Investments in Baltimore real estate, whether they are residential or commercial, often represent significant dollar value of one’s assets. However, unlike other valuable investments, such as buying coin collections or rare postage stamps, the value of your property investment has many more ways to depreciate – unless owners exercise appropriate amounts of diligence. And that diligence is only available through the efforts of a seasoned Baltimore county property management professional.
Most property investors in Baltimore county, and the surrounding regions, enter property ownership with eyes wide open. For instance, when you buy a multi-unit rental property, you’ll likely be mentally prepared to field some tenant requests and complaints. Someone might require a faulty light bulb replaced, or another may need a leaky faucet tended to. That’s typically not an issue.
However, offering exceptional service to tenants is time consuming, and not every property owner has the expertise to deal with it. Trying to deal with challenges such as these ones listed below, may do more harm to your property value than benefit:
– Regular property inspections: Making sure you anticipate minor problems with the property, both internally and externally, well before they turn into full-blown (and expensive!) issues
– Protecting curb appeal: Unless you have lots of time on your hands, it’s extremely difficult to constantly monitor the external ambiance of your property. Unfortunately, if you wish property values to appreciate, that’s exactly what’s called for. From timely snow removal, to pruning overgrown trees and managing the landscape – it all goes to enhancing curb appeal (and property values) when done right
– Dealing with legalities of ownership: Not every property owner or investor is well versed with property ownership or tenancy laws. An error in “legalese” related to leasing arrangements, improper handling of late rental payments, or an eviction gone wrong. These situations not only expose investors to legal repercussions, but have negative optics, both of which may drastically impact the value of your property
– Investor relationship management: A property with multiple owners often comes with diverging investor expectations. Without a professional, independent, third-party managing those relationships, ownership of the property may cause tension and friction amongst divergent interest stakeholders
An experienced Baltimore county property management service provider helps real estate owners and investors deal with these, and a myriad of other challenges that potentially risk erosion of property values.
If you own property in Baltimore, or within 30 minutes north and south of the Metro area, across Baltimore County, then you owe it to yourself to guarantee protection for the value of your investment. And that “protection” doesn’t come with iron fences or steel gates. Nor do you want to post sentries and guards 24×7 to ensure continued value protection. In fact, real estate professionals, experienced in property management in Baltimore county, deliver value protection through 24×7 TLC!
Whether you own residential rental property, multi-tenant buildings, single-family homes, condos or apartments; or whether your real estate investments comprise primarily of commercial spaces, they all require diligent tender loving care and attention.
And that’s exactly what we, here at MH Property Management, have consistently delivered to each of our clients!