Remove Lease Agreement Remove Professional Property Management Remove Tenant
article thumbnail

Should I Use a Professional Property Manager?

Real Property Management Chicago

Is a professional property manager the right choice for your rental property? Professional property management can make owning (and profiting from!) rental properties a hassle-free experience for you. However, managing a rental property on your own can be like taking on a second full time job!

article thumbnail

What Is A Rental Arbitrage? A Guide For Landlords

Bay Property Management Group

With rental arbitrage, tenants rent from your property in the long-term and sublet it to short-term renters through Airbnb, VRBO, and other platforms. Our property management company in Baltimore have observed that tenants often do this because it’s so effortless. This sounds simple enough, right?

Landlord 147
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

A Complete Guide to Renting Out Your House

Bay Property Management Group

Furthermore, it allows you to retain ownership of the property while building equity over time. You must stay on top of the house repairs, keep an open line of communication with tenants, and ensure the property meets all legal and safety requirements. Lease Agreement: You also should create a lease agreement.

Rent 147
article thumbnail

What are the Penalties for Breaking a Lease: A Primer

Bay Property Management Group

To get out of a lease early with less punitive measures, you could sublet or transfer your lease (if allowed), look for an early termination clause in your rental agreement, or work with your landlord to find a solution. You could face penalties for breaking a lease depending on your lease agreement and applicable laws.

Lease 130
article thumbnail

What is the Difference Between a Lease and a Rental Agreement?

Bay Property Management Group

It is important to be transparent with the entire lease signing process. When we oversee Washington DC property management we are conscious of the questions tenants (and sometimes landlords) may have with the jargon that is used. The difference between lease vs. rental agreement is a good example of this.

Lease 147
article thumbnail

Rules for Renting a Room in Your House You Should Know

Bay Property Management Group

There are several things you need to consider before moving forward, especially since the tenant will be sharing your home. By renting out a room, you can help cover your mortgage, property taxes, utility bills, and more. Shared Responsibilities When you have a tenant, you can share responsibilities around the house.

Rent 147
article thumbnail

Landlord vs Property Manager: Key Differences Explained

Bay Property Management Group

A property manager, on the other hand, handles day-to-day operations, including tenant relations, rent collection, and ensuring compliance, acting as an intermediary on behalf of the landlord. From setting rental terms to handling maintenance and tenant management owners call the shots. What Is a Landlord?