Whether you inherited a rental property in an area that has a reputation for being a “bad neighborhood” in Denver or Aurora or bought into a “transitional” neighborhood with high hopes, you may face special challenges. By relying on an experienced company that offers property management in Denver, many of the concerns you have had can be resolved. A good property manager who understands neighborhoods in transition can figure out the correct rental value of your property, how to market it, show it and screen potential tenants. Whether your rental property is in an area where property values are rising or slipping, it’s important to make improvements that ensure the safety of your tenants as well as protect you. According to an article in the Denver Post, some of the Denver neighborhoods that went through changes as more affluent people moved into the area in the past decade include Skyland, Five Points, Montbello and Whittier. No matter where your rental property is located, you can benefit from property management in Denver that carries burdens for you.
Buying a smart investment
If you are currently looking to buy an investment property in the Denver area, you may be wondering what kind of property and neighborhood can command the highest rent. People who are looking for rentals in the Denver area often search for units available in Washington Park, Highlands Ranch and Aurora. You can improve the likelihood that person will want to rent your property by choosing a good location that’s close to restaurants, work, shopping and other amenities.
Securing the premises
A property manager can make sure your locks are changed for every new tenant. You can also make smart improvements to your rental property such as installing proper lighting, replacing outdated windows and doors with new ones that have multi-locking features. Adding a home security is an added expense, but one that might be worth it for attracting tenants in some areas.
Prohibiting or permitting smoking
Owning a rental property in Colorado can be a little more complicated with laws regarding the use of marijuana smoking. You can use a property management company that gives you the option to add a drug free addendum to the lease or to approve the use of smoking marijuana in the home. You can also decide whether you want no smoking of cigarettes inside the home or keeping various kinds of pets.
If you own an investment property, then you know one of the biggest questions is:
What to charge for rent?
Whether you’re new to residential real estate or a seasoned veteran, this issue comes up all the time, so why not ask an expert?
Rent amount is a tricky thing, because it’s based on so many factors. The size of the property, location, and upgrades make a big difference. But one of the biggest factors is the rental market, which changes constantly. If you’re renting a house, condo, or townhouse, you need to know the market so you know how much rent to charge. Rent amounts go up and down depending on the local market, so always check in with a local expert.
You may wonder, “Is it really that big of a deal? I’m sure I can figure out how much rent to charge.” Well, you can make an educated guess, which is what a lot of landlords do, but there are ramifications for being off the mark. Charging too much or too little, even by just $25 can have consequences. Ask too much rent, and you’ll generate little interest in the property, having fewer prospective tenants to choose from. Charge too little, and you’re cutting into your profits.
So how do you know who to ask about market appropriate rent amounts? A member of the National Association of Residential Property Management (NARPM) is the perfect choice. Members of this organization show a thorough knowledge of the local rental market, and they are known for their responsibility and professionalism in the field.
and has a unique perspective on investment properties in the Denver and Aurora area because their family started out with just one property and continued to build from that small investment. You too can see your property legacy grow by deferring to their wisdom and knowledge in this area. For more information on Denver area rent amounts, 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.
ther you inherited a rental property in an area that has a reputation for being a “bad neighborhood” in Denver or Aurora or bought into a “transitional” neighborhood with high hopes, you may face special challenges. By relying on an experienced company that offers property management in Denver, many of the concerns you have had can be resolved. A good property manager who understands neighborhoods in transition can figure out the correct rental value of your property, how to market it, show it and screen potential tenants. Whether your rental property is in an area where property values are rising or slipping, it’s important to make improvements that ensure the safety of your tenants as well as protect you. According to an article in the Denver Post, some of the Denver neighborhoods that went through changes as more affluent people moved into the area in the past decade include Skyland, Five Points, Montbello and Whittier. No matter where your rental property is located, you can benefit from property management in Denver that carries burdens for you.
