Thank you for entrusting your property to us; 2019 was a great year for Annapolis Property Services (APS) and for the Annapolis rental market. I wanted to give you an update on the rental market trends in the Annapolis area and some new service offerings here at APS. Rental Market Trends:
Because 2019 was such a great year for the Real estate market, many, “Accidental landlords” from previous years were able to sell their homes.
This, in turn, has led to a reduced inventory of rental homes and a growing demand for rental inventory in the area. As we approach the busier months, we are anticipating market rental rates to increase anywhere between 2.5% and 5%, which is an extremely positive trend.
APS update:
The adjustments we made to prospective resident screening and approval processes in October 2019 are working well. So much so, that for 2020, we are pleased to offer two new guarantees; our Lifetime Tenant and Rent Guarantee Program options:
Lifetime Tenant Guarantee - This is included free of charge with every new resident that we place! It guarantees that if any tenant unlawfully terminates their lease prior to the end of their agreed term, we will source a new resident at no additional charge to you.
Rent Guarantee Program - This guarantees that you will receive your full rent on time every month even if the tenant has not paid their rent! Rent Guarantee costs just 2% of the monthly rent and is available for all future APS approved residents and all current residents in good standing.
The lifetime tenant guarantee is automatically included with all new tenants placed by APS at no additional cost to the property owner
Enrollment in our Rent Guarantee Program is open to all new residents prior to their move-in date and all current tenants whose account is in good standing now through April 30th, 2020. Also note, Rent Guarantee coverage is a monthly plan so offers property owners the flexibility to be able to cancel without penalty any time during the lease term.
If you would like to enroll in our Rent Guarantee Program for either your current or future tenants please just let us know so we can initiate the guarantee for your property.
Thank you again for entrusting your property to us and if there is ever anything we can do to better assist you, please don't hesitate to let us know.
Regards,
Peter Cook
President and Founder
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