Property management is a really tough field. As with most industries, there are a few top-performers, surrounded by a sea of operations who offer less, talk more and charge more. It makes the decision to hire a property manager even more difficult, most people choosing to just not hire and self manage.
Especially in Denver right now, a slip up in the negotiation could cost you a lot of $$!
How Can You Choose the Right Property Manager?
The first is the Corporate model. This is where a property management company is set up by a corporation. Generally you have an agent that gets you signed up and finds you a tenant, then once that is all said and done, the agent and the corporation take their splits, and you are transferred to a call center to help your further needs.
The next is the Team model, in which a team handles your account, along with a bunch of other accounts. So when you, or your tenant, need to get a hold of someone, you never know who is going to answer and when you may hear back.
At Cityscape Real Estate, we practice the individual model. We, and a few other agencies around town, use this model because it provides the highest quality customer experience, and customer satisfaction. When you sign up with me, you know it’s me answering every one of your emails and phone calls.
Property Management Services
I provide the full suite of property management services in the Denver metro area, to make sure you don’t have to lift a finger to maximize your earnings. Remember, Net More Profit, Net More Life, Net More You.
These services include, but are not limited to:
- Free rental analysis
- Advertising for prospective tenants, showing the property and qualifying tenants;
- Negotiating and executing rental and lease agreements;
- One point of contact between tenants and owners (Me);
- Contracting for services, repairs and maintenance on the property as authorized;
- Responding in a timely manner to the needs of your tenants;
- Evaluating rental and lease agreements periodically;
- Serving notices on tenants and filing unlawful detainer (UD) actions as needed;
- Performing regular periodic property inspections;
- Access to our tenant/client portal, giving you 24/7 access to leases, management agreements, account history and monthly accounting and reports;
- Tenants pay rent online and direct ACH payment to owners means no check in the mail;
- End of year 1099 for all of our clients
We charge only two fees for our management services, starting at 10% of the rent monthly and 50% of the first months rent (one time annually). These prices can be negotiated, depending on the situation.
That’s it, no other fees charges. While negotiating our agreement, I can show you exactly what you will pay me for the year.
Compared to the “Flat Rate” (One to Two full months rent annually plus $90 per month) Model – One year’s rent at a property renting at $1,500 monthly
A Flat Rate company’s fees = $1,500 (Or $3,000 depending on the company/Contract) + 12 months * $90 = $2,580 annually (Or $4,080 depending on the contract)
Our Fees = $750 (50% of the first months rent) +150 (10%) *12 = $2,550
**This is only in the case that the flat rate company did not charge any additional fees**
Easy math, made complicated by smart marketing.
See also, Reasons to hire a property manager