Adams Morgan is a diverse neighborhood with popping nightlife featuring a variety of bars, restaurants, and music venues as well as funky shops and colorful storefronts.
The tree-lined streets feature brick rowhomes and bright murals and residents enjoy weekly farmers markets and festivals plus the benefit of close proximity to Rock Creek Park!
Benefits of Owning a Rental Property in Adams Morgan
Investors looking for a high-yield know that rental properties are the way to start. Investment properties serve as a source of supplemental income as well as a great long-term investment. Here are a few additional benefits of investment properties in Adams Morgan:
- Desirable Location
People looking to rent in Adams Morgan are willing to spend what it takes to live within this popular Washington DC neighborhood.
- Tax Deductions
Landowners can deduct money spent on repairs or mileage driven to buy materials and visit housing. Interest paid on properties can be deducted. The number of tax deductions could be surprising.
- Building Equity
Tenants will be paying your rent. As you build a stable business with filled apartments and homes, you will be receiving monthly payments in addition to a diminishing mortgage principal and value appreciation.
Self-Management vs. Professional Property Management
There are many benefits to hiring a Washington, DC property management company. The company is meant to be a screen between you and your tenants. From marketing and lease signing to rent collection and eviction services, your DC property manager can take the hassle out of the day to day management responsibilities.
Property management companies are kept up-to-date on landlord/tenant laws and can prevent a landowner from getting into trouble.
They can also advise owners on how to make the most of their tax deductions or how to seize the best available investment opportunities.
Property management companies can be counted on to deal with the legal and financial issues related to having tenants. They will act as your accountant and rent collector. They will begin eviction proceedings if tenants don’t pay rent and take problem renters to court.
Do you have the time to screen new tenants, conducting background and criminal checks, calling references to find the right tenants? Do you have the staff to deal with two complaints at once?
When landlords have an issue, property management companies have a structured response with contractors and other professionals in reserve, ready to act in a coordinated effort to solve tenants’ problems.
Why Choose Bay Property Management Group?
The Bay Property Management Group Washington DC is a staple Adams Morgan property management company, a market they understand better than anyone. Their customer service is available 24/7, and their monthly fees are among the lowest of any property management company in Washington, DC. The company has a diverse advertising campaign to get new listings on the market to fill rental units fast. They also research potential tenants’ incomes, backgrounds, and credit for any liability. This approach guarantees strong market exposure to the best potential tenants for your property.