Mt. Vernon, Baltimore, MD
Considered the cultural and historic district, Mount Vernon is home to institutions such as the Peabody Library and the Walters Art Museum. This hip neighborhood provides residents with an eclectic array of dining options including the Mt. Vernon marketplace where one can select from a diverse selection of vendors.
In addition to the cultural and dining attractions, Mt. Vernon is home to Penn Station and ideally located to the University of Baltimore, Maryland Institute of Art, and the University of Maryland Medical Center, making it a popular neighborhood for students, faculty, residents, and young professionals.
Benefits of Owning a Rental Property in Mount Vernon
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 Mt. Vernon:
- Desirable Location
In addition to the cultural offerings, Mt. Vernon is proximal to many area colleges making it a highly desirable location for students, faculty, and young professionals alike. - Tax Deductions
There are a multitude of tax deductions available to rental property investors including repair costs, mileage driven to and from the property, and mortgage interest.
- Building Equity
With tenants paying a monthly rent, you are able to build equity in your investment by diminishing your mortgage principle and appreciating the value of your investment.
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 located in the heart of Mt. Vernon and we understand the Mount Vernon rental market better than any other property management company. We offer 24-hour emergency maintenance and customer service and have the lowest fees among Baltimore property managers. 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.