Property Management

Our management fee is 9% of the collected rent. All Property Managers are licensed real estate agents, all properties are listed in the MLS system bringing properties the maximum exposure to be rented quickly, and we charge a leasing fee of 84% of the first months rent.

All Property Managers are licensed real estate agents who are able to utilize the MLS to determine the best market rental price. We work with the Owner to ultimately decide on final listing price.

Our property managers are all licensed real estate agents and ALL properties are listed for rent in the MLS, we cooperate with other real estate agents who are able to schedule a showing of the property to show their clients. This allows the maximum exposure for the property to be rented quickly. All listings are advertised on multiple real estate websites such as Zillow, Trulia, and Realtor.com.

All applicants are screened for credit, background, rental history, and employment. Once the application is processed, we submit the information to the owner to review. You make the final decision on who will be living in your home. While you do not have warranty, evictions are rare and this happens less than 0.25% of all tenancy.

We recommend that all Owners at least consider pets case by case, subject to certain breeds, sizes and number of pets – most applicants do have pets. We recommend that Pet Rent is added to the monthly rent.

We do not recommend Home Warranty Plans for rental properties. We find that this greatly complicates the Landlord/Tenant relationship – as there is no control of vendor, schedule or timely repair to issue.

We do recommend that all Owners obtain a HVAC Preventive Maintenance Policy which provides for 2 annual service visits (Spring and Fall) to make sure that the HVAC unit is working properly for Heating and Cooling season.

We use licensed contractors to make repairs and do not have any markups on repair costs. Depending on the repair some items may be a tenant’s responsibility to pay. A typical residential lease allows for $100 tenant deductible on repairs. If the repair is due to the tenant’s negligence, they could be held responsible for paying for the full repair bill.

Along with property management we have multiple licensed Real Estate Agents that can help assist you with purchasing additional investment properties.

Innovative Properties has over 30 years’ experience in Property Management and Leasing. We have low vacancy rates, fast turnover of vacant properties, full service competitive management fees, no markup on repair costs, understand Maryland Landlord/Tenant law, and all property managers are licensed real estate agents.

Turnover costs can add up quickly when a home is vacant, which is why our tenants are asked to sign a 12-month minimum lease. By keeping the tenants in the home longer you have less expenses that you would be responsible for paying

If you rent you home there are certain rental expenses you may deduct on your tax return. These expenses may include mortgage interest, property tax, operating expense, depreciation, repair, even the Management Fee. *We suggest consulting with a tax professional to find out which items can be deducted.

We require all of our owners to have landlord insurance policy. This will cover the structure of the home if anything were to happen. Our tenants are also required to have tenant insurance which would cover their personal belongings.

For Water and sewer bills are transferred to Innovative Properties mailing address. This way we can ensure they are paid on time and then we bill the tenants who will pay back your account.

For electric/gas bills they are enrolled into a program where when the home is vacant the bills will come to our office. Then once a tenant moves in the bills will be put in the tenant’s name and their responsibility to pay.

Innovative Properties offers ACH payment to owners. The payments are deposited into your bank account the beginning of the month.

All applicants complete a thorough lease application- where the applicants are screened for credit, background, rental history, and employment. Once the application is processed, we submit the information to the owner to review.

Before renting out your property one of our expert Property Mangers will meet with you at the property. We will advise you on items that must be completed, such as being compliant with smoke detectors, and let you know if there are any items that we thing will help get the home to rent quicker and for a higher rate.

Email is the preferred way to contact our Team Members since we are out inspecting homes most of the day. If you have an urgent manner, we do have a live administrator that answers the phones during regular office hours and can connect you with one of our team members. After hours we also have an emergency line that will take a message and send it to our on-call staff.

The typical lease requires that the tenants give at least 30 days notice to vacate prior to the 1st of the month. For example, someone would have to give notice before November 1st to vacate the home on November 30th.

All of the Property Managers at Innovative Properties are Licensed Real Estate Agents and are able to assist you with listing and/or purchasing homes.