Located 8 miles north of Annapolis, 17 miles south of Baltimore, and 39 miles east of Washington D.C., it’s easy to see why Severna Park, Maryland, is such a desirable place to live, work, and play.
Minutes from the coast, miles from Capitol Hill, and a short drive to world class concert venues, professional sporting teams, and thriving industries, Severna Park is a can’t miss real estate opportunity.
4 Benefits of Owning Investment Property
While there are plenty of financial investment opportunities to be had through stocks, bonds, savings accounts, and retirement funds, the yield is usually low and the benefits minimal.
On the contrary, owning investment property – specifically in Severna Park – can allow you to earn sizeable returns on a monthly basis.
Here are a few of the top benefits:
- Steady Cash Flow.
For most Severna Park investment properties, you can expect a steady cash flow. While the amount you can expect to yield will likely depend on a number of independent factors, it is not uncommon to earn a few hundred or a few thousand dollars a month. For most people, this serves as healthy supplemental income.
- Tax Write-Offs.
In addition to the cash flow, tax write-offs can save you thousands every year. Some of the items you can deduct each year include mortgages, insurance, property taxes, maintenance and repair fees, legal expenses, and other associated costs.
As recent years have shown, having all of your money in stocks and bonds can be risky. On the other hand, real estate has shown steady, long-term growth over multiple centuries. While there are ups and downs, growth is virtually guaranteed in the long run.
- Population Growth.
If there is sure fact, it’s that the population will continue to increase in Maryland. As more jobs are being created in the surrounding areas and more people begin looking for places to live, real estate prices and rental rates will only continue to increase. Now is your chance to get in while it’s still affordable.
Reasons to Hire a Professional Property Management Company
Whether you own one, two, or ten investment properties, you’ll be forced to choose whether you want to handle things on your own or relinquish control to a professional property management company. While it is feasible to handle your own properties, it’s rarely practical.
Property management in Severna Park is best handled by the professionals for a number of reasons.
- It will save you many unnecessary headaches and late-night calls. A property management company will handle repair calls, schedule maintenance, collect rent, and even evict tenants if necessary.
- A property management company can save you from legal issues and complications. They understand how to handle contracts, tenant screening, vacancies, and logistics.
- Property management companies are excellent at keeping properties rented, lowering turnover frequency, and increasing tenant retention rates.
If you are looking for tighter rent collection processes, assistance with complicated tax matters and legal issues, help marketing and advertising properties, or anything in between, you need to work with the professionals.
Property Management in Severna Park: Choose Bay Management Group
For property management in Severna Park, let Bay Management Group be your dependable partner. We are a full-service management company dedicated to putting our clients’ best interests ahead of everything else. From background screening and rent collection to regular inspections and even evictions, we handle every detail – big or small.
In addition to the logistics, we are also fully capable of handling your residential marketing efforts to ensure your property is visible and always occupied.