13 Oct Self Management Vs Property Management in Denver
If you’ve landed on our website and are reading this blog, chances are you’re deciding between managing your Denver property yourself or hiring a property management company. While we at Unlimited RE are definitely biased, we also value honesty with our clients! There are always pros and cons to each approach. Here’s a straightforward breakdown of both sides, along with some additional perks of choosing Unlimited RE!
Property Self-Management in Denver
Taking on the role of landlord yourself does have some advantages.
Complete Control
If you’re a hands-on small business owner, self-management might appeal to you. You can create your own business processes, decide how maintenance and repairs are handled, review applications, communicate directly with residents, and select your preferred software solutions.
Cost Savings
By cutting out the cost of hiring a property management company, you save money. However, consider that your time, potential vacancy rates, and possible legal fees might offset these savings.
Relationship Building
Some landlords enjoy building long-lasting relationships with their tenants. We understand this desire, as we also value strong tenant relationships. However, these relationships can become strained if there are issues with repairs, lease negotiations, or other management tasks.
Professional Property Management in Denver
Hiring a professional property management company in Denver certainly has many advantages.
Eliminate Time and Stress
One of the most significant benefits of hiring a property manager is reclaiming your time. Many people enter real estate to achieve financial freedom, but that’s hard to attain if you’re busy managing maintenance, drafting rental agreements, and marketing your rental. Hiring a property manager allows you to focus on scaling your rental portfolio.
Fewer Vacancies
Property managers are skilled at keeping residents satisfied, which helps minimize turnover. If a tenant does leave, property managers know how to quickly market your property and find new residents to reduce vacancies.
Experience and Legal Knowledge
Property managers bring years of experience to handle any issues that arise. They stay updated on the latest management best practices and legal requirements, ensuring your property is managed efficiently and within the law.
The Benefits of Choosing Unlimited RE Property Management
Clearly, hiring a professional property management company has its advantages. Here are additional benefits of choosing Unlimited RE Property Management in Denver:
No Upfront Fees or Markups
Our fees are a percentage of the collected rent and are only collected when rent is paid. We don’t charge upfront fees or markups on maintenance or repairs, and there are no charges for marketing or advertising. All services are included in our simple fee structure.
Constant Communication and Feedback
Whether you prefer phone calls, emails, or using our online portal, we are here for you. We pride ourselves on prompt responses to any questions or concerns.
Extensive Marketing
We list your property on multiple platforms, including Zillow, Trulia, Craigslist, Facebook Marketplace, Apartments.com, and many more, ensuring maximum visibility. Our professional network extends across Colorado, and we use yard signs where applicable.
Thorough Tenant Screening
Our thorough screening process includes criminal background checks, credit checks, employment and income verification, prior residency verification, and eviction checks. We ensure only well-qualified tenants reside in your property.
24/7 On-Call Emergency Service
Our maintenance staff is available around the clock to handle emergencies promptly, minimizing property damage and ensuring quick resolutions.
Annual Profit & Loss Statement and Tax Tips
We simplify tax time by providing a full accounting of your property each January. Just hand it over to your accountant, and you’re done for the year!
Resident Benefit Package
We offer rewards for on-time payments and other perks, fostering resident retention. Happy residents are more likely to renew their leases, reducing vacancies and expenses for our owners.
Online Owner & Tenant Portals
Our online portals make it easy for residents to pay rent, submit requests, schedule maintenance, and communicate with our staff. Owners have 24/7 access to financial reports, ledgers, maintenance receipts, monthly inspections, and more.
Conclusion
While managing your property yourself can offer some benefits, the advantages of hiring a professional property management company like Unlimited RE in Denver are clear. Ready to experience the benefits firsthand? Request your free property analysis today and see how we can help you maximize your investment!