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I'm hoping to purchase a property in mid-town OCMD that I can use a few times a year and rent out the rest of the time. Which property management company is preferred by the Insiders? Thanks!
Submitted by jay c, baltimore, Maryland January 2, 2019
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Ocean City, MD

Insider since: 2011

Answered: January 4, 2019

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Something like this can definitely be a great way to make some extra money if you do it right. Be sure to take the time to meet with several different companies so you can get a feel for each one. You could also consider using a site like VRBO or Homeaway and run it yourself, and just use a cleaning company between guests. Good luck!

Hunt Valley and Ocean City

Insider since: 2010

Answered: January 3, 2019

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Karl gave you a list of the larger companies in Ocean City.  The best advice I have is to make sure you fully understand the fees and costs associated with the management company.  Read your contract thoroughly.  I would also see what service level agreements they give to you and your renters.  Lastly, I would understand who cleans your unit and who is responsible for the cleaning company showing up.

Centreville, VA

Insider since: 2010

Answered: January 2, 2019

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The best property management company really depends on the specifics of your unit and situation. There are some buildings/areas where certain agencies specialize. There are also some agencies better for one rental situation versus another (e.g., hands-on vs. hands-off owner). Four companies that I think do a solid job are Vantage, Coldwell BankerCondo Realty and Shoreline.

Several of the local agencies have offered seminars about owning and buying rental property in OC. I"d definitely recommend attending one of these sessions.