If you're a landlord, it's important to make sure that you're doing things by the book if you want to be successful. According to recent statistics, individual investors own approximately 71.6 percent of all rental properties in the U.S.
For those who want income generation as a landlord, using a property management company is key.
Read on to discover five supportive ways that property managers can help you succeed as a landlord in Denver.
1. Property Managers Know the Law
Knowledgeable property managers in Denver are up to date on all of the latest landlord-tenant laws. This is particularly helpful if you're an out-of-town landlord who may not be familiar with the area.
Professional property managers can make sure that everything is on the up and up when it comes to Denver and Colorado laws. This not only protects you, but it protects your tenants, too.
2. Help with Maintenance
Whether it's monthly or daily maintenance, a property manager can handle these tasks for you. Not only does this ensure that your property remains in good shape, but it also helps to maintain good tenant relations.
A quality property management company can address maintenance issues as soon as they arise. This protects your property value while keeping your tenant happy in the process.
3. Marketing Your Property
Marketing your vacant property can feel overwhelming without the right tools and strategies. Qualified property managers can entice new tenants and do the marketing for you.
Not only will this help to fill your vacant property faster, but it takes the stress off of you. Whether you need to list your property online or in the local paper, a property manager can do all of the heavy lifting for you, so all you have to do is wait for a new lease.
4. Tenant Screenings
Property managers can perform tenant screenings through credit checks, background checks, and processing tenant applications. This ensures that you're only getting the best and most reliable tenants possible.
Since property managers typically already have a screening process in place, you'll have peace of mind knowing that you're getting qualified applicants to rent your property. These screenings include key components like income and employment verification, a public records search, and more.
5. Accounting and Rent Collections
As a landlord, collecting rent from tenants is how you receive income generation. A property manager will collect the rent for you and do routine tasks like accounting and collections.
When you have someone collecting the rent on your behalf, it makes the entire process much easier. Tools like online tenant payment portals also help to make the system seamless. This simple perk makes accounting simpler while also ensuring that tenants pay on time.
Become a Successful Landlord with Property Management
Professional, experienced property managers know how to help Denver landlords become a success. Remember these five things to make sure that you find the best property management company for your unique needs.
At PMI Cedarboldt, we help landlords through the entire process. Be sure to contact us today to find out more or to schedule a consult, and let's get started!
