When you buy a rental property in the Denver area, your primary goal is to receive an immediate ROI (return on investment) in the form of monthly rental income.
Most investors find good deals on short sales, foreclosures or fixer uppers. With the help of property management in Denver in the Denver area, you will likely receive more in the form of rent than you pay out for expenses including a mortgage. When you rely on a reputable and experienced property manager to maintain your property, you also receive the added benefit of appreciation over time. After renting out an investment property in booming areas such as Littleton, Lakewood, Highlands Ranch, Parker, Centennial, Cherry Creek and Aurora, Colorado, you will one day decide to sell your rental property. According to a report by CoreLogic, Colorado is No. 1 for home appreciation in recent years. What’s more exciting for property owners is the fact that experts predict home values will continue to appreciate anywhere from 6 to 10 percent each year.
Enforcing the lease on your rental property
A residential property management company will protect your home as the asset is by enforcing the lease. When your tenants follow the lease, they are less apt to damage your rental home, condo or townhouse. It’s extremely difficult for most property owners to play the tough guy. A property manager enforces issues such as a non-smoking or no-pet policy that keeps your home in better condition for future resale purposes.
Maintaining the exterior of your rental property
Having a property manager means you have someone to check up on your property. Your property manager might notice a roof that’s damaged or stains in the driveway that a professional can remove before it becomes permanent. When you hire a property manager to tend to your Denver yard and home, you are more likely to experience appreciation in home value.
Making timely home rental repairs
If no one responds to a tenant’s request to fix a leaking refrigerator or broken pipe, the water damage can cause mold and mildew that dramatically decreases home value. You can have greater peace of mind knowing someone is always on top of problems.
A residential property manager keeps your home in good working order and looking good so that you can turn around and sell it for a profit without having to spend weeks or months getting it back up to minimum standards to sell. At Legacy Properties-PM, we are members of the NARPM, the National Association of Residential Property Managers. For more information on our property management services and advice on investing in real estate in Denver’s hottest communities, please call us 720.989.1996 or contact us.