8 Questions to Ask Before Hiring a Golden Property Manager

When you’re choosing a Golden property manager or getting acquainted with the systems and processes of a new management company, there are a few questions that you should ask as soon as possible. These things are inherently important to your ROI and your success as an investor.

Most rental property owners remember to ask how much services cost, but they forget to measure those costs against the value that the property manager provides. These questions can help you understand what you’re really getting when you hire a property management company.

1. How many hours of education do you and your staff acquire each year?

It’s important to know that your property managers stay current in the industry. Laws are changing all the time, technology is evolving, and there are best practices to adopt based on what’s working and what isn’t. Find out if your property manager values education and how that education is translated into better service.

2. How many “Professional Property Management” meetings and conventions do you attend annually?

Like education, professional development is also critical. You want to know your property manager is engaged in the industry. It’s not enough to be a leader locally; you need someone who will invest in development and growth. It translates to better results for you and your properties.

3. How up to date is your team on local and federal laws and regulations?

It’s easier than ever to make an expensive legal mistake in the leasing and management of your rental property. Your property managers need to understand fair housing laws inside and out. They need to know what the local laws are for evictions and security deposits and rental increases. It’s your property manager’s job to keep you compliant and to reduce your liability and risk.

4. What are your vacancy and turnover rates?

Vacancy is expensive, and the longer your home sits on the Golden rental market unoccupied, the more money you’re in danger of losing. Ask your property manager how long you can expect your home to be vacant and whether they have high tenant turnover.

5. How do you handle evictions?

A federal ban on eviction remains in effect for tenants who have been financially impacted by COVID. It’s essential that your property managers know that. Ask how evictions are normally handled and what they’ve been doing during the better part of 2020 to ensure that rent is collected and evictions are minimized even during the pandemic.

6. Where do you find your vendors, and are they licensed?

Working with unlicensed and uninsured vendors is dangerous. It might save you a few dollars, but it can cost you thousands in risk, lawsuits, and additional property damage. Make sure your property manager only works with licensed and insured contractors. Get to know their maintenance process. You’ll want to understand whether it’s handled in-house, outsourced, or if there’s some combination of both methods.

7. Do you invest in technology?

Technology helps us with everything from marketing to leasing to screening and maintenance. It allows us to offer online tenant portals where rent is collected and paid digitally. A company that refuses to invest in technology will have a difficult time being transparent, accurate, and accountable.

8. Do you use PetScreening.com for tenants, even those without pets?

Do you use PetScreening.com for tenants, even those without pets?PetScreening.com is a great tool that helps us provide peace of mind to our owners who are worried about the damage that pets can do. We make sure all of our tenants understand that they cannot acquire a pet without permission. Everyone is screened through PetScreening.com, and we make sure our pet-friendly properties carry as little risk as possible.

We know that we provide a lot of value for our Golden property management customers, and we’d love to answer these questions in detail for you. Contact us at Laurel Property Services, Inc.

4.9/5
4.9 /5
63 Reviews

Survey
5.0/5
Jan 22, 2021
Laurel Property Services
After a year like 2020 along side covid19 wave of events I'm thankful Laurel Property had put things into order when I was having related plumbing issues next to the bar beneath my residence. Happy new year to Laurel Property
Survey
5.0/5
Jan 17, 2021
Laurel Property Services
I really, really appreciated all of Crystal's help! She was absolutely wonderful, incredibly knowledgeable, kind, and acted swiftly on all of my requests. Please pass along this message to her and her direct manager.
Survey
5.0/5
Jan 12, 2021
Laurel Property Services
Job completed
Survey
5.0/5
Jan 12, 2021
Laurel Property Services
We had a difficult situation with our property which was nobodies fault, but Laurel Properties handled it very well and we’re very accommodating through the whole thing. Sondra was amazing and very helpful
Survey
5.0/5
Jan 12, 2021
Laurel Property Services
Great job responding to a leaky toilet and shower. They were able to fix both timely in a professional manner. Thank you.
Survey
5.0/5
Jan 8, 2021
Laurel Property Services
The whole process was very fluid and everything works flawlessly.
Google
5.0/5
Jan 5, 2021
Google Laurel Property Services
I wish I could give Laurel Property Services more than 5 stars. They started managing our rental property in 2019. They have been wonderful to work with and extremely responsive. I tried managing our property for years, and would always get the dreaded emergency phone call from the tenants when on vacation or during busy times at work. Now I regret not going with Laurel Property Services sooner. Sondra and Laurel make it so easy for us, give us priceless advice, and best of all, I have the peace of mind that everything is being taken care of for us and our tenants.
Survey
5.0/5
Jan 2, 2021
Laurel Property Services
LPS responded immediately to our message of dying Carbon Monoxide/Smoke detectors by ordering a set on Amazon and having them delivered here. They arrived the next day. Perfect service.
Google
4.0/5
Dec 21, 2020
Google Laurel Property Services
Easy to work with, on top of things, good people.
Survey
5.0/5
Nov 5, 2020
Laurel Property Services
Sondra and her team go the extra mile.

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Our Location

1214 Washington Avenue
Golden, CO 80401

Monday – Friday : 9am to 5pm