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Preparing for Peak Leasing with Your Denver Investment Property
May 16, 2018
The spring is one of the peak times of year that keeps Denver investment property owners busy! As a property owner and/or landlord, it is important you are prepared for this rush and make sure you get interest in your rental(s). Whether you own a double or a multi-unit apartment complex, any vacant units are lost dollars. Use these top three methods to ensure you are ready.
Maintenance Unit Reviews
In the weeks leading up to your busy season, it is beneficial to inspect the units. This will help you find any damage in them that needs to be fixed. This can include appliances that aren’t working properly, fire alarms that do not work, cracks, issues with flooring, plumbing problems and much more. When repaired, this will create a better living environment for your current tenants and be in pristine condition if potential renters view the space.
When conducting maintenance unit reviews, it is important to give the person living in the space advanced notice. An easy way to do this is by sending an email a week in advance, specifying when you will be inspecting units. If you only have one or two spaces you own, you can always contact those renters directly and schedule a time.
Proper Listing Information
Most landlords will send their tenants renewal notices two to three months in advance of their lease expiring. This gives them ample time to find a new place and you time to make repairs and show the space to prospective renters.
It is incredibly important that your listing information is as up to date as possible when putting them on apartment or renter search websites. This can include accurate bathroom/bedroom information, accommodations or highlights such as the type of floors, appliances or counters, amenities and more. The more details you can include, the more helpful it will be to a search.
In addition, be sure to have updated pictures that are high quality. Make sure they are not blurry and do not include clutter. They need to be neat and clean to give prospective renters an idea of what the unit looks like. You also will benefit from taking photos outside (yard, outdoor amenities, etc.). Not a photographer? Don’t worry! There is no need to spend thousands on a photographer; you can accomplish the task with your very own smartphone. Use these tips and tricks on how to take awesome pictures with your phone
Upgrading Business Software
It is crucial to have a great business software to help you manage your property. A great system will include ways for you to communicate with renters in one secure place, manage payments, handle accounting and tax information, control maintenance requests, house renter’s insurance information, securely store documents, and much more. The more organized you can be, you will be able to run your business more efficiently.
Are you looking for ways to help you manage your investment properties—especially to kick off peak leasing season? DenCo Property Management and Sales can assist! From working with renters and maintenance requests to handling the finances, we offer a variety of services to help you with every step of managing your property. Contact us today at 303-722-9688 to see how we can help.