As any Military family in Lexington Park can attest, a Permanent Change of Station (PCS) move is laden with tough decisions. If you happen to be a military family that has a mortgage with your name on it, this type of transition can come with a lot of anxiety. To sell or not to sell, that is the question. With the consistent influx of renters to Patuxent River Naval Air Station holding onto your property in St.Mary’s or Calvert County could be a financially rewarding decision. A decision that can be simplified by using Real Property Management Gold.
There is a litany of things to consider when you embark on this adventure, and Real Property Management Gold will do the research and ensure due diligence in order to avoid many of the common pitfalls that can bestow investment property owners.
Real Property Management Gold takes the time to research your tenants and secure a legally binding lease agreement. This is paramount to your success. There will always be an element of chance when you choose to rent out your home, but Real Property Management Gold has proven systems and staff in place to handle any situation that arises.
While there are many aspects of renting out your home that will happen simultaneously, RPM starts with ensuring complete compliance with the law. We are fully trained in ensuring that the Federal Fair Housing Act and Maryland State Fair Housing Laws are followed. We also ensure all funds associated with your home are accounted for in separate bank accounts. RPM also employees a full accounting department that is overseen by a CPA.
Real Property Management Gold will ask you a series of questions to ensure you get what you need out of your rental property. Some of the common questions we typically ask and provide guidance on include. What length of lease agreement are you willing to offer? Is there the opportunity for your tenants to renew after the initial lease expires? Will the rent include utilities, yard or pool care? What is your pet policy? What are your required security deposits and smoking policy? What date will your home be available?
Setting the proper rental amount is an important facet that requires thought and research. Several aspects typically come into play when making this decision. These include the amount of mortgage payment, the existence of homeowner association fees, and the requirement for contracted maintenance. Research prevails in this department. Real Property Management will run a 3rd party rent estimate reports and take all factors into consideration when assisting you in deciding how much to rent your home for. We understand this can be an emotional decision for a lot of homeowners and pride ourselves on being able to assist in a professional manner.
Finding prospective tenants is where the magic happens. Real Property Management Gold Markets your home effectively. This usually affords us the opportunity to screen multiple prospective tenants and place the best match into your property. We work with every client to ensure implementation of a customized marketing plan that meets the needs of the property is implemented. Our average vacancy on a home is 26 days. Our Gold Plan Guarantees your property will have a qualified tenant with-in 30 days.
It is a common belief that if you are renting your home you do not need to be fastidious when preparing your home for tenants. In order to make the rental process easier, Real Property Management Gold will do an initial inspection of the property to ensure it is “Rent Ready” before putting it on the rental market. A thorough inspection is not only important when selling your home, it is also a method to attract the perfect tenant as well.
Real Property Management Gold begins the screening process by having prospective tenants fill out a rental application that authorizes us to perform a credit and background check on all tenants over 18 years of age. We also ask for a photocopy of their identification and utilize references from previous landlords. This significantly lowers risks to RPM and the property owner.
Once the hard work has paid off and RPM has a screened tenant that is ready to sign a lease agreement, we ensure a state-specific, legally binding agreement which has been professionally reviewed by our Corporate and local Maryland Attorneys will be used . As a military owner, we can also include a military clause that will allow you or your tenant to terminate the lease agreement in the event of receiving orders.
We also provide a written code of conduct clearly stating what we expect from our tenants and set expectations for access to the property. We conduct occasional walk thorough and inspections to ensure compliance with the lease agreements. This avoids any surprises at the end of the lease.
One of the common fears of being a landlord comes with the unexpected maintenance costs that arise when you least expect them. A technique Real Property Management uses for managing this financial upheaval is we create a maintenance fund that holds an amount aside in an escrow account to handle small problems that arise. This allows for quick and cost effective resolutions to any maintenance issues. We also ensure that you are contacted before any repairs over 300 dollars are completed.
The wonderful thing about military life is there is always someone who has gone before you. This is a perfect opportunity to utilize your military network and ask your friends and colleagues if Property Management is the right solution for you. See a testimonial from one of your military clients here.
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.