There are many events in our lives in which we must depend on the training and expertise of others such as doctors, attorneys, airline pilots, etc. However, the care and management of a rental property does not have to be one of those times.

Of course, this assumes that you are in a position to devote the time and energy necessary to become your own expert in the areas of comparable market pricing, Federal and State fair housing laws, lease contract negotiations, tenant credit verification, rent collection, late rent collection procedures, security deposit regulations, providing prompt everyday repairs and upkeep, quick and cost-efficient repairs of major items, all the while operating within the Landlord/Tenant rules and regulations dictated by the State and various local jurisdictions. 

Did you know that the laws concerning Landlord/Tenant rules and regulations take up over 110 pages in the Annotated Code of Maryland, and that the typical punishment prescribed by the Maryland Courts for landlords who do not follow these rules requires that the landlord make a payment to the tenant of up to three times the amount of the tenant's security deposit?

As a landlord, you will quickly come to realize that the modest monthly fee charged by most professional property managers easily pays for itself many times over in the course of a typical lease.