|Specialty||# of Agencies|
|Single House or Condo||30|
|Home Owners Association||25|
|Total Local Companies||55|
Maryland Rental Market Overview
Smart Money Thrives in Maryland
According to a recent State Median Household Income Pattern report by the U.S. Census Bureau, Maryland has the highest median household income in the United States. While a portion of these results could be attributed to Maryland's small area and dense population, successful rental property owners also recognize the state's commuter-friendly proximity to the recession-resistant Baltimore-Washington metropolitan area. Studies by the Economic Alliance of Greater Baltimore and the Bureau of Labor Statistics found that this combined statistical area ranks among the highest for most educated and highest income-earning inhabitants in the United States--and those tenants who rent properties in Maryland already know--and expect to--pay less here than if they lived in Arlington, Alexandria or Washington DC.
Find and Retain the Best Tenants for Your Maryland Rental Properties
It's slightly unfair to stereotype Beltway tenants but many local real estate marketing companies group local demographics according to observed lifestyles: Single, upwardly mobile professionals with plenty of discretionary spending options frequently gravitate toward the dense, Class A luxury multiunit complexes in and around downtown Washington, wealthy young families look for homes near good private schools in Arlington and Alexandria, while practical families and recent empty nesters choose the relative rental bargains among single-homes and rural estates in and around Baltimore. Some real estate agents argue that living expenses in Maryland are half of what renters pay in Washington DC, but tenant expectations for service and support remain the same. If you're a small landlord it's not uncommon for your renters to demand the same prompt turnarounds for repairs or maintenance that they would encounter living in a fully-staffed complex just off Dupont Circle. If you're slow to deliver, you risk losing your renters to another landlord who can provide those amenities. That's why many independent property investors and do-it-yourself landlords rely on the guidance and services of Maryland property management companies. Whether you're looking for a little advice on property marketing or complete support in all areas of property management, Maryland features an extensive selection of real estate professionals who can help you find and retain the best tenants for your investments. Review our list of Maryland property management companies and request your free information today.