Looking for Property Management Companies in Colorado Springs, CO?

Colorado Springs Property Management

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Provided you came here looking for property management companies in Colorado Springs, we can help because owning a rental property can be a rewarding experience, as it often generates a steady income. However, a rental property only creates income when a landlord has quality tenants who pay their rent on time and do not destroy their property.

Once a landlord meets a problem tenant, owning and managing a rental property becomes difficult and time-consuming. Using a specialized property management company has many benefits for landlords, especially those who own numerous properties. These benefits save landlords a momentous amount of time and money and make owning a rental property more satisfying.

What we do as your Colorado Springs Property Manager:

  • Property Marketing
  • Tenant Screening
  • Rent Collection
  • Property Maintenance
  • Financial Reporting

Get started today by contacting us for a Free Management Quote.

Why Hire Us as Your Colorado Springs Property Manager

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Tenant Screening

Tenant Screening

One of the biggest benefits of using a property management firm is that the firm will handle all tenant screening. Some landlords do not run credit or background checks because they do not have the time or know where to get these reports.

Renting to people without respect for their criminal background and financial history is one guaranteed way to end up with problematic tenants.

Property management experts take over the entire screening process so that landlords get tenants that pay on time and take extra care of their units than those who were not screened.

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Legal Issues and Property Codes

Legal Issues & Property Codes

Property management firms handle all the legal facets of dealing with tenants and maintaining a property. Landlord-tenant laws differ by state and municipality, so it is important to know how to handle problem tenants and other rental matters properly.

Property managers take care of evictions, property inspections, occupancy negotiations, lease dissolutions, and the gathering of rent from tenants.

We also make sure that each property is in compliant with all property codes and safety laws. These services can help landlords avoid expensive lawsuits and legal problems.

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Rent Collection

Rent Collection

Landlords need to collect rent on time every month to maintain that property taxes and other expenses are paid on time. On-time rent collection is also the only way for a landlord to create reliable income. Unfortunately, some landlords do not control the rent collection procedure as well as they should. They listen to pleas from tenants and allow people to pay their rent late. In some cases, tenants use fraudulent checks to pay their rent and the landlord is stuck with bank fees and other problems. Property managers govern this entire process so that landlords do not have to deal with tenants who do not want to pay their rent as arranged.

A property manager will deal with late-paying tenants until payment is received. If a tenant does not pay as agreed, a property manager can begin the legal eviction process.

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Lease Enforcement

Lease Enforcement

Lease enforcements are another unfriendly part of being a landlord. The terms of a lease guard both the landlord and the tenant, but the landlord is the one who agonizes if the tenant breaks his or her end of the deal.

Property managers will provide upkeep of lease enforcement and deal with tenants who break the terms of their leases. If a tenant is not allowed to have pets and someone reports that a pet is on the premises, the property manager will contact the tenant and demand that the pet be removed within a specific timeframe. If the tenant places holes in the wall or makes other property modifications that were not conferred with the landlord, the property manager can make sure the tenant incur the cost for repairs.

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Property Management Can Be Stressful - What
Else Haven't You Thought Of?

Properly Filing Tax Returns

As a landlord, making a good return on your investment comes down to collecting rent consistently and knowing how to reduce the tax burden of owning a rental property. A property management company will aid landlords in correctly recording transactions and maintaining required receipts for deductions to claim, and help them get prepared each tax season.

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This can support landlords by helping you save time and money, and it can also save you from having to pay fines and penalties for filing your taxes incorrectly.

Ensuring Low Vacancy

Using a property management company can help curtail vacancy phases, which cost a landlord money. Without a property management firm, it may take a landlord several months to prepare a property for rent, determine how much rent to charge, and promote the property to potential tenants.

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Professional property managers can decrease the amount of time it takes to perform these tasks. 

Once a tenant rents a property, a property management company can also improve tenant retention. Once a landlord acquires a good tenant, he or she wants to keep the tenant in the property as long as conceivable. 

Property managers can help make this occur by making repairs quickly and helping good tenants whenever they have a situation in the building that is negatively affecting their work atmosphere.   This usually results in a good tenant remaining in the property for a long time.

Time is Money

Many of the benefits of using a property management company are related directly to saving money. However, using a property management firm can also provide landlords several personal paybacks. The less a landlord has to contract with problem tenants, the less stress you will have.

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Using a property management company also diminishes the amount of time a landlord must spend making repairs, pursuing tenants for late rent payments, and imposing the terms of a lease.

The most significant personal benefit of using a property management company is that it permits landlords greater freedom.

Instead of being committed to one property, a landlord can purchase multiple properties in different locations and let the property management company look out for each one.

Put your trust in one of the top property management companies in Colorado Springs, Falcon, and Peyton, Colorado… PMI Total Solutions!

Consult with Your Property Management Company in Colorado Springs: (720) 466-3120 or get your FREE RENTAL ANALYSIS today!