I am a Maryland homeowner (Columbia) and recently purchased a home for investment in Frederick. I settled on the second house in November and the owner rented the property back until late December. At the present time I’m working with property manager to get a tenant in the house but we cannot find one that is qualified. We’ve lowered the rent about $100 and still are having problems. The home is in a great area of Frederick and I did my homework on the best area and commuting location to DC and Rockville.
I’d like to know if the difficulty in finding decent renters for investment property in Maryland is a common thing these days and if this trend will continue? I’m presently living overseas and have a renter in my primary home…not having a renter in the second property is troubling me and I wonder if this is common in Maryland?
I’d appreciate any advice or comment on my situation.
I live in New York and bought some property in the city of baltimore and had no problem renting it out.the property is located near john hopkins hospital and the tenant is part of the relocation process so she pays me 300 a month and john hopkins pays me 550.
She keeps the place really clean. I have a friend also from NY that has a lot of properties and rent them out to Section 8 and they keep the place clean as i was worried if i got a section 8 or a east baltimore relocation tenant in they would mess the place up but they seem to be good tenants. They are in the property over 6 months now.
I live in MD and am interested in rentals in B’more city. How would I find East Baltimore elocation tenants?
Also, does anyone have a good management company?
I believe the reason it is more difficult to rent the Fredrick house is becuase potential renters (working folks with good credit) are buying because of the interest rates and appreciation. The rental market is soft right now. It is a harder time for buy and hold investors as opposed to traders or dealers who trade (flip). You may want to try placing an ad on a base (military). Try hiring a property manager.