Blog

As a landlord, you want your rental property to be appealing to potential tenants. One term you'll likely encounter is "rent-ready," which signifies a unit that's prepared for immediate occupancy. But what exactly does this mean? The Importance of a Rent-Ready Property Imagine touring a potential apartment: lights flicker, blinds are missing, and there are leftover paint cans in the corner. Not exactly move-in ready, right? A rent-ready property creates a positive first impression for potential tenants. It shows you take pride in your property …

Recent legislative developments in Maryland have introduced significant changes for property owners. Below are 8 changes effective October 1, 2024, that may impact how landlords manage their rentals and their risk. Security deposit capped to one month's rent This impacts the landlord’s ability to collect any type of additional deposit including pet security deposits. Landlords may be more selective in choosing tenants, potentially making it harder for some individuals with pets or a history of damage, to find housing. Landlords may increase …

In Maryland, unlike some other states, there are no statewide restrictions on rent increases. This might seem like good news for landlords, but it's not quite that simple. Here's what you need to know: Balancing Market Rates and Tenant Retention: While you can technically raise rent at lease renewal or expiration, setting a fair market price is crucial. Excessive increases can backfire, making it harder to attract and retain tenants. Aim for an increase that reflects rising costs like maintenance, utilities, and property taxes, but keeps your p…

Eviction is a complex legal process that can be challenging for landlords, especially in Maryland where the laws are specific and constantly changing. Making a mistake during an eviction process can be costly and time-consuming, so it's important for landlords to know what to avoid. Here are some common eviction mistakes that landlords make: 1. Failing to Provide Proper Notice: Maryland landlords must provide written notice to the tenant before starting an eviction process. The type of notice required and the timeframe for providing it can var…

Imagine the sinking feeling: you entrust your property to a professional management company, only to discover they've been lining their pockets instead of fixing your leaky roof. Unfortunately, this isn't just a nightmare – it's a harsh reality some landlords face. It was recently in the news that a property manager embezzled $10,000 meant for repairs leaving the owner with several maintenance issues that needed to be dealt with. So, how can you ensure your hard-earned maintenance dollars are actually being used to maintain your investment? Tra…