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

3 Ways To Reduce Your Vacancy Rate

You have a great rental property. You made sure to do all the best updates and the property is in a great location. You’re worried, though, about keeping the property rented so you can pay the mortgage and taxes on it. So what are some things you can do to reduce the chance that you have a vacant property.

Carefully screen tenants

3 Ways To Reduce Your Vacancy RateFirst, be careful about the tenants to whom you rent. Screen potential tenants. Do full background and credit checks. These will give you a good indication about their reliability. Interview them carefully. Be sure to ask for past rental references. Be careful, however, not to ask questions that could be construed as discriminatory. Check their references, and match them to the background reports. Find out what kind of tenant they were: did they pay rent timely; did they cause problems; why did they leave.

Well maintained property

Next, be sure to keep the property well maintained and charge a fair rent. Take care of the landscaping. Provide snow removal for driveways and sidewalks. Make sure that preventative maintenance is done on schedule so systems like the HVAC, plumbing and electrical are in tip top shape. Do your homework about fair rents in your area and keep to that range. A Realtor or property management company can help you with that.

Be responsive to tenant needs

Lastly, once you have a good, reliable tenant, be responsive. If they call about a problem or issue respond immediately. Get someone there to fix the problem. If you’re out of the area, hire a property manager or management company to take care of this. A good company will respond 24/7 365 days a year.

Remember that a happy tenant will stay and become a long term tenant. Take care of your tenants and they will help take care of your property. After all, isn’t that what you got into investment real estate for in the first place?

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

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

Rental Property Management Arvada CO

Arvada, Colorado is a Denver suburb with a lot of history, a small town feel and quiet tree lined streets.

Rental Property Management Arvada CO...Arvada, Colorado is a Denver suburb with a lot of history, a small town feel and quiet tree lined streets.

Having been the first place in the area to find gold in 1870, and a part of the westward railroad expansion, the rich history provides a cool vibe for the area.

But you already know this since you own a home there. Now you want to rent that home but know that being a landlord can be a challenge.

You need a great Arvada property management company and with a lot of choices to be had, you know that your best choice is Denver Realty & Rentals.

They provide the best service for real estate investors and their properties.

Services provided 24 hours a day

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 will 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.

When bad things happen

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.

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.

For more info:

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: