Looking For Property Management In Colorado Springs?

Property Management In Colorado Springs

If you are looking for an experienced property management professional in Colorado Springs, then look no further!

At CORE Colorado, we take care of everything concerning property management including operational, financial, and tenant-related duties. We understand understand state-specific laws governing rental properties, as well as federal laws like the Fair Housing Act, which prohibit discrimination based on race, color, national origin, religion, sex, familial status, and disability.

Here are many of the aspects of our Professional Property Management Group’s responsibilities to you.

Tenant Management

Tenant Screening: One of the primary responsibilities is to screen potential tenants. This involves checking references, credit histories, and background checks to ensure that the tenants are reliable and financially stable.

Lease Agreements

You’ll be responsible for preparing and executing lease agreements, ensuring that they comply with state laws. Colorado has specific regulations on security deposits, eviction procedures, and other tenant rights.

Tenant Relations

Handling tenant complaints, requests for repairs, and other issues are part of this role. Efficiently resolving these issues can lead to higher tenant retention rates.

Evictions

Should it become necessary, you’ll have to carry out eviction procedures in accordance with Colorado’s landlord-tenant laws.

Property Maintenance and Repairs

Routine Maintenance

Regularly scheduled maintenance activities, such as lawn care, snow removal, and cleaning of common areas, will be your responsibility.

Emergency Repairs

You’ll have to arrange for emergency repair services for issues like burst pipes, electrical failures, or other urgent matters that require immediate attention.

Inspections

Regular inspections of the property to ensure that it meets safety standards and is in good condition are typically carried out.

Financial Management

Rent Collection

This involves not only collecting rent from tenants on a monthly basis but also issuing late fees when necessary.

Budgeting

You may be responsible for preparing and managing the property’s annual budget, including anticipating major repairs and setting aside reserves for them.

Expense Management

This includes paying utility bills, property taxes, maintenance costs, and any other expenses related to the property.

Financial Reporting

Property owners often require detailed monthly or quarterly reports on income, expenses, and any changes in the value of their property.

Marketing and Vacancy Filling

Property Listing

You’ll have to list vacant properties across multiple platforms to attract potential tenants. This includes advertising, conducting showings, and leading prospective tenant tours.

Pricing Strategies

Setting an appropriate rental price based on market analysis to ensure that the property is neither overpriced nor underpriced is another important aspect.

Regulatory Compliance

Local Laws

Complying with municipal, county, and state laws and regulations, including building codes, licensing requirements, and health and safety standards, is mandatory.

Record-Keeping

Accurate and detailed records for each property and tenant should be maintained, which might be necessary for legal or tax purposes.

In summary, our professional property management in Colorado involves a balance of administrative tasks, people skills, and an understanding of both state and federal laws. Due diligence, effective communication, and a proactive approach are essential for successful property management of your rental property!

Give us a call today and let’s discuss how we can take the stress and the worry out of property management for you!