Top Property Managers in Montgomery County, MD
The 2017 Census reports over a million people are living in Montgomery County.
With a high percentage of well-educated young professionals (nearly 60% of people older than 25 have a Bachelor’s degree or higher), Montgomery County, MD is considered one of the most affluent counties in the nation.
Several universities and major companies call Montgomery County, MD home. These include Discovery Inc., Lafayette Federal Credit Union, Lockheed Martin, Choice Hotels and GEICO – to name a few.
As of September 2018, unemployment rates are also quite low for Montgomery County at just 3.2%.
Top Reasons to Own an Investment Property in Montgomery County, MD
Stocks, savings accounts, and mutual funds are all great ways to invest money. Yet owning investment property is more likely to yield high returns. Here are just a few of the top benefits of owning an investment property in Montgomery County.
- Tax deductions. A rental property owner can write off a large number of costs related to the properties.
- Tools, equipment, and repair materials: Anything to restore landscaping, fix leaky sinks, or address more serious home repairs
- Hiring contractors or staff for the properties
- Travel between locations: Mileage accrued from traveling to stores or to meet with legal professionals also counts
- Supplies and equipment for a home office (if you have one)
- Lawyers (or other professional services)
- Property management companies
- Theft and losses
- Affluent tenants. Montgomery County has a large base of elite, educated professionals. Affluent tenants tend to remain near the best jobs. Between the nation’s capital and the technology corridor in Montgomery County, scientists and businessmen come from all over the country to live here.
- Those tenants would be paying your mortgage. As the market increases, the properties will appreciate in value. Once your rental property business is off the ground, it will generate easy income and build equity for your portfolio.
Benefits of Professional Property Management in Montgomery County
Problems that arise from tenants can be severely taxing on your time.
Using a professional company to manage your properties cultivates more reliable tenants. This is largely due to the experience and resources a management company has in place.
Being able to sort through tenants that are potentially harmful to your business (a shaky financial history or a tendency to damage properties) means they will identify tenants that are more likely to pay rent on time and cause less wear and tear on their residence.
A property management company will set up interviews and establish professional and trusting relationships with new clients.
Property management companies are designed to cut down on activities that consume your time. These matters can include filling out tax forms, and handling legal problems, property inspections, and maintenance.
Why Choose Bay Management Group?
Bay Management Group offers exceptional rental property management in Montgomery County, MD. From marketing to maintenance, they will handle it all to help you get the most return out of your investment property.They can be contacted 24/7. Their agents are able to respond to tenants’ concerns or crises, which makes the tenants feel safer and boosts the reputation of your property.
With a team of trusted contractors, the company can quickly repair or restore properties to safe and working condition should an issue arise.
Their approach to canvassing for new tenants is aggressive. Bay Management Group’s deep resources allow them to use a variety of marketing tactics to find the right tenant for your property, including:
- Off-line mailers
- Online classifieds
- Trade sites, such as Craigslist
- Property sites, such as Trulia or Zillow
- Additional tenant placement companies
The subsequent tenant screen is equally aggressive, focusing only on the candidates who will pay on time and stay.
Contact Bay Management Group
Contact the Bay Management Group for any questions. As one of the most trusted property management companies in Montgomery County, their team of experts will be able to assist you with every step in the rental process.