Owner & Investor Frequently Asked Questions
- Why is it important to be licensed?
- What type of properties do you manage?
- How large is your staff?
- Is your property management agreement and lease a standard, widely used form?
- Does your management agreement give you the exclusive right to sell my property?
- What needs to be done to my property before it is ready to rent?
- What will you do you to get my property rented?
- How long will it take to rent my property?
- What do you do to qualify a tenant after they have applied to rent?
- Do I have a chance to approve an applicant?
- Can I say no to pets, smokers and kids?
- I think I need a leasing agent only, and can manage the property myself. Do you offer this service?
- Will you agree to a month-to-month management agreement?
- Do you work with Section 8 Tenants?
- Do you guarantee the tenants that you place in my rental property?
- What happens if the tenant doesn't pay their rent?
- How much security deposit do you charge the tenant?
- Who holds the tenant's security deposit?
- What happens if the tenant breaks the lease?
- How do you make sure the tenant is taking good care of my property?
- What do you do if the tenants are not taking care of my property or have unauthorized pets?
- How do you handle tenants maintenance requests?
- Will I be informed about what happens with my property?
- Will you pay my property bills for me?
- When do you mail the Owner's check?
- What will I receive with my accounting statements?
- Can you transfer the rent directly into my bank account?
- Do you hold some of my money for repairs? How much?
- Do you use the cheapest maintenance people you can find?
- How do I know you won't spend money on large repairs without my approval?
- Do we need any special insurance?
- What if I want you to use my plumber or my brother-in-law?
- How much do you charge?
- Are there administration fees or other service charges?
- How soon can you start managing my properties and what do you require?
- What is NARPM?
- What do the letters RMP & MPM mean?
- What if my tenant contacts me directly?
- I keep receiving HOA violations for my rental house, is the tenant trashing my house?
- Why does Professional Property Services require that the properties by rekeyed and/or locks replaced for new tenants?
- What do you charge for dealing with vacant properties?
- How do I know a tenant will take care of my home the same way I did?
Maryland Law does not require property managers to be licensed by the Maryland Real Estate Commission. However, consumers who do business with licensed real estate professionals are protected against losses by the Real Estate Guaranty Fund; consumers who do business with unlicensed property managers are not. As licensees, we are bound to strict adherence to the high professional and ethical standards set forth by the Maryland Real Estate License Law. As REALTORS® and as members of the National Association of Residential Property Managers (NARPM®), we are also bound by an even stronger Code of Ethics and higher standards of professional conduct.
We specialize in RESIDENTIAL PROPERTIES only single-family homes, town homes, duplex and doubles or semi-detached homes.
There are six of us, all in the family. Harry Van Mater, MPM®, RMP® is Broker and MDE Certified Lead Paint Inspector. Cindy Van Mater, MPM® RMP® is President, Property Manager, Chief Financial Officer and "Mother Hen" to the rest of the staff. Angela Brinkley-Morris, RMP®, our Chief Operating Officer and Property Manager. Jackie Morris is Secretary, Showing Agent and Certified Lead Inspector. John Morris is full time all-around Maintanance and Certified Lead Paint Supervisor, and Michael Morris is full-time Maintenance Co-ordinator and Certified Lead Paint Supervisor. Most of the properties we manage belong to owners who came to us because we are a small boutique company and like our hands-on management. We don’t have the organizational and personnel problems that big companies do. We own and manage properties of our own, as well as those we manage for others. This is not just a job for us. We are rental property owners just like you. We take care of your property as if it was our own. You and your tenants will appreciate the efficient, personal service we are able to provide.
No. There is no standard property management agreement required. In fact Maryland Law does not require property managers to be licensed. We use a form that was reviewed and approved by legal counsel for the Maryland Association of REALTORSâ and counsel for our local chapter of the National Association of Residential Property Managers, NARPM®. The contract is well written and very detailed to protect the property owner, the tenant and the property manager.
No. We usually do not sell or list property for sale. Our agreement does give us the right to request and receive a referral fee from the listing broker (of your choice or ours) that would help cover our additional efforts and assistance to the agent in selling your house. Or, if you would like we can refer you to the most active agents in the area, that we know and have worked with in the past. However, we do have licensed Real Estate Agents in the firm and if you would like us to represent you in the listing and sale, we would be happy to do so. Also, if the tenant should purchase the property, we would be the procuring agent and guide them thru the sale process.
The better the condition the property is in when it is leased, the better tenants you will get and the better they will take care of the property. We advise you, in detail, what should be done to accomplish this see ("Owners Make Ready"). Usually, if a property is well maintained, the only thing that needs to be done is thorough cleaning and painting. Of course, any defective windows, screens, appliances or mechanicals must be repaired, and any exterior maintenance and yard care done. In other words, you turn over the property to the tenant in the same condition as you want them to keep it while occupying and when they move out. If the property was built prior to 1978, it must be registered with the Maryland Department of the Environment and tested for Lead-Based Paint.
Our office Telephone is answered by a live person weekdays from 9:00 am til 5:00 pm and Saturday from 9:00 am til Noon. We give all our rental listings "MAXIMUM EXPOSURE", including, but not limited to extended showing hours - We show your rental property during reasonable daylight hours and Saturday.
Internet web page: http://www.ProPropertyServices.com Information about the Company, our Services, Principals and Policies, Rental application, Property descriptions and photos.
Worldwide Internet Advertising, including AHRN (Army Housing Rental Network)
"For Rent" signs with Info-Boxes: Posted on all rental properties with INFO-Boxes with Addresses and information about ALL our listings. Also Information on rental policies and qualifications for renting.
Metropolitan Regional Information System (MRIS): We enter your property data into (MRIS) Realtors Multiple Listing Service for leasing, making information about your property available to ALL REALTORSâ in our area as well as 55,000 Plus REALTORSâ in the Mid-Atlantic area that have a customer moving to the area.
Referrals: Recommendations and Referrals from happy present tenants and satisfied past tenants. Recommendations and Referrals from contented present property owners and grateful past property owners.
Referrals: Referrals and recommendations from the business community for the care, concern, honest and fair treatment we have for our owners and tenants - current and past and friends & families of our tenants.
Referrals: Referrals and recommendations from other real estate Brokers and agents who have done business with us and who know our reputation, and us.
Referrals: Referrals from other members of (NARPM®) National Association of Residential Property Managers, locally, nationally and worldwide. NARPM® is the only international professional association specializing in the renting and managing of residential properties.
Referrals: Referrals from our Vendors who do business with us and know how we maintain our rental properties.
If you are competitive in pricing the property at a realistic rental amount and condition, it usually takes from 30 to 60 days to acquire an acceptable, qualified tenant. Occasionally, it may take longer depending on the time of year and the market price range. If it looks like the market is sluggish, we will discuss alternative marketing plans with you.
We process all applications in-house. We don't use a third party. Our Property Management Software has a screening service that thououghly checks all applicants.
Credit report: We are on-line with a nationwide credit reporting service. The credit report shows us the applicant’s attitude toward meeting their financial commitments. It also shows their monthly debt load, and their previous addresses. (Which we verify on the application)
Rent suits and Tenant evictions: The Screening service also searches public records to determine if the tenant has ever been sued in District Court for non-payment of rent or for a Writ of Restitution (eviction), or any other Landlord issues.
Rental references: We personally talk to the present and past two landlords (If possible). We inquire about the tenant’s past rent payment performance and conduct while renting the property. If the applicant has listed a private landlord as their previous landlord (Not a property management company or apartment complex), we verify the owner and property through the County tax records. We also verify the owner's home address and home phone number.
Income and Employment: We verify employer's address and phone number then call to verify the applicants' length of employment and income. Many employers will not provide more than basic employment confirmation, so we require a copy of their paycheck stub. We also require a photocopy of their driver’s license and Social Security Card to verify their identification. If the applicant is self-employed, we require a minimum of the past two years Federal Income Tax returns, and their P & L or verification from their accountant.
Other considerations: All information obtained is reviewed. An applicant should be earning three to four times the monthly rent in gross income, must have a stable, verifiable source of income, good credit, and verifiable rental references from reliable unbiased sources (not relatives or friends).
Yes, if you wish. When we receive an application that meets our standards of qualification, we will discuss them with you before final approval. Of course, we are required to abide by all Fair Housing Laws, and can not deny an application unless it does not meet our income and credit standards.
Yes, you can say "NO" to pets or smoking. However, sometimes good tenants include a family pet, and they have been known to be the best possible tenants. With good references and an additional amount of Security Deposit because of pets, sometimes it is better to take it on a "Case by Case" basis and look at the whole picture before completely excluding families with pets. You may lose as much as 75% or more of the potential market for your home by not being willing to accept pets.
If an applicant has a service animal and can provide proof of the need for a service animal, the animal is not a pet by federal law and it must be allowed, again per federal law.
The Fair Housing law states that you cannot disallow families with children.
NO. Most professional landlords agree that the selection of tenants is the SINGLE MOST IMPORTANT FACTOR in the successful management of their rental property, and many property owners feel they can handle the day-to-day management of their property; have resources for repairs and maintenance; and the temperament to deal with tenant requests, concerns and problems. However, in the past we have come to the decision that, in order to maintain our professional integrity and credibility, we will only offer full management of the property, so that we can be certain that any possible problems for either landlord or tenant are handled properly with respect to legal and regulatory aspects of all applicable local, state and federal laws, in any unit where we have been involved in placing the tenant.
NO. We usually start with a minimum 12-month management services agreement. There is a lot of effort in placing your property on our system, setting up your account and finding a suitable tenant. But, if you feel more comfortable with an open-ended agreement, that is fine with us, and we would have to adjust our fees accordingly. Of course, if you are not satisfied wih our services for any reason, you may terminate the agreement with 60 days' notice. If there is a Lease still effective, you would owe management fees through the end of the Lease. The only exception would be a distressed property in need of much work or one that has problem tenants you want us to deal with. If that is the case with your property, we can discuss other options with you.
Yes, we do not discriminate. Section 8 properties have an entire set of unique factors and many challenges that go along with participating in the program, so we must charge a bit more for the additional paperwork and inspections in handling Sec 8 properties. There is no finer example of Government bureaucracy, duplicity, red tape, and inconsistency than what we experience dealing with the City and County Housing Authority. That said, there are advantages to the program that can benefit some owners.
We do everything that is legally possible to screen each applicant thoroughly to make sure that they will be good, responsible tenants. However, it is impossible to guarantee that at some point there may not be a problem. Things change in people's lives. They may lose their job, get a divorce, or have a death in the family. If there is a problem, we stay on top of it to make sure that your losses are kept to a minimum.
All rents are due and payable on or before the 1st of each month, if rent is not received by the end of business on the 5th of the month, we will send a late notice demanding the immediate payment of rent. We stress very strongly the damages to the tenants' credit and the future of not being able to rent from another property manager because of a rent suit. On the 1st Thursday after the 5th of the month we will file a rent suit at the District Court. Trial is usually scheduled for the 2nd Friday after filing the rent suit. Whether or not we eventually have to proceed with a trial and formal eviction depends on the tenant. It is always financially better for all involved if a solution can be worked out. If the tenant has experienced a one-time event which caused them a financial hardship, and we have had no previous problems with them, it is better for you, the owner, and the tenant if we give them a chance to correct the situation - if there is reason to believe they can do so. If the tenant has demonstrated an ongoing pattern of late payments, untruthfulness, and evasiveness, or, if we believe there may be an unstable situation (i.e. -spousal breakup, substance abuse) eviction may be the best thing to do. Each case is unique and we make our decisions based what is best for you and the property in the long run. Our Eviction Protection Program goes a long way to help alleviate the costs of this process to the owner.
Our standard policy is $100 more than the rent. I.e. if the rent is $1000 then the security deposit would be $1100. However, there are many factors that could change the amount. Pets are not allowed without an additional deposit. Normally $400 each minimum with a maximum of two pets allowed. (We would also have to have prior approval from you to rent to pet owners). Higher security deposits are necessary due to weak credit, short Tenant rental history and other factors. Maryland Landlord Tenant Act restricts security deposit to a maximum of two months rent. This policy may seem stern, however, over the years we have learned "It is better to have a good vacancy than to have a bad tenant".
WE DO (Professional Property Services, Ltd) We are required by law to account for all tenant's security deposit in a separate escrow account. Any deposits that we receive will be held in our Special Security Deposit Trust Account, which must be kept in a Maryland Banking Institution.
If a tenant breaks their lease, they usually give us two month's notice. We attempt to re-rent the property advising them that they are responsible for the rent until we do. They are also responsible for the Leasing Fee to find a new tenant, and any fix-up costs needed. if they skip out on the lease or are evicted for failure to pay rent, we make every effort to collect any fees, costs, or loss of rents from them through legal process or collections, after forfeiting their Security Deposit. However, any actual costs, i.e., advertising, legal, workers, etc., that are not collected from the tenant will be charged to you.
There are several ways we have to know this. Most important is very careful tenant selection. We do our utmost to rent to only qualified, responsible tenants. During the tenancy, we may stop by to say hello and take the occasion to enter the property. Our repair or maintenance people are instructed to report any reasons for suspicion that the tenants are not taking care of the property. In the 9th month prior to renewing a lease we will make an appointment to walk through the property to check the systems. All properties receive periodic drive-bys. If the outside is not being maintained as it should, we will call the tenant and request permission to inspect the inside. We also offer a "Filter Exchange and Safety Inspection Program" for three additional visits (every 3 months) for a nominal fee.
We give them an opportunity to correct the situation by sending them a letter listing the problems, and in most cases, usually they will. We will consider allowing a pet, with the owners' permission. We require a Pet Addendum and a "PET DEPOSIT" to be paid per our lease agreement. We follow up with a visit to the property. If the problem continues or the pet deposit is not made we will notify the tenant's of their lease violation, take appropriate action and give them notice to vacate.
Tenants may telephone their requests, mail, e-mail or fax them to us. If we receive a phone call, we also ask the tenant for follow up the request in writing so we have a record of the issue. When we do receive a written request, we contact the tenant and have them explain the problem to us. If it is something out of the ordinary, or not easily described, we usually go to the property and investigate before sending a service person. We make sure it is not something we can have the tenant fix themselves (ex: reset button on the food disposal or tripped ground fault breaker or reset the lever on the well pressure tank). After determining that it is a legitimate problem, we will send the appropriate service person, who then reports back to us. If the repair is a MAJOR repair, we will contact the owner for permission before the repair is done. If it was determined by the service person the problem was caused by the tenant, the repair will be made and we will then charge back the tenant for the service call.
Staying on top of maintenance and repair work is critical to preserving your property's value and developing and protecting a great tenant-landlord relationship. Delays or skimping out on necessary repairs is a recipe for lost property value and a damaged reputation. We must stay true to our lease agreement and our word. That will go a long way toward reducing risk and preserving our reputation in the market.
Positively, Our policy is this. If something may cause an interruption in your cash flow (loss of tenant or major repair), as soon as we know, we will promptly notify you. Other than that, the old adage "no news is good news". We do encourage you to call on our toll free line 888-360-6717 (It was installed especially for our out of town clients), or email us at firstname.lastname@example.org. If a work order is generated, or an invoice is paid, our software notifies you on your secure owner protal. Invoices are also scanned and can be viewed or printed from your property portal.
We will pay as many bills and expenses as you would like us to handle. Maintenance and repair expenses, utilities, insurance, Homeowners fees, taxes, etc. HOWEVER, There must be sufficient cash flow from the property to cover such expenses. Maryland Real Estate License Law will not permit a broker to pay out monies that are not in the owners account. We do not make Mortgage payments.
We no longer mail owner's checks. We make every effort to have the owner rent proceeds in the owners bank account on the 15th of each month. (By ACH direct deposit) HOWEVER, we must wait for the tenants' rent check to clear the bank. If we receive the rent on the 5th of the month, it could take until the 15th to clear. Maryland Real Estate License Law prohibits a broker from commingling funds. If we send your rents to you and the tenants check bounces for some reason, then we are paying you out of the general fund with someone else's money. We strongly recommend to all our owners to be at least one month ahead in thier mortgage payment. This way, If something happens and your rent payment is late, it will not affect your credit standing with your lender.
Statements are online. Every owner has their own online account and you are able to access it 24/7/365. It is upoaded each month after payments are made to the owner. The statement will show all currant income and expenses for the accounting period and any time frame in the past. At year-end we prepare a complete accounting statement for each property owned and the IRS tax form 1099 for your accountant. Copies of all original invoices and receipts for any maintenance, expense and repairs are scanned and stored on your owner's portal, which may be accessed at any time and from anywhere with an internet connection. All data on your property is stored in a state-of-the-art data center in the cloud.
Definitely YES, We direct deposit owners proceeds into there bank account.This is on the 13th of the month and should be in the Owner Account by the 15th.
We typically hold a minimum of $500 per unit for minor repairs. If used, we replace it when the rents are paid. If there are major repairs approved by you, the owner, we will pay the vendor when we collect the rent. If the repairs are going to cost more than the rent, we advise you and request a check to cover any anticipated shortage in your rental account. We will then pay the vendor. Maryland Real Estate License Law forbids a Licensed Real Estate Broker to allow an owners' individual account to become negative.
No. But we don't use the most expensive either. We use qualified contractors on an "as needed" basis. By handling our property maintenance this way, we have compiled an extensive list of available service people and their specialties. These service firms know that they will be treated fairly and paid on time so they respond to our repair requests in a timely fashion. Our maintenance service people are market price competitive and extremely competent and reliable. All of the trades' people we use must be licensed by the state of Maryland and must be properly insured. In most cases we are able to get preferential service at competitive pricing, and any savings are passed on to the owners as an added value to our services.
Our management agreement spells that out very clearly. Together we set the limit at the time you employ us. Typically, any expense of $500 or more must be authorized by the owner - UNLESS IT IS AN EMERGENCY. For normal maintenance and repairs, we take care of it without bothering you. You will see the invoice in your owner's portal when your receive your owner statement. If we suspect something might exceed our agreed limit, we will call or email you and discuss the options and make suggestions or recommendations. For example, some owners will choose to repair an older broken appliance while another owner might want to go ahead and buy a new one. We let you make those decisions based on your current situation. Sometimes a large expense, like a water heater that needs replacing, is unavoidable. In an emergency or those cases where the health or safety of a tenant is an issue, we will initiate the repair work and give you a courtesy call or email to let you know what is happening and what we are doing about it.
We require our owners to carry and maintain a Landlord-Owner-Tenant Insurance policy covering liability and any disaster that may happen to the property (fire, flood, etc). We keep a copy of the binder in the file and are listed as "additional insured or interested party." If there should be a disaster, we have the ability to immediately initiate contact with adjusters, contractors, etc. to help facilitate remedies as quickly as possible. We also require the tenants to have their own "Renter's Insurance" to cover any loss they may suffer, anything that may be their fault, or their own liability coverage.
We cover this when we go through the management agreement. We will be happy to use your preferred trades people (Even if it is your brother-in-law). They must perform their work in the same expedient and professional manner that our regular vendors do. They must also be licensed and insured to perform the work. This is to protect all concerned. Our professional reputation, both with tenants and owners, is determined, in large part, by how well we handle maintenance. This is very important to all of us.
Our management fees are based on the service we provide. There are several factors, age and type of property, rental license requirements, lead paint free or requiring treatment and inspections, scheduled rents, services requested, location, condition of the property, etc. Is the property currently tenant occupied with a good, or a problem tenant? Our management fees are fair and competitive based on the gross collected rent each month. The Leasing Fee is a percentage (%) of the first month’s rent for a new tenant and a modest lease renewal charge for maintaining and retaining good current tenants. All advertising costs are passed through to the owners. We can give you a firm price for leasing and managing once we know more about your property and your needs and desires.
There is a one time set-up charge of $300 for each property that is already occupied and a $75.00 year-end administrative fee to cover the year-end 1099 tax form, statements and account ledgers for your accountant to prepare your federal and state income taxes, document reproduction, long distance calls and overseas calls (you call us FREE using our "888" number), postage, mail certification, mileage, document storage, HOA Disclosures, utility bills, bank transfer charges, online account access or other incidental costs incurred by Agent to maintain owner's account. We don't mark up maintenance costs. The only other expenses you could incur would be for services that fall outside the normal scope of our management agreement (such as negotiating and contracting and overseeing a major renovation or insurance claim). That would not happen without discussion and a separate agreement between us.
We can start the process immediately. Contact us so we can converse and make sure that our thoughts and ideas about property management and rental ownership are compatible. lf so, we will be happy to mail you an entire package including a management agreement. If you currently have a manager you will need to discontinue their services, according to your agreement, before we would be able to manage the property for you. We will also need:
- The name and contact information for the Homeowner's Association.
- A copy of the covenants & bylaws for your HOA.
- Keys for all doors and garage door remotes.
- Keys and access information for any community amenities to be included.
- Utility company information for all services to your property.
- Property insurance company contact info (be sure to convert it to Landlord policy)
- Check in the amount of $250 to begin advertising.
- Verification that all mortgages, property taxes, and HOA fees on your property are current and paid.
The National Association of Residential Property Managers (NARPM®) is the nation's only professional organization for managers of small residential properties, from single-family units to small multi-unit apartment buildings.
The NARPM® Mission is to support the professional and ethical practices of rental home management through networking, education and designation.
NARPM® is an association designed for real estate professionals who know first-hand the unique problems and challanges of managing single-family and small residential properties. NARPM® offers an effective, professional learning environment for owners of property management companies, property managers and their office staff. There are currently over 6,000 members nationwide with members representing billions of dollars in residential rental properties. NARPM® was founded in 1988 for licensed real estate agents and brokers who specialize in residential property management. NARPM® addresses those issues specific to the industry and provides a valuable opportunity for residential property managers to network and problem solve. NARPM® offers many benefits to both owners and managers alike. Its strict regulation of its members ensures that those property managers associated with NARPM® adhere to a high standard of ethics and professionalism, as well as offer the utmost in quality service. NARPM® assists its members by providing the most up-to-date legislation and information with a strong emphasis on Education both on the National and the Local levels. NARPM® has several designation programs that require each individual or company to work diligently to reach the top of their profession. They are RMP®, MPM®, CRMC® and others for staff. Those who strive to achieve these standards of excellence truly epitomize everything NARPM® stands for: knowledge, Professionalism, and integrity.NARPM®'s goal is to promote the highest standard of excellence, ethics, professionalism, and fair housing practices in residential property management. For more information, go to http://www.narpm.org/
Master Property Manager (MPM®)
This professional designation is awarded to property managers who have completed the highest levels of achievement, including advanced course requirements, completion of their RMP® and service to NARPM®. A detailed examination of the applicant and letters of recommendation from clients and peers are required for certification. This prestigious designation is held by fewer than 100 property managers nationwide and reflects the professional commitment made to the industry by the designees. For more information, go to http://www.narpm.org/.
Residential Management Professional (RMP®)
This professional designation is awarded to property managers who have completed extensive course work and service projects to both their chapter and NARPM®, and have demonstrated dedication to the property management industry. Fewer than 275 property managers hold this prestigious designation nationwide. For more information, go to http://www.narpm.org/.
Certified Residential Management Company (CRMC®)
The highest and most important Designation a company can obtain. The Certified Residential Management Company (CRMC®) Designation is the highest designation offered by NARPM®. This designation signifies that the company meets the professional standards of the industry. Professional Property Services, Ltd. is in the process of working toward and attaining this designation.
Although this rarely happens, it has happened. If this were to happen, simply refer the tenant back to us and we will work with the tenant to address any concerns. Don't get in the middle. Both our management agreement and our lease agreements have a clause that strongly discourages communication between tenants and owners. It could create an environment where tenants try to bypass management to reach the property owner directly. If this occurs, no one will win but the tenant, and we will not be able to do the job you have hired us to do. "He said, she said..." can create serious problems between owners, tenants and management, and we would not be unable to protect you if a legal issue should arise.
In nearly all cases, the answer to this is "No." The three most common HOA violations are weeds, trash cans and parking. Plus, some HOAs are very nikpicky. So more times than not, it is a minor infraction that is being cited by the HOA and we will contact the tenant regarding complying. Our lease language holds the tenants accountable for all compliance requirements and fines, unless it is an issue with wear or repair of the building that is not their fault.
Safety of one's personal residence is a basic right to any occupant of a property. In order to insure the optimum safety of the new Tenants all locks on all exterior doors must be rekeyed or replaced the day before or the day of granting possession to the new Tenants. All exterior door locks will be keyed alike so that only one key will operate all doors.
For the reasons above, we must control who has possession of a key to the property while it is under lease and occupied by a tenant. We provide new keys to the tenant and keep a copy in our office in a secure key safe. The sole purpose of keeping these keys is for access in an emergency and when authorization of use is obtained from a resident for access by a contractor. We do not give the owner a key in order to limit your liability should there be a problem.
It depends on the reason for the vacancy. If it is being painted and "Made Ready", there is no fee. Otherwise we charge a custodial fee equal to the monthly management fee if it remains vacant longer than two months.
If your investment is a property that you have lived in and called your home, we understand that there is a strong emotional attachment to it. However, once you have moved on and decided to keep your home as a rental, please try to remember that it is now a business and an investment, and in doing so you cease being a homeowner and become a real estate investor with many new and different responsibilities. Although most tenants take very good care of the rental, they will never take as good care as you did. It's best not to dwell on these issues. Unless there is major damage, it is not difficult to bring the property back to the way it was, either for tenant turnover, sale or if you need to move back in.