Takoma Park is a beautiful place. A city with a “social conscience,” it features a wide range of parks and puts on a variety of annual, culturally specific festivals.
Major bike trails either exist or are currently being built to lower reliance on motor vehicles. The city borders Washington, D.C. and is minutes from the capital’s downtown.
If you are considering owning rental property and are seeking a serene location with a strong sense of community, Takoma Park is the place to begin investing.
Top 3 Benefits of Owning an Investment Property in Takoma Park
Now is a great time to invest in a rental property. Some of the top benefits include:
- Rental properties are assets that appreciate over time. Combined with equity and some patience, appreciation can result in huge financial returns for property investors
- The prime location is very appealing to tenants. The close proximity of Takoma Park to the nation’s capital means commuting tenants will love the easy access to downtown combined with the area’s natural feel and stately parks.
- Owning a rental property also means taking advantages of tax deductions. These deductions include:
- Maintenance equipment and tools
- Mileage and other travel expenses
- Professional services
- Property management companies
- Office supplies, computers, and materials
Should You Self-Manage Your Properties?
Tenants can damage houses. Property owners often find themselves in court over such matters. Or maybe a tenant didn’t pay, but they aren’t intimidated by your eviction notice either.
In short, self-management is challenging. The variety of problems and wide range of customer interactions usually prove to be too much for one person.
Companies like Bay Management have a large staff that complements its many strengths. Agents working in tandem can handle multiple tenant issues at the same time, coordinating and dispatching trustworthy contractors that have proven themselves time and again.
Due to the obvious and immediate legal ramifications of ignoring rent payment to such a company, tenants are more likely to pay on time.
Unless you have extensive experience in investment property ownership and management, we don’t recommend going it alone.
Why Choose Bay Management Group?
The Bay Management Group provides you the best service in Maryland. They have some of the lowest monthly rates, saving you money. They are one of the few property management companies to provide customer service representatives 24/7, ready to take immediate action when tenants call in with emergencies.The company has experience dealing with thousands of property owners, tenants, and potential tenants. They know when a client could be a problem, and will fill your homes with reliable tenants.
Their rent collection methods are professional and effective, making expectations clear to tenants before the contract is signed. If tenants don’t comply, eviction proceedings begin in less than a week. This minimizes the amount of time your property is off the market and not generating money.
Bay Management has professional relationships with a host of contractors, sub-contractors, accountants, legal professionals, and licensed inspectors. Anything needed by you or your tenants can be summoned at request.