Blog Posts

Paying Rent

Continuing with our Lease Series from last week, this week we'll discuss paying rent. And remember, the lease is important, not only does it serve as a guide for what you can and cannot do, it's the difference between a friendly farewell and possible legal action, or worse, eviction. The lease reads: PAYMENT OF RENT: Payments may be mailed to our office located at 11433 Cronridge Drive, Owings Mills, Maryland 21117 or at such other address as may be designated by us. You may also pay your rent by enclosing your payment in an envelope and placing the envelope in the Drop Box at 11433 Cronridge Drive, Owings Mills, Maryland 21117. Except as may otherwise be required by law, or by us, all rental payments made by you must be by check or money order. We will convert all paper checks received in payment of rent into electronic items for Automated Clearing House (ACH) funds processing. Such electronic payments will be for the amount indicated on each check and may be withdrawn from your bank account on the same day that your payment is received by us. You understand that a check converted into an electronic item will not be returned to you by your financial institution and will instead appear as an electronic item on your bank statement. If you notify us requesting that your check should not be converted into an electronic item, you must thereafter make all rent payments by cashier's check, certified check or money order. If we cannot post the transaction electronically, we are authorized to present a copy of your check for payment. No personal checks will be accepted after the 5th day of the month, nor will they be accepted if one (1) of your checks, in a twelve (12) month period, is dishonored by your bank. Should we employ a collection agent to institute proceedings for rent and/or repossession of the Premises for non-payment of any installment of rent, and should such rent be due and owing as of the filing of said proceedings, you will pay us the reasonable costs incurred by us in utilizing the services of the collection agent. But what does this mean? For those of you who don't know what an ACH is, it stands for Automated Clearing House, which is a fancy way of processing a physical check to electronic funds. If you prefer to write a check each month, this is to be mailed directly to our corporate office at 11433 Cronridge Dr. Owings Mills, MD 21117, or you can drive there and place it in a drop box. The check is then processed electronically and taken out of your bank account. We only take the exact amount written on your check. Rent is due on the 1st of every month, but you have until the 5th before they'll apply the late charge of 5% market rent. After the 5th at 4:00pm, no personal checks will be accepted for rent, only cashier's checks or money orders. You would be working with the Property Manager at this point, as it they may begin the process of eviction. If we hire a collection agency and proceed with repossession of the apartment, you will be responsible to pay us back for the charges we received from them. But wouldn't you rather avoid all of this nonsense? Pay your rent online; it's quicker, easier, and greener!

Security Deposit

So you applied for an apartment, and you were approved! Now it's time to read your lease agreement, thoroughly, before signing on that shiny new apartment. But if you're like most of the busy bees buzzing about this city, you didn't have time to read it thoroughly. A glance counts, right? I mean, you touched on the important topics, the rest is just legal jibber-jabber. The lease is important, not only does it serve as a guide for what you can and cannot do, it's the difference between a friendly farewell and possible legal action, or worse, eviction. Let's take a moment to zero in on your lease agreement and discuss it. We'll start with those hot topics you grazed. First, your security deposit. The lease agreement reads: SECURITY DEPOSIT: You acknowledge owing us a Security Deposit to be held by us as security for the faithful performance by you of your obligations under this Lease. We will provide you with a separate receipt acknowledging the amount of Security Deposit paid by you. The Security Deposit, or any portion thereof, may be withheld for unpaid rent, damage due to breach of this Lease or for damage by you or the your family, agents, employees, guests or invitees in excess of ordinary wear and tear to the Premises, common areas, major appliances and furnishings owned by us. It is understood and agreed, however, that even though you paid a Security Deposit, rent must be paid when due, in accordance with the terms of this Lease. You have the right to be present when we inspect the Premises in order to determine if any damage was done to the Premises, if you notify us by certified mail of your intention to move, the date of moving, and your new address. Your notice must be mailed to us at least fifteen (15) days prior to the date of moving. Upon receipt of your notice, we will notify you by certified mail of the time and date when the Premises will be inspected. The date of inspection will occur within five (5) days before or five (5) days after the date of moving as stated in your notice. If we sell or transfer the Premises, we have the right to transfer your Security Deposit to the purchaser, or other transferee, and we will no longer be liable for the return of your Security Deposit. Thereafter, you must look to the purchaser or other transferee for the return of your Security Deposit. This will apply every time your Security Deposit is transferred. Your Security Deposit may not be mortgaged, assigned or encumbered by you without our prior written consent. You have a right to receive, by first class mail, delivered to your last known address, a written list of the charges against your Security Deposit claimed by us and the actual costs, within forty-five (45) days after the termination of your tenancy. We are further obligated to return any unused portion of your Security Deposit, by first class mail, addressed to your last known address within forty-five (45) days after the termination of your tenancy. Our failure to comply with Maryland's Security Deposit Law may result in our being liable to you for a penalty of up to three (3) times the Security Deposit withheld, plus reasonable attorney's fees. But what does this mean? You signed your lease and paid the deposit, which you expect to get back at the end of your lease. Surely there's nothing that would prevent this from returning to your bank account upon move-out, so you shouldn't have to worry about the logistics of it, right? Unfortunately, that's not always the case. According to the above statement, if you fail to pay rent, damage your apartment (beyond normal wear and tear), or damage any of the common areas, such as your hallway, some, if not all, of your security deposit will be used to pay for the damages or missing rent. What counts as "damage"? See section 17 of your lease. When you move out, it also states that you can be present during time of inspection, to see if any damage was done, but it is not required that you're present. If there are damages, we will send you a list of detailed charges to your new address within 45 days after you move out. We will return the remaining portion, or all of, your security deposit within 45 days as well. If we fail to do our part, we are liable to pay up to three times the amount of your security deposit, plus any reasonable attorney fees. If you transfer your apartment to someone else, the security deposit goes with it. So when you move out, you will not get your security deposit back (we recommend you discuss this with the person taking over your lease). Whenever the transferee moves out of the apartment, they will receive the security deposit back, or will be stuck with any damage charges for the apartment (another good reason to discuss this with the transferee). So there you have it, your security deposit in a nut shell. You should always read a document very carefully before signing it, but here at we want to be completely transparent and leave no surprises. We're not here to scam you! If you ever have questions over your lease, please stop in the office or set up an appointment to discuss things. We want you to feel comfortable in your new home and trust that we have your best interests at heart.

Welcome to WPM Real Estate Management

Here at Twin Ridge, we want you to feel comfortable getting to know the faces behind this amazing property. Our team begins with the professionals you see on a daily basis, in the office or on the grounds, and travels all the way up to Present of Multifamily Real Estate. WPM has a rich history of providing "Performance that adds value," so rest assured you are in good hands. In late 2015, we were named the #1 Property Management Company of the Year by the Maryland Multi-Housing Association (MMHA), and have been voted as one of the Top Workplaces 4 years in a row by The Baltimore Sun. Our team has over 75 years of combined experience in real estate and real estate management. We are committed to delivering unparalleled property management services to all of our clients association, commercial and investment real estate, and yes, that includes you! Our business is built on the core values of integrity, strength, energy, and excellence. We take pride in our work. We have passion for our profession. We believe success is the result of strong teamwork. And we earn the confidence and trust of our clients by exceeding their expectations. We hope to exceed your expectations as well. Everyone at WPM is here to answer your questions and help you with this transition. Please be sure to contact our office with any concerns or questions you might have. Welcome to the WPM family!