When you own Baltimore rental properties, you want to make it a profitable venture. Investment properties don't rent themselves or fix their own maintenance issues! Someone has to do the critical tasks to make your rental homes a success—but that person doesn't have to be you.
Who else can you trust with your assets and long-term income? The right Baltimore property management company can be the best partner to manage your properties, renters, and boost your wealth! However, finding the right company isn't easy!
What traits do investors need in the right property management partner? Our team at Rentwell® is the best—and here's why!
We Set the Right Rental Price
Setting the right rental price is one of the essential principles of aligning a Baltimore rental property toward success—but 'picking' a price that seems right can cause you to lose valuable income.
A high rental rate isn't always best.
You might hope to make more money by pricing your rental at the higher end of the competitive local rate, but doing that can leave your property vacant for days, weeks, or even months.
Baltimore renters are smart: they won't overpay for a property that isn't worth the rental price.
However, setting the price too low will also cost you some profits! You might find a new renter faster, but you'll lose money every month when you underprice your property.
Experts Help You Get It Right
The Rentwell team knows the ideal rate for your rental property—but it requires some work to find that price! We use rental market research, our industry experience, and local knowledge to determine the best rate for your rentals. When you start with the right price, you attract better quality renters and generate the income you need to build your long-term wealth!
What happens if things change, and the price for your rental is no longer enough to cover expenses and bank a profit? Property expenses can change as tax rates change, or the cost of maintaining the property increases over time. With expert Baltimore property management, you have a partner who monitors rental rates in your area and evaluates the price of your property compared to your ongoing expenses.
When it's time to change the rental rate, we apply the right strategies to make sure you keep generating a profit while retaining your renters! Investors never have to worry about setting the wrong rate. We've got it covered!
We Provide Critical Ongoing Care
If you have even a small amount of real estate investment experience, you know that success requires more than helping a renter move in and then focusing your efforts on rent collection every month. Baltimore rental properties need plenty of hard work year-round to stay in excellent condition and keep residents happy!
Ongoing critical property care and renter management is another essential part of finding success as a property investor. However, many Baltimore property owners don't have the time to do this part of the job—and that's okay! With a property manager, you don't have to handle ongoing maintenance issues or resident requests. Your property manager is available and experienced in these areas!
Your Property Needs Expert Maintenance and Routine Inspections
We don't wait until something goes wrong before we visit your rental property. Our system of routine inspections helps us keep an eye on investment properties (and your high-quality renters) throughout the year. When we are proactive about knowing your property inside and out and looking for potential repairs and maintenance issues (before they become one), your properties stay in excellent condition—and your renters are happy!
Why is this important? Happy renters renew their lease! Poorly-handled property maintenance is one of the leading factors that cause renters to leave after their lease ends. Residents prefer a Baltimore property management team that keeps an eye on the property, prevent significant maintenance problems before they occur, and responds quickly when an emergency happens—even after hours.
With Rentwell® property management services, property owners get the best professional property maintenance in the area. Every property receives:
Preventative seasonal property maintenance
24/7 availability to respond to resident requests
Vetted contractors to provide quality repairs and maintenance
Routine scheduled inspections, including move-in, move-out, and mid-year property reviews.
Poor maintenance is the top area where investors can lose money. Any local teams you work with must prioritize maintenance requests to ensure your success! It can't be an afterthought or additional feature that isn't part of their standard operating procedure.
If you want to improve resident retention, the value of your properties, and your income, choose a property manager that understands the importance of being a well-oiled property maintenance machine!
We Help You Save Money
How does paying for property management services help save money for property owners? If you've been putting off property management to save money by doing everything on your own, you might be surprised to learn that a property manager can help improve your bottom line.
Consider the value of your time: You might not pay someone to fix a plumbing issue at your property, but how much time are you spending doing it yourself? If you have multiple properties, you could spend a significant amount of time fixing maintenance issues, responding to residents, and taking care of the daily tasks required for a successful investment property business.
Property management is a time and money saver for investors. If you work full-time, then spend nights and weekends dealing with your Baltimore rental properties, you owe yourself a break! When investors hire a Baltimore property management team, they experience:
Reduced expenses for maintenance
Better rental fees
Financial reporting to monitor success
An additional tax benefit.
Did you catch that last one? Hiring a property manager means you can deduct their fees when it's tax time! Full-service property management is a professional service for your investment business. Not only do you benefit financially from the expertise of your property manager, but you also have another deduction to improve your tax situation at the end of the year.
Your time is valuable, and your long-term financial goals depend on how well you manage your properties now. If you're not sure 'how' valuable your time is, think about what you'd rather do with your free time—and how much time you spend working your rental properties. Professional property management is one of the best ways to increase your rental income, reduce overall costs, and see better profits from your properties!
It's Time for the Best Baltimore Property Management!
Choosing the wrong Baltimore property management company won't help you save time or money. It should never be a hassle to work with a property manager.
Baltimore investors need the best property management team to ensure your investment success! The Rentwell® team works hard to be an asset for investors. We prioritize property maintenance requests, resident management, and apply every bit of our experience towards your income and expenses to boost your bottom line.
Rentwell® keeps our eyes on your properties—and your future as a property owner! Real estate is a long game. However, making the right changes and applying best practices now can improve your long-term financial outlook. Through our innovative approach to property management, we offer excellent customer service, efficient systems, and responsible growth processes for every property in your portfolio.
If you're ready to take back your time and see better profits, contact us to find out how we can help!
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4115 Wilkens Ave, Suite 200, Baltimore MD 21229