Renters’ Rights and Stabilization Act (RRSA): Is It Time to Hand In the Keys?
Big changes have come to Maryland’s rental housing landscape—and if you’re a property owner, now’s the time to decide if you hand in the keys or buy more doors. The Renters’ Rights and Stabilization Act (RRSA) went into effect October 1, 2024, directly affecting landlords and tenants. Whether you’re considering selling or expanding your portfolio, these new regulations could tip the scales. Here’s what you need to know: 1. Higher Eviction Filing Fees Maryland had the lowest eviction filing fees in the nation. The RRSA raised those fees to bette…
Property Management Horror Stories: Why You Shouldn’t Go It Alone
Owning a rental property can be a lucrative investment, but managing it yourself? That’s where things can get trying—sometimes even terrifying. From nightmare tenants to shocking discoveries, self-managing landlords often encounter unexpected situations. If you’re still on the fence about hiring a professional property management company, these horror stories are real--and just might give you a fright. The House of Horrors One of the worst rental situations we’ve heard about from another company started like any other. The tenants seemed respon…
The Hidden Risks of Being a Landlord—and How to Protect Yourself
Owning a rental property can be an excellent investment, offering a steady stream of income and long-term equity growth. However, many landlords quickly discover that renting comes with its fair share of challenges and financial risks. While most property owners plan for routine maintenance and occasional vacancies, fewer are prepared for the bigger, more costly issues that can arise with tenants. The Costly Risks Landlords Face The unfortunate reality is that even the most responsible landlords can encounter problems with tenants that lead to …
Is Full-Service Property Management Worth It?
When property owners acquire their first property, they tend to think there isn’t much to managing it. Clean it up and get a tenant in there. But, over time, and as they grow their portfolio, they realize the time and headache it takes to manage a property well. When a landlord or property owner comes to that realization, they begin to call and research professional full-service property managers. So, what exactly is a full-service property manager and what do they do? Property managers offer numerous services, beginning with marketing and ad…
What Counts as a Maintenance Emergency For Your Rental Property?
Tenants often expect immediate repairs for any inconvenience, but not every issue qualifies as an emergency. As a property manager, you know what it’s like to get a call about things that aren’t working properly. A leaky faucet or a squeaky door can irritate a tenant and make them insist you come at once to fix the irritation. Yet, not all repair requests qualify as an emergency. As a property owner, it’s crucial to prioritize true maintenance emergencies—issues that threaten tenant safety, cause significant property damage, or make the home un…
