5 Property Management Tips for Landlords

Taking the leap into managing multiple properties can be daunting! Dealing with renters, lease agreements, and repairs requires time and energy. At CR of Maryland, we help new landlords protect their investments. Get started with these five property management tips for landlords.

Five Recommendations for Landlords

  1. Build Relationships with Home Service Providers.
    Negotiate bulk contracts for annual services like HVAC maintenance or on-call access to plumbers, cleaners, or electricians. Make a property care plan for the year and schedule service providers in advance. If you decide to invest with CR of Maryland, we offer a full-time maintenance staff that is available 24/7.
  2. Make Repairs Quickly.
    Responding efficiently to tenant problems will build trust, and it will help you avoid temporary fixes by the property’s inhabitants. CR of Maryland’s properties are carefully selected and renovated before they are sold to an investor.
  3. Keep Learning and Networking.
    It’s important for landlords to get involved in the real estate market to learn about new tools for property management, where to invest, and what their typical renter profile looks like. Join CR of Maryland’s VIP List to keep learning with us!
  4. Conduct an Inspection Every 6 Months.
    In Maryland, landlords can inspect the property twice a year, with at least 24 hours notice. Consider hiring an external inspector, or at a minimum, document feedback on the state of the property. CR of Maryland has extensive local knowledge and vendor relationships that can help.
  5. Invest in Retaining Agreeable Tenants.
    At CR of Maryland, we know relationships matter. If you have a great rapport with a reliable renter, make sure they know you want them to stay every year! Ask for their feedback on how to improve the property and make an upgrade related to their requests. Even simple improvements over time, such as an updated appliance or more closet shelving, can make tenants want to stay longer.

Getting started as a landlord is a challenge, but you’re not alone. CR of Maryland can be your partner, providing full-service turnkey property renovation and rental management with the highest ROI in the industry. Let us manage your property.

Join our VIP List and learn more about turnkey real estate investing. If you want to own and rent houses without handling the day-to-day concerns of a landlord, contact us now

 

Alexander Cruz

Owner/Partner

Alexander, a Baltimore native, began his real estate career in 2011 following his graduation from West Virginia University. Often referred to as Xander, he quickly developed a keen interest in real estate investing. He played a pivotal role in the foundational growth of CR of Maryland, positioning it as a leading Residential Investment Company in Baltimore. Presently, CR is a company of 35 employees. The company manages a portfolio exceeding 500 rental properties and is on pace to renovate over 140 properties in 2023. Throughout his journey, Xander undertook various roles, contributing significantly to the company’s growth. Currently, as...Read More