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Frequently Asked Questions - Client Preference FAQs Categories

Helpful Information Do you enforce Fair Housing Laws? Who holds the tenant�s security deposit? What happens when a tenant has a maintenance or repair issue? What constitutes an �emergency�? How will I know my property is being cared for and only authorized persons are living there? How do you do your banking and will you pay my bills? What happens if the tenant doesn�t pay the rent? Can you also list my property for sale or lease it as a rent-to-own? How much does all this cost? Are your fees negotiable? What sort of contractual commitment is required?

Answers

Helpful Information Question: Do you enforce Fair Housing Laws?   Answer: ABSOLUTELY! Discrimination in housing is illegal. It is our policy to enforce and promote all current Federal and State laws related to the sale, lease or rental of housing.   Back to top Question: Who holds the tenant�s security deposit?   Answer: Because we are a licensed brokerage, we maintain a separate escrow account for this purpose. All security deposits will be placed there and returned to the tenant or otherwise disbursed pursuant to the terms of their lease and State law.   Back to top Question: What happens when a tenant has a maintenance or repair issue?   Answer: If its not an emergency, we�ll evaluate the situation, obtain bids from competent contractors and provide you the information together with our recommendation. Once you have approved the item, we�ll coordinate between the contractor and tenant to get the work done.   Back to top Question: What constitutes an �emergency�?   Answer: Imminent damage to life or property, like fire, flood or structural compromise.   Back to top Question: How will I know my property is being cared for and only authorized persons are living there?   Answer: Typically, we will drive by periodically for a visual inspection. If your property is in a common interest community, we will also ensure that the community�s management company has our contact information. Unless the property requires a regular inspection, we cannot just drop in on a tenant for a casual inspection. However, we will take the opportunity to look around if we�re responding to a maintenance or repair request. If we ever notice unauthorized persons or pets, we�ll take the appropriate steps with the tenant to correct the situation.   Back to top Question: How do you do your banking and will you pay my bills?   Answer: With an initial investment from you, we will open a custodial �operating account� at our bank where all deposits will be made and from which we will pay your management related expenses. In order to ensure that there is always sufficient money in the account, we will retain a minimal balance for emergencies and any money needed for expected expenses, but the rest of the funds will usually be forwarded to you monthly. If you wish, you may have online view access to the account, so you can always see what is going on. You are responsible to continue making your own mortgage, property tax, insurance and HOA payments (if any).   Back to top Question: What happens if the tenant doesn�t pay the rent?   Answer: While we take all commercially reasonable steps necessary to collect the rent, there is always a chance that an otherwise creditworthy tenant may stop paying. If we feel we cannot obtain the tenant�s compliance, we will discuss the options and associated costs with you (including eviction), and proceed at your direction.   Back to top Question: Can you also list my property for sale or lease it as a rent-to-own?   Answer: Of course! We�re not just property managers � we�re a full service, licensed real estate brokerage, as well. Simply let us know what your ultimate goals are with your property and we�ll customize an arrangement that will be targeted to meeting them.   Back to top Question: How much does all this cost?   Answer: Aside from the cost of your mortgage payment(s), property taxes, insurance and HOA fees (if any), you should expect to pay for advertising and utilities while the property is vacant, the actual costs of all repairs and maintenance, banking fees and supplies, a Leasing Commission equal to one month�s rent, a monthly Management Fee of 7% and any expenses paid on your behalf (like postage). There are no trip charges, no mark-ups and we only get paid when you do. If you�re turning your home into a rental property for the first time, we highly recommend you discuss the financial implications with a professional tax advisor.   Back to top Question: Are your fees negotiable?   Answer: We believe our fees are very competitive in the marketplace for a full-service arrangement and they are generally not negotiable unless you contract with us to manage multiple properties.   Back to top Question: What sort of contractual commitment is required?   Answer: If we are leasing your property, we will ask you to give us an Exclusive Right-To-Lease Listing Contract. Our management services are performed under a separate Rental Services Agreement. Whether you choose to engage us solely for management or for both leasing and management, you always have the option to terminate our relationship with one month�s notice.   Back to top

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licensed community association managers and real estate brokers in the state of Colorado