It’s rarely a simple decision to sell an investment property. Making this decision is as much about your personal circumstances as it is the current real estate market. Currently, vacancy rates for rental properties are at an all-time low, while home prices continue to stay high post-pandemic. The demand for rentals has increased, but so […]
Choosing a property management company for your rental property means selecting a partner to assist with your investment. As such, picking the right property manager is crucial to your income property’s success. The right property manager can help your investment run smoothly by maintaining tenant relationships, minimizing vacancies, and being proactive about maintenance. A good […]
Keeping your income property safe is important for more than just your tenants. Preventing disasters such as fires can protect your rental home from damage and ensure your investment continues to run smoothly. Fires are more common than many landlords realize. Even a small fire can result in significant property damage, while larger fires can […]
Buying a property in a community with a homeowner’s association (HOA) can be challenging for those looking to purchase an income property. These associations have specific rules and regulations, so it’s important to review them before purchasing a property there to understand what limitations you will need to abide by. As the amount of investors […]
A significant part of managing a rental property is managing the funds you need for maintenance and repairs. Even the newest, best-kept properties still require maintenance, especially when you have renters coming and going. For planning purposes, how much should you budget for rental property maintenance? While there’s no set amount to keep on hand, […]
Even if you don’t have a mortgage on your income property, it’s still important to have insurance as a landlord. Landlords need a specific type of property insurance geared towards rentals, which can help protect the property against damage, natural disasters, and potentially even the loss of rental income. Insurance for landlords is essentially property […]
As the real estate market continues to shift, it’s not easy to decide whether to sell or rent your home. While selling your home to have money for your next purchase or investment can make sense, renting allows you to potentially build a long-term source of income and keep your property. So what are your […]
So your tenant is moving out and wants to know when they will get their security deposit back. The security deposit is typically one month’s rent; however, in Maryland, a landlord can charge as much as two months’ worth of rent for the deposit. If your tenant has paid their rent every month, abided by […]
Although landlords are responsible for repairs and some maintenance of their income properties, tenants play a significant role in day-to-day rental property care. Your lease should clearly stipulate who is responsible for what maintenance, especially tasks that have the potential to impact a tenant’s safety, such as snow removal and roofing damage. But exactly what […]
Inspecting your income property is an essential part of being a landlord. There are different types of inspections, both when the property is vacant and when you have tenants. Keeping up with these inspections can help protect your investment, improve your relationship with renters, and keep maintenance costs to a minimum. What are the different […]
There’s been a surge in rental demand since the pandemic, and it doesn’t look like it’s waning anytime soon. As home prices have skyrocketed, it’s more difficult for buyers, especially first-time homebuyers, to purchase a property. Although rental prices have increased too, rentals are more affordable for buyers who don’t have the money for a […]
Extreme weather is becoming more common, with flooding and severe storms on the rise. Even if your income property isn’t located in a flood zone or a particularly hazardous area, more buildings are vulnerable to damage from extreme weather today than before. Hurricanes, snow storms, and severe thunderstorms are just a few of the weather […]
Having strong relationships with tenants is an important part of being a landlord. After all, your tenants are your livelihood. You want to ensure your tenants feel welcome, taken care of, and content in your property. Happy tenants are also more likely to renew their lease when the time comes, saving you the time and […]
When you’ve decided to have a property manager step in and help you with some or all of the responsibilities associated with your rental property, you need to find the best DC property management company for your particular needs. The right property manager can not only help you maximize your investment but can become someone […]
Successfully running an income property requires different roles and responsibilities. If you’re a landlord managing your own income property in Washington DC, you know this to be true. You need to manage finances and taxes, coordinate repairs and maintenance, and schedule inspections and lease updates, to name a few tasks. When you’re managing more than […]
When you have an income property, you’re faced with the decision of handling maintenance yourself or hiring a property manager to handle maintenance for you. Although some property owners think they can save time and money by handling maintenance themselves, the opposite is often true. Is a property manager the right choice for your rental […]
Having an investment apartment or apartment building in DC or Maryland is an excellent opportunity to generate extra income. However, maintaining your units is essential for your property value and attracting tenants, as well as keeping your current renters happy. The following are our top five investment apartment maintenance tips for landlords in Washington DC […]
The lease is a crucial component of your income property. As a legally binding contract, the lease doesn’t just detail how much rent your tenants will pay and when it’s due. It essentially outlines the terms of your relationships with your tenants. As such, it should include the responsibilities of each party, the length of […]
Vacancies in your rental property can quickly tank your profits. Ideally, you would always have your income property rented, but the fact is that vacancies often happen between renters. Whether you are trying to fill an unexpected vacancy or are advertising a new income property, here are five tips to help you rent your property […]
As a landlord in Maryland, you want to do everything you can to protect both you and your renters and reduce your liability. However, accidents do happen. In events where the renter’s personal items have been damaged, they need to have a renters insurance policy. Renters insurance is an affordable way for renters to protect […]
Property owners may have the option to get a home warranty when purchasing their income property. Home warranties allow the homeowner to have certain systems or appliances repaired or replaced when they break for a discounted price. Home warranties may make sense for traditional homeowners, but do they make sense for rental properties? With the […]
Cold weather brings its own unique set of challenges for landlords and tenants. Tenants can experience hazards such as icy walkways, ice dams on roofs, and bitterly cold temperatures. As a landlord in DC, it’s essential to ensure both you and your tenants are prepared for the winter weather when it comes to your rental […]
Although each property management firm can structure its fees differently, you need to know what is included in the cost. Some landlords define property management and maintenance as the same thing, but not every management company thinks this way. In fact, property managers may consider the day-to-day management tasks as entirely separate from actual property […]
A growing number of renters have pets, so allowing pets at your income property as a landlord can help increase your potential pool of tenants. Allowing pets certainly has its pros and cons. However, there are a few things you can do to protect yourself and your property when permitting pets at your rental. These […]
As a landlord, your lease agreement with your renters is legally binding. That is, if you have a lease that’s legal according to your state and local laws and is specific to your property. Purchasing a standard lease and filling it out doesn’t always protect you and your tenants throughout the lease term. Your lease […]
If your previous tenants took good care of your income property, you may not think it’s necessary to have the unit professionally cleaned before renting to new tenants. However, even if the property looks fine, having the space professionally cleaned is important for a few reasons. What exactly is a professional cleaning, and why does […]
Every landlord wants their rental property to be as efficient as possible. From maintenance routines to energy efficiency, cutting costs and reducing your effort as a landlord can help make a more profitable—and stress-free—investment. Making changes toward better energy efficiency for your rental property doesn’t have to be expensive or overwhelming. Simple changes can often […]
Owning a rental property can provide you with extra income and, over time, become a sustainable investment. However, while owning an income property can offer monetary benefits, being a landlord requires time and commitment. If you’re a first-time landlord in the nation’s capital, it’s natural that you’ll make a few mistakes over time as you […]
Landlords typically don’t want to hear that their tenants are terminating the lease early, unless the tenant has caused problems from the start. Whether or not your tenant leaving is welcome news, you have some decisions to make as a landlord in DC when a renter breaks the lease. If you’re an income property owner […]
Being a landlord isn’t easy. Taking care of your income property demands time and energy, and it’s often a 24/7 job. For many DC property owners, hiring a property management company helps them more effectively manage their investment while having more free time. Property managers can take over some or all of your rental property […]
There can be a lot of competition in the rental market, especially if you’re in a popular location or are marketing your unit during peak times such as spring and summer. If you want to improve your odds of attracting tenants and getting the amount of rent you’re asking for, it could be worth considering […]
As the seasons change, so do maintenance tasks for landlords. Being mindful of how the changing weather can affect your investment is crucial to proper upkeep as a property owner. Fall is an important time for property owners in Washington, DC and Maryland, because it precedes the harsh winters we often see in the area. […]
Furnishing your rental property is a big decision to make. A fully furnished unit generally has everything your tenants need to move in without much effort. You also have the option to do a partially furnished unit or an unfurnished unit for your renters. Whether you choose to furnish your rental property depends on your […]
If you have an income property and are thinking about selling it, consider working with a property manager first to revamp your investment. Even if you’re facing building violations, making your property more valuable doesn’t have to be complicated. You can keep your existing tenants happy, improve the state of your property, and create a […]
Part of being a landlord is having to manage tenant complaints and conflicts. It’s not fun, but it’s a part of having people rent your property. Whether there’s an issue due to miscommunication, an error, or a maintenance request that fell through the cracks, it’s important to minimize these conflicts and manage them appropriately when […]
Painting is one of the most cost-effective upgrades you can do to improve the value of your rental property. Not only do tenants tend to notice a new paint job, but it’ll also help cover the many minor imperfections that can have a big impact on their overall impression of the property, such as scuff […]
Good tenants aren’t easy to find, and once you do find them, keeping them can be challenging. Your renters’ lives change, and there are unavoidable reasons that they leave, whether to be closer to family, buy a house, or take a job somewhere else. However, some reasons tenants leave are things you have control over […]
If you have an income property in the nation’s capital, you know that keeping your investment running smoothly requires a lot of time and effort. Whether you manage your property completely on your own or have a maintenance person you hire when necessary, being both a landlord and a property manager isn’t something everyone wants […]
What happens when you’ve found great tenants but a couple months into their lease, they ask to paint your rental property? If you’re like many landlords, you’ve stuck to neutral colors such as white, beige, and maybe the occasional gray. Maybe your tenants aren’t keen on these colors, and want to change the walls to […]
Landlords in the D.C. area face many challenges that can cause stress. In order to reduce the anxieties that can impact your peace of mind, you want to be able to anticipate issues and know how to deal with them. Here are three common problems you may encounter and the best way to handle each […]
From changing seasons to changing administrations in the White House, there are many factors that have a swift impact on the DC rental market. So what can we expect in 2021 and beyond with the new administration in place? We’re only a couple of months in, but the market is already seeing changes. Good News […]
Offering incentives to your renters to get them to sign the lease can help you fill vacancies faster, especially when the rental market is unpredictable, or you’re struggling to fill your unit. Incentives can also be a useful way to attract tenants to your rental property and make your asking rental price seem more fair. […]
The past year has changed the DC rental market in unprecedented ways. The typically busy warmer months of the year for the rental market were initially stagnated by stay-at-home orders, while some tenants were changing rental properties based on financial hardships. The market has since predictably slowed, and yet, the demand for housing is high. […]
There are several reasons that tenants may choose to break a lease early, but only some of them are considered permissible under DC law. Provided your lease is legal, it’s enforceable by law, and your tenants should commit to living in the property and paying the agreed rent payment until the end of the lease. […]
If you have a home in Washington, DC with a basement, you might be tempted to rent it out. If you’re just using the space for storage or it’s sitting empty, why not take the opportunity to make some extra cash, right? Not so fast. Renting out your basement without going through the proper channels […]
Welcoming tenants to your rental property is an important part of starting your relationship with a positive tone. A great way to help new renters feel welcome and appreciated is by making welcome packages that you can place in the unit before they move in. A welcome package is typically a basket or a decorative […]
As rental properties continue to include more modern and convenient features, keyless entry systems are popular. They don’t require a physical key and can instead have a programmed code, which both locks and unlocks the property’s door. While some systems have a backup key or remote, others rely exclusively on codes. There’s no question that […]
Deciding whether to accept pets as a landlord can be challenging. While you’re obligated to accept service animals, you’re otherwise free to deny pets or place restrictions on the type of animals you approve. That being said, the majority of renters today have animal companions, and choosing to accept them means you can increase your […]
Your income property is an investment, but unless you’re effectively managing all your costs and netting your best rental income, it can be hard to see a significant profit. This is especially true when it comes to maintenance costs, whether emergency or routine. Handling your income property yourself can make maintenance a hassle. By hiring […]
Maintenance is one of the most important parts of having an income property in Washington, DC. But it can also be one of the most challenging. Knowing which responsibilities belong to you as a landlord and to your tenants is essential to keeping everyone happy and your property running smoothly. All maintenance responsibilities should be […]
As the demand for housing grows and the price of rental properties increases, roommates are becoming more and more common. Your tenant is likely requesting a roommate because it’s convenient for them—someone to share the bills and help take care of the apartment. As long as you’re still receiving your rental income, you may think […]
It’s smart to maximize your investment in your DC income property by making the appropriate updates or renovations. Whether you have your first income property or are between renters, now is the time to show off your unit to attract your ideal tenants. But you don’t want to dump a bunch of money into your […]
Furnished income properties in DC are a great way to make more on your investment while attracting a higher number of renters. People love the flexibility and freedom that furnished units provide, and if you’re renting to students or have short-term lease options, furnishings are a must. But furnishing your income property has its challenges. […]
Deciding whether or not to furnish your income property is a big decision. There are pros and cons to each choice, and it’s really about knowing who your ideal tenant is. Considering your location, unit size, and the rent value can help you decide if furnishing your unit will be beneficial or a waste of […]
The Housing Choice Voucher Program—formerly called Section 8—provides vouchers to qualified people to help cover their rent. The government typically provides these vouchers through the DC Department of Housing and Urban Development (HUD). However, they may also be provided through a non-profit organization. With a Section 8 voucher, the government or another entity will cover […]
Technology has been an immense help to those staying home as a result of the ongoing coronavirus (COVID-19) crisis. From healthcare appointments to team meetings, technology has empowered many people to stay connected and keep doing their jobs. Real estate is no different, and when you have an income property that’s on the market, COVID-19 […]
Peak rental season is upon us, yet with stay-at-home orders and other coronavirus (COVID-19) restrictions in place, showing your rental unit is more challenging than ever. While it’s not realistic to do in-person showings of your rental property at this time, you can still show your unit to potential tenants while abiding by public health […]
When looking for a new renter for your income property in DC, having a screening process in place can help you find the best person for your unit. Of course, you’ll have potential tenants fill out an application and list references. It’s your job to follow up with these references to determine if the tenant […]
Out of all your responsibilities as a landlord in Washington DC, dealing with bad tenants is arguably one of the most challenging ones. No landlord wants to have to navigate a relationship with bad tenants, whether they aren’t paying the rent, are endangering the community, or are always complaining. But what can you do about […]
Being a landlord in the nation’s capital often means dealing with leftover tenant belongings at the end of a lease or after an eviction has taken place. Whether or not a tenant has voluntarily left the property, people frequently leave behind items or trash that they don’t want to take with them when they move. […]
Deciding to work with a property management company is an easy decision, but finding a good DC property management company isn’t always that simple. The professionals you work with will determine the fee you pay, the service you receive, and how profitable your investment is over time. Working with the right property manager is essential […]
An investment property can serve you well for many years to come, but when making such a purchase, it’s essential to know what makes a particular property a great investment. While factors will vary somewhat based on the type of property—for example, a house, condo, or apartment—it’s still crucial to evaluate all aspects before making […]
When you own an income property, having a plan in place for extreme inclement weather or a disaster is essential. To protect your tenants and your property, it’s always beneficial to have a professional property manager in your corner to prepare for, navigate, and recover from events such as these. Whether it’s reviewing your emergency […]
When processing applications from potential tenants, it’s important to know certain types of background information so you can make the best choice for your new renter. You may get a good first impression of a tenant, but unfortunately, you can’t always rely on your impression to make the right decision. Doing your homework when it […]
It’s never easy to find out your tenant wants to prematurely end their lease. As a landlord, you not only count on the income from your investment property, but it’s also in your best interest to keep your unit filled, and not just for monetary reasons. A vacant unit can increase your property insurance, and […]
If you’re moving or traveling and want to transition your primary home into a rental property, there are a few key steps you need to take. Having an income property is great. Still, in order to reduce your liability and create a sustainable investment, you have to check off all the necessary steps to turn […]
The rental market in DC is always growing, make it a dynamic opportunity for landlords. However, DC is one of the most protective areas in the country when it comes to tenants. DC laws and regulations make it essential to have a proper lease when renting out your property. Don’t just go pick up a […]
Have you been managing your own income property, or have recently purchased an income property? Maybe you’ve taken some steps to set up your rental unit but aren’t sure if you’re doing everything right. Or, maybe you’re finding that managing all the details of your investment is a bit more time consuming than you’d originally […]
Managing a rental unit or several units takes time and effort that many people simply can’t dedicate to have a successful income property. Turning to an experienced DC property management company can make life easier for both you and your renters, allowing you to stress less about your investment. But what should you expect when […]
When you have an income property, you have the option of managing it yourself or having a professional property manager do it for you. Running a rental property is a business, and handling all aspects of your investment involves more than making sure the property itself is taken care of. You’ll also need to manage […]
Whether you’ve been renting out your income property for years or this is your first time as a landlord, it can be a lot of work to get a property ready to rent. Even if your unit is in good condition or is a new-construction build, not every property is automatically considered to be rent […]
As a landlord, it’s part of your job to handle the necessary repairs at your income property. Even if you have a property manager take care of these tasks for you, you still need to have disposable income ready for everything from minor repairs to emergency ones. While having available funds for repairs is essential, […]
You take precautionary measures when it comes to your investment property, but did you know that tenant notification should be among them? Proper notification for your tenants can not only help protect your investment property, but improve communication between you and your tenants for a sustainable, mutually-beneficial relationship. At FAS Management, we know that the […]
Do you have a basement apartment you’d like to rent out, or are moving into a new home and want to rent out your old place? It’s important to know that you can’t just have tenants move in—there are certain steps to take to prepare your home to be a rental unit in Washington DC. […]
When you need a property manager in DC or are considering becoming a property manager, consider that DC property managers are required to be licensed. In order to become licensed, property managers in DC must pass a test. Who does DC consider to be a property manager, and what type of license are property managers […]
With over 11,000 people moving into Washington DC every year, there’s certainly a demand for places to rent. People are looking for neighborhoods that provide a mix of quiet spaces, access to public transportation, and exciting things to do and see on the weekends. What DC neighborhoods represent the strongest rental markets? The following areas […]
If your current renters’ lease is up or you have a new rental unit you’re considering putting on the market in Washington DC, it’s important to consider your timing. Depending on your unique rental property, there are peak times of the year to put it on the market. Whether your unit is designed for a […]
Fred A. Smith (FAS) Management has been helping residential building owners in DC increase the value of their property and save money for the last 40 years. We’ve been partnering with landlords to deliver the best service to tenants and improve the efficiency and success of their DC rentals. How does our team at FAS […]
Students make up a large sector of the rental market, with an average of 44 percent of students living in off-campus housing according to The College Board. It comes as no surprise then that the student rental market is a highly competitive but lucrative industry. There are many colleges and universities in DC, including The […]
Managing your own income property might not seem like much more than finding people to move in and collecting rent every month. But what happens when the roof starts leaking at 2 a.m.? What do you do when a tenant files a complaint against you in court? Who will maintain the lawn at the property? […]
A property manager can increase the value of your investment property by providing their professional insight, experience, and efficiency for long-lasting and sustainable success. While property management companies do charge fees for their services, they’re often well worth the expenses, headaches, and time that comes with running your own investment property. So what are property […]
Property managers handle many daily tasks that are invaluable to income property owners. A property manager plays an instrumental role in keeping your investment safe and your tenants satisfied. From handling emergencies to screening renters, the right property manager increases the value of your investment property in DC. FAS Management has been in business since […]
Check out the new website launch for The Fred A. Smith Company! The Fred A. Smith Company is proud to present the launch of our new company website. Since 1946, FAS has been one of the premier residential property management companies in Washington D.C., and our new website provides new information as well as client […]
2018 will bring in new benefits to those using the online Tenant Portal. Effective January 1, 2018 Fred A. Smith Company will pay the convenience fee of $2.95 when you pay your rent online! The Tenant Portal is the most convenient way to make sure your rent is paid on time. No more possibility of […]
We thought April showers brought May flowers, well adding May’s showers we should be getting a boatload of flowers in June! Spring & Summer are wonderful seasons to be outside and enjoying this great city. Please remember to close your windows when you leave your apartment and be respectful of your neighbors by keeping the […]
We’ve been lucky lately with summer extending into October, but the cold winds are starting to blow. This is the time to get ready for those short, dark days ahead. First, the heat has been tuned on to all our multi-family buildings. If you see any leaks from the convectors or radiators, please report it […]
As renters of a single family house, please follow these tips to limit and prevent damage that freezing weather can cause. • Ensure water is shut-off to outside spigots and hoses are unscrewed and drained. The spigot shut-off is usually located inside the house within a few feet of where the spigot is located. Ensure […]
Finally the bitter cold of winter is behind us! As spring approaches, please ensure you take care of the following items at your home. Please follow these tips to limit damage the changing seasons can cause: • Ensure outside gutters and drains are clear of leaves and debris at all times. • Ensure you regularly […]
The number one, most frequent maintenance call we receive is for clogged or jammed garbage disposals. It is important to know disposal does not mean “Dispose-All”. While disposals are a handy tool for kitchen clean-up, they are not meant to act as trash receptacles for all leftover foods. Garbage disposals are designed to grind the […]
