Remove Insurance Remove Lease Agreement Remove Property Management
article thumbnail

What Happens If Someone Gets Hurt on Your Rental Property?

Bay Property Management Group

In the meantime, your tenant’s renter’s insurance can help cover the costs. What Happens if Someone Gets Hurt on Your Rental Property? Get ready for insurance claims If anyone gets hurt because of something you did or didn’t do with the property, they might file an insurance claim against you.

article thumbnail

Lessor vs. Lessee: How Are They Different?

Bay Property Management Group

They both come from leasing; a lease agreement where one person lets another use their property in exchange for payment. For instance, if a landlord rents out an apartment, they’re a lessor making a rental agreement with a tenant (lessee). Essentially, they must take care of the property and its tenants.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

What Is Debt-To-Income Ratio (DTI): What Investors Need to Know

Bay Property Management Group

As property managers in Baltimore, we can tell you that debt-to-Income Ratio (DTI) is a huge factor lenders look at to gauge how risky it is to lend to you. Essentially, lenders use it when reviewing mortgage applications to see if you can afford a property loan. Ready to take control of your finances?

Insurance 147
article thumbnail

Are Pet Deposits Refundable? What You Need to Know

Bay Property Management Group

Pet deposits are basically a landlord’s safety net, a form of informal “insurance.” Once the dust settles and your lease has finished, are pet deposits refundable? O ur residential property management in Northern Virginia will break it down for you. At Bay Property Management Group, weve got you covered!

Landlord 130
article thumbnail

What Is a Mother-In-Law Apartment & Should You Have One?

Bay Property Management Group

Local zoning laws, rental regulations, and permits dictate whether you can build and lease them , with size restrictions, occupancy requirements, and compliance with tenant rights laws varying by region. In the meantime, if you want to learn more about how you can make your property management easier, we’re here to help.

Apartment 130
article thumbnail

What Utilities Are Included in Rent: A Guide for Tenants

Bay Property Management Group

In particular, landlords and property management in Northern Virginia tend to include the following utilities, specifically: Water Most rentals that include utilities include water in the rent. Renters Insurance While not exactly a utility, many landlords require tenants to have renters insurance.

Utilities 130
article thumbnail

Feeling Worn Out? Seven Signs It’s Time to Hire a Property Manager

RL Property Management

Plenty of self-managing landlords hit a point where managing their rental turns into a second job they never signed up for. Lets walk through the most common signs that DIY property management isnt working anymoreand what you can do about it. You’re Spending Too Much Time on Management Tasks 2.