Skip to Content

Selecting a Good Rental Property in Southern Maryland

Investing in rental property can be a smart move if you make smart decisions. When you’re buying a rental property investment, remember that your decision today will affect how you manage the property tomorrow. If you’re still in the purchasing process, you can make decisions now that will determine how long your property stays vacant, how many applications you’ll attract, and the kind of tenant who will be interested in your property.

At Real Property Management Gold, we understand the importance of successful leasing and management. We know it starts with the buying decision. There are a few things to consider when you’re selecting the right investment property.

How to Invest in Property: Location Matters

This is real estate after all, so location matters. It plays a critical role in the amount of effort required to manage the property. Not all markets are created equal. Look in neighborhoods that have lower vacancy rates, higher rents, and appreciating values. This is where local expertise is particularly important. Consider how good the schools are in the area, and whether there is public transportation, shopping, and recreation nearby. You also want to think about municipal regulations and different ordinances that exist for landlords. Some towns levy heavy fines for violations while others are less stringent. Experienced investors know this makes a huge difference. HOAs have their own fees and regulations as well, and those can add more time, cost, and hassle.

Real Estate Investing: Property Details

Once you’ve chosen a good location, look at the details of the property itself. With more families seeking to rent long term, long for single family homes that support a family lifestyle. Three bedrooms and two bathrooms are ideal, and a fenced yard. Fewer customizations and a home less than 15 years old will help you keep maintenance costs down and attract tenants. Avoid small or quirky layouts, unfenced yards, and busy streets which can turn off prospective tenants. Avoid older homes as well. They are more expensive to maintain.

If you are in the process of buying a rental home, consider your purchase from a property management perspective. You and your property manager will be glad you did.

We are happy to help. If you have any questions about buying an investment property, or you’d like to hear more about real estate investing, please contact us at Real Property Management Gold.

 

 

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.

The Neighborly Done Right Promise

The Neighborly Done Right Promise ® delivered by Real Property Management, a proud Neighborly company

When it comes to finding the right property manager for your investment property, you want to know that they stand behind their work and get the job done right – the first time. At Real Property Management we have the expertise, technology, and systems to manage your property the right way. We work hard to optimize your return on investment while preserving your asset and giving you peace of mind. Our highly trained and skilled team works hard so you can be sure your property's management will be Done Right.

Canada excluded. Services performed by independently owned and operated franchises.

See Full Details