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How to Choose Denver Property Management Companies

June 1, 2016

Many real estate investors choose to hire a property manager to handle everything for their investment properties, from collecting rent to taking care of customer complaints. However, without a quality property manager, you are at risk of having unhappy tenants and a poorly maintained property. To choose the best Denver property management companies, follow these tips:

What do they offer?
First and foremost, you should ask Denver property management companies what services they offer. If you want your future tenants to have access to help with after hour emergencies, but a company does not offer that service, it’s best to know this in the beginning so you can move on without wasting much time. Call at least three different companies to determine who has the widest range of services in your price range, and then use this as a starting point to narrow down the list even further.

Ask about their experience.
It’s important to ask Denver property management companies what kind of properties they currently have in their portfolio. Having experience with a 20-tenant townhome property will not necessarily prepare a company for managing a 200-tenant apartment building. If a company has solely worked in commercial real estate properties, they may not be the right fit for a residential property. Try to find a company that already has properties similar to yours in their clientele list so you know they can handle the challenge with ease.

Ask for references.
Once you’ve narrowed down your list of Denver property management companies, ask each of them for references. Working with a property manager is similar to hiring an employee, and you would never do that without talking to references, so of course it’s important to do so in this situation, too. Any company that is unwilling or unable to give you references is not worth your time. When you do talk to references, ask how different situations were handled by the company, how responsive they were, and their level of professionalism.

Look at their properties.
It may be hard to determine if someone is overselling their capabilities, so it’s helpful to visit some of the properties that Denver property management companies handle to see their condition. Is the landscaping maintained? How would you rate the property’s cleanliness? Try to talk to a few tenants or read online reviews to determine the overall feeling towards the employees who manage the property. It may also be helpful to look at the online rental advertisements put out by the company. Check to see what kind of effort they put into advertising the space for rent and where the ads were placed. All of these factors will help you determine whether you’ve found a good fit or not.

Are you in need of Denver property management services? Contact The Sherman Agency to learn about the wide range of services that we offer. Call 303-572-8778 to speak to someone today!