Choosing a Property Manager
( Choosing a property manager and Why Cliffdwellers May be The Perfect Fit to Manage Your Downtown Denver Property. )
Choosing a property manager – Experience
When choosing a property manager to manage your asset and tenant relations, experience counts. You want a company that is familiar with the intricacies of managing properties in an urban environment and has relationships with vendors who are familiar with the unique challenges of maintaining properties in downtown high-rise loft and condo buildings.
Cliffdwellers has specialized in assisting Denver loft and condo property owners since 1978 and has signed thousands of leases specifically customized to protect our landlords and their properties. Our customized and proprietary lease includes language that addresses HOA rules and regulations, storage units, parking spaces, reserved elevators, move-in fees and move-out fees charged by the building, and many other specific clauses relating to downtown properties located in Denver County.
Choosing a property manager – Location
As the old saying goes: the 3 most important factors in real estate are “Location, Location, Location.” The location of your property is important but the location of your property manager is critical! You want a property manager that can quickly and easily access your property in an emergency, to perform a routine inspection, or simply to show the property for rent. If a property management company has to get into their car, fight highway traffic, and circle the block to find a place to park, they may not be as motivated to prioritize your property as a property manager who can walk to the property.
Cliffdwellers is located in the heart of downtown and has been located in our current location at 15th and Blake Street since 2004. Our office is within walking distance to most buildings in downtown and the Highlands and we are a 5 minute scooter ride to most others.
Choosing a property manager – Expertise
The property manager you choose should make your life easier and give you confidence that your property is well cared for, rent is collected in a timely fashion, and all applicable state, local, and federal laws are adhered to in addition to tenant compliance with all HOA requirements.
You want to hire a company that has years of experience and complete systems to manage your property without having to contact you over every little detail. Cliffdwellers has a complete set of written policies and procedures for leasing, and property management and these policies and procedures guide our company and the actions of our staff for consistent performance in meeting the expectations of our clients.
Cliffdwellers specializes in working with investor clients. Whether purchasing, leasing, managing, selling or utilizing a 1031 exchange you want to hire a company that has full time employees competent in property management and investor relations, not simply a real estate broker who does leasing or property management on the side. The last thing you need is to hire a company that you have to train or that is learning at your expense.
Choosing a property manager – Market Focus
When choosing a property manager it is wise to select a company that is familiar with the type of property you own. If you own a warehouse, you should select a manager that specializes in renting warehouses. Likewise, if you own a loft or condo you should hire a company that focuses in that market. Some property management companies will work the entire Denver Metro area spreading their staff, vendor resources, and knowledge of market activity over the entire front range. As a landlord you benefit most when your property manager focuses in your market area and does not try to be all things to all people.
Choosing a property manager – Investor Mindset
Our property managers and leasing agents understand the investor mindset. In fact, we are all investment property owners ourselves. We know what it takes to maximize rents without over improving properties with projects that do not pay a return. We also prioritize maintenance and improvement projects are critical to protecting the property value within your long and short term investment strategies.
Choosing a property manager – Industry Involvement and NARPM ®
Chapter 21 of the Colorado Real Estate Manual (produced by the Colorado Real Estate Commission and the Colorado Department of Regulatory Agencies) specifically mentions NARPM® as the organization that exists to assist property managers in the management of residential properties including single family homes, condos, and townhomes. The organization has thousands of members nationwide and the Denver Chapter is the 6th oldest chapter in nation.
Before selecting a property management or leasing company find out if the company is involved in the organization that is recommended by the Colorado Real Estate Commission, how long they have been a member, and what is their level of involvement.
Here are a few questions to ask:
- Are you a member of the national organization AND a local chapter?
- Have you ever attended any of the national conferences and training classes?
- Do you have a Certified designation from NARPM as a professional property manager?
- Have you ever served the organization at either a committee, board, or executive board level?
- Do you teach classes on property management, or present at any of the state, local or national conferences?
- Are you on any of the property management committees or task forces with the Colorado Real Estate Commission?
- Why or why not?
(Read Cliffdwellers answers to these 7 questions regarding Industry Involvement and NARPM ®).
View our 67 Questions to ask when Interviewing a property manager or contact us by phone at 303-292-LOFT (5638) for more information regarding our leasing and property management services.