The #1 Way To Keep Your Renters Happy

You have one or more investment properties that you rent out. You’ve been lucky enough to find great tenants. They take good care of your property, pay their rent on time and aren’t a problem. The last thing you want to do is lose any of them as a tenant. So how do you keep your renters happy and staying?

Be responsive

The #1 Way To Keep Your Renters HappyThe best way to keep your renters happy is to be responsive to their needs. How do you do that?

Well, there are quite a few things you can do, starting with don’t let them go to voicemail. Pick up the phone and if you can’t, be sure to return their call soon thereafter. It’s called being professional. Being prompt in answering their questions, respectful of them and responsive to them.

Next, take care of any repairs promptly

That doesn’t mean dropping everything if they need some non-emergency repairs. It does mean that if they call you on a cold January night and say the heat is out, you do drop everything and get a repair person there to help them.

If they do request any non-emergency repairs or updates, do them in a timely manner. Don’t make them wait weeks or months. And be in touch with them to keep them in the loop. Even if there is a delay, knowing you care enough to let them know will go a long way.

Related Post: 3 Ways To Reduce Your Vacancy Rate 

If you do have a trouble or disruptive tenant, deal with them now

Letting a problem tenant get away with disrupting everyone else will lose you those good tenants in a heartbeat. Pay attention to complaints. Deal with it at that time. If the police have to be involved, get them out and fast.

Always be sure to respect the privacy of your tenant. They have a legal right to quiet use and enjoyment to their home. You may need to come in and inspect or repair something, but you should give them plenty of notice in the form called for in the lease.

If you appreciate your great tenants, let them know. Be responsive to them. Show them courtesy and respect and you’ll have them for a long time.

If you are looking for a great property management company in the Denver Metro area, give Tena D a call today! 303-452-5853

Is It Better To Buy “Cheap” Investment Properties

All those “flip it” shows on TV make it look so easy. Buy a Is It Better To Buy "Cheap" Investment Propertieshouse on the cheap, fix it up and then lease it or sell it for a huge net gain, no problem… except for normal people who aren’t on TV it can be a problem, a hugely expensive one. So is it better to buy cheap investment properties?

Probably not

You know you’ve heard the commercials and infomercials about buying cheap and flipping properties. It’s the old if you buy cheap you have room to fix it up and if you rent it for more than your mortgage payment, you make more money. That may be true, but as a new investment property owner or one that doesn’t regularly fix up houses, what do you know about how much it will take to fix the problems in a cheap house?

Here’s the downside

If you buy a house to fix up and rent you start out at a disadvantage. You are paying on a mortgage, paying a contractor and hoping that the refurbishments don’t tank your budget. On a cheap house it’s more likely than not that it will. Foundation issues, termites, bad former fixes, you name it. Rip out a wall and find out there is bad plumbing, electrical or structural issues. All of these can severely impact your budget.

The solution?

Pay more up front for a solid house that needs minimal or no work (such as replacing an appliance over tearing out the whole kitchen) and you can rent it out immediately. Now you have income at or before you have to start making mortgage payments. Even if you can only get most of your mortgage payment covered by the rent, you’ll still come out ahead come tax time.

The more important thing is to maintain that solid property and build equity through value as well as through paying down the mortgage.

Don’t buy cheap or you’ll get cheap… and all the headaches it brings with it.

3 Key Things To Focus On When You Are Buying Your First Investment Property

You made the decision to buy an investment property. There are a few things you should be focusing on as a buyer and investment property owner. Here are a few of them.

Look for a property with good systems such as a/c and heating,etc.

First, unless you are planning on putting a lot of money into 3 Key Things To Focus On When You Are Buying Your First Investment Propertyrehabbing a property then renting it, look for a property that is in good shape. You may pay more for it, but you will pay less in the long run.

Don’t worry about paint colors and such. That can be easily and cheaply remedied. Look more for a property with solid systems: heating, air conditioning, electrical and plumbing.

Location

Next, look at the area where the property is located. Is it city? Suburban? Industrial? Commercial? Is it high crime?

Where it’s located will make a difference in the desirability of the property and amount of rent charged. Just like location makes a difference in selling a property, it makes a difference in renting it as well. Proximity to shopping, entertainment, good schools, it all makes a difference.

Look at properties as if you were the renter you want.

Property management

Lastly, make sure you hire a great property management company. This will simplify your life. A property management company will collect monthly rents for you, maintain the property, respond to emergencies that tenants may have and, if necessary, handle any evictions that may be necessary. This is just as important as the items above.

Your tenants deserve a responsive landlord, or in this case, landlord’s agent, and a well maintained property. You deserve timely rent collection and a property in a condition that will improve it’s value.

Looking for a great property management company, give Denver Realty and Rentals a call! 303-452-5853

Are All Real Estate Investors Millionaires?

When you think of a real estate investor what do you picture? A millionaire tycoon with huge buildings?

Probably, but the truth of the matter is that most real estate investors are not millionaires, but people like you and me who either are just thinking about getting into it or who have a property or a few. Certainly not millionaires, but people who want to make a good living.

Real estate investing

Are All Real Estate Investors Millionaires?Real estate investing seems like something that is hard to get into, but will make you rich. Depending on your financial situation, credit score, etc., it may be challenging, but it is definitely a good way to make a decent income once you are up and running. So here’s how you get there.

You start with one property

It could be one that you actually go out to find for that purpose, or maybe it’s the home you started out with and kept when you moved up. Either way, with one property you are officially a real estate investor.

How you make an income depends on finding and keeping a good tenant, collecting a fair rent and keeping the property in good condition so it continues to gain value. Oh, and good records for taxes! Part of the way that real estate investors make money is with the tax savings.

Next, do it again

Once you have money banked, buy property number 2. It will take time and effort, but you can make a good life for you.

Hiring a great property manager

On of the things that scares people the most about real estate investing is the thought of having to fix toilets in the middle of the night or getting in a huge shouting match with a tenant who will just not leave.

But never fear! You can hire a great property management company like Denver Realty and Rentals to take care of all that for you. Most investors are surprised by how affordable this kind of service is and love the fact that all the pesky details become someone else’s problem!

Give us a call today if you would like to find out more about hiring a local property management company! 303-452-5853

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