Effectively Managing the Tenant, Property & the Money
Makes the Difference
- Stay current to keep Owners Informed of
- Prevailing Rents
- Ever-Changing Laws and Local Ordinances
- Financial Developments
- Business Conducted at a Secure, Commercial Location
- 24-hour Emergency Line
- Effective Marketing
- Online and Print Media
- Place Quality Tenants
- Complete background check (criminal, rental & credit)
- Fully credentialed to access Trans Union’s Database
- Enforce All Provisions of the Lease
- Regular Inspection of Properties
- Guidance and Resident Compliance with Move-out Cleaning Instructions
- Quality Work on Properties by Efficient Contractors at Discounted Prices
- Reputable Proven Vendors
- Vendor Screening and Agreement
- Accurate Accounting
- Proven, reputable commercial Property Management accounting software
- Escrow accounting as required by the law
- Disbursing Rents to Owners Promptly
- ACH deposit to your account at no cost to you
Contact us for Comprehensive List of Services
Frequently Asked Questions
Property Management Service
These are the frequent asked questions I have compiled in the past few years. They provide additional information. All questions may not apply to your situation:
1. Your Fees
There are two fees involved, leasing fee and management fee. That is it. No renewal fees, trip charges, vendor mark up, etc. Please call for a copy of my management agreement. The fees and the amounts are all spelled out.
If there are tenants in place, there won’t be a leasing fee.
2. Do you only manage properties?
No. I am a broker as well. My services include Sales, Investment Analysis, Lease-only and Property Management.
3. Does your management agreement obligate us to use you when we decide to sell?
No. I do not have such provision in my management agreement. You would be hiring me and paying me to lease and manage your home. Selling and property management are separate services. However, I would hope your are happy with my services and would use me to sell your home.
4. How you handle emergency maintenance (from the owner’s perspective)
The owners will have my cell phone number. I do not keep a weekday-only 9-5 schedule. I have an after-hours number for the tenants.
5. The amount of expenditure that requires our approval (for maintenance, repairs, etc.)
I leave that to the homeowner. I am sure you know some repairs are cheaper to do while the technician is there than being dispatched twice. I always drop a note to my landlords when there is something that needs to be fixed, regardless of how big. You will always know what to expect.
6. Is maintenance (routine and emergency) paid out of the next month’s rent?
I can do that or set up a reserve. If it is a true emergency (flood, fire), however, it will be taken care of immediately before more extensive damage is done.
7. Does someone from the property management company actually inspect the finished work to make sure it’s done and done well?
It depends on the work. If it is a simple repair like appliance repair, I’ll check with the tenants. If it is more major like fence repair or roof repair I personally check the work. I often go there to check out the issue before dispatching someone.
8. When is rent disbursed?
The rents are deposited the same or the following day after collection. I disburse the rent 24-48 hours after the deposit, assuming the rent check clears. I can mail a check or ACH direct deposit into your checking/savings account at no extra charge to you. The rent is late after the 5th day, no exceptions. I make it easy for tenants to pay: drop off at the front desk, night drop off box, online, and off course postal mail.
9. How do you handle the accounting for the security deposit when a tenant leaves?
All security deposits are kept in an escrow/trust account as required by law. The tenant will get a list of the expenses paid out of the deposit and how much is refunded.
10. Do you keep the security deposit for the duration of the lease?
I will keep the deposit during the lease. If my agreement with the landlord is terminated for any reason, the deposit will be sent via certified mail to the next party managing the property or the landlord. The tenant will also get a letter informing them who is holding the deposit.
11. How difficult is it to transfer property management companies with a tenant in place?
It is not a difficult task. The steps involved are:
a) I have to learn about the property and the tenants (the good, the bad, and ugly). You and I will talk.
b) You let your manager know that you are switching (I have a sample letter). You probably have to give a 30-day notice. Please check your agreement.
c) Your manager will inform the tenant and will transfer the security deposit, and keys to me.
d) I’ll contact the tenant to introduce myself and will make visit to document the condition of the property as I take over.
e) We’ll keep the same lease until expiration. I will redo the lease then.
12. Any other information that you know we need?
Personal service is another way I differentiated myself. I look after my owners’ interests: from tenant placement, rent disbursements, to local affairs that could impact them. If a minor maintenance can be taken care of and If I have the time, I will do it. That saves may landlords a few dollars and I have an excuse to be inside the property. I am inside all my properties twice a year. It is good for everyone. I drive by them at least once a month.
I have gone through the rigorous requirements of the credit reporting agencies to be credentialed. I can directly access Trans-Union’s database for credit/background checks.
What’s In the News
Stagnant Rent in Denver to Close out 2016 + Demand Still High
According to the Denver Post, the number of units reducing asking prices increased by half a percentage point nationally from the same time last year. While the national change isn’t much to write home about, according to the Denver Business Journal, Denver has experienced a 3.1% drop in one bedroom apartments. Read More…