business. When you work with us, you get access to full-service management, residential marketing experts, and our promise to serve your best interests above anyone else’s.
Contact Bay Management Group Today
Whether you are just starting out as a property investor or already have an existing portfolio, we would love to help you maximize your investments in Anne Arundel County.
For more information on our property management services, don’t hesitate to contact us online or by phone: 240-224-8220.
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