With more than a dozen colleges and universities in the Baltimore area, thousands of college students are looking for housing from property owners like yourself. But, it isn't just the college kids who are looking. Young working professionals comprise nearly a third of Baltimore's population. They need housing too.
Having such a wide pool of prospective tenants is great, but it also means that much more work to market to and screen tenants before placement. Great rental property management Baltimore companies should handle all the work for you, but how do you decide which one to work with?
In this post, we'll go over a few tips to keep in mind in your search for the right property management company.
Ask For Referrals
If you have any real estate investor friends or family that invests in homes for rent, ask them for referrals. They have likely hired property managers for their real estate.
People who have a good time working with rental property management companies will likely advertise them through word of mouth, anyways.
Another person to reach out to for rental property management recommendations is your real estate agent. They are likely to be well-connected in this industry.
Check Their Track Record
Ask for referrals, but don't just take people's word for it.
You can check the track records of the recommended rental property management Baltimore companies online via Maryland's Real Estate Commission (MREC).
You can also perform a quick search of the property management company on Better Business Bureau. If they are a trusted and reputable company, clients will rave about them online. If not, you may find complaints from unhappy previous clients and unresolved issues.
Do a Thorough Vet
Whether you are investing in company real estate or you have homes for rent, you are the client and you hold the power to choose which rental property management Baltimore companies to go with.
Be thorough during your interview and see if they are fit to serve your rental property management needs.
Questions to Ask
The questions you have may differ depending on your specific property. However, here are some examples of good questions to ask to help you cover your bases.
- What certifications and licenses do you have?
- Do you have specialized experience with certain rental properties like commercial real estate?
- How large is your staff?
- How many clients are you personally managing?
- What is your placement and management fee?
- How long does it take you to place a tenant?
- What is your vacancy rate?
- Will you handle court proceedings in the case of a tenant eviction?
- How will your company handle tenant emergencies and concerns?
Before you sit down to meet with potential rental property management candidates, jot down any questions you can think of. How prepared these candidates are in answering your questions (or not), will tell you how well they will manage your property.
The Best Rental Property Management Baltimore Company
Whether you're new to property investment or you're looking for trusted rental property management Baltimore companies to choose from, we're your go-to company. We help manage over 13,000 investment properties valued at over $2 billion, and we can help you, too.
We handle property marketing, tenant screening and placement, property maintenance, and rent collection on your behalf. We take care of all the details so you can focus your attention on the things and people who matter.
Have any questions about your property? Give us a call!