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| Property Management in Maryland |
Owning a property in a place like Baltimore in
Maryland is a great deal. It requires a lot of investment to purchase a
property in such city. There can be many reasons to buy a property but if you
are buying a property with the intention to rent it out then, there are many
things that you need to know.
Renting out a property in Baltimore is not an easy
task. It takes a lot to find and hire a quality tenant for the Baltimore rental
property. Sometimes it requires professional property manager’s assistance in
order to manage the property and tenants as well, which can be an expensive
affair for you. Hence, before you should invest in rental property there are
many things that you must know.
When you rent out your property then, along with the
home owner you become a landlord for the tenants. Being a landlord you have
certain obligations towards your property and tenants during their occupancy
period. If you will understand your duties or responsibilities then, you will
be able for your rental property managenent in Baltimore in the most wonderful way.
It is imperative for all the landlords to understand
or beware of his duties or obligations so that he can provide the right
facilities and environment to his tenants in the rental property, which will
allow them to live longer.
So, here are the roles, responsibilities or duties of
a landlord that every landlord must know before renting out his property:
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| rental agreement information |
Provide a Copy of
Rental/Lease Agreement
A rental agreement is actually a contract between the
landlord and tenant in which a landlord declares that he is permitting/allowing
a tenant to occupy his home or property for a certain period of time. The
agreement is usually for 11 months during which both the parties are free to
terminate the agreement with a valid reason. If no one will terminate the
contract then, it will be renewed for another 11 months.
A rental agreement includes the information of the
tenants like their name, permanent address, occupation, number of the tenants,
amount of the rent, details of security deposit, duration of the occupancy,
etc.
It is the responsibility or the duty of the landlord
to provide a copy of the rental agreement especially when it is in a written
form. While signing the agreement by the tenant it is the responsibility of the
landlord to explain all the rules and regulation that must be followed by the
tenants.
Duty of Repair and
Maintenance
In case of any repair emergency it’s the duty of the
landlord to handle it. He would be responsible for the repair and maintenance
cost until the damage has occurred by the tenant’s mistake.
It is the responsibility of the landlord to maintain
the property in a habitable condition for a person to live in. He should in
fact, inspect the house thoroughly before hiring tenants for the rental
property so that he could know if there is something which is need to be
repaired.
For maintaining the property in a habitable condition
many property owners hire property management company in Baltimore for their
rental property. They are professionals and have team who can look after your
home and keep it maintained in well condition when the tenants first move in.
Your tenants have the full right to call you in case
of any emergency or to just simply fix a faucet. It’s your duty to listen to
them and solve their problems related to repair and maintenance.
Notice to Tenants
about Upcoming Entry
The Landlord has the right to enter his rental
property while occupying by the tenants for inspecting the property. But, it is
also his duty to inform the tenants about his arrival. The tenants’ privacy
matters a lot and due to this you must enter your property with a proper notice
given to the tenants to inform them about your visit.
The tenants also have the full right to tell you when
or when you cannot enter the property during their stay. They might be out of
station or their family has arrived or anything can be possible. So, you should
give them a notice by email or a phone call mentioning the date and the time as
well that when and why you are visiting.
The landlord must give a phone call or inform the
tenants about his visiting in the property at least 24 or 48 hrs before the
entry. However, a landlord can take entry at any time without a notice to make
an emergency repair.
Properly Store
Tenant's Security Deposit
It is the obligation of the landlord to properly keep
or store the tenant’s security deposit according to state's law. Different
states have different laws regarding security deposit so you must check your
own state's laws to know how you can keep the security deposit. How much you
can take as security deposit from tenants and how can you use it?
Your landlord's legal obligations or duties vary
depending on your tenancy type but certain basic rules are always the same.
The above-mentioned duties of a landlord are the most
basic ones that you must know about. If a landlord will be aware of his duties,
responsibilities or obligations then, he would be probably become the best
landlord who will be able to keep his tenants for a longer period.
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