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marketing a rental property

3 Mistakes Landlords Make When Marketing a Rental Property

Every property owner wants to attract good tenants that pay rent on time and take good care of their living space. However, that is often easier said than done! Working with All County Denver Metro Property Management is one way to simplify the process, but there are also some easy ways to do a better job marketing a rental property. What mistakes should you avoid?

Copying Others

When you are trying to determine the best ways to start marketing a rental property, it can be tempting to see what everyone else is doing to follow their lead. While that can give you a few ideas, it can also lead to you replicating things that aren’t appropriate for the audience that you’re trying to market to. The tactics that attract families with two kids to an apartment complex are totally different from the ones that attract older empty-nesters looking for peace and quiet. Make sure that you are thinking about your audience throughout the marketing process.

Not Having High-Quality Listings

Today’s renters are more comfortable renting without seeing a property in person thanks to the COVID-19 pandemic, but that has led to an increase in expectations for what a listing should include. When marketing a rental property, make sure that your listing includes:

  • What amenities are included (including if things like water or electricity are covered)
  • High-quality photos of each room
  • The location
  • How close the property is to notable local attractions
  • Dimensions
  • As much detail as possible

It might seem like it’s a waste of time to create an in-depth property description, but the time that you invest into marketing a rental property will pay off when you attract higher-quality tenants. Time spent creating a comprehensive listing will also save you time in the future, as prospective tenants may call and email questions that could have been answered preemptively in your listing.

Working Alone

As a landlord, you have a lot of different things on your plate. By working with the right property management company, you can make marketing a rental property easier. When your current tenants are happy, your properties can even start to market themselves! We simplify the property management process so that everything is properly maintained, tenants are happy, and there are many people who can’t wait to start renting one of your units.

Choose All County Denver Metro for Expert Property Management Services

Looking for a top-notch property management company? All County Denver Metro Property Management is here to give property owners confidence in the quality of their tenants and the security of their property through knowledgeable and trustworthy property management services. From managing tenant relationships to pricing rent to lease enforcement, we look forward to working with you to see how your investment can be a long-term, stress-free asset. For a complimentary quote or further information, call us today at (720) 575-6100.

property management company

How to Know When You Need a Property Management Company

How do you know when it’s time to hire a property management company? The answer isn’t as simple as you might think. Feeling stressed and overworked is an indicator, but not every property owner sees this as a sign that they need professional assistance. For some, a stress at work comes with the territory, and they believe they’re handling it fine.

Some property owners hesitate to seek help because they believe the cost outweighs the benefits. Others prefer to have total control over their business and balk at the idea of giving that up. There may, however, be some signs that suggest a change in perspective is needed. The last thing a property owner wants is for their business to go under when it could have been avoided. A great first step is to consider trying something new.

Still, what’s the best way for you to know exactly when your company needs extra help? This guide will walk you through the signs to look for and the benefits of hiring a property management company.

How to Know You Need a Property Management Company

Once-Steady Revenue is Declining

Declining revenue is usually the first major sign that you need a property management company. However, some property owners don’t see it that way. They tell themselves that businesses always go through ups and downs. In their eyes, hitting a bump in the road isn’t anything to be worried about.

The truth is that it depends on the situation. If revenue declines for a month and quickly picks back up again, that may not be a serious problem. If profits continue dropping (especially across multiple properties), that’s more concerning. No property owner wants to lose their business. In this case, it’s best to reach out for outside help. Property management companies don’t just keep house; they help clients maximize their revenue. A skilled company will help set the right prices, keep your units occupied, and increase your cashflow.

You’re Losing Track of Important Tasks

It’s critical for property managers to stay organized. This is especially true if you own multiple properties. Being a property owner also requires you to stay on top of maintenance as well as federal and state laws. If maintenance calls are going unanswered for a long period of time, that’s a troubling sign. If you cannot maintain your legal knowledge, you are also at a disadvantage. Staying compliant with the law is key to running a successful property management business.

Let’s say repairs aren’t being completed quickly and the lack of upkeep is starting to show. Some laws have changed recently, but you haven’t had time to review them. It feels like you’re being spread thin and are losing track of what you need to do. Chances are, you’ll benefit from having a property management company by your side. They can make sure maintenance needs are addressed in a timely manner. Furthermore, they can protect you from violations that lead to expensive and sometimes devastating fees.

Tenants are Expressing Concerns

It’s normal for tenants to express concerns about the noise level or a broken dishwasher. However, if they’re unhappy with the way you’re running your business, it could be a sign of a larger issue. When your tenants aren’t satisfied or they feel like they’re not being treated fairly, they’ll likely move on. They might even post negative online reviews telling others to avoid your property. A poor reputation takes a long time to rebuild, and it can lead to more vacancies over time. If several tenants are expressing concerns regularly, you might benefit from hiring a property management company. They’ll not only manage your landlord-tenant relationships, but identify the root cause of problems that lead to complaints.

Choose All County Denver Metro for Expert Property Management Services

Looking for a top-notch property management company? All County Denver Metro Property Management is here to give property owners confidence in the quality of their tenants and the security of their property through knowledgeable and trustworthy property management services. From managing tenant relationships to pricing rent to lease enforcement, we look forward to working with you to see how your investment can be a long-term, stress-free asset. For a complimentary quote or further information, call us today at (720) 575-6100.

things to do in Denver

The Best Things to Do in Denver this Spring

Searching for fun things to do in Denver this spring? Look no further! Spring is a wonderful time to explore Denver, and there are plenty of activities and events taking place this season. We’re guessing you’d like to get outside to enjoy the stunning blue skies and blooming greenery. In order to help you brainstorm, we’ve compiled some of our favorites. Whether you’re visiting, new to town, or simply looking for something different to try, you can make the most of your time by checking out the following list:

The Best Things to Do in Denver this Spring

Check Out Denver Botanic Gardens

When Spring has sprung, there’s no better place to visit than Denver Botanic Gardens. Here you’ll find gorgeous flowers in bloom, bonsai trees, an indoor tropical garden, art installations, sculptures and so much more. Best of all, there’s always something exciting going on at the Gardens during springtime. Right now, you can do yoga, learn how to prune evergreen shrubs, participate in a nature writing workshop, and enroll your kids in a “New Gardener” boot camp. If you want to get ahead of the game, tickets to their Summer Concert Series also go on sale this month.

Taking a stroll through the Gardens is one of the best things to do in Denver in Spring. We encourage you to visit their website to see their full calendar of events!

Hike at Castlewood Canyon State Park

Only a 45-minute drive from Denver, Castlewood Canyon is a great choice for hikers this spring. Trails range from mild to moderate difficulty, which is ideal for both families and experienced hikers. Leashed pets are also welcome on most trails. Cherry Creek and Bridge Canyon Overlook are two beautiful must-see spots at the park. Additionally, over 100 bird species call the park home, among other wildlife such as mule deer and cottontail rabbits. Nature lovers, photographers, and rock climbers will love spending the day there. There are also 30+ picnic sites at the park, so be sure to pack a lunch and stop to take in the views!

Get Tickets for Regenerate Festival

If you’re a music fan looking for things to do in Denver, you can’t miss this upcoming event! Regenerate Festival is set to take place on Saturday, April 22nd at Denver’s Civic Center Park. Acts include Diplo, CAMELPHAT, Charlotte de Witte, DJ Hanzel and several others. There’s nothing like enjoying a warm spring day with friends while listening to your favorite music. Civic Center Park is also located in the heart of Denver, so you can get out and explore the city afterward.

Tickets range from $80 for General Admission to $250 for VIP.

Visit Elitch Gardens Theme Park (Opening April 30th)

Many families are on the hunt for fun things to do in Denver this time of year. Elitch Gardens is the perfect spot for kids and adults alike. Grab a seat on the Boomerang or Brain Drain to get your rollercoaster fix, then play arcade games for hours or take a dip in Commotion Ocean! No matter what you’re in the mood for, you’ll never be bored at this amusement park. The season opens next month, and passes are on sale now (with free parking and complementary bring-a-friend tickets!).

Partner with All County Denver Metro Property Management

Looking for a top-notch property management company? All County Denver Metro Property Management is here to give property owners confidence in the quality of their tenants and the security of their property through knowledgeable and trustworthy property management services. From managing tenant relationships to pricing rent to lease enforcement, we look forward to working with you to see how your investment can be a long-term, stress-free asset. For a complimentary quote or further information about things to do in Denver, call us today at (720) 575-6100.

overpricing your rental property

What Are the Risks of Overpricing Your Rental Property?

Landlords know tenants are their chief source of income. The biggest mistake you can make, then, is overpricing your rental property and chasing off prospective tenants.

If inventory is low and demand is high, landlords can often get away with listing their properties at top market price. If other comparable properties are listing between $,1800-$2,000 per month, for example, pricing yours at $2,000 is an option. However, some landlords fall into the trap of believing their property is a cut above the rest. Going way beyond top market price is a major risk, and 99% of the time it doesn’t pay off. Here’s what you stand to lose by overpricing your rental property and refusing to follow the market.

What Are the Risks of Overpricing Your Rental Property?

It Will Sit on the Market

The longer you allow your property to sit, the more money you’ll lose. Think of it this way. Perhaps your $2,400 per month property sits vacant for 2 months. That’s a total loss of $400 per month spread over 12 months. Ultimately, the best way to avoid significant losses is to keep your property occupied. This means pricing it correctly and using the local market as a guide.

Your Tenants Will Notice the Property is Overpriced

When tenants are paying top dollar, they expect their home to be move-in ready, in great condition, and presented as advertised. Overpricing your rental property and not providing tenants with what they expect will lead to tenant dissatisfaction. Unfortunately, unhappy tenants don’t make conscientious tenants. Tenants who are willing to overpay aren’t necessarily the most qualified, either. You don’t want to be faced with lease violations, frequent late payments or property damage.

How Can You Avoid It?

Understand that the Market Dictates the Price

Overpricing your rental property isn’t going to work out in the end. You need to be sure to compare the price of your property with similar properties in the same area. This is the best and only way to guarantee a steady stream of tenants and thus a stable income.

Be Realistic about Your Property

You might think your property is the most attractive on the market, but you still shouldn’t overprice it. Most renters are concerned with finding an affordable home in their price range. The cost of living is high today, you won’t be able to attract tenants if your property is the most expensive option. Examine other similar properties in your area and take a hard look at your own. The market always dictates rental prices.

Here are our final words of advice: to remain in business for a long time, landlords need to be realistic and abide by the market.

Choose All County Denver Metro for Expert Property Management Services

Looking for a top-notch property management company? All County Denver Metro Property Management is here to give property owners confidence in the quality of their tenants and the security of their property through knowledgeable and trustworthy property management services. From managing tenant relationships to pricing rent to lease enforcement, we look forward to working with you to see how your investment can be a long-term, stress-free asset. For a complimentary quote or further information about overpricing your rental property, call us today at (720) 575-6100.

3 Nice Ways to Thank Your Tenants on Valentine’s Day

Valentine’s Day is the perfect time to thank your tenants and make them feel special. You don’t want to miss an opportunity to connect with residents and show your appreciation. Remember, it’s the little things that make tenants feel at home on your property. Maintaining tenant satisfaction and improving landlord-tenant relations begins with having a positive impact on their day. The best way to encourage tenants to renew their leases and pay on time is to provide them with a good experience. Here are 3 nice ways you can show them some love and gratitude this year:

3 Nice Ways to Thank Your Tenants on Valentine’s Day

 

Send Your Tenants Thoughtful Valentines

A simple gesture like sending valentines to tenants can put a smile on their faces. This also gives your message a seasonal touch compared to standard greeting cards or letters. Inside, write a personal note by hand to thank your tenants. If you don’t know your renters well enough yet, you can always welcome them to the property. You can also throw in a small box of candy hearts or a piece of chocolate. Who doesn’t love a little chocolate on Valentine’s Day?

Schedule Spring Check-Ins

If you don’t want to get too sentimental, there are plenty of other ways to thank your tenants. These days, everyone has busy schedules to manage, and it’s hard to find time to minor maintenance issues. Scheduling spring check-ins on Valentine’s Day is a thoughtful (and practical) way to show tenants you care. Everyone likes to feel valued, and your tenants will appreciate you taking the time to meet with them. As a bonus, you’ll also be able to plan for repair issues that need addressing soon.

Host a Resident Event

Since the pandemic and the rise of remote work, people everywhere have been feeling more isolated. Valentine’s Day is a wonderful time to get tenants to come together. You don’t have to hold a Valentine’s event that’s just for couples, either. You could host a craft event for families with kids, an all-ages movie night, or a dinner at a local restaurant. Whatever you choose to do, be sure to thank your tenants for making your property such a great place to live.

Partner with All County Denver Metro, Your Go-To Property Management Company

Looking for a top-notch property management company? All County Denver Metro Property Management is here to give property owners confidence in the quality of their tenants and the security of their property through knowledgeable and trustworthy property management services. From managing tenant relationships to pricing rent to lease enforcement, we look forward to working with you to see how your investment can be a long-term, stress-free asset. For a complimentary quote or further information about ways to thank your tenants, call us today at (720) 575-6100.