Fells Point, Baltimore, MD
This historic waterfront community is situated in Southeast Baltimore and boasts an eclectic mix of historic rowhomes along cobblestone streets as well as newly constructed luxury apartments. A popular destination for tourists and Baltimore residents offers hip restaurants and bars mixed with unique shops, galleries, and historic charm.
As one of the oldest neighborhoods in Baltimore, Fells Point is home to many historic sites and museums, including the oldest-standing residence, the Robert Long House and the Frederick Douglass-Isaac Myers Maritime Park Museum. Residents and visitors can also enjoy the weekend Fells Point Farmers Market or one of many festivals in the main square.
Benefits of Owning a Rental Property in Fells Point
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 Fells Point:
- Desirable Location
People looking to rent in Fells Point are willing to spend what it takes to live within this popular downtown 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 Baltimore 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 Baltimore 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?
Bay Property Management Group is a staple Fells Point 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 Baltimore. 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.