What Questions Should You Ask Your Property Management Company?

Congratulations! You are now an investment property owner. Now you need a property management company to help you with your property.

What Questions Should You Ask Your Property Management Company?When you are interviewing prospective companies, do you know what questions you should ask? Here are some good ones.

Questions To Ask Your Property Management Company

About The Property Manager

  1. How long have you been a property manager? The longer they have been in business, the better their track record can be proven to you.
  2. What kinds of properties do you manage and how many are you currently managing?Ask this because you want to have a property management company that is familiar with the ins and outs of leasing out your property. If they mostly manage apartment complexes and you have a single family home, that could be an issue. You also want to be sure that they aren’t over extended meaning response times will be slow.
  3. What associations do you belong to? This could include local chambers of commerce, Better Business Bureau, etc. They can be a font of information about their business practices.

Vacancy Questions

  1. How many vacancies do you currently have and how long does it take you to fill each? Obviously, a higher vacancy rate will mean something is amiss. Also, it will tell you how long your property may remain unrented.
  2. Can I see your current lease or have my attorney review it? If they aren’t willing to let you see or have their form lease look elsewhere. Violating local and federal laws with tenancy can be a huge problem.

Inspections & Repairs

  1. How often do you inspect properties? Keeping a regular inspection schedule will mean your property will be maintained properly.
  2. What process do you follow for repairs to the property?
  3. Do you set the limit for repair costs before consulting me or do I?
  4. Do you get competitive rates from your contractors?
  5. What is the bid process for large repairs?

Payment Questions

  1. What are your policies surrounding collecting rents?
  2. How late do you allow people to pay?
  3. Do you allow them to pay electronically?
  4. When will I receive payments?
  5. What are your eviction procedures and how often do you have to evict?

Property Management Fee questions:

  1. What are your management fees?
  2. What other fees do you charge (i.e. for eviction, renewal, marketing, contract cancellation and/or account set up)?
  3. Do you charge to find a new tenant? Is there a fee when the unit is vacant?

Selling Questions

  1. If I sell the property, do you handle notices to the tenants?
  2. Do I have to list it for sale with you (if it’s a real estate company that is managing it)?
  3. What is your screening process for tenants?

This is a really good list to get you started picking a property manager! If you are looking for a Denver area property manager, give Tena D a call today! 303-452-5853

Do Property Management Companies Handle Evictions?

It’s a sad reality when you have an investment property, having to evict a tenant. Whether you are evicting a tenant due to nonpayment of rent or violation of other parts of their lease, landlord/tenant law can be confusing.

If you don’t get it right the first time, it can become a colossal mess that leaves you with all of the problems. Since you don’t have a law degree, or the time to understand the ins and outs of the system, what can you do?

Property management company helps

Do Property Management Companies Handle Evictions?Your best bet is to hire a property management company. Part of their job is to help you not only find tenants, but handle evictions as well.

You know that a property management company handles your property upkeep and maintenance. That is a big part of what you hired them to do. It’s also an important part of keeping your property in the green and improving its value.

Property management duties

Part of that upkeep is making sure that your property is making money and keeping non-paying tenants from doing damage to it. That means knowing how to evict them quickly and legally.

Property management companies are experienced in these matters. They have handled many of them and have lawyers to make sure they are done correctly and to the letter of the law. They will have that bad apple out of your way in record time!

Don’t leave this important process to chance. Have a professional handle it for you and get it done right.

What Does A “Good” Property Management Company Do?

You are a landlord in need of a property manager, but there are so many out there. So how do you decide? What does a good property management company do so you know who to choose?

What Does A Good Property Manager Do?

A property manager’s main job is to manage, repair and

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maintain an owner’s property all while keeping the hassle to the tenant and landlord and expense to the landlord to a minimum.

Property owners are renting a property in order to fulfill a goal: pay the mortgage on it and make a profit, keep it from being empty which costs money in ongoing expenses and lost revenue and keep the property in good shape so when it’s time to sell it’s ready.

A well maintained property keeps its value, and also keeps the tenant happy and paying rent.

The property manager is who your tenants can call in an emergency. A proactive property manager has the skills to keep the emergencies from happening, or have the skills to fix most things keeping those exorbitant repair bills from happening.

The property manager also deals face to face with the tenants on rent issues, and, if necessary, has a “back up” list of tenants to fill in an unexpected vacancy. For the non-paying tenant, the property manager deals with the eviction process for you.

What Do Property Managers Charge?

The management company will charge a fee to do these things, so you will need to be sure you find one that is reliable for the money you pay them. But the fee is worth the peace of mind you will have knowing that your property or properties are well cared for and you won’t be having those nightmare situations quite as often!

Property management fees can range from 10%-15% of the rental price and may have a “signup cost” when you sign on.

Bottom line, the maintained value of the property and continued rental due to the efforts of the management company to collect the rent, and to keep the property from being vacant, is worth the cost of the of the service.

If you would like to work with a good property management company in the Denver area, give Denver Realty and Rentals a call today! 303-452-5853

Rental Property Management Longmont CO

Longmont, Colorado was founded in 1871 and has been a tidy, planned community from the beginning.

From the coming of the railroad to the Air Traffic Control Center, IBM Center and other big business, Longmont, has always been a good place to find a great job and a great place to live. You found that too, and now want to rent your property. You know that it will be difficult for you to manage the property since you won’t be living there. You need a great property management company.

Your best choice for a property management company

Rental Property Management Longmont COThere are many to choose from, but your best choice is Denver Realty & Rentals. They provide the best service for real estate investors and their properties.

DR&R provides property owners every service they could need for the property and it’s tenants 24/7 365 days a year. No matter when issues arise, days nights or holidays. DR&R has plumbers, electricians and handymen ready to help whenever your tenants need them.

Not only to keep your tenant happy but to keep your property in tip top shape.

Denver Realty & Rentals manages all aspects of your property

Worried about what would happen if your tenant gives notice? Or worse, stops paying rent and needs to be evicted? Well DR&R will handle the collection of rents, and any necessary eviction proceedings.

They’ll also get the property cleaned, repaired, shown to prospects and re-rented as quickly as possible. Keeping it rented isn’t the only way you can make money. DR&R will also improve it to increase your equity. They also inspect annually and between tenants.

Denver Realty & Rentals has a wide range of services

DR&R provides you with a wide range of services to make your property shine and stay rented. They provide cleaning and repairing between rentals, advertising the property between tenants with professional photos, background check prospective tenants and show the property, protect your identity if that’s your wish, help the tenants by providing quiet use and enjoyment of the property, make sure all fair housing laws (Federal and State) are followed, collecting rents and evicting tenants when necessary.

Don’t try to do it all yourself. Hire the best property management company with the most expertise to handle your rentals. For more information visit http://denverrealtyandrentals. com/property-management/
For more information about the Longmont, Colorado area visit these sites:

Rental Property Management Lafayette CO

Lafayette, Colorado is a community rich in the coal mining Rental Property Management Lafayette COhistory of Colorado. It’s history includes claims to having the first woman bank president in the world. Living there has been a great experience for you, but now you’ve decided to rent your property.

You know that being a landlord can be a challenge. You need a great property management company. With so many out there, it can be hard to choose. But you know that your best choice is Denver Realty & Rentals. They provide the best service for real estate investors and their properties.

Great services

DR&R provides property owners and investors every service they could possibly need for the property and its tenants. Their services are provided 24/7 365 days a year. Your tenants can have issues arise day or night and will expect that their problem be solved.

DR&R has plumbers, electricians and handymen ready to help whenever your tenants need them. Not only to keep your tenant happy but to keep your property in tip top shape.

Handles all your tenant interactions for you

Worried about what would happen if your great tenant turns bad? Gives notice? Or worse, stops paying rent and needs to be evicted? Well DR&R will handle addressing bad behavior, collection of rents, and any necessary eviction proceedings. They’ll also get the property cleaned, repaired, shown to prospects and re-rented as quickly as possible.

Keeping it rented isn’t the only way you can make money. DR&R will also improve it to increase your equity. They also inspect annually and between tenants.

DR&R provides you with a wide range of services to make your property shine and stay rented

They provide cleaning and repairing between rentals, advertising the property between tenants with professional photos, background check prospective tenants and show the property, protect your identity if that’s your wish, help the tenants by providing quiet use and enjoyment of the property, make sure all fair housing laws (Federal and State) are followed, collecting rents and evicting tenants when necessary.

Hire the best property management company with the most expertise to handle your rentals. For more information visit:    http://denverrealtyandrentals. com/property-management/
For more information about the Arvada, Colorado area visit these sites:

http://cityoflafayette.com/
https://en.wikipedia.org/wiki/Lafayette,_Colorado