Residential Property Management , MD

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Property Management -Montgomery County, MD

• RM Properties

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Property Management Explained

• With the somewhat sluggish economy over the past
  few years, and the accompanying drop in real
  estate values, many individuals, who otherwise
  would not have, saw an opportunity to purchase
  residential real estate and turn it into rental
  property. Many did not, however, have the
  benefits of property management explained to them
  clearly.
• As a result, they went in to real estate
  investment with the idea that property management
  is little more than collecting rent checks from
  tenants. Easy money. But, when the reality sets
  in that it is much more than that, the stress
  sets in as well. Often, it can all be downhill
  from there.
• However, it doesn't have to be. You do not have
  to hire a property manager for your rental. In
  fact, managing your own property is attainable
  and profitable if you remember to apply a few
  fundamentals your property manager is using.
  Another note, despite the fact Montgomery County,
  MD and Washington, DC are hot markets, right now,
  these tips are fundamentalsthey must be followed
  in every market.

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Property, MD
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Carefully Screen Prospective Tenants

• The temptation to rent to the first or second
  prospective tenant that comes along can be a
  strong one. But, you really should avoid doing
  that. Even if, heaven forbid, the unit stands
  vacant for a few months, it's far better than
  renting to John and Mary Deadbeat and winding up
  with all kinds of problems down the road.
• Actually, a unit being empty for a short while
  can be a good thing because it gives you the
  chance to properly take care any items that need
  repair, paint, or cleaning. The more pristine a
  unit is when a new tenant moves in, the better
  for both of you, and the better prepared you will
  be for the pre-occupancy inspection. Your
  property manager lives and breathes by the credit
  report of prospective tenants you should, too.

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Rental Property
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Conduct a Careful Inspection

• One common hassle that individual landlords
  experience is having to deal with damage to a
  rental unit, and who is responsible for the costs
  associated with repairsor, wanting to make the
  repairs.First and foremost, the nagging tenant
  who annoys you with the minor detailsloose
  doorknob, chipped window frame, or squeaky
  windowis the ideal tenant! This means they
  lovetheir homeyour home. These are the tenants
  who leave the home better than you gave it to
  them. Dont dismiss their nagging, instead,
  embrace it.
• Further, haggling with a former tenant over
  security deposit money is one of the most common
  headaches landlords have to face, but it doesn't
  need to be that way. Conduct a joint
  pre-occupancy inspection and take plenty of
  photographs to document any existing issues. You
  should also document these issues in writing, and
  include what has been agreed on with regard to
  these issues. This will go a long way toward
  avoiding problems down the road. Recoup repairs
  in the next rent, not from the Security
  Deposityou want to save those funds from after
  move out.

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• Of course, many investors want to be in the
  business of buy-and-hold real estate, but not in
  the business of being a landlord. Some just have
  too many units to effectively manage on their own
  any longer. Some want to retire to another state,
  but still wish to own them, and thus need someone
  locally watching over their investments. 
• Whatever the reason, if you've come to a point
  where you'd like to "pass the baton", we offer
  competitively-priced professional property
  management services in the Washington, DC area
  and in Montgomery County, MD. Contact us today
  for more information. Property management is
  simple, but hard, as many self-managed property
  owners can tell you.
• A vacant rental can show 50 times. A boiler can
  break on Thanksgiving day. Youll find the time
  involved in residential property management is
  significant and untimely most of the time.If
  youre looking to live your life, and not just
  your tenants, an experienced property manager is
  your answer.

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Call RM Properties

• Montgomery County, MD - [phone]