Are you thinking of investing a big amount of your hard-earned money in the real estate market? If yes, then it is good to create a passive income stream. But, it is not as easy as you think. Managing properties comes with several responsibilities of property maintenance, repairs, tenant management, and marketing. In addition to this, you always have to be on call to manage the needs of your tenants. Can you handle all these tasks and the pressure of always being on call? If you feel overwhelmed with property management tasks, then hire a property manager in Denver, Colorado.
Below are some incredible benefits of hiring a property manager in Denver. Take a look:
Making sure your property is rent ready
When you think of renting out your property, the first step you need to take is making sure that your property is presentable and in a liveable condition. Here are some things you need to check:
- First, your property will need to be completely cleaned. So you have two options, you can clean it yourself or hire cleaning services.
- After cleaning, check if all the rooms need painting. A big factor in resident maintenance is assuring that your rental home creates an enjoyable living experience for your tenants.
- You will want to check if the appliances in your home are in good working condition once everything on the surface level is presentable. Ensure that all appliances are functioning properly or need to be replaced.
Replacing and repairing everything is your responsibility as the owner. So, it is good to get the job done before it becomes a bigger issue resulting in resident complaints. By hiring the best property managers, you don’t have to do all the inspection work by yourself. They inspect your property and handle issues regarding your property. So, first of all, hire a property manager in Denver, Colorado, and reduce your stress level.
Powerful marketing for your property
When your rental property is ready, the next step is to put your property on the market for leasing. Try to use high-quality marketing resources to lease out your rental home. This includes a network of websites that you syndicate your listing with to increase the exposure of your property. Once prospective tenants see your listing, you will have to respond to an overwhelming amount of rental calls of interested tenants. The major benefit of hiring professional property managers is that they can help you with those numbers.
Screening qualified applicants thoroughly
After going through the list of applicants, you proceed by thoroughly screening each applicant. You need to see if they are a good fit for your rental home and financially stable to pay rent on time. Here are also some things that your need to check:
- The screening process starts with the applicant having a verifiable good rental history of up to 12 months or more.
- The other thing you need to ensure that the applicant makes over three times the gross rent to assure they can comfortably afford the rent.
- Make sure that the applicant had no evictions within the last three years.
- It is important to note that the tenant has no felonies within the last ten years. No one wants a criminal figure living on their property.
- Make sure that the applicant has no outstanding balances with utility companies, and he or she has no bankruptcies, liens, or judgments in the last five years.
24/7 maintenance & repair request
The maintenance and repair request side of property management is one of the biggest benefits of hiring a professional property manager. After hiring the best and reliable property manager, you won’t have to worry about being on call to respond to maintenance & repair requests throughout the day. Your property manager will take care of all these tasks for you.
Confronting tenants on difficult issues
If you are in the property management business, there will come the point where you find yourself in a difficult situation with a tenant. Some of the most common issues include rent collection or requesting your tenants to take better care of your property. It is very easy to find yourself in a situation where a tenant gets defensive, and things can escalate quickly. You can easily deal with these common issues by hiring the best residential property management in Colorado Springs.
If you have any questions, then contact us today to know more about property management solutions!