DenCo Property Management Blog

Improvements You Can Make to Your Residential Investment Property for Tenants


January 10, 2018

Are you looking for ways to attract tenants more quickly? Or trying to make your residential investment property more profitable? There are many upgrades and improvements you can make to accomplish these goals. From paint, flooring and appliances, to convenient payment methods, learn about the top areas you can improve to make your unit more attractive.

Fresh Coat of Paint

While it’s not the law in Colorado to apply fresh paint to a home in between tenants, as it is in other states, it is beneficial for prospective renters. Fresh paint will make the space feel fresh and new. If you have small rooms with dark colors, changing the color to a light shade will help the space feel larger. In your rental units, opt for a high gloss as this paint type is easier to clean and maintain. Semi-gloss paints are also a good choice, in particular for kitchens or bathrooms where there is water and moisture. When painting, choose a neutral color that will help prospective tenants envision themselves in the space.

Hardwood Floorin

If ready to upgrade your flooring, hardwood is a premier choice to increase the value. Hardwood is a flooring option that is easy to clean and maintain. True hardwood has longevity, allowing for a much better return on investment than carpet. On average, carpeting in rental units will need changed more often than hardwood. This could be as quick as every four to five years. With each set of people that live in a property, there will be more dirt and debris embedded within it that will carry over.

Appliances

When you have outdated appliances, not only is it a deterrent to prospective tenants, but can be unpleasant for current ones. Plus, older appliances can also be energy draining. When you purchase energy efficient models, you will save in the long run. So how much can you save? For example, according to Energy.gov’s explanation of kitchen appliances, refrigerators will use up to 25 percent less energy and dishwashers will use 4.25 gallons of water per cycle or less. This is huge as older models can use 10 gallons of water per cycle or more! You can explore more savings by estimating appliances and home electronic energy use. For aesthetics, stainless steel models are most popular among tenants. However, if this is not in your price range, opt for a black exterior. They will show imperfections less, helping them last much longer.

Convenient Payment

Having a convenient way for customers to pay their rent each month is beneficial. If you require your tenants to pay using check and drop it into a drop box, consider an electronic method instead. On average, at least half of consumers prefer to pay bills online. While this is convenient for them, it also has perks for you too. When giving tenants the option to pay online, you can give them incentives for recurring payments. This ensures rent is paid on time, every month. You can do this with a small deduction off rent, or for a $50 gift card upon signing up.

One last improvement you can make to your rentals is to take advantage of a property manager. This will help you provide excellent customer service for your tenants, while helping you run things more efficiently. As you explore our information for Denver property owners, you will be able to find the services that work best for you. Call us today at 303-722-9688 to see how we can help!
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Winter Maintenance Tips for Your Property Management in Denver


December 13, 2017

Ensuring your properties are prepared for winter is crucial for the investment you have made, as well as your tenants. As a landlord, it is your job to create and maintain a safe environment for those who live in your space. With a new season upon us, now is a great time to remind yourself of the tasks to complete. From tackling things indoors to outside necessities, learn the best techniques and benefits of utilizing property management in Denver to help complete these much needed tasks.

Indoor Tasks

Freezing pipes are a common issue that can be costly when not properly handled in the winter. First, make sure your tenants know how to avoid freezing pipes in their home or unit. Remind them to keep thermostats above 55 degrees if they go out of town and to leave faucets on a slight drip on super cold nights. If you have pipes that may be more likely to freeze, you can wrap them with insulation to keep them at temperature. You can learn how to prevent water pipes from freezing, and how to thaw them if they do freeze from the Red Cross. Next, make sure there is proper insulation and weather stripping around your windows. This will keep your units from being drafty and therefore increasing utility bills. Last, have a professional check your service boilers and furnace, and provide maintenance as needed.

Outdoor Tips

The roof and gutters can be a target for issues when not properly cared for. If there are trees around the roof, make sure they are trimmed. This will reduce the amount of debris falling onto the roof and gutters. Speaking of gutters, late fall is the ideal time to clear them out. When there are leaves and other items clogging them, they fail to do their job. Once temperatures drop to freezing, so will any water build up in the gutters. This can lead to gutter sagging and breakage—which will damage your roof. If you have a building, make sure you have a plan in place for snow and ice on walkways. They must stay clear to ensure the safety of your tenants.

Utilizing a Property Management Company

Owning a rental property can be a lot of work, especially during the winter. Extra maintenance is needed, leading to a time investment you may not have. This is where a property manager can assist—especially for your winter needs. As an expert, they will act in your best interest, and make the environment safe for your tenants. From handling leasing to maintenance, you can utilize them to maximize your time and budget.

To help you with your rentals, DenCO’s information for Denver property owners and services will help you manage your units. Let us do the heavy lifting so you can focus on your day-to-day. As your full-service property management company, we offer all services that you may need to help you manage your property and work with tenants. Call us today at 303-722-9688 to see how we can help you.
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Top Ways to Reduce Energy Bills Explained by Colorado Property Management


November 29, 2017

As an owner of a building or home in Denver, informing your tenants of the ways they can reduce their energy bills is key. Not only will this put more money back into your tenant’s pockets, but will help you as a property owner too. In addition, there are many recommendations by your local Colorado property management company that you can install to increase energy efficiency. Learn the importance of airflow and air filters, reducing water consumption, and how energy efficient windows and appliances will help.

Airflow and filters

Proper airflow is important for energy efficiency in a home or apartment. Understanding air flow in homes for energy efficiency will help keep bills lower. When there is not proper flow, it can create an environment that is welcoming to mold, dust, and bacteria in the air. It is important to ensure all air ducts and vents are clean. This is great to do in between tenants, or at least every three to five years. Next, to assist in proper airflow, you can install energy efficient ceiling fans to aid in maintaining the temperature. For instance, in the summer, when installing, make sure they go in a counterclockwise direction. This will take hot air, pull it in, and help it blow out. Then in the winter, switch the direction to encourage the heat to stay inside.

Reduce Water Consumption

As a property owner, installing energy efficient water fixtures will help to cut down on water use. This includes faucets, dishwashers, toilets, shower heads, disposals, washing machines, and more. While preparing to shop, you can find product rebates and other special offers from ENERGY STAR to see what additional pricing benefits you can take advantage of. Next, give your tenants a handout on ways they can decrease their water use. This includes taking quicker showers, monitoring water bills, and not leaving the water running for certain activities such as brushing one’s teeth. Also, make sure there are no leaks in the plumbing. This is a huge culprit for higher water bills.

Energy Efficient Windows and Appliances

It is important to do everything you can to make sure the air from the outside doesn’t make its way inside. When an apartment or home has inefficient windows, air will leak in. In response to this, the heating and cooling system will run more often to try to correct this problem. You can also install energy efficient appliances to help cut down bills each month. This ranges from refrigerators and ovens, to microwaves and vent hoods. These appliances use a significantly less percentage of energy on a monthly basis.

If you are deciding to make the leap and become a property owner, DenCO Property Management and Sales can help. Not only will we help you get the most of your rental, but also can take over any of the responsibilities to help you be successful. Learn about the five ways Colorado Property Management will help your investment real estate. To get started, call us today at 303-722-9688.
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Thanksgiving Safety Guide for Tenants from Denver Real Estate Experts


November 15, 2017

As a landlord, you want to help your tenants have a safe and happy Thanksgiving. Why? Your investment depends on it. With the holidays just around the corner, now is the time to send the people living in your property key reminders for best practices to avoid issues. Through sending out an email or posting flyers in your Denver real estate common areas, you can inform tenants how to avoid a fire and keep pets safe, as well as a food and cooking guide to avoid mishaps.

Avoiding Fires

Fires are one of the most common mistakes that occur while cooking a Thanksgiving dinner. Those cooking often leave ovens and stove tops empty to handle another task, which in just a matter of seconds, can become a dangerous situation. Also, utensils, towels, or loose clothing may be left too close to a flame, causing it to get bumped into the fire. These incidents can happen within a moment’s notice and those cooking or helping to prepare a Thanksgiving dinner must be aware of their surroundings. For those who prefer deep fried turkey, tenants must remain attentive and avoid this method in areas that can easily catch on fire. To help combat the spread, make sure there are fire extinguishers with instructions in all of your units. 

Pet Safety

Thanksgiving is an important time to pay attention to the pets in a property. With several moving pieces going on during the day, it can be easy to forget about them. Plus, with several guests in a house, pets may interact with pets in a way the tenants never would. When sending out a reminder, you should tell tenants to avoid giving their pets anything that would be on the dinner table. Unless it is food they normally eat, it is best to play it safe. A common scrap from the Thanksgiving day table, bones can get lodged or cause damage to a digestive tract, or can cause a dog or cat to fall ill. Not only will this create a mess that may be difficult to clean, but it can become costly for the pet owner.

Food and Cooking Guide

Cooking food properly is essential to a safe Thanksgiving. Whether a person is cooking the turkey or a side, food must be cooked to temperature. If not, those who consume it may become sick. Remind tenants to cook foods based on specified guidelines. Failure to do so can cause foods to be in the “danger zone,” which is 40 to 140 degrees. Once food falls in this category, it does not kill bacteria. In your reminder to tenants, tell them to keep a thermometer handy to ensure food is cooked to the correct temperature.

During the holidays and many other events throughout the year, you may have to deal with issues or have tough conversations with tenants. DenCO Property Management and Sales excels with working with tenants. This helps ensure the quality of your investment stays intact. Review our three ways to make sure your residential investment is profitable, and contact us at 303-722-9688 to see how we can help you with your property this holiday season.
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Rules to Consider for Tenants in Your Denver Investment Property


As a landlord, you want to make a great experience for your tenant to have a home, all while making sure you are doing what is best for your Denver investment property. Whether you are getting ready to lease out your first property, or you are a seasoned veteran, it is important to know the guidelines for your tenants—and which ones to set. Learn about some of the top considerations to make including how to handle home modifications, go-to tips for pets, and other ideas for the property and payments.

Home Modifications

Ultimately, it is up to you, the property owner, to decide what modifications a tenant can make. You can categorize them by changes the tenant can make on their own, changes they can make upon approval, and changes they are not able to make under any circumstances. When making considerations, normally hanging items, such as art, pictures, or mirrors, on the walls is typically something that is relatively low when it comes to damage. You can make it clear in the lease what type of damage may result in part of the security deposit being retained, but they can take that risk on their own. Making larger modifications such as painting or other renovations or fixes must be discussed with you. Lay a list of examples out to them when signing the lease. Then, you also need to make a list noted in the lease on what they cannot do with the property.

Pets

As a property owner, it is your choice if your property can be rented by pet owners. If you are looking to expand your availability, this is a good option to have available. Regardless, you must discuss in your lease. You can set guidelines on the type of animal, such as dog, cat or both, as well as size. For instance, you may want to set rules on the size of dogs if you are renting out a small unit. Next, if allowing pets, it is best to have the tenants pay a pet deposit in the event of damage caused by a pet. It is up to you whether you would like that to be refundable. Learn more about the four steps for a great rental pet policy from The Balance for a more in-depth list.

Others in the Property and Payments

While finalizing your lease for new tenants, it is important to make stipulations on others in the home. This can include how many can be living in the home at one time, who is responsible for the property, and more. Next, paying is important to review for tenants. In addition to setting a deadline for rent, make sure to lay out the options for pay. Keep in mind that many can be relied on to make payments when online and re-occurring options are available

To assist you with any step of being a property owner, DenCO Property Management and Sales has a variety of services. As your premier local property management company, we help you by providing our expertise in all areas of property management. From helping with a few small things, to completely managing a property, we are here to provide quality property management service to you. Be sure to know what to know before buying your first Denver residential rental property and call us today at 303-722-9688 to see how we can help.
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