Anyone know of a good property management company in Baltimore?

Question

Hello,

I closed on a property yesterday and I'm a new investor in Baltimore city. I've spoken to multiple representatives of various property management companies, but they all seem incompetent of actually doing their job. Can anyone lead me in the right direction of a good company? Any advice would be greatly appreciated.

Tarik Larue · Answer

Hey Mercedes,

I hired The Mount Washington Group located in Pikesville, MD. After speaking with several other companies and getting referrals from 2 other local investors I decided to give them my business. They manage over 300 units including their own properties and they have maintenance crews on staff. They also screened the current tenants and deal with lots of Baltimore City housing programs. The staff has been very responsive and I am pleased with the service so far. Good Luck.

Tarik

Steven Trumpet · Answer

Hi Mercedes & welcome to Baltimore investing!

I just looked for a property manager and wish I read Ned's blog; that would've saved me a ton of time. Anyway, they are out there but its rough finding a good one. I posted on Craigslist dozens of times but when i asked for references 98% didnt respond. The few that finally did, i asked them a series of questions & chose one that i thought would fit my needs (history working in blue collar/diverse areas, section 8 experience, lead cert experience). I think one of the other folks recommended joining a real estate club in the Baltimore area- this advice is huge!! These clubs are great for networking and getting educated & they'll share the best property managers, contractors, attorneys etc so you limit dealing with the "others" out there.

Nicole A. · Answer

I self-manage, and don't know who to suggest to you. However, if you decide to self-manage, but need help with any rent court things, I do know a great service for that. They take care of filing any rent court issues and also go to court for you. Not bad prices either.

Ned Carey · Answer

@Mercedes J. No one is going to watch over your property as well as you will. As @Nancy Roth says it will force you to learn about land lording and that will benefit you long run.

Some people will tell you that good property managers are as rare as unicorns. I am not quite that pessimistic but it is a hard to find a good one. Also you must stay on top of them. You can't expect to simply ignore your property and expect everything to work out fine.

I wrote a blog about Baltimore property managers which may help. Baltimore property managers

Mercedes J. · Answer

Thank you for your response! That information will also be very helpful. Please message me.  @Nicole W.

Mercedes J. · Answer

Thank you for your advice. I had no knowledge that they did not have to be licensed to manage your property. I will definitely make sure that they are qualified to manage my property.  Great information. @Lynn M.

Lynn McGeein · Answer

When I was considering using property management in Annapolis, I learned that MD does not require property managers to be licensed agents, so be careful as when I've had management issues in other states, it helped to be able to contact the real estate licensing people when the licensed manager was not doing their job -- which I don't believe you would have access to if they are not licensed.  I was able to screen and find the tenant myself and it worked out well, but if I couldn't be in town to handle it, I would have made sure to go with a licensed manager.   Sorry that I don't have a name for you, but wanted you to be aware of the lack of licensing requirement as I was surprised by it.

Mercedes J. · Answer

Hello Nancy,

Thank you for your response!  I am an out of town investor and that makes the process very difficult. I fly back and forth but not being there everyday to monitor my first home can make the process very tedious. The zip code that the property is located in is 21215. This is my first rental unit and it is in good condition besides some plumbing work and cosmetics that has to be done. I will definitely take some time out to read your articles. Do you have any suggestions on what I should do? @Nancy Roth

Nancy Roth · Answer

@Mercedes J

Ah, Mercedes, welcome to the sweet life of rental investing in Baltimore. Congratulations on closing on a property.

I see you are located in Baltimore, which is a huge help. Please clarify: this is your first rental unit? What condition is it in? Do you have any repair estimates from contractors you trust? If I may ask, what neighborhood or zip code is it in? Are you too tied up during the day to take a hands-on approach?

I ask because it may be useful education for you to get your unit up and rented on your own before hiring a manager. Are you set up to do this? If not, I could maybe offer more specific guidance if I understand more about your plan.

You should also read the many articles on dealing with property managers on the BP site, and talk to a lot of local landlords.

Excellent place to start, if you haven't already, is an investors lunch meeting every Friday at noon at the restaurant Spirits West, 2601 Wilkens Ave. Free, except the cost of lunch. I go there as often as I can and have learned a lot as a result.

Also Baltimore REIA (google it) has a monthly landlord meeting, I think it's the last Monday of each month. And there's an excellent group for women RE investors meeting tonight, actually, also offered by Baltimore REIA.

Good luck,

Nancy Roth

Anyone know of a good property management company in Baltimore?

Most Popular Reply