DenCo Property Management Blog

​Top Electrical Upgrades to Make to Your Denver Real Estate


May 17, 2017

When you are remodeling or considering upgrades to a home or apartment complex, you may have simply forgotten about the electrical needs. Many remodeling projects need updated electrical for functional and safety needs, also upgrading the lighting can complement your remodel and add a high end touch. From overall home or apartment upgrades to kitchen and bathroom remodeling, learn about some of the top updates to make to your Denver real estate pop.

Overall Home Upgrades

Depending on the age of your home or apartment complex, you may need rewiring. With all of the technology and appliances we use today, your old wiring might not be capable of handling your needs or the needs of your tenants. In many cases your old wiring may no longer meet code. If you notice warning signs such as fuses being blown frequently, lights that flicker or seem dimmer than they should be or a spark coming out of an outlet, it might be time to consider a rewire. In addition, if you do not have ground fault circuit interrupter (GFCI) outlets in rooms where there is water, you will need those added for safety. You can have a local electrician assess your property and inform you of what you will need to do for the project. Then during your rewire project, you can add additional outlets to places that would be more convenient. It is also a great time to add plugs to accommodate your devices that include portlets for items such as USB.

Kitchens and Bathrooms

Kitchens and bathroom are two rooms in a home that get frequent electrical use. For kitchens, adding in outlets to accommodate any of your small appliances can be helpful when cooking. Lighting is another addition to make in kitchens though too. Consider adding recessed lighting underneath your cabinets, controlled by a switch upon entry. This is great for setting a mood or ideal if you are just popping in the kitchen at night to grab something and do not need all the bright lights on. For bathrooms, often the lighting can be extremely unflattering. This is not helpful when trying to get ready in the morning! If you have long lights along the sides of your bathroom mirror, consider adding lighting above instead. Or, add smaller sconces on both sides. Also, if you also have overhead lighting in a bathroom, consider adding a dimmer. For more tips on bathroom lighting, read This Old House’s A Lesson in Bathroom Lighting.

Living Rooms

For large living spaces, such as family rooms or basements, it is helpful to have a variety of lighting opens to accommodate all using those spaces. For instance, adding in a dimmer is helpful if the mood changes quickly. For instance, if you are playing games, you might want all the lights on bright. But if you are watching a movie, you might want to turn the lighting down some. It is also helpful to have plenty of outlets as well to accommodate everyone’s charging needs. Last, a fan or ceiling light is a great accent piece to add to a living room as well.

If you are looking to upgrade your current rental, these are some ideal changes to make with your electrical equipment. Need assistance with your rental properties? DenCO Property Management and Sales can help. Learn more about real estate investing in Denver and contact us at 303-722-9688 to get started.
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Upgrades to Make to Your Investment Property in Denver


May 3, 2017

Are you looking for ways to help increase the return on your investment when it comes to your investment property in Denver? It is important to make certain enhancements and upgrades to obtain new tenants and retain current tenants. Painting, flooring, upgrading fixtures, review some of these ideas to consider for your rentals.

Paint and Floors

Whether you are preparing to purchase your first investment property or are needing to make upgrades after a set of tenants move out, it is important to review your walls and flooring. If the walls have not been painted in years or have many scuffs, dings, and other issues from previous tenants, painting the walls can provide a fresh, clean look. When choosing paint colors, pick ones that are neutral. This will help prospective tenants envision themselves in the space. As for flooring, follow the same guidelines. If there is carpet in the home, evaluate the condition to see if it is better to deep clean the carpet or replace it. For wood floors, evaluate if they need sanded or replaced.

Kitchens and Bathrooms

Kitchens and bathrooms can really dress a home up or down. Today, many property owners are installing stainless steel for appliances and granite/stone for countertops. If you choose to install these features, you can increase the amount of rent to reflect that. If you choose to keep plain white or black appliances and laminate counters, you can still consider the condition and upgrade or replace if necessary. However, having these upgrades will improve interest. Also, you can invest in upgrades fixtures such as faucets, knobs, shower features and more. If doing this, make sure there is consistency amongst all finishes. For instance, make sure they are all nickel, brass, chrome, etc.

Repairs

Before tenants move into your rental property, it is imperative to make sure any repairs are made. This can include small things like fixing a faucet, but there are also larger issues too. The roof is a major instance that needs reviewed. If the home is 20 years or older, it is time to have it inspected. If the home is newer, you can check the roof for any leaks, missing shingles or other issues and can work with a local roofer to fix. Check with your insurance to see what they will cover. It is also important to make sure the home is energy efficient. One of the best ways to do this is with windows. This can provide long term savings. Next, make sure the heating and cooling, electrical outlets and appliances are all working properly. If any do not work properly, this is the time to make sure they are updated.

For more details on enhancing your rental and the advantages of working with renters read what Bob Vila has to say on renovating your rental. When it comes to managing your rentals, DenCO property management and sales can help. As a locally owned and managed firm with over 20 years of experience, you can count on us to help you make important decisions with your rentals. To get started, contact DenCO Property Management and Sales today to get started.
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Top Ways to Be a Good Tenant from Your Local Denver Residential Property Manager


April 19, 2017

Whether you are getting ready to rent for the first time, or have rented multiple properties, renting has many perks. As a tenant, having a good relationship with your landlord will help make for a seamless experience while living in your home. From getting into a lease and being respectful and responsible, to providing details, be sure to learn these top ways to be a good tenant from your local Denver residential property manager.

Getting into a lease

When signing a lease, it is important to actually read through it to understand what the terms and conditions are. Then even after you sign your lease, if you have a change that means breaking something that was in writing, do not be defensive about it with your landlord. Depending on the situation, they may be able to work with you and could potentially be more willing if you are upfront, understand what you signed and politely ask for assistance. Also, be aware that they may not be able to accommodate your request—and as a tenant, be okay with that. Also, when signing a lease, getting renter’s insurance should be a priority. This may even be something that your landlord requires in the lease.  

Be respectful and responsible

As a renter, be respectful of your rented space. It is your home and you should treat it with care. Even though it is not an investment the way a house is, you are still spending your hard-earned dollars. To add to that, pay you rent on time too. While it seems trivial, many forget, let other priorities come first—so you should always be conscious of your financial obligations and make sure they all get paid on time. Next, going back to your lease, make sure you are aware of what changes you can make to the space. So, for instance, before you paint, change fixtures, or get a pet, know what the rules are. Then also when it comes to being respectful, be respectful to your neighbors. Whether you live in a house or building, there are ways that you can be doing things that are of a nuisance. For a deeper dive, read the top 14 things landlords wish tenants knew.

Be detailed

Another great way to be a good tenant is to be detailed. This can be very beneficial for both you and your landlord long term. For instance, when moving into a house or apartment, your landlord should provide you with a checklist to state the condition of the place. Be thorough on this list because when you move out, any damage that was there prior that you have not noted could be marked on you. Next, when submitting maintenance requests, it is helpful for staff to have a detailed description of an issue to help resolve the situation more quickly.

If you are looking to move and are seeking rentals, DenCO has you covered. Learn more about DenCo property management and sales in Denver and see how we are helping the Denver community with their rental and property investment and management needs. If you have any questions, contact one of our friendly staff members at 303-722-9688.
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Have You Considered Renting Out Your Home? Investment Real Estate Benefits


Are you looking for ways to supplement your income or would like to break into investment real estate? For many, a good introduction into this field is through renting out a home. While it does take some work, it can be a very rewarding experience. Learn more about the benefits of renting out your home, things you need to know and reason to use a property manager to help.

Benefits of Renting Out Your Home

One of the top benefits of renting out a home is the supplemental income it brings without having to treat it like a nine-to-five job. That’s not to say it is not work because there is much work involved in order to be a successful landlord. By signing a lease, you will automatically have a steady revenue stream coming in. When the housing market is down, renting is a great option to ride out the storm until home values are on the rise, helping you maximize your investment.

Things You Need to Know

As you begin the process to rent out your home, you will want to carefully review tenants that apply. To make the most out of your investment, you want to rent out your home to a tenant that will pay the bills on-time and properly take care of the space. When renting out your home, you will want to be sure to remove your personal style and flair from the home to attract renters. You will also need to consider what issues the home may have and fix them. This could range from a faulty water heater to shingles on the roof. Your tenants will contact you when things begin to break, and you as a landlord will be responsible. It is best to get ahead. These are a few of many things to consider. For more tips, read Investopedia’s “Tips for Renting Out Your Home.”

Reasons to Use a Property Manager

There are many legalities when it comes to renting out your home. You need to make sure you have the proper paperwork to rent out the home, come up with a plan to lay out all information for the lease, payment methods for your tenants, contingency plans when things in the house begin to break and what to do in the event you need to evict a tenant. Plus, you will need to know the ins and outs of the industry. One of the best ways to be able to rent out a home for the first time is to work with a property management company. A property manager will handle the day-to-day tasks and help you with the areas that you do not know much about.

If you are interested in renting out your home, DenCO can help. As Denver’s premier property management and sales expert, we can provide assistance and information for Denver property owners looking to rent out a house. You can trust our expertise and service to help you successfully rent out a property. Ready to learn more? Give us a call at 303-722-9688 today.
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What to Know Before Buying Your First Denver Residential Rental Property


March 22, 2017

Buying your first residential rental property in Denver can be nerve racking. Many people that would like to invest in a residential property are daunted by the risk associated with investing in a large asset for the first time. There are many things to consider, so here are some tips to calm your nerves before purchasing your first property and preparing to take the plunge.

Identify your goals and expectations.

There might be a fantasy that comes to mind when you think about owning residential rental property, however it’s important to identify your goals and expectations from this investment. Are you diversifying your income? Are you in it for the tax benefits? How much time and effort are you will to dedicate to your investment? Are you buying a building with the intention of instant financial independence? Having a clear understanding of why you are considering investing in a residential rental property in vital to making sound decisions down the road. Make no mistake, owning a rental property isn’t easy and, if you’re not informed, can spell disaster. Making a clear list of your goals and expectations can give you an excellent starting point. You may want to ask the question, should you invest in residential rental property?

Do your research.

Research, research, research. A very important component of first time buyers. What are tax codes for secondary residential properties in your state? How much are you willing to invest in fixing existing issues in a property? How much can you reasonably expect to make from your first year, five years or 10 years? Investment are all about the returns. Making returns on a resident property is highly contingent on factors such as location, condition of the property, interest rates, and the size of your down payment. Additionally, it's important to look into local tax laws so you don't get slammed with higher property taxes than anticipated and understand the full range of deductions and credits.

Hire a buyer representative.

A buyer representative is someone that can help you navigate the tricky details of purchasing your first residential property. Hiring a buyer representative can walk you through everything that you need to consider before making this huge investment. Investing in a residential rental property is inherently risky. It is best to make you first purchase with the expertise of a buyer representative guiding you to make the best decision for you. Everything from market analysis to tax information can be cleared up with a reputable, well-informed buyer representative. There will inevitably be setbacks and a lot of questions,  but these can be mitigated by staying informed by an expert with your best interest at heart.
Investing in a Denver residential rental property can be a life changing investment for the future! If you are interested in learn more about residential property ownership or are ready to make your first purchase, contact DenCo Property Management and Sales online or call us at 303-722-9688 to review your options on buying property in Denver today!
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