5 Advantages of Hiring a Denver Property Manager

Hey, everybody. Matthew Whitaker back with Questions Owners Ask. Today’s question, and I’m going to cheat on my notes, 5 Advantages of Hiring a Denver Property Manager.

So we’re going to talk about why you would hire a property manager in Denver.

I’ve got an incredibly funny story about my mom who me, as a property manager, she didn’t hire me.

She had a horrible experience with some tenants.

Now she had some good experiences in the past but even me as a property manager.

Sometimes people think they can do it themselves and they certainly can but what are the advantages that a property manager could bring.

Because I think this is super important that you know because there’s a statistic out there.

Where as many as 50% of all homes are managed by the people that own them instead of professional property managers.

So professional property managers have done a poor job of exhibiting value to people like you.

Let’s talk about the value that we can bring.

Number One I Would Say Is Marketing Reach.

We’re known for renting homes and so residents come to us to rent homes.

And so one of the things you’re going to get that’s even bigger than just posting it online on like a Trulia or HotPads.

Or one of those other outlets is you’re going to get the reach of our website, you’re going to get the reach of our branding, the reach of our marketing.

Now That Should Increase The Number Of Leads. (5 Advantages Of Hiring A Denver Property Manager)

We always talk about renting as a funnel and to find great tenants you can certainly do it on your own but to find great tenants we think of it as a sales funnel.

We need to put a bunch of leads into the funnel and bring them all the way down through seeing the home, applying for the home and then of course finally signing the lease.

So the more leads we can put in and we believe that as a professional property manager we’re going to drive more leads to the house or drive more leads with our marketing, then we should either be able to rent it faster or to a better tenant, maybe both.

Second Thing Is I Think And I Think This Is

I can tell you kind of some reasoning behind it that great tenants typically use property managers.

They want somebody that’s professional that when something breaks they have a process for getting it done.

I believe that great tenants that have great credit also want to rent from professional property managers.

Because They Feel Like There’s Kind Of A Baseline For Expectations That They Can Have. (5 Advantages of Hiring a Denver Property Manager)

And I also feel like bad tenants try to rent from individuals and part of the reason for that is they know the individuals rarely screen their residents.

They know that they can pull the wool over their eyes and if things go wrong that individual residents typically don’t…

Or excuse me, individual owners that are managing their property typically don’t know the eviction process.

Probably hadn’t been through it a number of times, don’t have an attorney on speed dial that they can call.

So it drags out the process.

They can drag it out with a story. So great tenants do use professional property managers.

The Next Thing I Would Say Is Tenant Communication And Maintenance Handled From, You Know, Soup To Nuts, Start To Finish.

So they want to be able to reach out to someone.

We as property managers have specific people assigned to communicating with residents assigned to maintenance.

There’s some visibility for the resident in that.

And so great tenants really want that type of visibility, that type of ongoing communication.

Even to the point that they need to show up and talk to somebody.

They can certainly do that with our office here in Denver.

The Fourth One Is Rent Collection. We Make It Easy For Them To Pay Rent

Gone are the days where somebody shows up with a wad of cash or sends you a check in the mail.

I mean, you can certainly still do that but residents, especially good ones, they’re just not interested in that.

We have a number of professionals that are attorneys and accountants and professionals that have moved into Denver.

And They’re Going To Stay For Just A Time Period, Don’t Want To Buy A House Right Now. (5 Advantages Of Hiring A Denver Property Manager)

And they want to pay their rent online.

They want to be able to set up a direct deposit or go on just like they do all their other bills and pay that bill online.

And so you’re going to get a better resident if you offer those types of services and obviously professional property management does that.

Number Five Is Keeping Fair Housing Laws And Landlord Tenant Laws.

And you know, I always tell people, “Just because you don’t know the state specific Colorado landlord tenant law does not mean you’re not required to follow it.”

So I think it’s very important that if you’re going to rent it on your own that you read that law, that you know that law because you’re going be held accountable to that law in the event something goes wrong.

Whereas Us As Professional Property Managers, We Know The Laws.

You know, we deal with them every day. It kind of governs the way we do business.

And so I think it’s just super important for you to know the law if you’re going to do it but you could also hand it over to a professional property manager because they know the law.

So that’s it.

Those are the five reasons I think using a professional property manager here in Denver makes sense.

I am Matthew Whitaker.

Thanks so much for watching.

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