Ask These Questions to Know Your Property Will be Leased Quickly to High Quality Tenants
Long vacancies are expensive, and unqualified tenants can be a menace. The answers to these questions will tell you whether your property manager understands leasing.
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Leasing Questions
How do you determine the rental price for my property?
Understanding how your property manager sets rental prices tells you if they consider comparable properties in the area, market trends, and the unique features of your property. We price your rental competitively, accurately, and profitably.
What does your lease agreement cover?
Inquire about the standard terms included in a lease agreement. These should protect both you as the landlord and the tenants, covering aspects such as rent payment schedules, maintenance responsibilities, and conditions for lease termination. Our leases are compliant and enforceable in Colorado.
How do you handle lease renewals?
Ideally, they conduct market reviews to adjust rent accordingly, communicate with tenants well in advance of lease expiration, and manage any necessary paperwork efficiently. We have a high tenant retention rate.
Marketing Questions
How do you market vacant properties?
A strong marketing strategy is crucial for minimizing vacancy periods. Ask about online listings, social media, and their own website.
What is your average time to fill a vacancy?
A good property manager should have a quick turnaround for filling vacancies. At Laurel Property Services, we waste no time.
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What is your tenant screening process?
Tenant screening is necessary for maintaining stable income and minimizing issues. A thorough screening process should include credit checks, reference checks, income verification, and rental history evaluations. We stand by the tenants we place.
How do you ensure compliance with fair housing laws?
Your property manager must be knowledgeable about and adhere to all local and federal fair housing laws. This prevents discrimination and potential legal issues while ensuring a fair selection process for all applicants. At Laurel Property Services, we stay up to date with all state and federal laws.
Questions to Help You Understand How Your Wheatridge Investment Will be Managed and Maintained
Once a tenant is placed and a lease is signed, you need to know that your property manager is effectively managing your Wheatridge rental home. Here are questions to ask.
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Management Questions
What is the process for collecting rent?
You need to know when you can expect your rent to be paid and what the process is if rent does not come in when it’s due. We have a strict rent collection policy that’s consistently enforced, ensuring you get paid on time.
How do you enforce the lease?
Are there inspections, frequent tenant communication, or an occasional drive-by of the property? At Laurel Property Services, we do all those things and we also establish and maintain excellent relationships with our residents, ensuring that everyone understands the expectations and responsibilities found in the lease agreement.
Do you manage my accounting?
You should be getting frequent and regular accounting reports and financial statements that reflect how much you’re earning and what you’re spending on your rental property. We provide an easy online portal that owners can use to check on where they stand, review maintenance and other invoices, and send us messages and questions.
Maintenance Questions
How are maintenance emergencies handled?
Your property manager should be the point of contact when something goes wrong at the property. Find out what the procedure is for reporting and managing any maintenance emergencies. You’ll want to know how you’ll be contacted as well. We are fortunate that maintenance emergencies are rare, thanks to our focus on preventative and routine maintenance services.
How do you choose vendors?
We have a preferred list of vendors, contractors, and service professionals who we have been working with for years. Because of the volume of work we provide, we enjoy deep discounts and priority service. Find out how your property manager handles these relationships, and whether they can deliver any benefits or perks when it comes to maintaining your property expertly and cost-efficiently.
How do you update my property?
An old and deteriorating property will not rent to great tenants for top dollar. Find out how your property manager makes improvements. We make market-driven recommendations that increase earnings, property value, and ROI.
Ask Us Your Wheatridge Property Management Questions
Now that we’ve shared some of the questions you should be asking your property manager, we’d be happy to answer any of your other questions!
Laurel Property
Services, Inc.
Our Location
14143 Denver W Pkwy #100 Golden CO 80401
Monday – Friday : 9am to 5pm
