Owning rental property in Howard County, MD, offers exciting opportunities for investment and passive income. However, managing those properties effectively can be a demanding task, especially with busy schedules and complex regulations. Partnering with a qualified property management company can alleviate these burdens and ensure your investments flourish. However, navigating the landscape of numerous companies
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As a property owner or landlord, your responsibilities go beyond rent collection. It entails ensuring that your property remains habitable and appealing to potential tenants. Effective management of rental properties can generate passive income, and a vital aspect of this is budgeting for property maintenance. Deferred maintenance refers to postponing necessary property repairs, often as
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Tenant turnover is one of the highest costs for Anne Arundel County landlords, which can greatly affect their overall ROI. However, when you learn how to reduce tenant turnover, you can earn more from your rental property year after year. What is tenant turnover, exactly? Tenant turnover is when tenants move out of a rental
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As a Maryland landlord, navigating the waters of a tenant breaking a lease can be complex and challenging. A tenant who wants to break their lease prematurely can create confusion and financial stress. This becomes an uncomfortable situation for everyone involved. To help relieve that stress, let’s delve into the practical steps you should take if
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Being a landlord in Maryland can present its fair share of challenges. As a landlord, you must balance the rights of your tenants and the rules of law. One law that landlords should be especially aware of is The Fair Housing Act (FHA). Enacted in 1968, the Fair Housing Act is crucial legislation designed to
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The 1031 exchange, a like-kind exchange, allows property owners to defer capital gains and depreciation recapture taxes when selling an investment or business property and replacing it with a “like-kind” investment. Although the process is complicated, knowing how to use this tax deferment strategy can fund more investments, making it an essential tool. What is
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Don’t miss out on great investment opportunities by only sticking to your local area. Learn how to manage out of state rental property.
Owning a small multifamily property in Prince George’s County can be daunting, especially if you’re a new landlord or don’t have experience managing that type of property. Instead of just one, you’ll now have two to four new units to fill, manage, and maintain. If this is the case, you’re in need of some tips
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Whether you are a new landlord in Montgomery County in Maryland or are still debating on working with a property manager, you probably have a goal to increase tenant retention. Having your current tenants renew their leases and live in your rental property for another year or two is one of the best ways to
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