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Category Archives: Property Management

Colorado Property Management Services, Colorado Rental Property Management, Colorado Property Leasing, Colorado Property Managers, Colorado Rental Home Management, Colorado Rental Advertising, Colorado Housing Helpers

5 Signs You Need a New Property Management Strategy

When you invest in a rental property in Colorado, you receive steady passive income as well as enjoy home appreciation. But trying to manage a rental property on your own is often stressful. Sometimes you fix up a property so well that tenants don’t want to leave even when you don’t want to renew a lease. By hiring a good property management company, you minimize property damage, stress and boost profits and tax benefits. According to a piece by thebalance.com, there are several signs that indicate the need for a new property management strategy, especially for DIY landlords ill-equipped to handle rough tenants.

You like to travel or live out of the area

If you don’t live close to your Colorado rental property or travel extensively for work, it’s a sign indicating you need a good property manager to oversee the maintenance and upkeep. Hiring a property manager frees up your time. Some people think they can manage a rental home until an unexpected family illness or accident takes up their attention and time.

You want to increase your portfolio

If you want to buy another rental home or condo, it’s another sign that you need a property manager. Most people can’t juggle numerous tenants. A property manager shows your rental home to potential tenants, screens people, collects rent and enforces the lease. Real estate experts point out that it’s still a good time to own rental properties in popular areas such as Colorado.

You know your strengths and weaknesses

If you know your personal strong and weak points, recognize that not everyone is good at playing the “tough guy.” Some people like to please others, which is fine. But when it comes to owning a rental property, it’s best to stay organized and enforce the lease. Even if you are handy, a full-property management company saves you time.

You don’t have the time

When it comes to the rental property business, it’s a full-time job. If you feel overwhelmed with your business or career, consider whether a property manager is the best fit for your work situation. You still receive tax benefits as long as you actively participate by hiring a property manager.

You don’t have the right personality

Some people feel stressed when people damage their property or start arguments. A property manager handles disputes for you. If a tenant has a problem with a neighbor or wants something fixed, it’s quickly resolved in a professional manner. If you don’t like interacting with people, can’t handle conflicts well or feel a lot of stress, lean on a property management company.

Many rental property owners in Colorado enjoy passive without massive headaches. At Housing Helpers of Colorado, we connect people looking for rental homes or condos to available properties. Talk to us about managing your rental home. For more information about what a property manager can do for you, please contact us at 303-545-6000  

Boulder Property Management      Louisville CO Property Management

Arvada Property Management       Longmont Property Management

 

Property Management Boulder Colorado

Discover How To Become A Great Landlord

Property management and being a landlord is tough, to put things mildly. One must contend with constantly complaining tenants, those who do not pay their rent, and seemingly endless repairs and maintenance issues. Rental real estate and being a landlord comes with a lot of responsibility and stress. When everything is said and done, it can all turn a good-natured person into a jaded landlord.

Nonetheless, being a good landlord is essential if you want good tenants. It is easier to just look at renters as merely revenue, rather than people and building good tenant/landlord relationships. There are numerous benefits to creating a strong connection with your tenants. It is important to attract and retain good tenants, and it becomes very costly when a property becomes vacant. Happy tenants are just good business. Don’t you agree?

Above and beyond the lost rent, it can take a landlord 40 hours or more to replace a tenant. That is time spent advertising the property, screening prospects, showing the rental, reviewing applications and everything else required. Working to keep good tenants makes a whole lot more sense. So, with that in mind, here are some tips to get started.

Becoming a Great Landlord

1. Customize Your Lease – Those fill-in-the-black forms you find online and in office supply stores are one-size-fits-most, even when they are state specific. Create a straightforward lease with clear expectations and rules, including late payment fees.

2. Educate Your Tenants – Set expectations early. Don’t assume they will actually read the lease or your rental guidelines. Take the time to explain all your rules and policies. A little time up front will help you avoid headaches later.

3. Set Up Regular Property Inspections – This will give you the opportunity to make sure that the property is in good condition and stay on top of maintenance. However, it also gives you the opportunity to see how tenants are treating your property.

4. Make Timely Repairs – As the landlord, you are responsible for the repair and upkeep of the rental property. Don’t wait until something becomes an emergency. The faster you handle repairs, the happier your tenant.

5. Always Use Precise Language – If a tenant violates the rules of the lease, it is important to use precise language. If you are not clear, you may lose the ability to enforce that clause of the agreement.

6. Respect Privacy – Your tenants have a right to their privacy. You need to provide proper notice if you plan a visit. Moreover, it is a good idea to limit visits to regular business hours or the very early evening.

7. Show Compassion – Some will disagree, but if you show a tenant some compassion when they have an issue (within reason), they will remember the kindness. This can create a lot of goodwill and loyalty. Just don’t let yourself be taken advantage of.

For more property management tips contact Housing Helpers professional property managers at 303-545-6000.

Property Management Tips : Tapping Into the Millennial Generation for Rentals

Property management involves several tasks. Among the most basic tasks is the job of securing renters for the properties. Understanding the rental market is one way for property managers to boost business.

According to recent statistics from the National Multifamily Housing Council, 51 percent of the rental market consists of millennials, and the percentage will likely increase. Millennials are less inclined to purchase a home than previous generations. Since this is a key demographic for rentals, it makes sense for property managers to gain an understanding of those to whom they will likely be renting. Here are 3 characteristics of millennials.

 

Technology Savvy 

Millennials have been raised connected to the internet. They use their smart phones for about everything including texting, shopping, research, and self-care. Many millennials connect to the internet to fill out applications and make many of their regular purchases. So, in order to attract this group of people, property managers need to make rentals accessible online as well as offering a platform for filling out the application.

Once millennials become tenants, make maintenance requests simple with an interactive platform. The convenience will go a long way in keeping them locked in.

Socially Responsible

Research indicates that millennials are concerned about social responsibility. Highlighting any “green” features of the rental will go a long way with this group. Also, if there are any social causes that the property managers or owners are involved in, it can create a connection with millennials.

Social

Millennials love company and friends. Whether they are getting together for a cookout or checking out a new museum, they enjoy social activities. When selling your property to millennials, it is advantageous to mention or list all of the social spots around town.

 Understanding the millennial preferences aids property managers in renting to this group. Connect with us for more information about property management.

Boulder Property Management          Longmont Property Management

Louisville Property Management       Superior Property Management

Arvada Property Management

Top Reasons to Rely on Property Management Company for Your Rentals

Although you could manage a rental property, many real estate investors rely on an experienced property management company to handle the details of their rentals. A property manager takes an active interest in protecting your rental property as well as satisfying the reasonable demands of tenants.

New rental property owners sometimes take on the monumental task of managing their own property only to deal with emotional and financial drains as well as unexpected headaches. To figure out if hiring a property management company would serve as a solution for your particular situation, consider the main reasons most investors rely on professional landlords.

Saving time

The old saying that “time is money” is literally true!   If you have a full-time job, family or career that requires you to travel, taking care of your own rental property often requires too much attention. Most people are too busy to deal with the everyday problems associated with tenants such as collecting rent, calling repair professionals and enforcing the lease.  A property management company will sabe you time.  

Screening tenants

Most people aren’t familiar with the tenant and landlord laws. A property management company finds qualified tenants that are the best match for your rental home. By running a background check and reviewing a tenant’s rental history, it’s possible to minimize risks.   

Serving as an intermediary

When you own a rental property, you don’t necessarily want tenants calling your or violating your privacy. With a property management company, you don’t end up having tenants showing up on your front door step with the check or calling with complaints. A property manager is the point of contact for the tenants when they want emergency repairs or need to air concerns or ask questions.

Other important reasons people hire a property management company include legal considerations such as evicting tenants the property way. Also, property managers know the best vendors and contractors for necessary repairs.  

Whether you need help renting your property or managing your property contact Housing Helpers for the most professional landlords in Colorado.  303-545-6000.

Boulder Property Management      Longmont Property Management

Arvada Property Management        Broomfield Property Management

Louisville Property Management     Superior Property Management

 

Tenant Screening

8 Property Management Tips For Landlords

In the property management world most tenants of rental properties are great. However, experienced landlords know the 80-20 rule which states, 80 percent of all renter issues are from 20 percent of tenants.

Being a good landlord requires plenty of learning to avoid creating even greater issues. Moreover, many landlords become burned-out dealing with the headaches of property management including high-demand, slow-pay renters. Therefore, we are sharing our top 8 property management tips for landlords and rental properties.

1. Complete Screening – Thoroughly vet prospective tenants. Scrutinize their credit history, call their references, and verify their work history. If you do not perform a thorough background check, you are only asking for trouble. Therefore, always use a written rental application and complete a screening. 

2. Don’t Discriminate – The Federal Fair Housing Act prohibits the discrimination of certain protected classes: race, color, national origin, familial status, disability, or sex. Moreover, many localities have their own laws, sometimes adding protection for sexual orientation or gender identity. If you are rejecting an application, ensure you have documentation to prove the issue was credit, employment history, inadequate income, or other legal reason.

3. Use a Solid Lease Agreement – It does no matter if the agreement is a month-to-month or long-term, always use a written contract which identifies the rights and responsibilities of each party. Provide clear details about late payments, repair issues, and your complaint policy. This is important if you need to remove a tenant for not living up to their end of the deal.

4. Properly Handle Security Deposits – Use a fair method for handling security deposits. Document the property condition before a tenant moves into the property and when they leave, and properly document repairs to avoid disputes. Moreover, Colorado limits the time a landlord has to return a security deposit between 1 month to (with written agreement) 60 days.

5. Regularly Inspect Property – The fact is, as the owner of the property, you are likely responsible if an injury occurs because of property issue. Use a monthly smoke detector check as a reason to perform regular “health & safety inspections”. This allows you both to stay on top of needed property repairs and stay in tune with potential tenant behavior issues.

6. Handle Repairs Efficiently– Don’t create ill-will or give tenants a reason to withhold rent by ignoring repairs. You have a legal and moral obligation to maintain and repair your properties. Failing to do so can create hazards and/or legal liabilities.

7. Create Clear Policies – In addition to a well-written rental or lease agreement, have clear policies and provide a copy to your tenants. This will explain how you handle complaints and disputes. Additionally, tenants will understand their responsibilities, like not becoming an annoyance to neighbors.

8. Always Be Professional – Always maintain a professional attitude and demeanor. Never allow problems to get the better of you. If a tenant becomes an issue, have a system in place to deal with it and handle the problem quickly.

What haven’t we covered yet that is important to you? If you would like more property management tips for being a better Landlord and managing your rental properties, or need additional information, please contact us.

Property Management Services        Boulder Property Management  

 

Boulder Property Management Company or Property Owner

When it comes to Boulder rentals, you will often end up dealing with one of two types of landlords – a Boulder property management company that handles everything for the property owner, or the property owner himself or herself.

As a renter, it might seem as if you would be better off dealing directly with the property owner, but this often is not the case at all. These are a few reasons why you might find it better to choose a rental that is managed by a Boulder property management  company instead.

Choose from Multiple Rentals

If you search for a rental through a property management company, there is a chance that the firm will have multiple openings, possibly in different neighborhoods or apartment complexes. This can make it easier for you to find the rental that is right for you.

Work with a Knowledgeable Person

Just because someone owns a rental property does not mean that he or she knows very much about renting properties out to tenants. Some homeowners aren’t really knowledgeable about the landlord and tenant laws, for example, and might violate  them without even meaning to. If you work with a property management firm, however, you will be more likely to work with individuals who know about the rental process.

Take Out the Emotion

In some cases, property owners can be attached to their properties and can be a bit more emotional about the rental process. A property manager, however, will see things more from the business side of things. This can make for a more professional rental experience.

As you can see, it is sometimes better for renters to work with a Boulder property management company when looking for a home or apartment to rent. Luckily, Housing Helpers can assist you if you are currently looking for a rental.  

Give our Housing Helpers Boulder office a call at 303-545-6000 and we can help you find the ideal apartment, condo, or house to rent.  

Property Management          Rent Your Property 

Boulder Apartments        Boulder Property Management

 

Property Management Company

Hire a Trustworthy Property Management Company and Relax

As an investor you want a worry free return of investment on your money.  Today, rates are making this nearly impossible through the banking system. However, investing in rental property has many advantages in this new economy, but the burden of personally managing your property assets is not one of them.

A most significant aspect of property management and return on investments is the filling of vacancies. If this is not handled correctly, efficiently and wisely it will cost the owner on revenue, time, and expenses. The property management of filling vacancies involves many steps that are best handled by an experienced team. Below are some of these steps:

  • Deciding on the rent amount. This must match or reflect the existing offers in the neighborhood.
  • Advertising the property for rent in all forms of media: social, exclusive rental websites, print, referral networks and the use of highly trained leasing professionals. 
  • Showing the unit. This takes time and coordination.  It is best to have a mechanism which eliminates the obviously unqualified potential tenant.  A good property management team will do this. 
  • Screening the potential tenant prudently.  This is to demonstrate that a potential tenant is financially stable and able to afford your rent. 
  • Coordination of the lease signing and all agreements. The documented lease is the protection device for both the owner and the tenant.  As such it is a very important document.

Finally the most important topic Hire a Trustworthy Property Management Company and Relax. That is where Housing Helpers come in.  We help you with property management whether you live nearby or are an out-of-state property owner, we know your needs and have a proven track-record.  We are willing to work for your trust by delivering outstanding service.  And remember there are NO up-front cost. You only pay for results.

Contact us today and RELAX!

Arvada Property Management       Boulder Property Management

Broomfield Property Management      Erie Property Management

Longmont Property Management        Louisville Property Management

Lafayette Property Management         Superior Property Management

 

 

Three Reasons to Rent Your Home Instead of Sell It

When it comes time to move, there are many options. You can sell your home with the help of a Realtor.  You can try to sell your home by yourself.  Or join the many people that have decided to rent their homes instead of selling it outright.

Here are three reasons that you may want to rent out your home instead of sell it.

  • You owe more on your home than it is worth.  Many people bought their house when the real estate market was high and they are going to lose a lot of money if they decide to sell now. It makes sense for them to try to rent it out for a few years to try to wait out the market and see if they will be able to make a profit on their home.

 

  • You are being relocated but are hoping to return. Many people hate to leave their dream homes when they are being relocated for job.  Instead of selling, they choose to rent their home,  holding on to their home in hopes that eventually they will be able to come back home.

 

  • Some people like to rent out their home so that they can still use it as a vacation home. This works well if you live in a college neighborhood where your home will only need to be used for part of the year. It may also work in tourist areas if you don’t mind vacationing in the off season.

There are just some of the many benefits to renting your home out. You may owe more than it is worth and you don’t want to lose money. Maybe you are relocating and hope to come back to your dream home someday. Maybe you just want to keep it as a vacation home!

 

If you are interested in learning more about renting your home, curious as to what your home might rent for, please give Housing Helpers a call at 303-545-6000 we are here to help you!

 

Property Management Services

Property Management Housing Helpers Boulder Colorado

5 Ways Property Management Gets You More Bang for Your Buck

The decision to hire a property management company is not one that many home owners take lightly. After all, putting someone else in the middle means that you get a smaller slice of the pie.

Or does it it?

Let’s look at some ways in which using a property management company actually helps get as much money into your pocket as possible – which, let’s face it, is exactly where it belongs.

Time is Money – Especially Your Time

When you sit down to think about what managing a property entails, lay out a salary for yourself. Think about what you’ll be doing, and what your renters will be expecting of you. If you were ever a renter, try and go back to that time – what did you expect of your landlords? Match those expectations to yourself, and try to put a dollar number to it. Do you have the hours every month, or week, to match that salary? Do you have the ability to afford paying yourself that, while still breaking even on this?

With a property management company working for you, there’s no math to figure in trying to decide if your time is going to be made worth while… because you’ve already made the decision that your time is more valuable than anything else.

DIY Can be Costlier Than You Think

Even assuming that you’re a tried-and-true handyman who owns all your own tools and knows their way around a circular saw, doing your own repairs gets expensive… fast. Even something as simple as a leaky faucet can potentially lead to any number of great home renovation problems. Not to mention to the repairs that are fairly cut and dry – there’s still all the components of evaluating the problem, driving to the hardware store, purchasing the parts, returning to the property (all within a time frame that works for both you and your tenant), hopefully fixing the problem on the first go, and leaving all without having any second problems arise, or hearing, “Well while you’re hear…” from your renter.

A Property Manager Won’t Get Sick of the Business

People become landlords for a variety of reasons. They buy a second home, but have trouble selling the first and so it becomes a rental. Or perhaps they get curious about what a second income might look like, so they buy another home and rent it out. How long do you think it will be before you’re throwing your hands up and screaming, running stark mad into the woods? Managing properties is not for everyone – but you can be guaranteed that a Property Management company is vested in having this be something they will work hard at every day.

While you may wake up one morning and not want to deal with your tenants, that will never happen with a Property Manager. You may start eyeballing your renter’s agreements, scheming ways that you could evict them early because you want out – again, not something a property management company would ever do. The honeymoon may eventually end for you – but for a property manager, this relationship is about the long haul.

The Math (Likely) Doesn’t Add Up

Let’s look at some easy numbers. Consider the idea that by managing your own property, you save an estimated $200 a month. Let’s further assume that you spend around 10 hours every month (or two per week) handling those properties – everything from running around town to check on houses, calling up handymen (or doing it yourself), stops by the bank or notary. Every bit of the business. What you’ve found yourself with is a job that pays you $20 an hour.

Instead, you could pass on that “saved” $200 a month, and focus instead on the part of property management that actually makes money – acquiring more properties, planning renovations to boost the rent, devising income plans. In the long run, letting a Property Manager do the “busy work” for you means that you get to do all the fun stuff yourself.

One Legal Bout Can Ruin All Your Fun

It’s easy to have an, “Oh, but it’ll probably never happen to me,” opinion about having to drag a tenant to court. You can just cross your fingers and hope that you only ever have great renters, or that even if you do have a few “difficult” ones, they’re never bad enough to need the court involved. The truth is, even within the world of small claims court, fees rack up to staggering heights. The most well-researched landlord is likely not as knowledgeable about tenant rights and property law as someone who works in the field, meaning you can trust yourself to be in the hands of someone who is working to keep you – and your renters – out of court.

If you own rental property in Colorado and would like to discuss options for property management and tenant placement services please give Housing Helpers a call at 303.545.6000.

Boulder Property Management

Colorado Property Management Fall Maintenance Tips

Fall Tips From a Colorado Property Manager

Fall in Colorado is beautiful, sunny clear days and cool nights.  But Colorado weather can sneak up on us.  As the saying goes “if you don’t like the weather in Colorado just wait five minutes!”  Over the years as a property manager I’ve developed a routine for maintaining my properties.  Here are a few tips to share from my October schedule of Colorado property management maintenance.

Service HVAC units

With winter fast approaching, fall is a great time to have a professional HVAC service done on your heating systems.   Service should include at minimum: changing the furnace filters, cleaning and testing the furnace, changing out humidifier pads ( in a central humidifier system) and changing the settings from “summer” to “winter”.   We also like to stock extra air-filter nearby in a utility closet at the property so that filters can be easily changed throughout the winter season.

Winterize The Sprinkler System

It’s still eighty degrees on the thermometer and the sun is shining bright but don’t let that fool you.   Snow will be falling soon and so will the temperatures.    I remember more than a few Halloweens’ where the kiddos were trick-or-treating in the snow and freezing temps.  Now is a good time to have your irrigation system winterized including: blowing out the lines with an air compressor, draining the back-flow device, shutting off the main water line to the sprinkler system- draining any excess water from  the line, and I like to cover the back flow device outside. You can do this with a couple of hefty garbage bags and some duct tape or purchase a cover at Home Depot.

Aerate and Fertilize The Lawn

Yep. Often overlooked, fall fertilizer and aeration service can make the difference in having a lush green lawn come spring time.   Lawns go dormant in Colorado in the winter time.  However they aren’t dead!  They still need nutrients to survive the long harsh winter weather.  Aerating gives the fertilizer a path down to the deep roots- the part of the turf that will feed the lawn nutrients all winter long as the surface stays dormant.

Schedule Snow Removal Service

If you have a property in Colorado chances are you will have to deal with snow removal.  Be aware of your local City ordinances for snow removal and know the rules.  For example in Boulder Colorado where we are located, the City requires that you remove snow and ice from public walkways in front of your property within 24 hours of the snow fall.   If you have a snow removal contractor, now is the time to get that new contract signed and agree upon the terms for service.  Most contractors will initiate service after 2 inches of snowfall and follow up again after subsequent 2 to 4 inches of snowfall.

TIP!  October is the time to stock up on ice melt and snow removal supplies- your local hardware store or Home Depot tend to run out of supplies as folks rush to the store when the first snow fall hits.

Cover Patio Furniture and BBQ Grills

Whether you invest in custom fit covers or use my method (tarps with bungee cords) , covering your outdoor assets will add years to their life.   Keep the snow and ice off and help prevent rusting, fading, and weather damage.   Patio cushions and fabric umbrellas should be stored away in a protected area.  Believe it or not, the Colorado winter sun does more damage to patio furniture than anything else so if you can keep the sun off you will be ahead of the game.

We enjoy Colorado in the fall, it’s my favorite time of year.  But as a property manager I feel a lot better knowing that my properties are ready for winter.   If you need help renting your property please give us a call and we’ll go to work to help make your days worry free.  303-545-6000

 

Property Managers in Boulder Colorado 

 

 

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HOUSING HELPERS is a full service real estate company, apartment locator, corporate housing provider, and relocation company offering a diverse selection of properties for sale and for rent in Colorado and Nevada. We can also serve your relocation needs throughout the country with our network of affiliates. We’re much more than an online database, we’re relocation professionals that will work hard to find your dream home. Since 1987, Housing Helpers has made home finding fast and easy for clients across Colorado including Boulder, Longmont, Louisville CO, Broomfield, Denver, Golden, Fort Collins, Colorado Springs and all of the suburbs in between. We're also experts in Las Vegas, Nevada.

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