Greater Baltimore Property Management Blog

December 2024 Newsletter

System - Thursday, January 11, 2024

Maximize your Returns: Invest with PropertyWize Realty

Did You Know?

We buy houses using private investors as our banks and share the profits with them. Our private investors get a fixed return through notes and mortgages secured by real estate. They can use funds from savings or even retirement accounts (IRA’s, 401(k), etc). It's a smart, secure, and profitable way to invest in the future of real estate. 

Flat Roof Issues in Baltimore City: Preemptive Measures for Effective Repairs

As homeowners and property managers in Baltimore City, we understand the unique challenges of maintaining and repairing flat roofs, which have become a popular roofing solution due to their aesthetic appeal and space-saving characteristics. 

Flat roofs, while visually striking, are particularly challenging in a city prone to extreme weather conditions. Issues such as water pooling, leaks, and material degradation can pose significant threats to the integrity of these roofs. Therefore, adopting preventive measures to address and forestall potential damages is imperative. 

Common Challenges with Flat Roofs:

Pooling Water: Unlike pitched roofs, flat roofs lack a natural drainage slope, leading to water accumulation and ponding. In Baltimore's variable climate, with heavy rains and occasional snow, standing water can accelerate roof deterioration.
Leakage: Improper installation, aging materials, or damage from extreme weather can result in leaks. These leaks often manifest as water stains on ceilings or walls, threatening the building's structural integrity.
Material Degradation: Baltimore's weather, characterized by high humidity and temperature fluctuations, accelerates the degradation of roofing materials. UV rays, thermal expansion, and contraction further contribute to material breakdown over time. 

Preventive Measures for Effective Repairs:

Regular Inspections: Conduct routine inspections, especially after extreme weather, to identify potential issues early. Check for cracks, tears, or blistering on the roof membrane.
Proper Drainage: Ensure efficient drainage by clearing debris from gutters, downspouts, and roof surfaces. Installing additional drainage systems or creating a slight slope can aid water runoff.
Quality Materials and Installation: Use high-quality roofing materials suitable for Baltimore's climate and ensure professional installation to mitigate premature deterioration.
Coatings and Sealants: Applying reflective coatings or sealants can prolong the roof's life, enhancing its resistance to weathering and reducing the impact of UV rays.
Timely Repairs: Address minor issues promptly before they escalate. This includes fixing small leaks, repairing damaged membranes, or replacing deteriorated sections.
Professional Maintenance: Engage roofing professionals for periodic maintenance. They can comprehensively assess the roof's condition and offer specialized repairs or treatments.
Recommended Annual Inspection and Replacement Schedule:
If your property has undergone roof repairs, we recommend an annual inspection costing $150.00. Also, we would suggest replacing flat roofs every three years, aligning with the standard warranty time frame.

In Baltimore City, flat roof maintenance requires a proactive approach to prevent issues and prolong the roof's lifespan. Regular inspections, prompt repairs, adequate drainage, quality materials, and professional maintenance are pivotal in preserving the integrity of flat roofs amidst the city's varying weather conditions. By implementing these preventive measures, property owners can mitigate the risk of extensive damages and ensure their flat roofs endure the rigors of Baltimore's climate for years. 

 From all of us at PropertyWize, we wish you & your family a joyful New Year! May this year bring you success, good health, and happiness. 

Be a Hero! PropertyWize Referral Program

Pick anyone and we’ll manage their property for 1 month for free and yours for free, too.

For Referrals
Only applicable to first time customers. Property also must minimum standards and fully compliant of all state and local laws.

For Current Clients
To qualify, your account must be in good standing. Also only 1 property management fee credit is applicable up to a maximum of $150.00

Owner Benefit Package

Minimize Your Exposure... and Headaches:
When a tenant defaults on the rent, it can take months to regain your property and get another tenant in place. Meanwhile, you're continuing to make mortgage payments and incurring additional expenses on the property, all the while losing rental income. Enter the Owner Benefit Package.

Keep Reading

PropertyWize Realty

Enjoy Winter with our exclusive offer:

5% Commission on sales price, along with a generous 30% rebate towards staging cost at closing. Say goodbye to admin fees too! 

* For any properties valued over 150K for current or former Property Management clients only. 

Interested in Selling Your Property? Contact us now at Sales@PropertyWizeRealty.com!

Log In to Owner's Portal

December 2023 Newsletter

System - Tuesday, December 12, 2023



Bracing for Winter: Winterizing Property

As cold weather approaches, there are chances of interior or exterior pipes getting frozen. To avoid freezing, the following precautions need to be taken. We do alert tenants to complete the following to work together to avoid any property damage from the cold winter weather.

If you are interested in having your home weatherized this season, please contact us today.

Office Holiday Schedule


As the holiday season approaches, we want to keep you informed about our office schedule during Christmas and New Year. Please note that our team will be back to regular office hours on the days following the holidays.

Office Holiday Schedule:
  • December 22nd: Open until 12:00 PM
  • December 25th & 26th: Closed

  • December 29th: Open until 12:00 PM

  • January 1st & 2nd: Closed
May this holiday season bring joy, warmth, and cherished moment to you and your loved ones. Thank you for being a valued client of PropertyWize!

Be a Hero! PropertyWize Referral Program

Pick anyone and we’ll manage their property for 1 month for free and yours for free, too.

For Referrals
Only applicable to first time customers. Property also must minimum standards and fully compliant of all state and local laws.

For Current Clients
To qualify, your account must be in good standing. Also only 1 property management fee credit is applicable up to a maximum of $150.00

Owner Benefit Package

Minimize Your Exposure... and Headaches:
When a tenant defaults on the rent, it can take months to regain your property and get another tenant in place. Meanwhile, you're continuing to make mortgage payments and incurring additional expenses on the property, all the while losing rental income. Enter the Owner Benefit Package.

Keep Reading

PropertyWize Realty | Invest Secured By Real Estate

We buy houses using private investors as our banks and share the profits with them. Our private investors get a fixed return on a note and mortgage secured by real estate. They can use funds from savings or even retirement accounts (IRA’s, 401(k), etc).
How is Your Loan Secured?

FAQ

PropertyWize Realty

Embrace Fall with our exclusive offer:

5% Commission on sales price, along with a generous 30% rebate towards staging cost at closing. Say goodbye to admin fees too!
* For any properties valued over 150K for current or former Property Management clients only. 

Interested in Selling Your Property? Contact us now at Sales@PropertyWizeRealty.com!

October 2023 Newsletter

System - Wednesday, October 11, 2023
Check out the newest issue of our monthly e-newsletter that features our newly implemented process updates, industry-related news, and our latest blog articles.

Here's what we have for you for this month.

We want to assure you that PropertyWize is already in full compliance with the latest regulations. By continuing to rely on us as your trusted Property Manager, you won't have to worry about obtaining the rental license on your own. Your peace of mind is our priority.

Fire Prevention Tips: Safeguarding Your Investment and Tenants

October is Fire Prevention Month, a time to focus on fire safety. We, as property managers & owners, have a duty to keep properties and tenants safe. Let's work together to protect our investments and the residents. Fires can be devastating, both emotionally and financially, but with proactive measures, we can significantly mitigate the risks.

Here are some immediate fire prevention tips, perfectly timed for this Fire Prevention Month:

1. Prompt Inspection of Alarms and Detectors:

   - Smoke Alarms and Carbon Monoxide Detectors: Regularly inspect and test alarms on every floor to ensure they function correctly. Swiftly replace batteries and faulty units.

2. Emergency Equipment Ready:

   - Fire Extinguishers: Confirm that fire extinguishers are easily accessible, especially in the kitchen and garage. Tenants should be educated on their locations and usage.

3. Electrical Systems Check:

   - Wiring Inspection: Conduct a thorough examination of your property's electrical systems. Promptly address any anomalies or potential hazards to prevent electrical fires.

4. Outdoor Spaces:

   - Clear Pathways: Keep outdoor pathways clear to ensure swift evacuation if necessary.

5. Regular Property Inspections:

   - Routine Checks: Conduct regular property inspections, paying close attention to potential fire hazards. Address issues immediately to reduce risks.

6. Stay Prepared:   

   - Emergency Contacts: Ensure all tenants have access to emergency contact numbers, fostering a sense of security and preparedness.
 

By actively implementing these measures, we not only protect our investments but also create secure environments for our valued tenants.

Officially Launching in 2024: The Resident Benefit Package!

We're excited to announce that this game-changing program will officially launch on January 1st, 2024!

Starting from the new year, the Resident Benefit Package will be automatically included for all new tenants in our managed properties. For our existing tenants, this exciting package will be introduced upon lease renewal, ensuring everyone can benefit from these exceptional benefits. We are genuinely excited about this upcoming launch and believe it will further strengthen the positive rental experience we offer.

We are dedicated to ensuring the success of this initiative, providing top-notch services to both you and your tenants. If you have any questions about how this new package will impact your property or if you'd like more information, please don't hesitate to reach out to us.

Got Questions? Explore FAQs by clicking here.

Be a Hero! PropertyWize Referral Program

Pick anyone and we’ll manage their property for 1 month for free and yours for free, too.

For Referrals
Only applicable to first time customers. Property also must minimum standards and fully compliant of all state and local laws.

For Current Clients
To qualify, your account must be in good standing. Also only 1 property management fee credit is applicable up to a maximum of $150.00

Owner Benefit Package

Minimize Your Exposure... and Headaches:
When a tenant defaults on the rent, it can take months to regain your property and get another tenant in place. Meanwhile, you're continuing to make mortgage payments and incurring additional expenses on the property, all the while losing rental income. Enter the Owner Benefit Package.

Keep Reading

PropertyWize Realty | Invest Secured By Real Estate

We buy houses using private investors as our banks and share the profits with them. Our private investors get a fixed return on a note and mortgage secured by real estate. They can use funds from savings or even retirement accounts (IRA’s, 401(k), etc).
How is Your Loan Secured?

FAQ

PropertyWize Realty

Embrace Fall with our exclusive offer:

5% Commission on sales price, along with a generous 30% rebate towards closing costs. Say goodbye to admin fees too!
* For any properties valued over 150K for current or former Property Management clients only.

Interested in Selling Your Property? Contact us now at Sales@PropertyWizeRealty.com!

Log In to Owner's Portal

September 2023 Newsletter

System - Friday, September 8, 2023

Pests & Property Management: Who's Responsible?

Pests can cause issues year-round, affecting property. Owners often think pest control is solely the tenant's problem. Maintaining a safe and habitable rental property is essential for landlords. Here's why:

  1. Health and Safety: Pests like rodents can spread diseases and harm tenant health. Address pest issues promptly with professional help.

  2. Property Damage: Termites, rodents, roaches, and ants can quickly damage your property. Act fast when you notice a problem to prevent extensive damage.

  3. Tenant Satisfaction: A pest-free environment is the expectation of tenants. Neglecting pest control can lead to complaints and negative online reviews.

  4. Lower Turnover: Pests drive tenants away. Failing to deal with the issue can result in frequent turnovers and ongoing pest problems.

However, owners should take it seriously to minimize property liability.

Tenant's responsibility:

For common pests like ants, mice, roaches, and spiders, tenants can help by maintaining basic hygiene:

  • Maintain cleanliness within the property, preventing food waste that might lure pests.

  • Remove pet food that attracts pests. If your pets have fleas, address the issue and consider preventive measures.

  • Keep garbage areas clean. Dispose of trash regularly and store it in tightly sealed outdoor containers.

  • Promptly inform your landlord if you discover or suspect pest activity.

  • Report any visible openings or exterior damage that could allow pests to enter the home.

  • Exercise care to avoid introducing pests from locations you've been to.

Owner's responsibility:

For rats, owners must act promptly. It's the owner's responsibility as per Baltimore's code. Neglecting this can result in fines or settlements, and importantly, it causes liability to property. 

Best Practices for Property Owners

Here's how property owners can handle pest control effectively:

  1. Regular Pest Control: Consider quarterly or semi-annual pest control to prevent major infestations.

  2. Address Problem Areas: Fix areas that attract pests, like standing water for mosquitoes.

  3. Professional Pest Control: When in need, listen to property management professionals and use professional pest control services.

  4. Cost vs. Risk: Weigh the costs of pest control services against losing good tenants or facing legal problems.

See the attached link for our recommendations for tenant and owner responsibility as per the sort of the house.



Coming Soon: The Resident Benefit Package!

We are thrilled to announce an exciting new initiative that will enhance the living experience for both you and your tenants. Introducing the Resident Benefit Package!

It is designed to elevate your tenant’s living experience to create a competitive advantage for property owners. Offering these benefits to residents will improve tenant satisfaction and retention, while also making your property more appealing to prospective residents. A win-win for everyone involved.

Stay tuned for more details. Your property's success is our priority!



Be a Hero! PropertyWize Referral Program

Pick anyone and we’ll manage their property for 1 month for free and yours for free, too.

For Referrals
Only applicable to first time customers. Property also must minimum standards and fully compliant of all state and local laws.

For Current Clients
To qualify, your account must be in good standing. Also only 1 property management fee credit is applicable up to a maximum of $150.00




Owner Benefit Package

Minimize Your Exposure... and Headaches:
When a tenant defaults on the rent, it can take months to regain your property and get another tenant in place. Meanwhile, you're continuing to make mortgage payments and incurring additional expenses on the property, all the while losing rental income. Enter the Owner Benefit Package.

Keep Reading

 



PropertyWize Realty | Invest Secured By Real Estate

We buy houses using private investors as our banks and share the profits with them. Our private investors get a fixed return on a note and mortgage secured by real estate. They can use funds from savings or even retirement accounts (IRA’s, 401(k), etc).
How is Your Loan Secured?

FAQ



PropertyWize Realty

Embrace Fall with our exclusive offer:

5% Commission on sales price, along with a generous 30% rebate towards closing costs. Say goodbye to admin fees too!
* For any properties valued over 150K for current or former Property Management clients only. 

Interested in Selling Your Property? Contact us now at Sales@PropertyWizeRealty.com!


August 2023 Newsletter

System - Wednesday, August 9, 2023

Should I Rent to Section 8 Tenants? A Guide to the Housing Choice Voucher Program

The term “Section 8 tenants” refers to renters who qualify for the government’s Housing Choice Voucher Program.

  • How do people qualify, and what exactly is this program?
    • Renters who qualify must have an extremely low income, and if they do, the program helps them afford local housing by paying for 33%-75% of the rent. Some people in this program are elderly, some are disabled, and some simply have little or no income.

Landlords are divided on whether they should or must rent to Section 8 tenants, and for good reason. The laws vary state to state, and even county to county.

The Fair Housing Act (FHA), a federal law, doesn’t prohibit landlords from discriminating based on Section 8. However, some states, counties, and municipalities do, often by prohibiting discrimination based on “source of income” or “public assistance status” – considering them a “protected class.”

Here’s an overview of the pros and cons.

Pros & Cons of the Section 8 Program

  • Section 8 Waitlist
    • Pro: Guaranteed Rent
      • “Guaranteed Rent” – Two words that are music to a landlord’s ears. It almost sounds too good to be true.

        But, under the Section 8 program, you are guaranteed at least a portion of the rent to be paid to you by the government – the U.S. Department of Housing and Urban Development (HUD), to be exact.

        And because you’re dealing with the federal government, this could be a mixed bag. Which brings us to our first two cons...

    • Con: The Approval Process
      • As with any government agency, red tape is involved, and Section 8 is no different.

        First, you must fill out paperwork, and then your local Public Housing Authority, which operates under the Housing Choice Voucher Program, must approve your rental property.

        Then, your property must undergo an inspection, and if approved, it must continue this type of inspection annually.

        To pass, your property needs to meet acceptable health and safety codes. And whether your house is approved could depend on how stringent the inspector is in your area (meaning – you should expect to repair minor issues).

        Also it’s important to note, the inspection process includes inspectors that typically can make their own rules when it comes to deciding which items that needs repairs. In our experience, there is no real way to be proactive since every inspector is completely different. 

    • Con: Subject to Rent Control
      • If you are approved, the Housing Authority then reviews your lease and often restricts how much you can charge for rent. In other words, you can’t necessarily charge what you like.

        You can’t charge whatever you want.

        You generally can only charge what other properties in your area charge. So your property will be subject to a sort of appraisal process to determine rent.

        Note that sometimes, depending on the area your property is in, you might receive more rent through HUD than you would by going through the open marketplace (but I wouldn’t count on it).

        HUD then agrees to pay a certain percentage (this varies by case) of the rent. Your tenant pays the remainder, which usually amounts to 30% of their gross income.

        Generally, a tenant only pays about 30% of the rent amount.

    • Pro: Long-term Tenants
      • Many Section 8 tenants, after being approved for the program and after finding a place to rent, tend to stay put for a while.

        Moving is allowed, but Section 8 tenants need to notify the Housing Authority, give you proper notice, and find another place. In other words, it’s a hassle.

        Plus, when Section 8 tenants sign a lease, it’s generally for at least one year.

    • Con: You Hurry Up and Wait
      • It usually takes a long time to go through the Section 8 process.

        By the time you fill out the paperwork, get an inspector to come out, make necessary repairs if required, get the inspector to come out again to check your repairs, get a tenant in, and then receive rent, you might have been able to rent the place to someone else sooner. Meanwhile, you’re receiving no income.

        The vacancy caused by delays due to red tape usually outweighs any benefit of the program.

Your Results May (Will) Vary

Section 8 tenants have a bad reputation. And just like any stereotype, there could be some truth to it, but every case is different.

People complain that Section 8 tenants are masters at manipulating the system, and many landlords are left holding the bag.

As with all tenants, there are so many things that can go wrong. For example:

  • They lose their voucher, and then won’t leave,
  • They destroyed your property, and the housing authority won’t compensate you,
  • They moved extra people in despite that being against the rules.
  • They become a nuisance to their neighbors.
  • They may be guilty of other lease violations.

Some people, whether they are temporarily down on their luck, are disabled, or live on a fixed income, might not be able to afford housing without some help, but they could make wonderful tenants.

The key is for you to run a background check and credit report, and to call prior landlords. Do your due diligence before accepting any tenant.

  • But just as there are horror stories with Section 8 tenants, there are good experiences too.

Even with properly vetting tenants, there is still no guarantee that nothing will go wrong when dealing with people. The best offense is to protect your investment by working with a reputable management company as well as purchasing additional insurance for yourself.

Some Municipalities Require Participation

Some municipalities require landlords to accept Section 8 tenants, meaning that whether you want to deal with a government agency or not, you have to, even though this should be the landlord’s decision.

For example, if a Section 8 tenant fills out a rental application in a municipality that requires landlords to accept it, and if that applicant passes your screening process, you need to start the ball rolling to have your property approved… unless you rent it to another qualified applicant first. (After all, the government is not known for moving fast.)

Even California and the city of Chicago protect people in the program; however, many states like Colorado allow a landlord to “opt-in,” rather than being required to participate.

Note that you don’t have to accept an applicant just because they have a Section 8 voucher. In jurisdictions that require you to take Section 8 tenants, you are encouraged to screen them as you would anyone else.

You need to contact your local or state fair housing agency to determine what the law is in your jurisdiction.

Pros and Cons of a Home Warranty for Rental Property

 

A home warranty offers several advantages; but, they also have some disadvantages too. 

Pros of a Rental Property Home Warranty

They provide flat rates for repair which can save money. They bring good selling points in getting prospective tenants. They contract with the best local contractors to make repairs. The cost of a rental property home warranty and service calls are tax-deductible.

Cons of a Rental Property Home Warranty

They don't have a real sense of urgency and if the repair is considered an emergency, a delay from the appliance company can cost you a good tenant, or worse liability issues resulting in legal action. They spend as little time and money on your home as possible, so they may choose to repair problems instead of replacing damaged items such as air conditioners and electrical systems. Since repairs do not always last as long as replacements, you could face more expenses soon. Some items may not be covered by the warranty without an additional policy upgrade cost. They usually spend a lot of time to get a simple repair done and if you need to make a claim, the process can be time-consuming too.

A home warranty can be a helpful tool for those who want added protection against the cost of repairing or replacing certain home appliances and systems. However, before deciding whether a home warranty is the best option for you, it is essential to carefully consider its costs, coverage, and restrictions. There are numerous drawbacks to purchasing a home guarantee. 

Any questions or concerns about this, feel free to place a request via your Rental Owner portal.
PropertyWize Maintenance Program
Log In to Owner's Portal

Be a Hero! PropertyWize Referral Program

Pick anyone and we’ll manage their property for 1 month for free and yours for free, too.

For Referrals
Only applicable to first time customers. Property also must minimum standards and fully compliant of all state and local laws.

For Current Clients
To qualify, your account must be in good standing. Also only 1 property management fee credit is applicable up to a maximum of $150.00

Owner Benefit Package

Minimize Your Exposure... and Headaches:
When a tenant defaults on the rent, it can take months to regain your property and get another tenant in place. Meanwhile, you're continuing to make mortgage payments and incurring additional expenses on the property, all the while losing rental income. Enter the Owner Benefit Package.

Keep Reading

PropertyWize Realty | Invest Secured By Real Estate

We buy houses using private investors as our banks and share the profits with them. Our private investors get a fixed return on a note and mortgage secured by real estate. They can use funds from savings or even retirement accounts (IRA’s, 401(k), etc).
How is Your Loan Secured?

FAQ

PropertyWize Realty

From Now until Labor Day SPECIAL OFFER!

4.5% Commission on sales price and 50% rebate towards staging on any new listings for any properties valued over 150K for current or former Property Management clients only.
Interested in Selling Your Property? Contact us now at Sales@PropertyWizeRealty.com!

July 2023 Newsletter

System - Tuesday, July 25, 2023

Twelve Proactive Resolutions For Investors

12 resolutions to ensure the success of any investment, at any time of year.

  1. Review your property insurance annually. 
    • While it is critical to keep insurance up-to-date, you must also keep up with the numerous changes that impact it. Nobody wants to discover that their insurance has expired or is insufficient.
  2. Organize tax information on investments.
    • Begin preparing investment records for your tax accountant as soon as possible to avoid overlooking any vital deductions.
  3. Review your ROI.
    • Make time to review your return on investment (ROI) for each property once a year. Knowing your income and expenses might help you plan for numerous other resolutions discussed in this article, such as a maintenance plan or even purchasing a new investment.
  4. Consider precautionary measures.
    • It is not realistic to believe that your investment property will not require repairs. Preventative maintenance can help you avoid expensive and unnecessary major repairs.  Make a budget for routine repairs while creating your annual budget. During the holidays, no one wants that emergency maintenance call.
  5. Make long-term maintenance plans.
    • Rental property usually considered as a long-term investment. Roofs will age, carpets will deteriorate, water heaters may fail, and so on. Creating a budget for major costs will help if they occur or if an unexpected emergency occurs.
  6. Examine your investment portfolio.
    • Perhaps this is the time to think about selling your home and investing in another. It could also be an excellent moment to add a new property to your portfolio. Contact us for a realistic rental value for any property you are considering purchasing.
  7. Review current tenancy.
    • Check your Owner's Portal regularly for any updates from us. It's possible that a lease renewal is on the horizon, and you'll need to encourage a tenant to stay. It may also be time to serve a tenant with a notice. Knowing what is going on in your property is preferable than being taken by surprise.
  8. Keep up with legislation.
    • When it comes to investment property, there is always something occurring in the courts, such as bedbugs, hoarding, mold, and so on. We will try to make every effort  to keep you informed of any major developments that may have an impact on you. This email newsletter is being sent to you because we want to keep you updated. It is critical that you stay current on legislation that may affect your property.
  9. Always adhere to Fair Housing.
    • Fair Housing impacts many aspects of investment property, including advertising, showings, applications, and renting. Investors who violate Fair Housing laws and regulations may face severe penalties. Following Fair Housing regulations is critical to a successful investment.
  10. Never, ever retaliate.
    • Unfortunately, tenants can be incredibly annoying and difficult. A property owner may become enraged as a result of this. However, it is critical that the court not interpret any action taken by a property owner as retribution. This is a sure way to lose in court. Before taking any action, consult with us to avoid triggering a legal problem or incurring financial harm.
  11. Utilize risk management techniques.
    • All of the prior resolutions are self-evident. They are also techniques to exercise risk management and protect your investment, if you think about it. When you use this approach, you boost your chances of making a highly profitable investment.
  12. Be a part of the team
    • It is essential for property owners and property management companies to work together as a "team." We fight to preserve your investment, and we are more successful when you consider us an integral member of the team. Please let us know if you have any questions or issues, and we will gladly assist you.
GET YOUR FREE RENTAL PROPERTY ANALYSIS REPORT

Turnover Management Process 

Our mission is to complete turnover work as one of the best professional service in the area. Below please find our standard timeline for a units needing basic turnover services. Of course, this timeline may change depending on what is needed in the property at the time the unit is vacant as well as during high volume times when there are a lot of vacancies.

The turnover process starts when the tenant provides us with the keys to the unit. Upon receiving the keys we schedule to move-out inspection to know the condition of the property , including bulk trash, and if the property has any active pest issues. We send our turnover vendor specialist to provide estimates for cleaning, painting, and our standard punch list. If the unit is single-family, we send a landscaper to maintain the lawn during vacancy. We do our best to provide you with at least 2 estimates for approval. Once the estimate is approved, we need 50% funds to get the turnover work started from the owner.

The turnover can be delayed because of multiple issues, materials from the warehouse, shortage of materials, turnover peak time, etc. Once the turnover (painting, punch list, and cleaning) is complete, the Leasing department is notified immediately and we decide if our photographer needs to be contacted for professional pictures. As a quality assurance measure, apart of our final checks includes the Maintenance department scheduling a pre-move-in inspection to make sure that the property is ready for occupancy.

Curious to know PropertyWize standard on turnover to attract high quality tenants, please click here-
https://www.propertywize.com/files/Does%20Your%20Property%20Attract%20Quality%20Tenants.pdf

Check out the checklist our Professionals Photographers recommend completing before scheduling a shoot-
https://www.propertywize.com/files/Virtual%20listing%20prep%20list.pdf

Any questions or concerns about this process, feel free to place a request via your Rental Owner portal.
Log In to Owner's Portal

Be a Hero! PropertyWize Referral Program

Pick anyone and we’ll manage their property for 1 month for free and yours for free, too.

For Referrals
Only applicable to first time customers. Property also must minimum standards and fully compliant of all state and local laws.

For Current Clients
To qualify, your account must be in good standing. Also only 1 property management fee credit is applicable up to a maximum of $150.00

Owner Benefit Package

Minimize Your Exposure... and Headaches:
When a tenant defaults on the rent, it can take months to regain your property and get another tenant in place. Meanwhile, you're continuing to make mortgage payments and incurring additional expenses on the property, all the while losing rental income. Enter the Owner Benefit Package.

Keep Reading

PropertyWize Realty | Invest Secured By Real Estate

We buy houses using private investors as our banks and share the profits with them. Our private investors get a fixed return on a note and mortgage secured by real estate. They can use funds from savings or even retirement accounts (IRA’s, 401(k), etc).
How is Your Loan Secured?

FAQ

PropertyWize Realty

From Now until Labor Day SPECIAL OFFER!

4.5% Commission on sales price and 50% rebate towards staging on any new listings for any properties valued over 150K for current or former Property Management clients only.
Interested in Selling Your Property? Contact us now at Sales@PropertyWizeRealty.com!

June 2023 Newsletter

System - Thursday, June 1, 2023

The Right Tenant is Worth the Wait

The success of a rental property highly depends on finding the right tenant. Disregarding an applicant's poor credentials and rental history just to rent your property immediately will surely cause more headache and financial loss in the long run. At PropertyWize, we follow a strict guideline on assessing an application to make sure we vet the best tenant for you. Click here to learn more about our screening process.

How We Determine Market Rent

Listing your property at an excessive rental price will increase the vacancy period. PropertyWize considers a combination of the following to determine the market rent: comps, recent rent collected, and current conditions of the property. We also pull data from our Rental Analysis Reports to determine the best rate for your investment. We are here to protect your investment and find the right tenant for you by determining the best market rent as we see fit. 

Avoiding Court and Other Liabilities by Being Safe

A plan for minimizing property owners' liability and adhering to building guidelines is to provide tenants with safety. A residence needs to have a safe environment on both the inside and outside of the building.

A significant key for decreasing liability is to "think preventative." Repair costs can be reduced or avoided by paying for maintenance. Courts have a negative view of property owners who do not pay attention to dangerous maintenance. It might also be beneficial to encourage tenants to stay with the tenancy. If a tenant's home is safe and comfortable, they are less likely to move. This reduces rental income loss.

Interior Safety

  1. Fix flooring problems such as exposed carpet tacks, loose tiles, ripped linoleum, and stretching carpeting when necessary.

  2. Replace any flooring when it becomes a trip hazard as soon as possible.

  3. Repair any unsafe electrical problems, such as broken receptacles, unsafe wiring, or faulty stove/oven and dishwasher units immediately.

  4. Maintain or replace smoke alarms so that they work properly in the event of a fire.

  5. Install carbon dioxide detectors on the property. This is a relatively inexpensive item to promote tenant safety and is now required by law.

  6. Provide and install a fire extinguisher. This may also reduce your property insurance rates.

  7. Replace or fix window locks, ensuring that the tenant can easily open all moving windows to provide escape routes in the event of a fire or to prevent burglary.

  8. If neighborhood problems require bars on windows and doors, install the type easily opened from all moving windows and doors. Then, to be on the safe side, have the fire department check them.

  9. Installing double-cylinder deadbolts with thumb throws is a big safety item.

  10. Replace inside keyed deadbolts. These can trap a tenant if a fire occurs and the key is missing.

  11. Remove or fix any problem that could promote mold problems, such as leaking or dripping faucets, broken bathroom fans, etc. If necessary, have the property evaluated by an experienced mold expert. This is one of the highest liability areas for landlords today.

  12. Always have asbestos or lead-based paint removed properly. This is mandated federal law and the fines are huge if there are violations.

Exterior Safety Issues

  1. Install proper lighting around the property to help deter or expose waiting for predators of all kinds.

  2. Keep bushes and trees trimmed to not only assist with exterior lighting but also avoid areas where tenants can trip and injure themselves.

  3. Removing large tree branches can also prevent damage to roofs, people, and tenant vehicles.

  4. Repair large cracks that cause uneven sidewalks and driveways - another trip hazard.

  5. Remove dangerous tree roots - this can cause large cracks in sidewalks and driveways.

  6. Have hanging wiring, falling gutters, and falling roof tiles, removed immediately.

  7. Remove high grasses or debris that could promote fire danger.

  8. Repair, replace, or take out unsafe patio covers, sheds, fences, or structures that could cause a hazard.

  9. Repair or remove dangerous potholes, rocks, or toxic waste.

  10. Fix the source of any standing water. This not only eliminates potential pest problems but can also reduce water bills.

  11. If there is a pool or spa, be sure there is proper maintenance of the water and that it complies with all safety codes.

Be a Hero! PropertyWize Referral Program

Pick anyone and we’ll manage their property for 1 month for free and yours for free, too.

For Referrals
Only applicable to first time customers. Property also must minimum standards and fully compliant of all state and local laws.

For Current Clients
To qualify, your account must be in good standing. Also only 1 property management fee credit is applicable up to a maximum of $150.00

Owner Benefit Package

Minimize Your Exposure... and Headaches:
When a tenant defaults on the rent, it can take months to regain your property and get another tenant in place. Meanwhile, you're continuing to make mortgage payments and incurring additional expenses on the property, all the while losing rental income. Enter the Owner Benefit Package.

Keep Reading

PropertyWize Realty | Invest Secured By Real Estate

We buy houses using private investors as our banks and share the profits with them. Our private investors get a fixed return on a note and mortgage secured by real estate. They can use funds from savings or even retirement accounts (IRA’s, 401(k), etc).
How is Your Loan Secured?

FAQ

PropertyWize Realty

From Now until Labor Day SPECIAL OFFER!

4.5% Commission on sales price and 50% rebate towards staging on any new listings for any properties valued over 150K for current or former Property Management clients only.
Interested in Selling Your Property? Contact us now at Sales@PropertyWizeRealty.com!

May 2023 Newsletter

System - Monday, May 1, 2023

PropertyWize Realty | Invest Secured By Real Estate

We buy houses using private investors as our banks and share the profits with them. Our private investors get a fixed return on a note and mortgage secured by real estate. They can use funds from savings or even retirement accounts (IRA’s, 401(k), etc).
How is Your Loan Secured?

FAQ

All About Property Inspections

Each year from April to September, PropertyWize conducts an annual property wellness checkup walk-through visual inspection for each unit/property. Our goal is to check all the safety items, e.g. Smoke Alarms and Carbon-monoxide detectors, and be proactive with the preventive maintenance items, as well as update the inventory checklist on file for each unit. For example, the locations of the water main shutoff valve, electric panel, water heater, furnace filter sizes, etc. We also check for any emergency items that can cause a liability issue.

For doing the prompt inspection we use a happy inspector, it is quite helpful as you can view inspection results as they’re collected, Speed inspections with forms that automatically match the layout of each unit, and identify the correct number of bedrooms and bathrooms. We can attach up to 16 high-resolution photos to each inspection item for objective proof and maximum clarity. We can add comments or note to each item inspected, and store frequently-used comments in our SnapText library for easy access and we can capture item brands, colors, finishes, and unique conditions. They allow inspectors to assess how conditions measure up to standards, so we can benchmark performance and accurately estimate costs. It help us to minimize damage disputes with move-out reports that provide your residents with transparency into item conditions.

Rental Owner Statement

Some tips when running the rental owner statement:

- Check the property beginning balance. At times, changes to past transactions can affect the owner’s running available for payment balance. Running a rental owner statement with a prior start date will help you find discrepancies.
- Run the rental owner statement including the transaction details. Seeing more a more detailed view can also help to find discrepancies or missing transactions.

If you are relying on the dashboard, it doesn’t show any reserves which are very important in calculating your net pay. The effectiveness of the dashboard is to show a glance of your income and expenses but it doesn’t show you the full picture. Our clients use it mostly to click through the blue hyperlinks and
download invoices and receipts.

The dashboard by default uses calendar month, but we define the fiscal month as ends on the 10th of each month for accounting purposes. The dashboard is default by the software, you may select "Custom" in the pull-down menu for "Date range", then you will be able to select the "start date" and "end date" matching our fiscal month cycles.

If this net amount is not matching, we recommend running the rental owner statement report to troubleshoot. The rental owner statement will show you all the transactions affecting the owner’s available cash. It is a great place to find missing or incorrect transactions on the owner’s properties.

Rental Owner Portal Benefits & Uses

Are you maximizing the use of your Rental Owner Portal to keep track of your portfolio? Take a look at this video to see!

Be a Hero! PropertyWize Referral Program

Pick anyone and we’ll manage their property for 1 month for free and yours for free too.

For Referrals
Only applicable to first time customers. Property also must minimum standards and fully compliant of all state and local laws.

For Current Clients
To qualify, your account must be in good standing. Also only 1 property management fee credit is applicable up to a maximum of $150.00

Owner Benefit Package

Minimize Your Exposure... and Headaches:
When a tenant defaults on the rent, it can take months to regain your property and get another tenant in place. Meanwhile, you're continuing to make mortgage payments and incurring additional expenses on the property, all the while losing rental income. Enter the Owner Benefit Package.

Keep Reading

April 2023 Newsletter

System - Monday, April 10, 2023

PropertyWize Realty

Summer Sale! 
Only 4.5% sale price for any properties valued over 150K for current or former Property Management clients only.
Interested in Selling Your Property? Contact us now at Sales@PropertyWizeRealty.com!

Introducing Short Term Rental Management Services

Sit back and relax as we manage your short term rental from end-to-end. Click here for more information.

Pet Screening

We strive to provide mutual accountability and responsibility for the benefit of all our residents. It’s imperative that ALL our residents fully understand and acknowledge our pet and animal-related policies. We use a third-party service, PetScreening, to ensure all applicants understand how to adhere to the property's pet and animal policies, even if they do not have a pet or animal.

Lease Violations Overview

Our best practice when a lease violation comes up is to handle it right away, send proper documentation for record keeping, keep emotions out of it, and follow up in a timely manner.

If we have a tenant that is violating their lease, we have an obligation to enforce the lease agreement. Remember, we are running a business. Our goal is to protect your asset, and part of protecting your asset is enforcing the lease agreement.

Step 1- Serve the tenant with proper notification. Sometimes, the tenants may not know they are violating the lease agreement. Have something in writing, notifying them of the violation and a time frame in which to have the violation resolved.

Step 2- Here at PropertyWize Property Management, beyond serving a notice, we always consult our attorneys before taking any legal action towards a tenant as each case and circumstances are different.

Step 3- Speak to the tenant to go over the details of the violation and inform them of the next steps.

Step 4- Schedule an inspection if deemed necessary to confirm tenant is now in compliance.

Step 5- Follow up and if no improvement, the next step would be to issue a breach of lease or non-renewal of lease depending on the circumstances.

Rental Owner Portal Benefits & Uses

Are you maximizing the use of your Rental Owner Portal to keep track of your portfolio? Take a look at this video to see!

Be a Hero! PropertyWize Referral Program

Pick anyone and we’ll manage their property for 1 month for free and yours for free too.

For Referrals
Only applicable to first time customers. Property also must minimum standards and fully compliant of all state and local laws.

For Current Clients
To qualify, your account must be in good standing. Also only 1 property management fee credit is applicable up to a maximum of $150.00

Owner Benefit Package

Minimize Your Exposure... and Headaches:
When a tenant defaults on the rent, it can take months to regain your property and get another tenant in place. Meanwhile, you're continuing to make mortgage payments and incurring additional expenses on the property, all the while losing rental income. Enter the Owner Benefit Package.

Keep Reading

March 2023 Newsletter

System - Monday, March 13, 2023

Introducing Short Term Rental Management Services

Sit back and relax as we manage your short term rental from end-to-end. Click here for more information.

Rental Assistance Program Ended

The City of Baltimore’s Rental Assistance Program has ended the current application period and closed its Rental Assistance Program application portal to new applications on February 3, 2023. The Rental Assistance Program will continue to process applications that have been submitted prior to this date as long as funding is available.

New Rule from City Sheriff Office

This is to inform you that in Dec 2022, the newly elected Baltimore City Sheriff has implemented a new rule regarding posting Failure to Pay Rent (FTPR) and Eviction notices in common areas of Multi-Family Dwellings (MFD). 

The deputy sheriff now must post FTPR and Eviction court notices on the tenant's unit door; they can no longer post to a building's exterior door that has multiple units. The sheriff department stated that posting in the common areas is "inhuman".

Because of this new rule, we strongly recommend all Baltimore City MFD owners to invest in installing a keypad door lock that can be unlocked by pressing a code, so the deputy can have easy access to post FTPR Notice on the tenant's door.

The Sheriff's Office also said they will not access a lock box or remove a property key from a lock box because they do not want to be held responsible for missing keys. 

With this new rule regarding posting Rent Court Notices, please contact us if you would like us to install keypad locks on your MFD 's exterior door before the next FTP Rent Notice has to be filed.

New City Rule for Evicted Tenants

One of the new rules implemented by the new sheriff in the City is to allow the evicted tenants to get their belongings back. If needed, we will allow tenants to do so to avoid any possible lawsuits. Please check out this article from The Baltimore Banner for more info: Baltimore couple awarded $180K after losing belongings in eviction

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Returned Mailings

Please note that all rental owners are required to provide us their updated mailing address. Recently, we processed the 1099 and some mails were returned to us due to incorrect addresses. You may email us at info@propertywize.com or create a task through your portal to update.

Unpaid Rental Owner Balance

Please be advised that we are sending an email whenever an owner has a balance on the account for more than $1000 every month. You need to make sure that the account is positive to avoid being charged $50.00 + 1% of the money owed from the previous month. We are making the audit every 10th of the month and we are sending notifications via email and mail.

In order to pay for the balance, you may send an owner contribution through the portal.

Streamline Communication

Here’s a refresher on how to navigate your portal. Please click here for more information.

Maintenance Workflow

When a maintenance request is received, the agent first checks the severity of the ticket, then sends an auto-approve notification to the owner if it is an emergency. 

If the maintenance request is not under emergency severity, then check if the tenant is delinquent or not and the agent cancels the ticket if the tenant is delinquent. 

If the tenant is not delinquent, the agent checks if the property is under a home warranty or not, then reaches out to the home warranty. 

If the property is not under a home warranty we check If the owner handles the repair, and if not, the agent moves forward with checking if the ticket has any vendor warranty like waterproofing, roofs, HVAC, carpet, etc. If the ticket is not under vendor warranty, the agent proceeds with standard dispatch.

Process on Auto Approved (Emergencies) Vs Approval Requested (Non-Emergencies)

Non-Emergencies- Should be processed in 7 business days. The minimum of $300 is auto-approved and any estimate above $300 requires owner approval.

Emergencies- Should be processed in 24-48 business hours, There is no limit on the estimate, an emergency ticket’s estimate is auto-approved cause it causes liability to the property or is hazardous.

Be a Hero! PropertyWize Referral Program

Pick anyone and we’ll manage their property for 1 month for free and yours for free too.

For Referrals
Only applicable to first time customers. Property also must minimum standards and fully compliant of all state and local laws.

For Current Clients
To qualify, your account must be in good standing. Also only 1 property management fee credit is applicable up to a maximum of $150.00

Owner Benefit Package

Minimize Your Exposure... and Headaches:
When a tenant defaults on the rent, it can take months to regain your property and get another tenant in place. Meanwhile, you're continuing to make mortgage payments and incurring additional expenses on the property, all the while losing rental income. Enter the Owner Benefit Package.

Keep Reading


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