stay organized

Stay Organized: 3 Tips for Landlords

Learning how to stay organized as a landlord is critical for keeping your tenants happy and your property in good shape. While organization sounds simple enough, a surprising number of landlords fail to manage important information. If you lose important tenant documents or don’t keep up with federal, state, and local laws, for instance, your business will suffer. In order to stay on track, here are a few basic steps you should take.

Stay Organized: 3 Tips for Landlords

1.     Partner with a Property Management Company

A respected property management company can help you boost your revenue, keep up with maintenance and prevent damaging errors. They’ll also assist you with enforcing your leases, collecting rent, and tracking your income. Many landlords avoid taking this step because they think it isn’t worth the investment. However, staying organized is essential to a healthy, growing business. If you have trouble managing tasks on your own, there’s nothing wrong with reaching out for help from a skilled group of experts.

2.     Hold Onto and File All Documents

As a landlord, several documents pass through your hands every day. These might include rental applications, invoices, tenant request forms, and financial documents. Whether you scan these digitally or use a standard filing system, it’s highly important to store them properly. You never know when you’ll need to refer back to a document, especially if it’s related to your tenant’s lease. Additionally, it’s crucial to make sure all agreements are made in writing if you want to stay organized. For instance, say a tenant claims you told them they could have a pet in their apartment. You don’t remember allowing this. If this was never put in writing, you’ll have to deal with the consequences.

3.     Monitor Your Finances

If you don’t manage your finances correctly, how can you know if you’re making enough of a profit? One of the worst mistakes landlords can make is spending more than they make, but not realizing it. You also don’t want to trigger a tax audit due to lazy organizational practices. To stay organized, consider utilizing accounting software. There are plenty of options on the market, several of which are affordable and easy to use. Tools like these can help you create a budget, make future plans and track your income. Furthermore, you can gain financial insights that you wouldn’t have access to otherwise. Accounting software or financial experts are a major asset to any landlord. Discover what works for you and invest in your business so you can keep running it for years to come.

How All County Denver South Can Help

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 staying organized, call us at (720) 664-4550.

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Why References Matter During the Tenant Screening Process

When you are going through the tenant screening process, you need to know whether a potential tenant is a good fit for your property. References can help you determine whether a tenant is reliable, and if they are not, you can find out why. A surprising number of prospective tenants may have a criminal history that could threaten the safety and well-being of the other residents. If you want to avoid conflicts later on, it’s important to do your due diligence during the tenant screening process. Credit checks and background checks are helpful, but referrals allow you to speak with someone who has worked with the tenant before. This will help you weed out irresponsible tenants that only look good on paper.

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What to Know About the New Property Management Bill Passed in Denver

Recently, the Denver City Council passed a new property management bill that affects all landlords in the area. The most significant change is that rental property owners are now required to have a license. While this was already a requirement for short-term rental owners, the new bill includes all landlords.

You may be wondering what more you should know and how the new property management bill will affect your business moving forward. Get the details from the pros at All County Denver South!

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Reasons to Hire a Property Management Company in Denver

Denver is one of the hottest cities for property owners due to its rapidly growing population. Residents have increased by over 25% over the past ten years, and that number is still rising. It’s a great time to reap the benefits of cultivating a business in this vibrant, up-and-coming city. However, property ownership comes with a lot of responsibility. Most landlords are overwhelmed by their duties, especially if they’re new to the job. Additionally, competition in a major city can be fierce. If you want to succeed in the business, extra assistance might be a good idea.

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