All Forum Posts by: Lauren Frost

There are a few alarming statements in this forum, but it may just be due to jurisdictional differences. However, anyone with a "handicap" is a protected class in the eyes of the *national* Fair Housing Act, so it applies to all states. Its important to be careful when making generalized statements about any protected class and using it as a reason not to rent a home to them. Even if your statement about disabled people being home longer during the day and causing more wear/tear on the place were true, it would be a Fair Housing violation to deny someone based on that assumption. Further, the Fair Housing Act actually prevents landlords from refusing to allow a disabled person to make "reasonable modifications" to the home if they are considered to be necessary for the disabled person to use the housing. Please refer to HUD's website to read more about the Fair Housing Act.

As @Ned Carey said, there are some additional jurisdictional-specific protected classes that some States and Counties decided to enforce to supplement the national Fair Housing Act, one of which is protection on the basis of income source (aka vouchers). 

I've come to see that no matter what, its best to have a set list of parameters that you enforce on every single potential renter equally. The parameters should be verifiable on paper, such as credit checks, criminal background checks, and rental history checks. If you stick to this, you won't have any issue with the Fair Housing laws. 

@Christina R. Thank you! I actually just got back from the Baltimore REIA but I'll have to check out the others. Great advice!

Hi all!

I'm getting started in investing. I still have to get an entity set up, but once that is complete, where do you go to get the necessary contracts? i.e. contract of sale, lease option, etc.? Do you go to a lawyer? If so, any suggestions for realt estate lawyers in MD?

Thank you!

@Cameron Ellis I find postcards to be extremely effective in my property management business as well. I'm just getting started in investing, so this was a useful marketing tip - thank you!

Thank you for the advice!

Hi all!

I am getting started in real estate investing in Maryland. I am currently a property manager and have bought/sold some homes for others as a Realtor, but I've never personally owned real estate myself. I'm very comfortable with managing rental properties and have a good foundation in how to evaluate them - however, I'm trying to figure out what avenues of investing I should explore.

I would love to have some rental properties. I have heard both good and bad things about wholesaling, but I wouldn't even know where to begin with that. I'm also interested in learning more about creative financing techniques and lease-options.

I am in search of a Mentor in the Harford County/Baltimore County area of Maryland who would be willing to guide me through some deals and teach me a thing or two, possibly in exchange for tenant placement or free help in finding deals. Any advice in general would be appreciated!

Thank you in advance!

Lauren Frost

Hi!

I'm not sure if you have already decided on a property manager, but I thought I'd chime in. I'm a property manager in MD and the best questions I get from rental owners are:

1. The obvious: What are the leasing and management fees and how/when are they charged?

2. Is a management fee charged when the property is vacant?

3. What is the termination terms if I decide I do not want to use your company anymore?

4. Am I asked for approval for all maintenance calls or is there a cost minimum before I can a call?

5. Do you perform property inspections during the tenancy to ensure the home is being properly cared for by the tenant?

6. How quickly do you respond to maintenance calls?

7. Is your maintenance department in-house or contracted? If contracted, is there a surcharge on any maintenance (meaning does the management company make anything off of a maintenance repair on top of what the contractor charges).

There are so many questions you could ask, but there are good ones to start with in order to assess the management company.

Best of luck!