Colorado Realty and Property Management, Inc.

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Twelve Practical Steps to Protect Your Rental Investment

We want to review twelve practices that we, as your management company, continually use to protect your investment.

Twelve Practical Steps to Protect Your Rental Investment

  1. Support Fair Housing

    This is crucial to successful property management. This covers a vast area such as advertising, showings, tenant selection, equal opportunity practices for the handicapped, and much more. We always work to avoid Fair Housing complaints but should they occur, we move to settle them swiftly and efficiently.

  2. Select good tenants

    Twelve Practical Steps to Protect Your Rental InvestmentWe continually strive to improve screening practices. Choosing the right tenant is more cost effective than quickly renting to someone who will become a problem tenant, even if it means a longer vacancy.

  3. Provide reliable documentation

    Another key area to reduce risk and keep tenant problems at bay is by using comprehensive documentation. This encompasses leases, addendums, property notices, communications, etc. Setting up the right agreements in the beginning can help prevent future disputes.

  4. Maintain the physical property

    We continually work to use competent vendors to maintain your property. We probably sound like a broken record on this subject but preventative maintenance is a big key for reducing many maintenance issues. Whether small or large, it always pays to address a problem as soon as possible and resolve them before they escalate.

  5. Tackle mold issues

    Ignoring mold issues has produced some of the largest settlements against investors in the United States. We may discover that it is not toxic mold but it is better to clean up any mold before it can become a legal battle. Don’t ignore water issues.

  6. Take tenant safety seriously

    Addressing anything that could endanger tenant safety is an absolute necessity. The courts have zero tolerance for a property owner who ignores maintenance that endangers a resident. This can include unsafe electrical, flooring, plumbing, door locks, walkways, lighting, landscape, and more.

  7. Respect your tenant’s privacy

    The Uniform Residential Landlord Tenant Act (URLTA) provides for a tenant’s right to privacy. Therefore, we contact tenants in advance and serve the proper notices when necessary if we want to enter their residence. You may own the property but it is the tenant’s home and most states have specific laws to address the “right to enter.”

  8. Encourage tenant retention

    For obvious reasons, it can increase the return on investment (ROI) to keep a good tenant. There are many ways to encourage tenant retention and it pays to show residents that we appreciate them.

  9. Address security deposit issues

    Tenants do move and when they do, the security deposit can become a battleground. Although we try to avoid this, a dispute can arise. We endeavor to settle any security deposit issue as quickly as possible.

  10. Provide accurate bookkeeping records

    It is important to provide you with an accurate accounting of funds for your property at all times. When you have questions on bookkeeping, we strive to provide the answers.

  11. Update on new or pending legislation

    We cannot provide the best service if we do not keep up with legislation or rulings that affect management of your property. There are many ways to do this throughout the year, such as reading publications, attending seminars, workshops, and conferences.

  12. Continue to keep our clients informed

    Keeping you informed on what is happening with your investment is always important. We use various means to do this such as email, telephone calls, letters, bookkeeping reports, website, etc. This newsletter is a vehicle for sharing our property management knowledge and we hope you find this information useful.

Call us if you have any questions. As your management company, we are here to protect your investment and help you when you need assistance. Get a comprehensive FREE management analysis and learn more about our Denver property management services.

The material provided in this newsletter is for informational and educational purposes only. It is NOT legal advice. Although we believe this material is accurate, we cannot guarantee that it is 100% without errors.

Filed Under: Property Management

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    Award-Winning Colorado Property Management Company

    Recognized for our expertise and results, we proudly offer the area’s best property management.

    2022 Best Denver Property Management Company Three Best Rated Denver Colorado Property Management 2022 Expertise Best Property Management Companies in Denver 2022

    Denver Office

    1660 S Albion St #619
    Denver CO 80222
    303-710-8391
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    Colorado Springs Office

    13540 Northgate Estates Drive Suite 110
    Colorado Springs, CO 80921
    719-454-0577
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    Fort Collins Office

    970-432-3110
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    Broomfield Office

    12303 Airport Way #160
    Broomfield CO 80021
    303-803-1117
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    Colorado Springs South Office

    719-312-7752
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    Arvada Office

    720-679-1162
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    Our staff is often in the field. We want to give you the personal attention you deserve. We’re here to help and it’s important to us that we’re available to meet with you. Please make an appointment in advance.

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