5 Reasons to Hire a Property Manager for Your Baltimore Rental Property

Did you know the median listing home price in Baltimore was $209,000 in March? That’s up 10% compared to a year prior. 

If you buy an investment property, consider hiring a property management firm to help with landlord duties. Otherwise, you’ll be on call 24/7. You could do it independently if you don’t mind stretching yourself too thin. But your experience as a rental property owner will flow more smoothly if you have assistance from a third party who knows the ropes. It’s also vital to find one located in close proximity to your investment property. So, if you have a property in Fort Worth, you need a Fort Worth property manager.

Here are five reasons to consider hiring a property management company for your rental property in Baltimore.

1. You Need Help Maintaining Your Property 

Performing the proper upkeep on your investment property is a full-time job. You need to do regular maintenance and repairs. And the more faithful you are with maintenance, the fewer repairs you’ll have to do. A property management firm will help safeguard your investment property so that it continues to grow in value and meet the needs of tenants.

Renters have options, so you can’t expect them to rent out units in properties that are poorly maintained or lacking in repairs. It’s in your best interests to stay on top of things. A property manager serving rental property owners in the area can do the heavy lifting so you don’t have to.

2. You Need Help Finding Tenants

Many rental property owners look forward to the monthly rent their tenants pay. But if you don’t find reliable tenants who take care of your property and pay their rent on time, the flow of passive income might slow down and stop altogether. 

A property management firm, however, will increase the chances of you finding good tenants who don’t cause problems. Finding good tenants takes a proven approach. Property managers screen applicants by conducting various checks to look into everything from credit scores to employment histories. By so doing, property managers can find the cream of the crop amongst the applicants for tenancy in your investment property.

3. You Need Help Advertising Vacant Units

If tenants leave after their leases are done, you’ll need to fill these vacancies. The longer you’re unable to fill vacancies, the longer you’ll go without rental income from those units. A property management firm will help advertise your available rental units to attract qualified candidates. You’ll get those vacancies filled sooner with a property manager than if you look independently.

4. You Need Assistance Providing Customer Service

Another reason you need a property management firm for your investment property is to offer customer service. Good tenants are hard to come by. So, after they pass the screening process, get the keys to the units, and prove themselves by paying rent on time, you must retain them. If you offer landlord services yourself, you may find it hard to serve tenants.

But if you hire a property manager, your tenants will get the high level of customer service they deserve. Tenants want to be able to speak to the landlord if they have questions, need assistance, etc. If you don’t have the time or desire to be a landlord, you can hire a property manager to be the landlord on your behalf.

5. You Need Help Dealing With Difficult Tenants

While property managers are good at finding quality tenants, sometimes good tenants go rogue. You may need a service provider to follow up on tenants who are late with rent, cause problems with other tenants or neighbors, or don’t treat your property with respect. A property manager can handle these situations and, if necessary, help you start an eviction process.

If you have a rental property, a property manager can help. The five benefits mentioned above are but a few reasons to consider retaining the help of a property manager for your investment.