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Renting out properties can be a great way to build wealth, but it’s not without its challenges. Your success as a landlord hinges on understanding key real estate metrics to maximize your returns. These aren't complex financial formulas, but rather tools that provide valuable insights into your property's performance. By mastering these metrics, you can make data-driven decisions to optimize your income, identify areas for improvement, and become a real estate rockstar! In this article, we'll break down the essential metrics every landlord sho…

As a landlord, determining when and how much to raise your tenants' rent is one of the toughest decisions you'll face. On one hand, increasing rent is a natural part of maintaining the long-term viability of your investment property. But choosing a new rent price can be trouble for tenants. Costs such as taxes, insurance, and maintenance are continually rising, so your rental income needs to keep pace. However, raising rents too high or too often risks losing good tenants who keep your units occupied and your cash flow steady. By carefully con…

Are you a landlord in Maryland looking to protect your property investment? Understanding landlord insurance is essential to safeguarding your rental property against unexpected events. In this article, we’ll break down everything you need to know about Maryland landlord insurance, from the factors affecting costs to the types of coverage available. Whether you own a single-family home or multiple rental units, having the right insurance can provide peace of mind and financial security. Read on to learn how to choose the best policy for your …

Choosing to be a real estate investor means a lot of skills, terminology, and statistics to become acquainted with. Thoroughly understanding the industry will give you a huge advantage while dealing with it. One of the many benefits cited of investing in real estate has to be its consistent appreciation in value. From your research, you have a basic understanding of what appreciation is; the increase in value of an asset. Do you know how it affects your assets in the long run? If not, don’t worry! The team from McKenna & Vane Property Man…

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 …