Whenever a tenant moves into your rental property, there’s a good chance that you require a security deposit. In a perfect world, these would not need to exist! Tenants would move into your unit, take exceptional care of it and always follow the terms of the lease. However, this is not always how things happen. A security deposit is one way to give you a sense of security and money that you can use to offset property damage or outstanding rent. At the end of the lease, should you deduct from it or return it?
The greater Denver area is a popular, fast-growing area, which means that competition for great rental properties can be fierce. As a landlord, you started renting your property to make a profit, and increases in your costs can leave you with the choice between making less profit or passing on some of the costs to your renters. What is a fair cost-of-living increase for your tenants?
At All County Denver Metro Property Management, we work with landlords just like you to find exceptional tenants who care for your property, pay rent on time and never bother the neighbors. During the screening process, we can use a broad range of tools to determine the quality of the tenant. Credit scores are a key part of the tenant screening process, but should they be the entire picture or just a piece of it at your rental property?
When you have new tenants moving into your rental property, it’s a great idea to welcome them with an informative and thoughtful welcome packet. By giving them a warm welcome, you start your relationship off on the right foot and show them that you want them to feel at home. Great landlords deserve great tenants, and the same is true vice versa!
In the state of Colorado, there is no law requiring tenants to have renters insurance. However, there is a law stating that tenants must pay for any property damage or bodily injury that is caused while living in your rental property. Even though there is no mandate for renters insurance, many landlords elect to require coverage as a condition in the lease.