Now is a great time to buy and own investment properties in Baltimore and the surrounding areas. While owning an investment property may seem like a great idea, there are limitations to doing everything yourself. If you are a first time owner of a rental property, there will be a learning curve as you figure out what to do and what needs to be done. If you already own a rental property, you may be limited in being able to purchase more investment properties because you do not have enough time in a day. No matter what your situation may be, Premier Property Management Investment (PPMI) is here to help.
As a first time owner of an investment rental property, you may find all the work exhausting, overwhelming or just downright frustrating. With so many legal papers to file, maintenance updates to be done on the property, finding tenants, evicting tenants, and the list goes on, it can be too much to handle. That is where we come in. At PPMI, we have been helping new rental property owners since 2007. Our team of experts can take care of every detail, from finding and vetting tenants to evicting to collecting rent. All you have to do is watch as money gets deposited into your bank account every month.
If you have owned investment rental properties in Baltimore for a while and are looking to purchase more but just do not have the ability to because of time, we can help you too. Our team can take care of as much or as little as you need. If you enjoy finding and vetting tenants, we can work on the paperwork, maintenance, annual filings, and more so you can do more of what you enjoy. We can help free up your time so you can continue investing in rental properties for a great return. If you decide you’d prefer to have our team do everything, that is fine too. You can free up your time to look into other investment opportunities or just spend more time with the ones you love. It’s completely up to you. You will see a deposit each month into your account, and you can know everything was taken care of for you.
If you have not yet purchased an investment rental property but are looking to do so, we offer consultation services that can help answer some of your questions or help you decide if rental properties are a good investment for you.
Some of the things to consider when looking to purchase an investment property are:
Location – Is it a good and desirable location for the tenants? What is located around the property? Is there easy access to popular restaurants, shopping, schools, and highways? That is a huge question you will want a yes to on most or all of those. What is the neighborhood like? You want to make sure you understand the area before purchasing. Some areas of Baltimore are a lot more desirable to live in than others.
Condition – Not all rental properties are created equal. How much work will have to be done to the rental property? If there is not a lot of work that needs to be done now, are there certain items that will require more maintenance than normal in the future? Is it a good layout for an office or home? Depending on the answer, are there glaring features that could deter tenants from wanting to rent? Open concepts, easy to understand layouts, and utilizing space are all great things to look for in rental properties.
Price – Is the investment property a good deal for what you are getting and what you will get in return? How much have similar properties sold for recently? Is it a good price for the area it is located in? Investment rental properties, especially in Baltimore, can be a big investment up front. But the return can be worth it for the right property.
Knowing the value of rental properties that have recently sold will be helpful in knowing if you are overpaying for a property or if the property is a good value. You can’t just look at how much you will make every month without seeing the big picture. Having some guidance in this area could save you a lot of time and money now and in the long run.
No matter which category you are in: first time investment rental property owner, long time rental property owner or hoping to soon become an investment property owner, PPMI is here to help. We have personal experience owning and managing rental properties and have been helping others for years save themselves time and money by utilizing our services. We even offer different fees and rates based on the amount of work you need because no two companies are the same, so you can choose which option works best for you and your business.
For more information about PPMI, our services, how we can help or when to get started, you contact us during normal business hours by phone or any time by filling out the form. We look forward to working with you and helping you save money and/or investment wisely in your investment rental property while also making life simpler, easier, and more enjoyable for the things you truly want to spend time doing.
Premier Property is dedicated to providing the very best property management services in Baltimore City, County and surrounding communities.