National vacancy rates in the second quarter of 2023 were 6.3% for rental housing (higher than this time last year). If you're not filling vacancies, you're not generating as much income as you could from your properties. Consider hiring a property management company in Denver, CO for help.
On the fence about working with property managers? Read on to discover the top three reasons you should rely on their services.
Make an informed choice after reading this guide today!
1. Happy Tenants
Over 44.1 million households (36% of American households) rent their homes. Whether you have five tenants or hundreds, it's important to keep them happy. Happy tenants will continue renting long-term, allowing you to generate more income.
Unfortunately, constantly communicating with and appeasing tenants can become time-consuming. Your property management company can help.
For example, your Denver property managers can:
- Resolve conflicts with tenants
- Communicate with tenants
- Ensure documents are filled out
- Handle routine maintenance
- Handle emergency maintenance
- Manage routine inspections
These tasks can otherwise steal time from your routine. That's time you could dedicate to expanding your real estate portfolio instead.
Your Denver property managers will ensure these tasks are completed in a timely manner.
Completing these tasks quickly and efficiently will keep tenants from getting frustrated. If you've struggled with maintaining tenant satisfaction in the past, ask for help.
Choose property managers who have experience keeping tenants happy. They'll represent you and your best interests moving forward.
2. Fill Vacancies
Remember, 44.1 million families rent. Take advantage of the Denver real estate market by finding and attracting new tenants. If you're struggling with your marketing strategy or vacancies, rely on a property management company.
A company that has experience with the Denver real estate market will know the best ways to attract tenants. For example, they can take professional photos of your properties or create virtual tours. Improving your marketing strategy will help you quickly fill vacancies.
The sooner you fill vacancies, the sooner you can improve your return on investment!
3. Less Stress
Daily property management responsibilities can become time-consuming and stressful, especially if you're alone. In addition to marketing and tenant requests, you also have to operate legally. For example, you'll need to remain informed about local eviction procedures and fair housing regulations.
You'll also have to consider Colorado housing/building codes.
An experienced property management company will remain informed of local laws and regulations. They'll determine if any updates will affect your properties. If so, they will make the necessary changes to ensure you avoid penalties.
With help, you can avoid the stress associated with legal compliance and other responsibilities.
Hire a Denver Property Management Company
You don't have to manage your Denver investment property alone. Instead, hire a property management company this year. Leverage your property manager's experience and expertise.
They'll ensure everything runs smoothly moving forward.
Want to start benefiting from property management services? We're here to help.
Contact us today to learn how our services can help you!
