Maintaining the integrity of the property
At Colorado Realty and Property Management, Inc., one of the most important aspects of property management is maintaining the integrity of the property. Certainly the ongoing maintenance of the property is important however, equally important and concerning is how the Tenant is taking care of the property. All of this filters down to the bottom line and ultimately impacts the investor’s return on investment (ROI).
The first part of this process is the screening process. If we find a history of damage and abuse to a previous property, this would be a reason not to rent to a prospective Tenant. Additionally, when team members are out and about doing drive-bys, walkthroughs, new management appointments and property showings, they can check on properties.
Keeping an eye on the property
Our property management team is frequently out in the field for showings, property walkthroughs, new management appointments, and for drivebys. When a team member is in the field, they may swing by one of our managed properties. Without leaving their vehicle, they’ll carefully drive by to ensure that the exterior and landscaping of the property is looking the way that it should. They are specifically looking for warning signs of neglect. Management team members will note anything that could cause concern or evidence of an HOA violation. If anything does cause for concern, the tenant(s) will be contacted and required to remedy the situation. If the situation is still a problem after the tenant has been notified, a “walkthrough” property assessment will be scheduled.
Documenting condition of the property
During the walkthrough, the team member will observe the property’s condition and document what they see via photos and/or video. The purpose is to insure that the tenancy is going smoothly, the tenants are taking care of the property, there are no unauthorized occupants or pets, and there are no lease violations. If there are any lease violations, property management will address the violations with the tenants as necessary. In many cases the property may be posted with a 3-day demand.
Another way we are able to inspect the condition of a property is during the showings.
Showings typically begin within the last 45 days of the lease, to minimize the vacancy period. During showings, our showing assistant guides prospective new tenants through the property all the time observing things that need to be reported to the property management team. Whether or not the items that the showing assistant reports are due to fault or negligence of the tenant, it’s a great way to maintain awareness of the condition of the property. This also helps the leasing team better prepare the move-in for a new tenant.
We fully understand that the better care the Tenants take of a rental property, the greater the opportunity the investor will experience for a higher ROI. Our job is to best protect your investments by not only placing the best possible tenant and minimizing vacancies, but to do our best in ensuring that the tenants are taking great care of the property. By diligently checking in on the property on a regular basis, we are able to know and document the current condition of the property and quickly remedy any problems that may arise.
Enjoy peace of mind, knowing that experienced property management professionals have your best interests in mind. Contact Colorado Realty and Property Management, Inc. today to learn more about how we protect our Landlords best interests: 303-665-7368. We’re here to Help!