Maryland continues to be an attractive location for turnkey real estate investments. Kensington, MD is a 25-minute drive from Washington DC – the perfect place for political staffers and others whose work brings them to the capital. The latest figures show that rents in the region are continuing to rise.
If you’re thinking about real estate investments in this area, it’s crucial to find the right property manager. A property management company can help you achieve your goal of earning a genuinely passive income. At the same time, they help to protect the value of your assets.
Let’s explore 6 tips that can help you find the right property management business near me.
1. Look for Licenses and Affiliations
Licensing laws for property managers vary from state to state. Currently, in Maryland, there is no licensing requirement for property managers. However, many property management companies form part of a licensed real estate brokerage.
Look on their website for their Maryland license number. You can enter the license number on the Maryland Department of Labor website to check that their license is up to date.
This can give you peace of mind that you’re working with a legitimate company. Also, look for affiliated companies and local associations that they are a part of.
Are they members of a local business association? This shows a commitment to community development. In this instance, the local association is the Kensington Business District Association (KBDA).
2. Check Out Their Range of Services
If you’re looking for turnkey real estate investments, it makes sense to work with a full-service brokerage.
When you work with the best real estate agents in Kensington, you’re tapping into a wealth of local knowledge and experience. They can help you to find the right local homes for sale that make financial sense as investments. They can provide expert advice on local conditions for landlords.
This can help you to maximize your yield. Look for a company that understands the four aspects of yield, namely:
- Cash flow
- Principal reduction
- Tax savings
- Appreciation in value
Real estate agents in Rockville can also help you to arrange financing for your investment property. But the best brokers in Bethesda, MD go further. They also help you periodically review your investments.
Maybe you’re wondering how to sell your home, or whether selling your home now would net you the best returns. The best real estate agent near me is the one that can help you make the best decisions in these situations.
3. Choose Turnkey Investment Specialists
Do you want to plunge into the Chevy Chase real estate market without getting your hands dirty? You need to work with a property management company that truly understands the process.
They’ll help you to find the right turnkey investment. Then they’ll handle everything from tenant screening to property management.
There are huge advantages to investing in turnkey properties. There are no major renovations to consider, so you can keep a tight rein on expenses.
Plus, it will meet the latest standards of energy efficiency and building codes. This allows you to command the best rent as you are providing a high-spec, move-in ready home for your tenants.
4. Ask for Referrals
There’s nothing like a personal recommendation from a trusted friend.
Find the right property manager and it can be a fruitful relationship that lasts for years. By talking to people who already have years of experience working with a company, you can rest assured that you’re making the right decision.
Ask each property management company you consider for testimonials or customers that you can contact. Also, check out online reviews. They’re not quite as good as personal referrals, but you can usually get a good overall idea of the company from them.
Remember, it’s not just you who’ll be dealing with them for years to come. Your tenants will be as well. Be sure to choose a company that prioritizes customer service and gives your tenants the attention and respect they deserve.
5. Transparent and Comprehensive Contracts
Property management covers a lot of bases, so expect a comprehensive contract. The process begins with marketing the property and tenant screening. Once the rental agreement is in place, they need to care for the property, handle queries, and ensure rent is collected each month.
All of this, and much more, should be included in the contract. Make sure that they provide clear details of both the services they provide and the fees involved.
Regular services include:
- Handling vacancies
- Resolving tenant queries
- Handling evictions
- Rent collection and dispute resolution
- Property maintenance
Before you sign the contract, make sure you know exactly how much you will pay for all of these services. If major repairs are needed, the contract should set out the process for managing these.
Finally, check the termination clauses. The termination procedure and associated costs should be clearly outlined. Also, make sure the contract has a set finish date, usually one year from the date the contract is signed.
6. Legal Support
Being a landlord comes with many legal responsibilities. While a property management company cannot take your place, they can actively support you to meet these requirements.
These include:
- Charging application fees
- Handling security deposits
- Managing lease renewals
- Landlord maintenance responsibilities
- Handling evictions legally
Choosing an experienced Kensington, MD property manager can help you to meet all your legal obligations. This will mean a great relationship with your tenants and fewer costly vacancies.
Choose Brett McCurdy for Kensington, MD Property Management
A turnkey real estate investment in Kensington, MD could be a fantastic way to earn a passive income. But to do this, you need to work with the right property manager. One who can help you find the right home, the ideal tenants, and more.
If you’re ready to talk real estate in Montgomery County, give Brett McCurdy a call.
Brett and his team have extensive local experience and knowledge. They have access to the best real estate investment opportunities and up-to-date statistics. You can feel confident you’re making your investments based on the latest and best data available.
Call Brett at (240) 565-2282 or send an email through this online form today.