Should I Raise Rent? Rent Collection Services in Glen Burnie, Maryland

Image may be NSFW.
Clik here to view.According to U.S. Census Bureau data, while the national vacancy rate dropped from 8.4% to 7.4% between 2009-2011 and the number of households that rent grew from 34.1% to 35.4% during the same period, many metro areas saw rent decreases. So what does this mean for you?

As a landlord, you are faced with one very difficult question each and every year; “Should I Raise Rent?” Raising the rent is always a tricky prospect. Unfortunately, there is no cut and dry answer either. It all depends on several factors, including:

1. Location: What is the market like in your area? Are there a lot of vacancies in your area? If so, your tenants are less likely to stand for an increase in their rent.
2. Marketability: Raising the rent instantly scares some potential renters away.
3. Vacancy: Raising the rent will undoubtedly cause a renter or two to pack up and leave. Can you afford to have your rental property sit vacant while you search for a new tenant?

Obviously there are some pros and cons to raising rent. You obviously have overhead. After all, there are inherent costs associated with running a business. And then there are those unexpected costs, like repairs. Then, on the other hand, there is the cost of marketing and finding a new tenant. Not to mention you are losing money while your rental property sits vacant.

In the end, the choice is yours.

While we cannot help you make the decision to raise rent or not, we can help you collect your rent!

Rent Collection Services in Glen Burnie, Maryland

Auburn Rose offers professional, yet personal, property management services in Anne Arundel County, including Glen Burnie, Pasadena, and Annapolis. We handle everything from marketing to tenant screening to maintenance to rent collection and bookkeeping.

1. Rent Collection: We know that rent is the lifeblood of your business. This is why we are aggressive in our rent collection policies. We take rent payment very seriously. Our policy states that rent is due on the 1^st of the month. It is late by the 5^th day. We file for eviction on the 6^th day. No exceptions! We will also handle the eviction proceedings and Maryland court appearances. More information is available in our Eviction Q&A.
2. Prompt Payments: All statements and rental checks are sent to you by the tenth day each month.
3. Bookkeeping: Auburn Rose will do all the paperwork for you.

And this is just the beginning of what Auburn Rose can do for you and your rental property. To learn more about our Rent Collection Services in Glen Burnie, Maryland or any of our property management services, please do not hesitate to contact Auburn Rose Property Management by calling (443) 928-2220 or visit our website today! You can also follow Auburn Rose on Facebook, Twitter, LinkedIn, and Google+.