In Denver and Aurora, there are many very good property management companies.
The question then is, how do you decide which property management company is the best one for you?
What I tell people all the time when this comes up is that while you do need to make sure that the one you choose has the experience and training needed. But, you also need to feel a personal connection with, someone that you feel you can trust. The first part is a much easier one to answer. The most important part to finding someone who is trained and highly qualified in any field is to look for those that invest in themselves. In the case of property management, that means looking for someone who is a member of the National Association of Residential Property Managers. NARPM members spend hours learning what is happening legally at the federal, state and local levels. The truly dedicated ones even take it one step further and earn special designations. These designations require a greater investment in time, more specialized training, and giving back to their community of property managers by way of service. The other things that you need to look at when selecting a property manager for your investment would be:
Price – While important, this should not be your primary consideration. In the Denver or Aurora area, most, if not all companies charge a percentage. The most common are between 8% and 15% of the collected monthly rent. Depending on how much time they spend on your property, it usually works out to about $4-$8 an hour. Some also charge a flat fee that is due every month; this is something the Legacy Properties-PM does not do. The other cost is the leasing fee, in other words, the fee charged for the handling all of the prospective tenant contacts, showings, application reviews and lease writing. This is also usually a percentage-based fee and there is a wide range out there of what is charged. You need to talk to any company that you are considering about what you are getting for your money, and see if you can get references.
Experience – This is probably the most important thing for you to look into. Not only how long have they been managing homes, but also what experience do they have that ties in with it. Some examples would be: do they own any rental properties themselves, have they done any hands on cleaning or repairs of rentals, have they personally done any evictions. The staff at Legacy Properties-PM has done everything from cleaning and repairs to being a part of the physical eviction team and everything in between.
Fees – I actually think that this is far more important the price, because this is where your dollars can really add up. You need to know what items your property management company will be charging you for. The most common one is a renewal fee, this is charged for the time spent in discussions with you and the tenant and getting the proper paperwork filled out. Other questions to ask would be: Do they add anything to your repair bills, or charge for property reviews? I’ve even heard on some companies that charge a “paper-processing fee”. What that means is that they add a charge on to every piece of paper or email that they come in contact with for your property. Do they charge a service fee for your evictions, or insurance claims?
Maybe they charge an advertising fee or an account setup fee. These are all things that you need to find out and decide for yourself if they are worth it. With Legacy Properties-PM, you’ll only have three fees. The leasing fee, the management fee and the renewal fee, that’s it.
One other thing you might want to ask them about is how they handle calls that come in after hours and if they will show your property during evenings and weekends. These are very important in keeping your property in good repair and getting it rented quickly.
Once you have done all of your research and compared all of the companies, it’s time to narrow it down to the best two or three companies for your needs. Now comes the hard part, you need to contact those companies again and have a one on one conversation with the person who will be managing your property. Talk to them about your goals and expectations, they may be right on track with you, or maybe not. Either way, you will have a good idea if your personalities match or not. Remember, this is likely to be a person that you will be having a business relationship with for years to come. So, if it seems strained, or they don’t feel genuine to you, then you probably want to keep looking.
Call 720.989.1996 or contact us Legacy Properties-PM; the best in property management in Denver, Aurora, Centennial, and more.
If you own investment property, you know all the details that are involved with such an endeavor.
Marketing your Denver Colorado rental property, choosing a quality tenant, collecting rent, enforcing the lease, and dealing with maintenance needs are just some of the things that need to be dealt with every day when renting a home in Denver. If you’re looking for a property manager to handle the details, be careful who you hire. There are several reasons why you should ask whether the person is a member of the National Association of Residential Property Managers (NARPM).
If you own a rental property in the greater Denver area, then a member of NARPM like Legacy Properties-PM can benefit you in many ways:
Yes, there are people out there who claim to be “property managers,” but who are really just looking for a quick buck. They may be able to take care of some of your responsibilities, but others will still fall on your shoulders, and they probably have no knowledge of local economic factors and legislation involving rental properties.
As a Denver Colorado landlord, you have a lot of responsibilities.
Whether you’re advertising a vacancy, evicting a tenant, or something in-between, there’s never a dull moment. For many income property owners, getting a call from a tenant about a maintenance need makes the blood pressure rise, but it can be taken care of by a residential property management company like Legacy Properties-PM.
Things never break at a good time. The refrigerator bites the dust right after the tenant fills it with food, and the furnace always goes on the coldest night of the year. Sometimes maintenance needs can wait a day or two, and other times they are urgent. Either way, if you’re the landlord you’ve got to figure it out.
If this situation stresses you out, hire Legacy Properties-PM, a Colorado property management company.
The tenant calls them to complain about whatever is not working, and evaluates its urgency. Then they find the right person to get the job done. Depending on whether you need a plumber, electrician, or roofer, we know the best in the business, who will do the job right the first time for a fair price. All the contractors we work with are licensed, insured, and bonded so you have no reason to worry.
Things break. It’s a fact of life, and unfortunately, if it’s just basic wear and tear it will cost you some money. But with a property management company you don’t have to drop everything to take care of a maintenance call that may or may not be an emergency. If you own an investment property in the Denver and Aurora area and would like to team up with a property management company, contact us. We can take care of maintenance in addition to advertising, screening tenants, collecting rent, and keeping financial records. Being a landlord suddenly just got a lot easier. So, stop thinking you need to handle all of those maintenance calls on your rental property yourself. We will take care of them for you, make you feel at easy, and fully manage your Colorado property Legacy. Call 720.989.1996 or contact us.
Does your property management company take the time to show each of your tenants your property one on one?
We do.
Most real estate agents will do an open house on your rental property in Colorado and just let people wander aimlessly around and do nothing to really get the property rented to one of the people who show up.
OR
The real estate agent will put a lock box on the door and have another agent give your potential tenant a tour of your property.
We usually have your property rented within a week or two from when you decide to use our property management service.
We advertise on about 270 websites and we do video tour advertising through YouTube and Vimeo.
You can see an example of our video advertising for one of our clients below.
We act as your real estate agent in a way that most do not, and personally give your potential tenant a tour of your property.
We ask your tenant about what their real needs are and match them to the benefits of your home for rent.
Taking your tenant through the rental application process step by step also helps speed up the process of having your property rented and raising your income level sooner.
And then we go even further to ensure that your property will be well cared for.
Legacy Properties-PM will personally interview your tenants as well and run complete background checks even calling and asking previous landlords and employers about the character and reliability of your tenant.
By taking your tenant on a tour of your property, we are able to make them feel that we are in a professional environment and that your property is and will be taken care of.
Marketing your 
