The Benefits of Property Investment
Parkville is a family-oriented suburb of Baltimore with a growing demand for single-family home and duplex rentals.
Communities such as this one will provide landlords with tenants who want to stay for longer periods of time since moving with children can be difficult.
Long-term tenants provide you with income to pay off the mortgage of the house they are living in. As you pay off this mortgage, you will gain equity and leverage to buy more property. Buying more property means more income!
Long-term tenants will also take better care of your property, so you can be confident your investment is secure. Properties that require fewer repairs will see steady appreciation and greater ROI.
You can write off depreciation of your rental property and neutralize taxes levied on other sources of income. Additionally, you do not have to pay any taxes on the increase in your property’s value until you sell it.
Should You Use a Property Management Company in Parkville?
Maintaining a rental property is a lot of work and can lead to a host of issues and loss of income. If you employ a property management company, they can take a lot of stress out of being a landlord.
Here are a few things professional property management companies will handle for you:
- Maintenance and repairs.
Management companies employ a full staff for routine maintenance, and have contractors on retainer for larger projects.
- On-site evaluations and walk-throughs.
Companies provide checklists and inspection services to keep track of your units.
- Legal documentation.
Management specialists are well-versed in rental laws and all relevant documents, including lease terms and eviction notices.
- Tenant marketing.
They know who the right audience is and how to market to them.
- Tenant screening.
Management companies will thoroughly screen your tenants with background checks, credit checks, and references.
- Tenant retention.
They are skilled in keeping tenants happy and getting them to stay long-term.
- Lead paint laws and removal.
Property management companies assist with inspections and lead paint testing, and will provide you with services for lead paint removal if necessary.
- Property income management.
Some management companies provide financial reports to help you manage your income.
- Rent collection.
They offer timely and organized rent collection so you do not have to worry about lost income.
Why Choose Bay Management Group?
Bay Management offers full-service property management in Parkville.We have an experienced staff that is available every day of the week, 24 hours a day; we will respond to the needs of you and your tenants quickly. Landlords can feel safe knowing their properties are maintained, and tenants can feel safe knowing they can have their issues resolved any time of the day.
Based in Baltimore, Bay Management has had extensive experience working with properties throughout Baltimore County and knows these communities better than anyone else.
Using our vast marketing resources, we will find you the right tenants for your Parkville investment property. All applicants will be screened so you can be sure you are getting a high-quality tenant.