Linda Bass Yaffe

Tenants BeWare – Are you Renting from a Reliable Landlord?

Do you know the financial status of your Baltimore Landlord? Make sure you use a Property Manager that has done their homework!

Today, Sellers are turning into Landlords.  Those who cannot sell their homes are pushing them into the rental market. 

The issue that is creeping up across the country and in Baltimore is that some of these Landlords are not financially responsible and their mortgages are not in good standing with the bank.  Tenants are then receiving eviction notices from the banks because the Landlord’s property is being foreclosed.

How do you know if you are renting from a reliable Landlord?

You don’t.

You don’t know that your Landlord is reliable if you are renting from a property owner directly.

So, when a Tenant receives an eviction notice due to the Landlord’s foreclosure…what are the Tenants rights?  Does the Tenant have to move out immediately or can they stay through the length of their lease term?  Do they have any rights to collect their security deposit?

I recently read an article that addressed this very problem in California.  It provided helpful hints for those Tenants who find themselves in this terrible situation.  

http://rismedia.com/2010-08-14/tenants-of-foreclosed-homes-often-unsure-of-options/

So, what is the best way to avoid unreliable landlords in Baltimore? 

Rent a privately owned home from Yaffe Property Management.  We offer the best of both worlds…a privately owned home (as opposed to an apartment) and a property that is in good standing with the bank. 

Yaffe Property Management fully screens Landlords to ensure that they are not in danger of foreclosure.   This keeps our Tenants safe and secure in their rental property for their entire lease term.

The moral of the story is that Tenants really do need to do their research before signing a lease.  You don’t want to find yourself coming home from work one day to an eviction notice…what a headache!

Call Yaffe Property Management today to discuss the current rental properties we have available…410-902-1100!  We want to help you find a great home free from hassle!

3 Reasons to Use Yaffe Team Property Management

Are you stressed out about the idea of managing your rental property?

Yaffe Team Property Management is here to help you!

We are here to take away your stress and ensure that your property is in good hands. There are so many reasons to use Yaffe Team Property Management to manage your property…here are just a few of the most important.

Why Use Yaffe Team Property Management?

1. We are Your Insurance Policy
   • Yaffe Team Property Management is aware of all of the rules and regulations within the county that landlords must abide by. We will make sure that your property is abiding by these rules and regulations so that you are not in danger of running into issues with the county down the road.  Yaffe Team Property Management will also manage your home so that you are not receiving calls in the middle of the night from your tenants. We will coordinate with you, the tenant as well as maintenance workers to fix any issues that arise so that you can move on and enjoy your life without stress.
2. We will Qualify Your Tenants
   • Yaffe Team Property Management will qualify your potential tenants in multiple ways. We will check credit scores for all individuals of age living in the property.  We will also check rental history, criminal background and employment.  We run these checks to ensure that the tenants you select will be able to maintain your property and pay the rent.
3. We are a Seamless Transition
   • Yaffe Team Property Management is not only a management company; we are also a Real Estate company.  So, we are able to manage your property while you wait out the market to eventually sell. Our landlords are not in the business of being landlords forever…that is why they hire us.  They have an ultimate goal of selling their property down the road.  We will manage your property while you have tenants and will then market your property for sale when you are ready!

Let us be the expert so that you don’t have to…Yaffe Team Property Management will take on the responsibility of finding and qualifying tenants and managing your property.  When it is time for us to market and sell, your property will have been well maintained and ready for the market.

Yaffe Team Property Management is here to help you.  Contact us at 410-902-1100 to discuss property management today!

Should You Rent or Sell Your Baltimore Real Estate? What is Your Best Option?

Whether to Sell  or Rent your home can be a difficult decision in Baltimore Real Estate today.  The winter months are quickly approaching, which in the Baltimore Real Estate world typically indicates less buyers in the market.  So, what do you do if you are trying to sell your home?

Well, you may have a couple of options depending on your situation,

Continue to list your home  – OR – Rent out your home

If your home has been on the market for a while and you are in a situation where you are still living in your home, just waiting for the right buyer, then renting out your home is definitely not an option.  You are definitely in the market to Sell, but how do you stay current in the market with the winter months approaching?

2 Tips to Stay Current When Selling Your Home

1. Price Reduction
   • If you find yourself in a situation similar to the one just described, you may want to consider a price reduction to stay current with the market.  Since there is not an influx of buyers during the cold winter months, it is important that you do everything possible to make your home more attractive to the buyers out there.
2. Staging
   • Another great idea is to make sure that your home is staged properly.  A home filled with the right furniture will show better and be more attractive to buyers, especially during the dreary winter months.

If you find yourself in a situation where your home has been on the market for a while, but you are no longer living in your home, you may want to consider renting out your home.  The decision to rent out your home may seem scary, but there are a couple of really great advantages.

3 Advantages of Renting Your Home

1. You Will Have Money Coming In
   • Why not have a tenant pay a monthly rent to you to help you cover your mortgage each month?  You may even be in an area where your tenant would cover your full mortgage!  So, why lose money each month when you don’t have to.
2. Your Tenant Will Maintain Your Home
   • While you have a tenant in your home, they will be keeping an eye on the property, cleaning the property and ensuring that you don’t have major maintenance issues like frozen pipes.  This is a strong advantage especially if you have moved out of town and are unable to maintain your property yourself.
3. Your Home Will Not Sit Vacant
   • Having a tenant means that your property will not sit vacant for an extended period of time.  When it comes time (in a year or so) to put your property back on the market, you will have a house full of furniture, not vacant.  After all, a home with furniture will typically sell much faster than one without!

There are definite advantages to selling and renting your home. Either option is great it really just depends on your situation as to which one is better for you.  It is a tough time in the market right now, so if you are having difficulty selling your home, it may be time to consider other options such as renting.  Yes, renting your home can be scary, but we are here to help you.

Yaffe Real Estate is a two-fold business here – Sales & Property Management!  Please contact us at 410-902-1100…we are happy to assist you with Selling or Renting your home!

How and When to Winterize Your Baltimore Home or Investment Property

Do you want to end up with burst pipes in the middle of the winter because you forgot to clean out those hose bibs or watch your home go up in smoke because you did not check the smoke detectors?

Fall has arrived and Winter is quickly approaching!  Along with all of the beautiful snow, Winter also brings freezing pipes and other maintenance related issues.

When to Winterize in Baltimore

Do you know how and when to winterize your home or rental property?  Winterizing your property is important each year in order to avoid serious maintenance and safety issues.  We recommend that the Fall Equinox is a great time to start thinking about winterizing. As the temperature starts to drop you should be prepared.

3 Tips to Winterizing Your Baltimore Real Estate

1. Hose Bibs and Plumbing Freezes
   • No one wants to deal with plumbing freezes in the dead of winter.  So how do we avoid this?  You want to make sure that you shut off your hose bibs.  There are 5 easy steps to shutting off your hose bibs:
     1. Find the Cut Off Valve
     2. Turn Off the Valve
     3. Remove the Hose from the Spigot
     4. Drain the Water from the Hose Bib
     5. Leave the Tap on the Spigot Open
2. Test Smoke and Carbon Monoxide Detectors
   • It is the right time to test your smoke and carbon monoxide detectors and replace batteries if needed.
3. Check Furnace & Filters
   • Check out your furnace and call a professional if anything is not working properly.  You will also want to stock up on filters so that you are prepared to change them regularly.

It is always better to prepare for the Winter instead of waiting and having to clean up a mess later.  The maintenance issues that Winter causes without preparation can be severe and costly.  Don’t get caught off guard…take small preparations now so that you are not kicking yourself later!

Please leave a comment below to let us know any tips you have for winterizing your house.