Property Management

Investment Property Solutions, Inc. is a full service property management service that caters to the needs of the small investor. Investors who hold 1 to 20 properties and who work a regular job are our niche clients.

We consider ourselves to be the concierge of investment real estate and no task is too small or too large for us to do. In addition to basic property management activities, IPS specialize in bringing properties into compliance with the state of Maryland's extraordinarily stringent lead paint laws. Our sub-contractors are certified lead paint abatement contractors/workers and we have a cadre of accredited lead paint inspectors at our disposal. As your property manager IPS can add significant value to your investment and as many seasoned real estate investors will tell you a good management company is worth their weight in gold.... And we are a GOOD management company!  Here are a few ways that we at IPS earn our keep:

  • Tenant screening - Think of tenant screening as the moat and draw bridge around your castle. It is certainly possible to get a bad tenant out of your home once they are in, but it’s a real hassle and you are so much better off never accepting them in the first place. A thorough screening process generally results in reliable tenants that - Pay on time, rent longer and put less wear and tear on the unit. As an experienced property management company, IPS has seen thousands of applications and know how to quickly dig for the real facts about candidates and analyze that information for warning signs. By allowing us to handle the screening, you will also be shielding yourself from rental scams directed at owners, and lawsuits, such as lead paint. This kind of experience takes time, and insomuch as it means avoiding bad tenants, scams and lawsuits it is arguably one of the most significant benefits a property management company will provide. While the final choice of tenants is always decided by you, we assist by digging into the background of prospective tenants.
     
  • Fewer costly and time consuming legal problems - Veteran landlords know it only takes one troublesome tenant to cause significant legal and financial headaches. IPS is armed with the knowledge of the latest landlord-tenant laws and will ensure that you are not leaving yourself vulnerable to a potential law suit. Avoiding a single law suit can more than pay for the property management fees, and spare you time and anguish.
     
  • Tighter rent collection process - The way you handle rent collection and late payments can be the difference between success and failure as a landlord. Collecting rent on time every month is the only way to maintain consistent cash-flow, and your tenants need to understand this is not negotiable. By hiring IPS as your property manager, you put a buffer between yourself and the tenant, and allow us to be the bad guy who has to listen to excuses, chase down rent, and when necessary, evict the person living in your property. If you let them, your tenants will walk all over you. They have to be trained to follow every part of the lease or deal with the consequences. We have an advantage because tenants realize that, unlike the owner, we are only doing our job and are obligated to enforce the lease terms. Regarding evictions, there are strict laws concerning the eviction process, and doing it wrong, or trying to evict a "professional tenant" can be a MAJOR fiasco. IPS knows the law and has a good process for obtaining the best possible outcome given the circumstances. Never having to handle another eviction can be a compelling reason to consider hiring us as your property management company. 
     
  • Assistance with taxes - Investment Property Solutions can help you understand which deductions you can claim, as well as organize the necessary forms and documentation to make those claims. Additionally, the 10% property management fees themselves are also tax deductible.
     
  • Maintenance and repair costs - Good maintenance and repairs keep tenants happy and preserve the value of your investment which make them a very important part of land-lording. By hiring IPS you gain access to our network of licensed, bonded and insured contractors who have already been vetted for good pricing and quality work. This can translate into significant savings compared to going through the yellow pages and hiring a handyman yourself. Not only are we able to get volume discounts on the work, we also know the contractors and understand maintenance issues such that we are capable of intelligently supervising the work.
     
  • Increase the value of the investment - Preventative maintenance is achieved through putting systems in place that catch and deal with maintenance and repair issues early on, before they grow into larger more costly problems. This requires a written maintenance check program, detailed maintenance documentation and regular maintenance visits. IPS can also offer you suggestions and feedback on upgrades and modifications, both how they will affect the rent you can charge, as well as their impact on maintenance.
     
  • Personal benefits for owners - Less stress - Avoid having to deal with middle of the night emergencies, chasing down rent, evicting people from your property, tenants who wreck your property, rental scams, lousy vendors, piles of paperwork.
     
  • More freedom - Live and invest wherever you want without the constraint of needing to be near your properties. Additionally, you can live and travel without the requirement of always being available in the event that your tenants have a need you have to tend to.
     
  • Free up more of your time - Time is money, and for many investors, their time can be more profitably spent in areas other than servicing their properties. With IPS as your property management company you will be able to focus working ON your business instead of managing your own properties and working IN it. Additionally, you have more time to spend with family or friends doing things you enjoy.