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Having the right paperwork in place is the key to running a successful rental business. Without the documents, you can find yourself facing costly legal disputes or financial losses. Whether it's dealing with tenant disputes or filing an insurance claim, paperwork can always help you. However, it can be a bit confusing knowing which documents you need. We, at McKenna & Vane Property Management, have got you covered. In this article, we will cover all the essential rental documents you need. We will also tell you how to create these documen…

New landlords may be trying to decide whether to invest in furnishing their rental units. As more niche markets have developed and want different things, it can be overwhelming to think about what to offer tenants. In the past, it was sufficient for landlords to provide free utilities. But with the plethora of services available and evolving needs of the market, you want to offer a lot to renters to attract them to your property. Renters find furnished rentals convenient, so more landlords decide to furnish their units. It’s less costly for t…

Landlording can be anything but easy, especially if you’re doing it for the first time. Filling vacancies, screening tenants, collecting rent, and filing taxes, among many other things, can seem stressful and time-consuming. Be that as it may, this isn’t to say that being a landlord for the first time isn’t doable. It is, as long as you’ve armed yourself with the right skills and strategies. In today’s blog, we’ll walk you through 8 essential tips to become a successful first-time landlord. 1. Draft a Proper Lease Agreement Avoid handshake …

One of the worst fears Maryland landlords have is thinking that their tenants will leave before their fixed term is over. However, at times, tenants may choose to continue staying even after their lease has ended. In most cases, it's a landlord's mistake to let said tenant stay without renewing their lease. A holdover tenant is one that has stayed beyond their lease term. If you continue accepting rent, the tenancy will continue and will automatically become month-to-month. The tenant will continue renting your property at the same terms and co…

Winter is a magical time of year in Maryland, with cozy nights by the fire, hot cocoa, and snowy landscapes. However, for landlords and tenants alike, winter can also be a challenging time. Preparing your rental property for winter can help ensure that it remains safe, comfortable, and in good condition throughout the colder months. From protecting pipes from freezing to ensuring adequate heating and insulation, there are several important steps that landlords and tenants can take to prepare for winter. So, if you want to keep your rental prop…