Colorado Realty and Property Management, Inc.

Denver Property Management | Property Management Denver | Property Management in Denver

Landlords Apply Here
Search Rentals
Tenants Apply Here
Pay Rent
Maintenance
Owner Login


Denver Metro Landlords: 303‑710‑8844
Colorado Springs Landlords: 719‑356‑4095
Fort Collins Landlords: 970‑444‑7063
Schedule A Showing: 720‑619‑8886
  • Home
  • Property Management Services
    • Start Here
    • Why Choose Us?
    • Pricing
    • Testimonials
    • Tenant Screening
    • Free Rental Analysis
    • Owner Checklist
    • Value Comparison Calculator
  • Areas We Serve
    • Arvada Property Management
    • Aurora Property Management
    • Broomfield Property Management
    • Castle Pines Property Management
    • Castle Rock Property Management
    • Centennial Property Management
    • Colorado Springs Property Management
    • Denver Property Management
    • Fort Collins Property Management
    • Highlands Ranch Property Management
    • Loveland Property Management
    • Thornton Property Management
    • Westminster Property Management
    • and More
  • Property Owners
    • Property Owner Portal
    • Property Owner Resources
    • New Property Onboarding Forms
    • Property Owner FAQ
  • Testimonials
  • Real Estate
    • The Home Buying Process: From Beginning to End
    • Jason Cassidy – Real Estate Agent in Denver, CO
    • Denver REALTOR® Referral Program
  • Tenants
    • Search Available Rentals
    • Apply Online
    • Pet Screening
    • Resident Benefits Package
    • Tenant Login
    • Tenant Resources
    • Lease Change Form
    • Maintenance Request
    • Pay Rent Online
    • How to use a lockbox
    • Tenant FAQ
  • News
    • Property Management
    • Colorado Laws For Landlords Resources
    • Monthly Newsletter
    • Property Maintenance
    • Property Improvements
    • Rental Property Investing
  • About
    • About Us
    • Our Promises
    • Testimonials
    • Our Team
    • Our Pledge
    • Our Awards
    • NARPM Code of Ethics
  • Contact Us
    • Review Us
    • Thank You For Your Feedback

Why Use a Licensed Contractor for Your Rental Property

A rental property is an important part of your financial portfolio.

It generally takes careful planning and a large financial outlay, which is just the beginning. A successful investment takes expertise, which is why you think carefully about who will manage your property and we thank you for choosing our company.

In addition, proper maintenance will play a major role in the lifetime and the success of your investment. Obviously, maintenance costs will affect your return on investment. Therefore, the question most often asked by property owners is, “why use licensed contractors when you could use non-licensed parties at a lower cost?”

The answer to this query is similar to that of a medical problem. You may be able to solve a medical issue by consulting your pharmacist or a nurse practitioner but if it is not easily manageable, you want the advice and expertise of a licensed and experienced physician.

Why would you not take this same approach when making the decision on whether to hire a contractor? You want the best solutions for your health and it is just as important to make the best choice for the wellbeing of your investment.

Just as you may seek more than one opinion for a major medical problem, a common sense approach to property maintenance is to obtain more than one bid for any extensive work required. It is normal to want to pay the lowest price possible so you can realize the best return on investment. However, it is important to compare qualifications, particularly if one bid is so much lower. This important decision could have costly results.

Non-licensed laborers or companies can generally offer much lower prices because they are not bonded or insured or pay into a contractor’s recovery fund or worker’s compensation. Many do not meet state and federal requirements when it comes to their workers and/or employees. They often do not have the capital and experience for the job. Since they do not have a solid financial background, they do not have the resources to pay for damage or costs if the job goes awry.

Licensed individuals and/or companies know that it is important to have the proper licensing, insurance, knowledge, and be responsible if using other laborers. They understand that underbidding the work can lead to financial disaster and continuing problems. Why would you trust such an important asset to a non-qualified party?

Another consideration for hiring a licensed contractor is what the state (for the location of the investment property) or federal government dictates. Most states require licensed contractors for the majority of property repairs. Often state and federal legislation mandate the use of specialized contractors – an example of this is work on lead-based paint. It is crucial to your investment to follow state and federal laws and regulations. There have been many penalties issued to property owners for non-compliance.

The bottom line answer to the question on why you should use a licensed contractor is to avoid and reduce liability. Investors have incurred great financial losses by not using a licensed contractor. There have been many lawsuits against property owners because of improper workmanship. This is also why there is increased state and federal legislation concerning contractors. It is important that the individuals and/or companies working on your property have the qualifications, the insurance, and meet the state’s requirements for any work performed on your property.

As your management company, we cannot contract for work with a non-licensed party if a state or federal agency dictates that a licensed contractor is compulsory or the company is not “accountable.” In short, we would not be performing our best management for you and your investment. If you have questions on this important subject, let us know and we will be happy to discuss them with you.

Click for a FREE no obligation property management analysis
Learn more about our Property Management Solutions
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: Monthly Newsletter

FREE RENTAL ANALYSIS
Receive a customized report in about 5 minutes

Follow Us

Colorado RPM Facebook Colorado RPM twitter Colorado RPM property management YouTube channel Colorado RPM LinkedIn

What will your property rent for - click for FREE rental analysis

    Property Owners & Investors
    How Can We Help You?






    Loading...

    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
    By Appointment Only
    Colorado RPM google mybusiness reviews

    Colorado Springs Office

    13540 Northgate Estates Drive Suite 110
    Colorado Springs, CO 80921
    719-454-0577
    By Appointment Only

    coloradorpmcoloradosprings.com

    Fort Collins Office

    970-432-3110
    By Appointment Only
    Colorado RPM google mybusiness reviews

    Broomfield Office

    12303 Airport Way #160
    Broomfield CO 80021
    303-803-1117
    By Appointment Only
    Colorado RPM google mybusiness reviews

    Colorado Springs South Office

    719-312-7752
    By Appointment Only
    Colorado RPM google mybusiness reviews

    Arvada Office

    720-679-1162
    By Appointment Only
    Colorado RPM google mybusiness reviews

    Management Services: By Appointment Only

    Property Management
    Free Rental Estimate

    It’s important to make an appointment.

    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.

    Colorado RPM Facebook  Colorado RPM twitter  Colorado RPM property management YouTube channel  Colorado RPM LinkedIn

    Denver Metro  Boulder housing association   Boulder Real Estate    CLLC
    Colorado Realty and Property Management, Inc. BBB Business Review  NARPM  Broomfield Chamber of commerce  CIV  Realtor logo  echo logo
    Denver · Arvada · Aurora · Berthoud · Boulder · Brighton · Broomfield · Castle Pines · Castle Rock· Centennial · Colorado Springs · Commerce City · Englewood · Erie · Firestone · Frederick · Fort Collins · Golden · Greeley · Greenwood Village · Gunbarrel · Highlands Ranch · Lafayette · Lakewood · Littleton · Louisville · Longmont · Loveland · Niwot · Northglenn · Parker · Sheridan · Superior · Thornton · Westminster · Wheat Ridge · Windsor

    Copyright 2021 Colorado Realty and Property Management, Inc. · Lyle Haas, Managing Broker · Privacy Policy· ER.100003984 · EC.100006731