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rent collection process

3 Tips for a Smooth Rent Collection Process

The rent collection process can be stressful, especially if some of your tenants are behind on their payments. Ultimately, making the process easier starts with your screening methods. Do you normally contact and verify a tenant’s references, as well as their employment and financial status?

Rent collection will always be a struggle if you don’t select responsible tenants with a history of paying on time. However, there are additional ways to streamline your approach once as you’ve got that covered. This article will show you how to minimize the number of missed or late payments and improve the overall efficiency of your rent collection process.

3 Tips for a Smooth Rent Collection Process

1.      Send Tenants Reminders

We can all agree that life is busy. It’s easy to forget important deadlines when you have so many other things on your mind. A tenant that misses one rent payment isn’t necessarily irresponsible; more than likely, they simply forgot. Fortunately, landlords can easily prevent this from happening today. We suggest keeping tenants on track by sending regular reminders over text, e-mail or automatically using software. You can also choose to customize the timing of alerts. Some landlords might only send one reminder, but you can send more if you want to be extra cautious. This benefits responsible tenants and ensures those who are evading payments can’t use forgetfulness as an excuse.

2.      Collect Rent with Help from a Property Management Company

You can streamline your rent collection process in a myriad of ways. Today, many tenants have the option to make payments instantly online or through an app. Property management companies, however, can make the process even simpler for landlords. Their rent collection service completely takes this off your plate and ensures you receive profits each month. Additionally, a respected company will assist with tenant placement, lease enforcement, and accounting. With their help, you can grow your business and stay busy with other projects at the same time.

3.      Ensure Late Payments are Penalized

No landlord wants to harangue grown adults repeatedly and prompt them to pay on time. Unfortunately, situations like these can have an adverse effect on your business over time. The majority of tenants are diligent, but there are always some who make rent collection a headache. One surefire defense against a rocky rent collection process is late fees. It isn’t always pleasant to charge someone when they may not have enough for rent to begin with. However, in most cases late payments serve as a deterrent. Tenants who care about their finances and want to keep a roof over their heads will do everything they can to avoid extra fees. If someone is forced to pay the penalty once, they won’t want it to happen again.

Partner with All County Denver South for a Smooth Rent Collection Process Every Time

If you need a property management company in Denver, look no further! All County Denver South Property Management is here to help property owners have confidence in the quality of their tenants and the security of their property through knowledgeable and trustworthy property management services. From managing tenant relationships to lease enforcement, we look forward to working with you to see how your investment can be a long-term, stress-free asset. For a complimentary quote, or to learn more about our rent collection process, call us at (720) 664-4550.

marketing your property

Why Marketing Your Property Correctly is Essential

As a landlord, you know how important it is to market your property. If you don’t market your business, no one will notice it. However, anyone can throw up a few pictures on Zillow and call it a day. How can you know if you’re marketing your property correctly?

Strong marketing campaigns require time, effort and plenty of know-how. Landlords must not only be able to take photos and write detailed listings, but also understand their audience. Sadly, landlords who don’t take marketing seriously attract few responsible tenants.

Whether you work with a property management company or take on the task yourself, you should put some thought into marketing your property well. Here are some ways you’ll benefit and grow your business if you do.

Why Marketing Your Property is Essential

Increase Your Property’s Visibility

Typically, posting your available rental units on one website isn’t enough. Prospective renters look for properties on a variety of platforms. That means you need to market your property by meeting them on a variety of platforms. First, make sure it’s visible on a multitude of sites like Trulia, Hotpads, and Zillow in addition to other locations. You also want to describe your property accurately in your listing. What amenities do you offer? What makes your property stand out? Have you updated all the appliances in your units? Is there a pool or tennis court on the property? Are there attractions nearby like entertainment venues, restaurants and shopping centers? You should mention anything that renters might be looking for. This way, if they search for it online, they can find your property easily. The more tenants you attract, the more you’ll increase profits.

Attract Serious, Qualified Tenants

Marketing your property correctly is all about making connections. Your goal is to match your units with the right tenants. This usually includes responsible people who live (or plan to live) in the area and can afford your rent prices. However, attracting serious tenants also involves knowing their needs. Are there a lot of families in your area, or does it primarily attract business professionals and students? Who are you trying to reach? Busy individuals might benefit from digital marketing strategies such as virtual tours (78% of landlords say that virtual options helps them reach qualified tenants).

Ultimately, the goal is to imagine the person sitting behind a screen looking at your property. Pretend that you’re speaking to them directly in your listings.

Present Your Business Professionally

Marketing your property correctly makes you appear professional. It shows that you know the business well and put effort into making it successful. Furthermore, it illustrates how well you know your tenants.

Being more professional could mean purchasing a high quality camera to take clear, well-lit photos, or hiring an expert property management company. Much of the time, landlords benefit from extra support. Property management teams have already perfected their marketing approach to increase success. Collaborating allows you access to expertise you wouldn’t have access to otherwise. Regardless of which path you choose, being professional requires that you market your property with care.

Partner with All County Denver South to Market Your Property

If you need a property management company in Denver, look no further! All County Denver South Property Management is here to help property owners have confidence in the quality of their tenants and the security of their property through knowledgeable and trustworthy property management services. From managing tenant relationships to lease enforcement, we look forward to working with you to see how your investment can be a long-term, stress-free asset. For a complimentary quote, or to learn more about marketing your property, call us at (720) 664-4550.

if your tenants are happy

Here’s How You Can Tell if Your Tenants are Happy

If your tenants are happy, it’s likely that you know a thing or two about running a great business. While the key to success certainly lies in understanding marketing and number-crunching, building people skills is equally important. The most successful landlords are able to balance the two to keep tenants pleased.

It is a good idea to take a step back and see what your tenants are saying about you and your property. Additionally, a landlord can gain insight into the happiness of his or her tenants by asking direct questions and communicating openly. If possible, you may want to consider sending out a yearly survey to track tenant satisfaction levels.

How Can You Tell if Your Tenants are Happy?

They Pay Their Rent On Time

It’s true that tenants are obligated to pay their rent on time, especially if they don’t want to be evicted. However, this is also a great way to know if your tenants are happy. In most cases, tenants who are content with their living situation are also responsible. As a business owner, it’s your job to keep up with repairs, maintenance, and other tasks that make tenants comfortable. When tenants pay on time, they keep up their end of the bargain. They respect their landlord and want to make sure they follow through.

They Communicate with You Often

If your tenants are happy, they won’t be afraid to get in touch with you. Whether the water pressure in their shower is low or they need to make a noise complaint, renters will gladly turn to you for assistance. Unhappy tenants, on the other hand, may avoid communicating altogether. Maintenance issues may go unreported for longer periods, which could cost you more money over time. Tenants might not alert you to unlawful actions in the building. When tenants do reach out, they may seem nervous or evasive. Have you reacted to a situation poorly in the past? If so, you should find ways to strengthen your relationships with tenants. They should be able to trust you and rely on your guidance.

They Renew Their Lease

Tenants who can’t wait to find better living arrangements are probably not happy with your property. They may try to get out of their lease early or leave at the first available opportunity. To know if your tenants are happy, pay attention to their actions when it comes time to renew their lease. Plenty of renters move on to other properties due to a change in circumstances, but others are disappointed by their experience. If this is the case, it probably won’t be difficult to tell the difference. You may be alerted to this by online reviews and direct feedback.

If most of your tenants are eager to renew and have very few complaints, they are probably content. With that being said, it’s best not to make assumptions. Always check in with your tenants regularly to ensure they’re pleased with the services you provide.

Choose All County Denver South for Expert Property Management Services

If you need a property management company in Denver, look no further! All County Denver South Property Management is here to help property owners have confidence in the quality of their tenants and the security of their property through knowledgeable and trustworthy property management services. From rent collection to lease enforcement, we look forward to working with you to see how your investment can be a long-term, stress-free asset. We’ll also be able to tell if your tenants are happy with their arrangements. For a complimentary quote, or to learn more, call us at (720) 664-4550.

evicting tenants during the holidays

Should You Avoid Evicting Tenants During the Holidays?

Evicting tenants during the holidays is never a pleasant experience. Business is business, but a landlord can feel like a heartless Scrooge in this situation. Holidays are a time for caring for and giving to those around us. Telling an individual or a family that they’ll lose their home isn’t a cheerful message to deliver.

At the same time, you have to consider your financial needs and the responsibility you owe to your other tenants. You may also be struggling financially, or perhaps you have a family to support. If you start making exceptions, other tenants may expect you to be lenient. This could affect your entire business and the stability you provide to current tenants. If your business starts to suffer as a result of your kindness, for example, you may have to raise rent for others. That isn’t necessarily fair to those who are keeping up with their responsibilities and paying rent on time. What should you do? If you’re planning to evict tenants during the holidays, here are some things to consider.

Should You Avoid Evicting Tenants During the Holidays?

First, Know the Law

In most states, landlords can’t evict tenants on Sundays or nationally recognized holidays. We recommend checking with your local government prior to sending out an eviction notice. Weekends and holidays are not allowed as waiting periods in some municipalities in Colorado. Therefore, if you give a ten-day notice that ends on a holiday, it would actually go into effect on the following business day. You should also keep in mind that you cannot evict anybody without a sheriff and a court order. Read more about how to handle evictions in Denver here.

Consider Whether You Can Delay an Eviction

If you’re unsure about evicting a tenant during the holidays, you may want to consider your options. First of all, can you afford to delay the eviction? What shape is your business in right now? Are you able to offer your tenant leniency for a month or two? If the answer is no, it’s likely you’ll have to proceed with the eviction. You may be able to make an exception, however, if you are in good financial standing this holiday season. Ultimately, the decision rests with you, and there’s nothing wrong with letting your principles guide you. If you don’t feel right about evicting tenants during the holidays, follow your instincts. You don’t want to make a decision that will weigh on you later. On the other hand, it’s worth noting that there is never a good time to evict tenants. Will waiting only make you delay the inevitable even longer?

If You Must Evict, Be Compassionate

Let’s say you’ve decided to evict a tenant during the holidays. In addition to following state laws, you should broach the subject with as much humanity as possible. Let your tenants know that the decision was not personal and you wish them the best. If you want to take further steps, consider connecting them to local resources or a community shelter. Evicting a tenant is a business matter, but there’s no need to be cold or unkind. All of us go through hardships, and more compassion is needed during the holiday season.

Partner with All County Denver South for Top-Notch Property Management Services

If you need a property management company in Denver, look no further! All County Denver South Property Management is here to help property owners have confidence in the quality of their tenants and the security of their property through knowledgeable and trustworthy property management services. From managing tenant relationships to lease enforcement, we look forward to working with you to see how your investment can be a long-term, stress-free asset. For a complimentary quote, or to learn more, call us at (720) 664-4550.

Last-minute Halloween Tips

Keep Your Tenants Safe with These Last-Minute Halloween Tips

Witches, mummies, ghouls and vampires will be descending on your property soon, but believe it or not, that shouldn’t be your #1 concern. Halloween also brings out spooky décor, crowds of children, and late-night revelers. Safety hazards are more likely due to increased risks on Halloween, so it’s important to stay vigilant. The goal is to ensure that your tenants have fun and don’t end up in the emergency room at the end of the evening. You also don’t want to be held liable for any accidents or misbehavior on the property. These last-minute Halloween tips should help you cover your bases so that when night falls, your only task will be handing out candy.

Keep Your Tenants Safe with These Last-Minute Halloween Tips

Make Sure Outdoor Areas are Lit Properly

With trick-or-treaters wandering around the property, you’ll want to be sure the area is well-lit. Costumes often include trip hazards in themselves (capes, masks, bulky outfits) but you can’t control what your tenants choose to wear. What you can do is make sure all areas are visible so parents and kids can see where they’re going. Additionally, criminal activity is much more common in dark, shadowy spots. Prevent this by repairing any damaged lights and installing new fixtures before Halloween night.

Remind Tenants about Fire Safety Protocol

This is a crucial last-minute Halloween tip that many landlords forget. Do your lease agreements prohibit candles? Are tenants allowed to place lit jack-o-lanterns outside their units or on balconies? Now is a good time to remind them of your regulations. If possible, suggest safer flameless or battery-operated options. You should also consider checking your smoke alarms to ensure everything is in working order. No landlord wants a fire on their property late on Halloween night; that would be worse than a horror movie jump scare!

Remove Tripping Hazards from Walkways

Hallways and outdoor walkways are filled with all sorts of clutter. Take the time to rake the leaves, remove debris, and clean common areas before Halloween. That way, little ghouls and goblins won’t trip over anything on the way to their next treat!

Stop Crazy Parties Before They Start

One final last-minute Halloween tip: remind tenants that the holiday isn’t an excuse to let rules fall to the wayside. If someone is planning a party, be sure to check in with them about the number of people invited and the duration of the event. Not everyone celebrates Halloween, and this year it falls on a Monday. That means a lot of neighbors will be upset if loud music is blasting through the walls at 2AM.

Partner with All County Denver South for Expert Property Management Services

All County Denver South Property Management is here to give property owners confidence in the quality of their tenants and the security of their property through knowledgeable and trustworthy property management services. From managing tenant relationships to pricing rent to lease enforcement, we look forward to working with you to see how your investment can be a long-term, stress-free asset. For a complimentary quote or further information about our last-minute Halloween tips, call us today at (720) 664-4550.