Owning Fort Collins or Denver investment property is a good thing. Taking care of it can be a nightmare if you don’t have a property manager. Maintenance and repair is the key to keeping a property a good investment.
With more and more people renting these days, owning investment property seems like a good idea, until you envision the maintenance and upkeep that a tenant will demand. But it doesn’t have to be that way, and hiring a property manager can keep you sane as a landlord.
A property manager’s main job is to manage, repair and maintain the property, and to keep the maintenance and repair costs to a minimum. All of those things are important to a landlord. A well maintained property keeps its value, and also keeps the tenant happy and paying rent. Getting those calls in the middle of the night to fix something doesn’t keep a landlord happy, though.
The property manager is who your tenants can call instead. Even better, a good property manager will do the maintenance that will keep those midnight calls from coming in because things are less likely to break. This is especially important if your investment property is in another state. How hard would it be for you to get to your property in an emergency? If you are hours away by car or need to take a plane to get there, getting something fixed in a hurry could be difficult.
Having a property manager there solves the problem. A management company will charge a fee to do these things. Keep in mind that you should hire a company who provides the best value for that fee, and that you can most likely deduct those fees as a business expense against the rental. Check with your accountant or tax professional to be sure. 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 rented, is worth the cost of the of the service. Hiring a property manager will keep the investment in your investment property.
Looking for a GREAT local Fort Collins or Denver Property Management Company? Give us a call today! 303-489-9737