Why Renting Out an Investment Property is Better Than Selling?

People buy an investment property to earn money by hiring quality tenants, but sometimes the situation doesn’t go as their expectations. They face many difficulties while managing their property. Not every landlord invest in an investment property to keep tenants in the property and earn ROI but they can sell it at double price to other in future or some buy it for their personal use. When they unable to manage the property then they opt for selling the property.

Selling a property is good at many circumstances but renting out an investment property is far better than selling the house, you can opt for renting out your property if you are confused with whether to sell or rent out your investment property. There are different situations when you can sell your property like:

You are moving to other state or country.
You are unable to manage your rental property.
There is no one to take care of the property.
You want to buy a new rental property in another city.

If any of the above is your case then, you can sell your property but if not, then you should rent out your property. There are many benefits of renting out a property. Counting the benefits will help you to decide whether you should rent out your property or sell it.

extra income landlordssolutions
Extra Income

Extra income
when you rent out your property then you also set a rental charge for the house which you take from the renters. For occupying space in the rental property the tenants have to pay rent and this becomes your extra income. You can hire quality tenants and earn extra income in the form of rent.

property maintenance landlordssolutions
Property Maintenance

Property maintenance
You don’t need to worry anymore about the property maintenance as the tenants will take care of the property of their own. When someone lives in a property they take care of it like their own and that’s why your tenants will also maintain your property once you will be done with all the repairs and maintenance issues then they will keep up with the maintenance. Hire Professionals to Manage Your Property and Increase Its Value

safety and security landlordssolutions
Safety and Security

Safety and security
An empty house is just like the invitation to thieves and criminals. They generally target vacant places so, you can now save your house from that when you will have renters in your rental property and enjoy cash flow in the form of rent from the tenants.

You can sell your property but before that, you have to do lots of things and renting out your property helps you to earn extra income on monthly basis. And for this, you can hire property management company who can help you to manage your property and also hire potential tenants who will pay rent on time.

Important Steps to Take before Listing Your Investment Property For Sale

When a landlord fails to manage a property or just get tired of handling tenants complaints, then he opt for selling his rental property. This is actually one of the best ways to get rid of tensions and worries that bothers the landlord during the tenancy period. So, if you are too having issues with your tenants and don’t have anymore patience to deal with the tenants then selling your Bel Air, Maryland rental property. There are many situation when you can sell your investment property like: when the market get slower, you are unable to find the quality tenant, damaged property, unable to manage property, etc. So, you should sell your property on-line where you can get potential buyers and get good price. But before you list your investment property for sale there are many important steps you need to take:

repair home landlordssolutions
Make necessary repairs

Make necessary repairs
Your buyer can ask you for making repair if he find something damaged or will ask you to lower the price. This will also make a bad impression so make necessary repairs if needed to get a good amount for your rental property.

coordinate with tenants
Coordinate with your tenants

Coordinate with your tenants
Well, you have to talk to your tenants about selling your property otherwise you have to wait till the lease agreement has expired. And if you cannot wait till that date then, you should sit and talk about selling your property with your tenants. In fact, you can ask them if they would like to buy it or they can find another property.

photo click of property
Take pictures of the property

Take pictures of the property
Before Listing your property you must take the best and attractive pictures of your property. These pictures will help you to get the attention of the buyers. You can hire professional photographer for this they can use good camera for taking picture of the house. But ensure that your photographer has taken the good picture without using fancy lenses and weird angles so that you can show your buyers the real house.

property document
Gather important documents

Gather important documents
Make sure you have the all the legal documents and papers of your house that you have got at the time of purchasing and the papers that proves you are the owner of the house and also that your property is legal.

property agent landlordssolutions
Hire an agent

Hire an agent
Hiring an agent will help you to find the right buyers for your property. Well you can also hire property management company as they also know about some people who are interested in buying properties and ready to pay a good amount.

Why to Consider Property Management Company?

Prominent Advantages of Hiring property Management Company

Remember all these steps before listing your investment property for sale and sell it at best price by finding potential buyer.

Tips to Find Quality Tenants in Anne Arundel County, Maryland

Every landlords want to have a peaceful mind while managing their rental property and that can be only possible when they will hire the right and high-quality tenants for their rental property. A potential tenant not only take care of your rental property just like their owns but also never put you in trouble by calling at mid-night for complaining of leaking faucet or anything. You can sleep soundly without any worries and tensions. But the problem is finding a quality tenant for rental property. If you are too looking for potential tenants for your rental property in Anne Arundel County, Maryland then you have to do research and also need to have lots of patience. Finding quality tenant is not an easy task so here are some easy tips for you to find the quality tenants in Anne Arundel County, Maryland:

One of the best way to find potential tenants is to advertise your Anne Arundel County rental property. Without advertising people would never come to know about your vacant rental property. And you must advertise your property with all the amenities tenants will going to have. Use both the mediums online and offline to advertise your property.

Use formal application form
Professional property management companies uses formal rental application form to be filled by the tenants. With this form you can collect the personal data of the applicants who are interested in living in your property. And you can use these data for further inquiry.

social media landlordssolutionsUse social media
Now people are very much active on social networking sites. And it is one of the best platform to advertise your property or connect with people. You can ask your friends if they know someone who is looking for a rental property in Anne Arundel County and you can also find potential tenant through social media.

Screening tenants
Screening tenants is very much important to hire the most potential tenant for your rental property. You don’t want to encounter with a bad tenant that do not pays rent on time and always make complaints rather you just want a tenant who is employed with good earnings so that he can afford the rent and pay it on time. After advertising your property and getting filled application form from applicants you should start screening process. You must do background check, credit history and also check criminal records. You can also contact the landlord to know about his experience and also ask would he like to keep him as a tenant again?

tenant screening landlordssolutions

Managing property and finding a potential tenant is not only tough but time consuming and expensive process also. Therefore, you must take professionals assistance for this and hire property management company in Anne Arundel County, Maryland to manage your property. Whether your rental property is in Anne Arundel County, Baltimore or anywhere in USA can be managed well by professional property manager.

How Can You Be a Good Landlord?

https://www.landlordssolutions.comThere is a big difference between being a rental property owner and a landlord.  Anyone that owns a rental property is technically a landlord, but being a good one takes a special skill set.  There is more to the job than just waiting by your mailbox to collect rent checks. If you are new into this business then you should know what your role is being as a landlord and how to be a good landlord. You should always adopt good changes to be a good landlord after all good and higher quality tenants also look for a good landlord who can listen to him and be friendly so that they can stay longer in the property. So, here are the qualities of a good landlord that you should definitely adopt to build your business.


Be Professional

Many tenants fail to pay rent on time and it is obvious that they will look for a landlord who will allow them to make late payments but you should be professional as this is your business so you should collect the rent on the due date.

Be a Good Listener

Tenants always have problems to share, so they want a good landlord who can listen to all his problems and fix it as soon as possible. They might have problem because of the noisy neighbors or the dog that barks all over the night. So you should listen to them always and be also ready to solve the problems.


Ability to Sense Issues

It’s not necessary that your tenants will only let you the problems facing by them. Being as a good landlord it’s your obligation to look into the things that your tenants are going through in your rental home. Small problems soon turn into big problems so you should sense such issues as early as possible and fix it also.


Inspect Home

You must inspect the property from time to time so that you will be able to keep your property maintained. It is not, that you have hire renters then you don’t need to look into your property, in fact then your responsibility even doubles after hiring tenant. So, inspect your property both interior as well as exterior also.

Be Fair and Reasonable

When your tenant would ask for a job to be done, then it should be completed within a given time frame. You should hire a professional for this, if you are unable to fix things then don’t even give a try to it. For the tenants also they should give time to the landlord to get the problems sorted.

https://www.landlordssolutions.comBe a good landlord and make more money of your investment property. For managing your rental property Baltimore, MD you can hire professional property management company in MD. They are professional and will handle everything professionally to provide you a good landlordship experience with higher quality tenants.

Related Article – Ways to Find the Right Tenant for Your Rental Property

Land Lords Solutions

Can You Afford Property Management Services?

https://www.landlordssolutions.comPeople buy the investment property to make the profit but sooner they start facing problems in managing the property. Managing a property is an easy task there are many things that you need to do when you buy an investment property such as makes repairs if needed, find the tenant, keep the property maintained etc. These are time-consuming tasks which require your full time and efforts too. Hence the last option is to hire property management company.

The hiring property management company is very much beneficial but is difficult for some people to hire them because of their high charges. Well, a renowned company would definitely charge you the high price but will also provide you complaint-less services. You will never ever complain about their bad services as they are experienced and will give you no chance of complaining. Property managers know how to keep a property well managed but not everyone can afford them. They work in best ways to make your property look much more attractive. They have skilled team members that are trained enough to keep your property maintained.

It is often seen that people always ask about the charges first to the property management company to know whether they can afford them or not. There are many things that are considered while determining the charges of residential management companies. Hence a property management company will itself tell you the actual price of their fees/charges. Though they come a bit expensive, they assure you a complete and well property management services. But still there is a question-mark, that can you afford a property management services?

https://www.landlordssolutions.comThe charges of a property management company depend on many things as they provide you many services like managing your property, finding right tenants, screening of the tenants, make repairs, inspect the property and much more. Well, a reputed property management company charges some percentage of the monthly rent and will bill you the repairs to your home. Suppose you are the rental charges of your investment property is 100$ then they will charge you 10$ as their fees and I don’t think that is too much that you cannot afford. So, it is now up to you that what you will do, whether you will hire them or not.

A power point presentations Property management landlords are shared with you all hope you all liked it.

Related Blogs