Residential and Multi-Family Property Management in Prince George’s County
We have an expert property management sales staff and decades of collective experience working with properties in Maryland and throughout Prince George’s County. We will take care of your properties with the same diligence, professionalism, and expertise that have built our reputation.
Finding renters for property in PG County has never been easier.
With the second largest population in Maryland, second behind Montgomery County, and large construction projects underway, Prince George’s County has been experiencing rapid growth.
The construction has created many amenities for Laurel. Central County and Bowie are the fastest-growing parts of the county, with newer small businesses moving in.
Hiring an experienced property management company can work wonders for the morale of tenants, who know they have a responsive company at the ready.
Bay Management’s group of professional property managers and agents can help you navigate the quickly evolving market of Prince George’s County in order to meet the increased demand for rental property.
Professional Property Management in Prince George’s County
Property management companies relieve the stress of ownership that can quickly build because of tenant interaction.
Bay Management knows how to find good clients, keep them, and evict them if the need arises. Tenant screenings usually include a background and reference check with an interview. Declining a charming customer can be difficult for property owners when the would-be tenant spins tall tales or promise to pay the down payment a week late.
Bay Management also offers routine inspections a few times a year. This is to check and ensure that clients are following the terms and conditions of their contract; by doing so, this gives the property owner peace of mind.
Hiring a professional property management company also give tenants an immediate contact, freeing up your time. This also applies to rent collection, which is notoriously difficult for solo landlords to handle.
Top 4 Benefits of Owning an Investment Property in Prince George’s County
There is much to consider about investing in a rental property. If you have considered owning an investment property, now may be the time to act. Here are some of the top benefits that come along with acquiring an investment property:
- Asset diversification. Many successful investors have found that investment diversification is the key to their successful money management. Owning an investment property is a great way to balance your portfolio. And with real estate’s long term growth rate, your investments are safe.
- Prime location. As one of the quickest growing areas in Maryland, it’s a great location to purchase your first investment property, or add to your portfolio of properties. Housing options are increasingly in demand, making this a prime opportunity to invest.
- Cash flow. While an investment property is a long-term commitment, the right one could help generate a few hundred to a few thousand extra dollars a month.
- Tax write-offs. Significant tax deductions are given to rental property owners each year. You can write off interest on mortgages, maintenance repairs, travel expenses, and more.
Self-Managing Your Investment Property
Managing the property yourself can be challenging, especially if you own many properties and find your time split among several locations. There are benefits, however. You save some money and you will meet the tenants.
There are some questions you want to ask:
- Am I able to devote the time needed to tenants and maintenance concerns?
- Can I effectively screen candidates?
- Are my rules clear and effective?
- How can I ensure tenants abide by the contract while I’m gone?
- What is the proper process for tenant eviction?
- Would tenants respond well to my management style?
The last question is extremely important and might be difficult to answer honestly. Tenants will scrutinize you and turn down properties if they believe the landlord is difficult to deal with, which creates an added question: How long will your tenants stay?
Being able to effectively screen candidates is key to successful management. Are tenants always late or leaving properties before their contract ends? Bay Management will ensure that tenants pay their rent on time.
Once you strike a long-term relationship with a renter, the investment means steady income and a clean rental. Some tenants will make simple repairs on the property themselves. A strong relationship that forges a dedicated tenant is key to business.
Bay Management Group?
- 24/7 responsiveness – we challenge you to find that elsewhere
- Low 8% monthly management rate – our fee is among the lowest in the Greater Baltimore-Washington Metro area
- Broker-owned and locally operated – our company is born-and-bred IN Maryland
- 12 MONTH TENANT WARRANTY! IF WE PLACE A TENANT IN YOUR PROPERTY AND THEY ARE EVICTED WITHIN THE FIRST YEAR WE RELEASE THE PROPERTY FOR YOU FOR FREE. NO OTHER COMPANY PROVIDES THIS TYPE OF WARRANTY!
Contact Bay Management
If you have any questions regarding PG County rental property ownership, management, or even simple advice, please don’t hesitate to contact Bay Management online or by phone: 240-224-8220.
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