Renting Your Luxury Home In Denver – Keeping Up With The Joneses

You have a luxury home and you want to rent it out for top dollar. Well, the phrase “keeping up with the Joneses” should be your very best friend if you want to get the rents you think the property deserves.

Renting Your Luxury Home In Denver - Keeping Up With The JonesesKeeping up with the Joneses – Everyone knows that means making sure your home and possessions are better than everyone you know. Having the best house on the block rules. Renting it does too. But what, exactly, does that entail?

Top of the line

To start with it means top of the line flooring: marble, hardwoods, travertine tile. Counters should be marble or granite in the kitchen and baths. Heated floors in the bathrooms, not just the master bath. Top of the line shower heads. The kitchen should have the best appliances: stove and range top, refrigerator, dishwasher, microwave, convection oven. The family room or entertainment room should have the best television, sound system and surround sound. The home systems, like hvac and security, top technology and connected to an app for ease of use.

The best of everything

The best furnishings should be in each room. Luxury renters expect fully furnished homes.
Outside areas should have the best landscaping. Entertaining areas with outside kitchen for grilling. If you have a pool and spa, make sure the decking is the best hardscape available and the pool and filter are in top condition. If you saw it on HGTV or DIY Network and it wasn’t “how to do it on a budget” think about it for your property.

In short, if your neighbor has something better, update yours. Your renters will expect only the best. Be sure to give it to them.

If you are looking for Denver Executive Rentals company, give us a call today!! 303-452-5853

Executive Property Management – Protecting Your Assets When Investing

An important part of being a real estate investor and executive property management is protecting your assets. One way to do this is to own your properties through a company. One of the most popular types of entities is the Limited Liability Company or LLC. It’s a smart move, and here’s why.

Protect your personal assets

Executive Property Management - Protecting Your Assets When InvestingAs a real estate investor owning your investment properties in your personal name opens you up to a lot of personal responsibility. If someone is hurt in your property, you, as the owner, can be held liable. That means that anything you own can be taken if a judgment is entered against you. Obviously you don’t want to lose your own home or assets so you need to find a way to protect your personal assets. That’s by forming an LLC to own your business assets.

What is an LLC?

An LLC is similar to a partnership but has the legal protections of a corporation. What that means for you is that the liability stays with the LLC, while the income and taxes flow through to you like a partnership. Unlike a partnership you can have only one member of an LLC or as many as you want. So for those wanting to work for themselves, and just themselves, you are protected. Rules for forming an LLC differ from state to state, but the tax implications are the same all over the US.

Using a lawyer for set up

You don’t have to get a lawyer to set up your LLC, but it’s not a bad idea. You may file the paperwork yourself, but a lawyer will know more ins and outs of all the things required and can help you navigate it better. Getting one going means filing a document called Articles of Organization. They are usually straightforward and most states have blank forms for your use. It’s a smart idea to have something called an Operating Agreement, especially if there is more than one member of the LLC. An Operating Agreement lays out all of the rules of getting into and out of an LLC, how it will run and who will do what. That should be at least reviewed by an attorney.

Forming an LLC to own your real estate investment properties is a great idea. Talk to your attorney about it today!

Disclaimer: While I have worked with 100’s of real estate investors in Colorado and around the country, I am not a lawyer. Please make sure to check with your attorney for specifics about incorporating to protect your assets in your city or state.

Executive Property Management Tips – The Top Three Things To Look For When Investing In Executive Real Estate

If you’re looking to get into investing in executive real estate, there are a few things that you should be looking for. One involves one main thing: location. Next, the condition of the property. Another thing you will need is a great executive property management company.

Location!

Executive Property Management Tips - The Top Three Things To Look For When Investing In Executive Real Estate It’s been said more than once that real estate is all about location, location, location. That is very true. When investing in executive real estate, there are several things that make the location key: the services found near the property. Since most people interested in executive real estate properties are executives, having things like hospitals, business centers, office buildings and great schools are exceptionally important.

Those who can afford to rent this type of real estate are doctors, lawyers, engineers and so forth. Married ones will most likely have families and be in need of schools. They will expect to only send their kids to the best, whether public schools or private, so being located near the best executive real estate is key.

Top Notch Updates

Next thing to look for is a property that has been or can be updated. If you have the money to make top notch updates, then find one in a great location in need of some tender loving care. If not, then find one that has been updated with only the best. Executives expect the best. Kitchens and baths should be granite, marble, high end cabinetry. The best, top of the line appliances. Hardwood floors, travertine or marble tile flooring. Also look for touches like crown molding, technology and security systems. Then make sure that the home is fully furnished, stocked and move in ready.

The Best Management

Lastly, hire the best executive property management company. Hiring the best will mean that the property is leased to only the best, most qualified tenant. They will also make sure that it is kept up to your high standards, take care of any repairs that could be needed, collect the rent and make sure that your investment is protected.

Want to find out more about investing in Executive Real Estate? Give Tena D a call today! 303-452-5853

Luxury Property Management – How Luxury Rentals Differ From “Regular” Rentals

You’ve seen the ads for “luxury rentals” and maybe you wondered how a luxury rental differs from a “regular” rental. Sometimes called “executive” rentals by property management companies, they are a world apart. They’re full of amenities, and are often available for shorter lease terms for executives who need a place to stay for a few weeks or months. Furnished, gorgeous and up to date.

Typical Executive Rental

The typical executive rental is a high end home. Built with only the best high end touches like high ceilings, crown moldings and large rooms. Kitchens are gourmet or Luxury Property Management - How Luxury Rentals Differ From "Regular" Rentals chef’s kitchens with high end appliances, gourmet stoves, granite or marble counters, wine coolers and islands. Baths have double sinks, Jacuzzi tubs, separate showers with multiple shower heads, deep soaker tubs, heated towel racks, marble or granite tile and counters. Every room is spacious with high end finishes, hardwoods, marble or travertine floors. Homes have high end technology and are tastefully decorated. Furnished to the nines, and rented as fully furnished. They are found in expensive communities, often gated with pools, gyms and golf courses. Tenants have access to the community extras.

Furnished and Stocked

Executive rentals are furnished rentals and will include things like linens, fully stocked kitchens which include all appliances, big and small, pots, pans and dishware. Staffed or with services like cleaning crews and staff to shop to keep the pantry full, the executives looking for these types of homes usually need them for a short time span that depends on their professional duties or travel schedules.

Use Property Management

Items that are usually included in the much higher monthly rent are utilities, furnishings, and community amenities, Depending on the executive’s needs, other inclusives may or may not be added to the monthly rent. The property management company can help with matching the executive to the rental.

If you would like to find out more about listing your luxury property, give Denver Realty and Rentals, Executive Property Management a call today! 303-452-5853

Executive Property Management Tips | Don’t Let Unqualified Tenants Visit Your Home

If you have a rental property how can you make sure that you aren’t showing your rental property or home to unqualified tenants? If you put an ad out to rent your property all sorts of people will answer and not all will be able to rent your property. Are they financially able to rent? Do they have other, more sinister ideas in mind? Using an executive property management company will ensure that only those qualified visit your home.

Executive Property Management Tips | Don't Let Unqualified Tenants Visit Your HomeAnother thing to remember about showing your home or property is the safety factor. If you just place an ad to rent it, how do you know the person coming to look at it is who they say they are? How do you stay safe from predators and criminals? The fact is, unless you have a lot of time to do background checks that include a criminal history, you won’t know and you are taking your physical safety into your own hands. Is getting it rented worth the chance you could be hurt or killed? The background check that an executive property management company will do will include a criminal background check, for your safety and theirs.

An executive property management company will screen and background check potential tenants. Their job is to show your property as well as maintain it, and they don’t want to waste their time on unqualified potential tenants. In fact, most have a list of qualified people who are able and willing to rent. That means shorter listing periods and consistent rental income for you, and less of a chance of safety issues. Why chance it? Hire an executive property management company with experience and your welfare in mind. The time, effort and worry you save will well be worth the cost.