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As a rental property owner, you may eventually face the decision of whether or not to sell your property. Here are 9 signs that it may be time to sell your rental property: 1. Increased Maintenance Costs: If the costs of maintaining your rental property are significantly increasing, it may be a sign that it is time to sell. Are these costs eating into your profit with no end in sight or are they one and done issues? 2. Decreased Rent Income: If you are experiencing a decrease in rent income or vacancy rates, it may be time to re-evaluate your …

Being a landlord in Maryland comes with its share of responsibilities, and it's important to stay informed about the latest legislative changes that may affect your rental properties. In this blog, we'll explore three recent bills that have passed and are set to become effective on October 1, 2023. These changes address issues related to rental licensure, rent increases, and tenant rights. HB 36/SB 100 – Proof of Rental Licensure Maryland has taken steps to ensure that landlords operating in jurisdictions requiring licensure comply with local r…

Managing a rental property takes a lot of time. Handling maintenance requests, late night calls about lost keys, managing rent payments, figuring out how to list and market your property when the tenant leaves and the headache from turning over the rental can all be avoided by delegating this to someone else. Read below to see the 9 reasons to hire a property manager. 1. Expertise: Many property managers have extensive knowledge and experience in the real estate industry, and they can provide valuable advice and guidance on issues related to yo…

Routine property inspections are an important part of managing a rental property to ensure the value of that investment is protected. They help you keep track of the condition of the property and ensure that tenants are taking proper care of it. Here is a guide to help you manage routine property inspections: Schedule Inspections Regularly: Schedule routine property inspections at regular intervals, once every 3 to 6 months. This will give you a chance to assess the condition of the property and make note of any issues that are found and to sch…

Finding great tenants can be difficult and when you find a good one, keeping them is even more important. Long-term tenants provide stability and predictability, reducing turnover costs and minimizing the amount of time that units are vacant and need to be advertised. Here are the best ways a landlord can get and keep long-term tenants: 1. Offer Competitive Rent: Rent is a significant factor for tenants when choosing a property. Offering competitive rent that is in line with market rates will make your property more attractive to tenants. 2. M…

Spring is a crucial time for rental property maintenance, especially after a harsh winter of cold, damp weather. With the changing weather and warmer temperatures, tackling any issues that started over winter is a great way to start the season. Spring cleaning should include both the interior and exterior of the property, including windows, siding, hvac traps, the roof, A/C units just to name a few. Let’s dive into the comprehensive list below. 1. Roof Maintenance: Schedule a professional inspection of the roof to assess its condition and mak…

Full service property management refers to a comprehensive approach to managing a rental property. This type of management includes a range of services designed to help landlords and property owners effectively manage their investments. This typically includes advertising the rental property, screening tenants, collecting rent, handling maintenance and repair requests, and ensuring that the property is in compliance with all local, state, and federal laws and is ideal for landlords and property owners who want a hands-off approach to managing t…

It All Starts On The Inside A helpful guide from Blue Door Residential Property Management & The Norman Home Team of Keller Williams Gateway. This is part one of our series on the winter maintenance checklist focusing on the interior of the home. As the colder temps have arrived, now is the time to work through your winter checklist to ensure your investment property stays in tip-top condition. Winter is one of the hardest seasons on our properties in Maryland because of the freezing and thawing that occurs all winter long. Any open cracks…