Tag Archives: rental 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

 

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

What to look for in a property management contract

So you’ve found a great property manager and now it’s time to move forward with the property management contract. The question then becomes: what should you look for in the property management contract? Even if the manager is reputable, there still may be some points in the contract that do not suit your current needs.  Don’t be afraid to scrutinize the contract and ask for changes that you feel are important.

Full disclosure: I am not a lawyer and this blog post should not be used as legal advice in any way.  A property management contract is a legal document.   Always consult your attorney and/or advisors before signing any legal documents.  

Here are some items that you should look for in a property management contract.

1. What is the duration of the contract? You might not want to be locked into a long-term contract, especially if you’re not familiar with the property manager. In that case, it’s probably best to start with a shorter-term contract. Once the manager has been established for a while, and your confidence has grown, subsequent contracts can be longer term.

2. Be sure that the services and the fees are spelled out clearly. Upon selecting the property manager, you probably received a verbal  quote “10% of the gross rent” or something along those lines. The full contract, however, is much more complicated than that. The contract should spell out exactly what services will be performed by the manager, and at what expense. Some managers may charge for “extra management duties” which were not spelled out in the verbal agreement.

3. Be sure that the agreement specifies Equal Housing Opportunity. You don’t want to run afoul of fair housing laws. Your property manager should be well versed in fair housing laws and operate in accordance with those laws.  If your property manager is acting as your agent then you could potentially be liable for the actions of your property manager.  This should be spelled out in the contract.

4. Check the termination clause. In case either you as the owner or the property manager wants to terminate the relationship early, the terms need to be specified clearly in the contract. In your case, ensure that the contract does not require cause to terminate the agreement, and that it can be terminated without penalty.

Property management companies can be a wonderful resource for real estate investors. Contracts between them and the property owners, however, should be examined with scrutiny to ensure that the interests of both parties are protected fairly.  As with any legal documents it is always a good idea to consult your attorney and or advisor and have them take a look at the contract.

Apartment Finders Housing Helpers Boulder Colorado

Boulder Rental Property Owner checklist : House, Inspection, License?

If you have recently taken advantage of the lower interest rates and increased property value in the current housing market and purchased a home, then keep reading. If you are now planning to stick a “FOR RENT” sign in the fertile rental land of Boulder, then the information presented in this post is all the more indispensable for you.

You must be a clever chap or lady to foresee the high-renter concentration in the Boulder area, especially in the hotspot areas surrounding CU. What many new owners in this position do not know, however, is the importance of the license.

And no, we don’t mean the driver’s license.

In the City of Boulder, property owners are required to hold a “Housing Rental License” in order to have the legal permission to rent out a property. This “Housing Rental License,” or “Housing Inspection License” as it is known by some, is required by the city’s Property Maintenance Code in order to uphold the safety and health standards for Boulder’s rental properties. This license must be current at the time of renting the property; otherwise you are subject to the same legal actions as those who attempt to rent an unlicensed property. Some exceptions to the rental license requirement can occur; a thorough explanation of these can be found on the City of Boulder website

In addition, an owner that lives in Boulder County is not required to have a property agent. It is only outside of the county that a property agent must serve as property’s contact person.

The Rental Licensing office is located in the Planning and Development Services Center in Boulder and has sporadic hours, so be sure to double check on their FAQ page before heading over.

The license fee is a flat $70 regardless of the number of units within the rental property. The license requires that a Baseline Inspection is completed in order to ensure the property is safe for tenants. This inspection, done by private inspection companies, covers four major areas: general life safety, plumbing and fixtures, mechanical and electrical, and finally, fire safety. If items need to be repaired, a re-inspection will be necessary before you can pass the Baseline Inspection. Upon its successful completion, the owner is presented with the signed inspection compliance verification form, which is an integral component of the rental license application.

Generally, this license must be renewed every four years with a renewal application, renewal inspection compliance verification form, a legal residency affidavit, and fee. However, if a new owner takes over the property at any point, the old license is considered null and void and a new inspection and license must be obtained.

While learning about this topic may not be on the top of everyone New Year’s resolution list, it certainly is an important one. If you are an owner of a property in Boulder and want to rent it out, then consider this post and this Rental License handbook as a letter with your name of it.

After you’re licensed, be sure to give us a call here at Housing Helpers so we can find the right tenants to appreciate your wonderful rental property! And remember, unless one of our rental specialists connects you with your future tenant, our listing service comes at no cost to you. We are confident we can find tenants who will adore your new property as much as you do.

Housing Helpers is Colorado’s most popular rental listing service. We provide Colorado Rental Property Leasing Services in Colorado for rental property owners, property managers, and property management companies in Boulder, Denver, throughout Colorado and Nevada.   Each City and town in Boulder County and throughout Colorado has different rules and regulations for rental property.  If you are considering renting your home or condo in Colorado start here to explore the rental property leasing services and property management services in your area.

 

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