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Being a landlord can be a lucrative career. However, just like any other business, it isn’t without risks. One such risk is rental damage.  Now, rental damage can occur in two ways: normal wear and tear and excessive damage. In this blog, you’ll learn their differences, and know your rights when they occur!  What Constitutes Normal Wear and Tear? The definition isn’t really straightforward, but normal wear and tear is generally described as the damage that occurs in a unit by a tenant living their day-to-day life.  So, what does this mean to yo…

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It can be lucrative to rent out your home and become a landlord. Successful property owners not only see the financial gains and tax deductions, but they can also see an appreciation of their rental investment. But rental property management isn’t without its challenges. It comes with a lot of tenant issues, chief among these being from tenants - an unavoidable part of being a landlord. Yet, if not approached well, tenant complaints can derail your investment significantly. On the other hand, managing complaining tenants well is proven to help…

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Property damage is inevitable especially when renting out the space to tenants. That being said, there are still steps that the property owner can take to help reduce instances of damage.  If you want to learn how to protect your rental properties from damages keep reading! Implement a Thorough Tenant Screening Process Before allowing a tenant to reside in the rental, you should always perform a screening. In the screening, you want to look at the tenant's employment history, perform a general background check and look at their credit score. It…

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A lease or a rental agreement is a contract between a landlord and a tenant. It clearly defines the terms and expectations between the landlord and tenant within the duration of the renting period. A lease or rental agreement is a legal contract, meaning that either party can seek legal redress in case of a violation. For a lease to be effective, there are certain terms that it must contain. The following terms should get you started. 1. Names of All Adult Tenants Living on the Property Having the names of all the adult tenants living on the pr…

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Successful landlords in Maryland have one trait in common: great marketing skills. Great marketing and advertising ensure low vacancy rates which, in turn, means more profit. You may have the best property on the rental market, but prospective tenants may not know of its existence. As such, your job as a landlord is to use your rental property marketing skills to maximize your ROI. When you’re able to advertise your rental property well, you mainly benefit in two ways. The first is that you’re able to attract a large group of prospective tenant…

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