When trying to choose a property manager for your rental properties, there are several things you want to look for, including experience, good reviews, customer service, and price. But the most important factor of all of these is experience. An experienced property manager will have a knowledge of the proper paperwork to file, a system for collecting rent and finding a good tenant, a maintenance team, and more. Experience is something that no amount of teaching can make up for and is the best way for you to get the most out of the property management company you hire.
While this may seem obvious, you always want to make sure the property management company you hire has experience not only with Maryland state laws regarding rental properties but your local county and city laws as well. You need to know that the company you hire is up-to-date on any changes made in laws and regulations so that both of you are doing everything legally and officially.
Proper tenant placement can be the difference between you having a great renter who pays on time for years or having your rental property empty often because bad renters move out constantly. Hiring a property manager who can vet tenants to find a quality tenant who will pay their rent on time and plans to stay for an extended period of time helps make your life easier and helps you make more money in the long run.
Collecting rent and security deposits may seem like a simple task, but it’s amazing how time-consuming collecting rent every month can be if a renter doesn’t pay automatically online or doesn’t pay on time. It can take a lot of time out of your day. It also means you get paid later than you were expecting. Hiring a property manager who has experience collecting rent each month in an organized manner helps you get paid on time and means you don’t have to take time out of your day to do it yourself.
A property manager should provide you with receipts, annual statements for tax purposes, itemized statements each month, and move-in/move-out reports for each of your properties. Your property management company should have experience in sending these documents to their clients on a regular basis so that you have a copy of all legal documents and paperwork involving your properties.
During off seasons or times when you are looking for a tenant but your property is empty, you want to make sure your property maintains its curb appeal for any potential tenants who drive by. A property manager should have experience making sure your rental property stays in good shape for showings and those who drive by to get a look at the property.
There are a lot of legalities when evicting a tenant, and not every tenant makes the eviction easy or simple. A property manager should have experience with Maryland laws about evictions and different ways the eviction may go so that there aren’t any surprises or any situations handled incorrectly.
Mother Nature can be unpredictable as well as normal, everyday household items and events. Filing insurance claims for a rental property can be a lengthy, drawn-out process depending on how big the claim is. Having a property manager who has had experience dealing with filing the paperwork and talking to insurance companies can be a huge help to you at a time when you need it most. It could be the difference in how much is covered and how much you get back, so be sure you work with a property manager who has experience in this area.
Finding a great tenant starts with where you’re advertising your rental property, so you want to find a property manager who will advertise in places that make sense to not only find a tenant, but find a great tenant. Experience with advertising for rentals in Maryland is important for any property manager to have to help you find quality tenants quickly to fill your rental property.
Finding a maintenance team who is reliable and on-call 24/7 can be difficult, but an experienced property manager should have one of their own or several they have a great working relationship with. You never know when someone’s air conditioning or heat may go out, and they need someone over to the rental property asap. Knowing that you don’t have to take those 3 a.m. calls because your property manager has handled it for you can help you sleep even better at night.
If you are in search of a property manager in Maryland with experience in these areas, look no further than PPMI. With over a decade of experience in property management, rentals, paperwork, and more, our president founded PPMI to help property owners earn money on their properties in a simpler way without having to do every task themselves. Our team can help take the work off your plate to free up more time for you while you still make money on every property you own. To find out more about our services or how we can help you better manage the properties you own, contact our offices today. We look forward to working with you and making owning property easier than ever.
Premier Property is dedicated to providing the very best property management services in Baltimore City, County and surrounding communities.