White Marsh is a great place to invest in property. As a newer community, it offers better infrastructure, higher quality construction, and a younger populace. Properties that are located in newer, up and coming areas have more value from the get-go and offer a high return on investment.
Benefits of Owning an Investment Property in White Marsh
- Low Need for Maintenance
Since it is a newer community, landlords may find houses that need minimal, if any, structural or cosmetic repairs.
- Capital Growth
Higher quality properties add to the already low risk of property investment. If landlords purchase property now while mortgage rates are low, the value of the property will only continue to appreciate. You may see a return on your investment higher than the average 10%.
- Prime Location
Situated between Interstates 95 and 695, White Marsh offers the convenience that most commuters are looking for. It also boasts numerous shopping opportunities – a key feature for renters with families.
- Tax Deductions
A number of expenses incurred as a landlord can be written off. Repairs, travel expenses, home offices, and credit card interest are all legitimate deductions.
- Passive Income
Perhaps the most common benefit of investing in rental property is that it generates residual, passive income. Landlords collect monthly rent from tenants without having to work hard for it, if they know what they are doing.
Newer landlords, or landlords that have multiple units, should employ the help of a property management company. Property management companies will do all the hard work for you, making collecting rental income almost completely effortless.
How Can I Be Sure I Want to Use a Property Management Company?
Property management companies save investors a lot of time and money. The work they put into your units is worth the peace of mind it gives you.
Here are a few step-by-step processes a good property management company will offer you:
- Tenant marketing. Property management companies will first market your property to the appropriate targets, casting the widest net possible.
- Tenant screening. As applications come in, the management company will screen candidates to make sure they are a good fit for your property based on background, credit checks, and references.
- On-site evaluations and walk-throughs. Once you have secured the perfect tenant, a walk-through to inspect the property will be conducted. Tenants will sign off on a checklist outlining any pre-existing issues.
- Lead paint laws and removal. If lead paint laws apply, the paint will be removed prior to tenants moving in.
- Legal documentation. Property management companies will supply tenants with specific, well documented lease terms. During the rental period, any legal issues that may arise will be taken care of by the management company.
- Property income management. Reports on monthly rental earnings will be provided to you to help you manage your finances.
- Tenant retention. Property management companies specialize in keeping happy, respectful tenants. Tenants who pay their rent on time and do not cause problems may be asked to renew their lease if you agree. Problem tenants will have their lease terminated or be evicted if they fail to pay rent.
- Maintenance and repairs. After a tenant moves out, and during the lease, repairs or maintenance that needs to be done will be arranged by the management company. An in-house staff will be responsible for cleaning and small repairs, and an established network of contractors will be contacted if larger repairs are needed.
Why Choose Bay Management Group?
Bay Management offers full service property management in White Marsh and will take care of your property through every step of the rental process.In addition to providing property investors with these services, Bay Management has someone available 24/7 for any of your (or your tenants’) needs.
Bay Management provides the best property management services in Baltimore County, and we do so at exceptionally low rates. We know the area and can help you find the perfect tenants to call White Marsh home.