Archive for the ‘Rental Management’ Category

Timely Repairs are possible with your Landover Property Management Firm

Friday, January 11th, 2013

rental property managementAs a landlord, you have a legal obligation to keep your rental property or properties habitable. This means making timely repairs and conducting regular maintenance to keep the rental property or properties in tip top shape.

The definition of a habitable property is one that “has adequate heating, water, electricity, cleanliness, and is structurally sound.”

If you fail to repair any problems after receiving a request from your tenant, several things can happen:

1. Your tenant can elect to withhold rent until the problem is properly dealt with.

2. If the repairs are not done in a timely manner, your tenant can opt to hire an outside contractor to make the necessary repairs. The cost of these repairs will be deducted from the rent.

3. If the problem in question violates and state or local building or health codes, your tenant can opt to report you to the local authorities. This could result in a work order, heavy fines, or other penalties.

4. If the problem in question is not repaired in a timely manner and affects the livability of the rental property, your tenant could opt out of his/her lease without warning.

Rental Property Maintenance Tips

1. Heating and plumbing problems should be dealt with as soon as possible, typically within 24 hours after the issue was reported.

2. All other problems should be dealt with within 48 hours after the issue was reported.

3. Remember, as a landlord you should always give advanced notice (24-48 hours) to your tenants before entering the rental property. You are not permitted to show up unannounced unless there is an emergency, like a fire or flood.

4. Rental property rules differ from state to state and from city to city. So be sure to consult local codes regarding rental properties in your state and city. You can find this information at your local building or housing authority.

Potomac Valley Management: Your Landover Property Management Firm, specializing in the Maintenance of your Rental Properties

At PVMGT, we provide complete maintenance services 24-hour, seven days a week. This means we are available whenever you need us. If a pipe bursts at midnight, we are here. If your HVAC unit stops working at 3am, we are here. Just pick up the phone and give us a call. We take great pride in providing full service property management, from management and leasing to marketing, tenant placement, rehabilitation, and maintenance.

Potomac Valley Management’s goal is to protect the value of your investment by helping to maintain the property to your standards.

Hopefully you have found these Quick Tips & Best Practices useful. If you have any questions, please contact Potomac Valley Management by calling 1.877.390.4090 or visit PVMGT.com today!

We are here to serve you!

You can also follow PVMGT on Facebook, Twitter, LinkedIn, and Google+.

Find Quality Tenants with help from your Bowie Property Management Firm

Friday, November 30th, 2012

As a landlord, it is important to ensure you rent to only the most qualified tenants. This not only affects your business, but also your other tenants. You owe it to them to thoroughly screen all prospective tenants before ever thinking about leasing a property. After all, it only takes one bad tenant to ruin everything for the rest of your tenants.

Remember, it is much harder to evict a problem tenant than it is to weed out the bad seeds ahead of time! And a professional property management firm can help, a firm like Potomac Valley Management (PVMGT).

Tenant Screening Services from PVMGT, your Bowie Property Management Firm

At Potomac Valley Management, our goal is to provide the most comprehensive and professional property management for our rental communities, ensuring a high level of excellence and professionalism to our clients while helping to maximize their real estate investment. As part of this commitment to excellence, we provide the following marketing and tenant screening services.

1. PVMGT will advertise the rental property to ensure complete occupancy.

2. We help secure qualified tenants for occupancy by review the prospective tenant’s credit reports, check rental history, and much more.

And hopefully it never comes to this, but Potomac Valley Management will also handle the eviction process.

1. PVMGT will file court and eviction notices for delinquent occupants

2. We also attend eviction court as necessary.

Hopefully you have found these Quick Tips & Best Practices useful. If you have any questions, please contact Potomac Valley Management by calling 1.877.390.4090 or visit PVMGT.com today!

Potomac Valley Management takes great pride in providing full service property management, from management and leasing to marketing, tenant placement, rehabilitation, and disposition of multi-family properties.

We are here to serve you!

You can also follow PVMGT on Facebook, Twitter, LinkedIn, and Google+.

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Property Management Tips: Rent Collection & Financial Services in Bowie, MD

Thursday, November 1st, 2012

Rent is the life blood of your business. And while it may seem like an easy process, rent collection can be difficult, especially if you run into a problem tenant.

Rent Collection Tips

  • It begins with the Lease: The first step in rent collection is your lease. In this lease you should outline your rent collection policies, define when rent is due, detail late payment procedures, and, heaven forbid, eviction policies.
  • Outline your Rent Collection Policy: Even though your rent collection procedures are detailed in the lease, it is important to explain these procedures to your tenants.
  • Be Consistent: Remember, this is a business. You need to keep your emotions out of it and make sure you remain consistent. You cannot cut one tenant a break or grant them an extension on their rent without doing the same for everyone else.
  • Rent Reminders: If you have the time and resources, it is nice to send tenants a rent reminder before their rent is deemed late.
  • Late Payments: You should have specific procedures and penalties in place to deal with late payments. If you fail to properly act when payment is late, your tenants will never respect your rent deadline and you will continue to receive late payments.
  • Keep a Record: It is important to keep a record of any and all communications between you and your tenants, especially when it comes to rent. These communications could prove useful if you ever need to evict a problem tenant.
  • Late Payment Notices: Send a letter out as soon as rent becomes late, the very first day after any grace period specified in your Lease.
  • Leave the Rent Collection to the Professionals: Luckily, there are property management firms that will handle all of your rent collection needs for you!

Potomac Valley Management: Rent Collection and Financial Services in Bowie, Maryland

At Potomac Valley Management, we serve landlords, like you. It is our job to help you more effectively and efficiently operate your rental property or properties. And one way we accomplish this is through our rent collection and financial reporting services, which are part of our rental management package.

  • Rent Collection: PVMGT will bill renters and track accounts receivable.
  • Financial Reporting: At PVMGT, we present our landlords with comprehensive financial reports, including balance sheets, income statements, general ledgers, accounts payable reports, check disbursement reports, and income and expense budget comparison.

Hopefully you have found these Property Management Tips useful. If you have any questions, please contact Potomac Valley Management by calling 1.877.390.4090 or visit PVMGT.com today!

Potomac Valley Management provides a number of options to provide you with a level of service that is tailored to your needs. We take care of your needs from bookkeeping to tenant screening to landscaping contractor oversight, just to name a few. We provide quality and reasonable services.

You can also follow PVMGT on Facebook, Twitter, LinkedIn, and Google+.

 

Finding Tenants in Landover, MD :: Benefits of Property Management Firms

Friday, September 28th, 2012

When it comes to landlording in Landover, Maryland, one of the hardest tasks you have is finding good quality tenants to fill your rental property. This is not only important to ensure a good tenant-landlord relationship, but you also have a responsibility to your other tenants to fill your rental properties with reputable occupants. To accomplish this, you have several options. You can spend hours upon hours, days upon days, and weeks upon weeks screening and interviewing tenants or you can rely on a property management firm, like Potomac Valley Management (PVMGT), to do this for you.

PVMGT has the experience you need to ensure you fill your rental property with the highest quality tenants you can. We have seen thousands of applications before and know how to quickly sort through candidates, analyzing information and identifying warning signs.

The Benefits of Tenant Screening from PVMGT

There are several benefits to using a professional property management firm, like PVMGT, to screen your tenants. The tenants PVMGT finds generally pay rent on time, rent longer, leave the rental unit in good condition, and cause next to no problems. But that is just the beginning. Other benefits include:

  • Minimize Risk:  Tenant screening is crucial in ensuring that you are safeguarded against potential fraud. While tenant screening cannot always guarantee the best possible tenants, it can help weed out previously known midnight movers, evictees, and lease defaulters.
  • Avoid Legal Troubles: The eviction process is long, expensive, and something every landlord would rather avoid. However, the only way to avoid eviction is to ensure you fill your rental property with quality tenants.
  • Keep Existing Residents Happy: As we mentioned earlier, you also have a responsibility to keep your existing residents happy. Tennant screening helps you find tenants who are unlikely to pose a threat to other nearby residents, creating a safer rental environment.
  • And much more!

As a landlord, the only real protection that you have against bad tenants is due diligence and tenant screening.

Hopefully you have found these Property Management Tips useful. If you have any questions, please contact Potomac Valley Management by calling 1.877.390.4090 or visit PVMGT.com today!

Potomac Valley Management, LLC has been providing association management and maintenance services to the Washington-Baltimore area since 2004.

Potomac Valley Management (PVMGT) manages and maintains various condominium and homeowners associations as well as rental commercial properties throughout the region. As a mid-size firm, PVMGT has a vast array of resources and service capabilities which are immeasurable, taking care of your needs from bookkeeping to tenant screening to landscaping contractor oversight.

And we are here to serve you!

You can also follow PVMGT on Facebook, Twitter, LinkedIn, and Google+.

Tips & Best Practices: Add Curb Appeal to your Bowie, MD Rental Property

Sunday, September 23rd, 2012

Every homeowner knows the benefits curb appeal. But as a landlord, curb appeal is not just a method for evoking an emotional response in passersby; curb appeal is also a tool to be utilized to keep your Bowie, Maryland rental properties occupied. While image isn’t everything, it does make a big difference and could give you the competitive edge over the competition.

Landlord Tips: The Benefits of Curb Appeal

  • First Impressions: They say don’t judge a book by its cover. Well, guess what? People still make snap judgments based on their first impressions of everything from candy bars and books to cars and even rental properties. Sometimes, potential tenants will not even look in a rental unit if the outside is not aesthetically appealing.
  • Staying Power: Curb appeal can help reduce turnover. After all, if your tenants are proud and happy with their living situation, they will be less likely to leave. And as a landlord, your goal is to keep your rental properties filled, right?
  • Quickly Fill Vacancies: Even the best rental property is not filled all of the time. But exceptional curb appeal can help attract new tenants and ensure that your rental property is not vacant for long.
  • Save Money: By keeping up with regular maintenance requirements, you can slow wear and tear on your rental property and minimize expensive repairs.
  • And more!

Potomac Valley Management (PVMGT): Maryland Property Management

At PVMGT, we not only help you secure qualified tenants for your Prince George’s County rental properties, but we also bill renters, provide you with a comprehensive financial report, conduct regular property maintenance and grounds maintenance as needed, and so much more. We ensure a clean and aesthetically pleasing environment for your residents in addition to free and open communication between management and tenants.

Hopefully you have found these Quick Tips & Best Practices useful. If you have any questions, please contact Potomac Valley Management by calling 1.877.390.4090 or visit PVMGT.com today!

Potomac Valley Management, LLC has been providing association management and maintenance services to the Washington-Baltimore area since 2004.

Potomac Valley Management (PVMGT) manages and maintains various condominium and homeowners associations as well as rental commercial properties throughout the region. As a mid-size firm, PVMGT has a vast array of resources and service capabilities which are immeasurable, taking care of your needs from bookkeeping to tenant screening to landscaping contractor oversight.

And we are here to serve you!

You can also follow PVMGT on Facebook, Twitter, LinkedIn, and Google+.

Rental Management Services from Potomac Valley Management

Monday, September 17th, 2012

Let’s face it: the real estate market right now is a buyer’s hot ticket item, not a seller’s. But if you’re looking to call a new property home and can’t obtain a fair return on your current house, renting your place may be the way to go. The problem is, though, many homeowners don’t exactly delight in the idea of becoming a landlord when they sign the deed to a new property. That’s why Potomac Valley Management offers rental management services to those looking to occupy their house with tenants.

At Potomac Valley Management, we’ll streamline the rental process for you, offering the following help as you seek a second property:

  • Screen and obtain qualified tenants for occupancy
  • Offer maintenance services when requested by tenants
  • Conduct credit and rental history checks for potential tenants
  • Advertise your property to occupy it efficiently
  • Provide comprehensive financial reports including balance sheets, income statements, general ledgers, accounts payable reports, check disbursement reports, and income and expense budget comparison
  • Bill renters and track accounts receivables
  • Should problems arise, file court and eviction notices to delinquent tenants and attend eviction court sessions

Potomac Valley Management will be on call for your renters at all times so that you don’t have to; enjoy the extra income of a rental property without having to partake in the hassle of maintaining one. We’ll make sure you see the fruits of your decision to lease your property – the rental payments – on time and without complications. Let us take the stress out of renting your home with our management services.

If you have any questions, please contact Potomac Valley Management by calling 1.877.390.4090 or visit PVMGT.com today!

Potomac Valley Management, LLC has been providing association management and maintenance services to the Washington-Baltimore area since 2004.

Potomac Valley Management (PVMGT) manages and maintains various condominium and homeowners associations as well as rental commercial properties throughout the region. As a mid-size firm, PVMGT has a vast array of resources and service capabilities which are immeasurable, taking care of your needs from bookkeeping to tenant screening to landscaping contractor oversight.

And we are here to serve you!

You can also follow PVMGT on Facebook, Twitter, LinkedIn, and Google+.