Property Management

Written by Tony Cline
    Experienced loft and condo property managers since 1978.  Specializing in Lodo, Uptown, Highlands, Ball Park , Golden Triangle and Capitol Hill.     Our professional leasing agents will assist you with maximizing your profits and minimizing your expenses by reviewing rental rates to ensure that you are always getting high rents and reviewing and approving each expense item to ensure you are always getting low contractor rates.   Call Cliffdwellers today at 303-292-LOFT (5638) for more information on our leasing and property management services or to schedule your free, no obligation, rental property market valuation.   

 

I look forward to working with you, Tony Cline
Managing Broker
Cliffdwellers.net Real Estate
    Cliffdwellers.net Real Estate - 1499 Blake Street #1 - J Denver CO 80202 - 303-292-LOFT (5638)
     

No obligation rental property market valuation.

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The first step in renting your downtown loft or condo is determining what the market will bear at the time the property becomes available for rent.    A few things that will determine the market rent for your property are:  
  • Local rental inventory and available properties for rent.
  • Seasonal patterns and the time of year your property becomes available.  Fewer tenants move  during November through January than in the spring and summer months.
  • The condition of the property has a big impact on rental rate and similar floor plans in a building may have rents vary by as much as a few hundred dollars based on the condition of the property, amenities, and upgrades.
  • In a hot market better views add value to the property and increase the amount of rent that can be charged.  In a slow market good views do not always equate to higher rents but will help the property rent faster than a similar property without views at the same rate.
 

Online property marketing.

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More tenants are using the web to find the property that they are going to rent.  We use several methods to attract online prospects to your property.  
  • All of our properties are listed on our company website www.cliffdwellers.net in our rental pages and on a dedicated web page with property photos, custom web address for search engine ranking, google map and a link to request a property showing.  www.cliffdwellers.net ranks very high in the search engines (especially google) for the following terms that most downtown tenants use to search for properties:
  Try googling “ Denver lofts for rent” (#1), “ Denver lofts for lease” (#1), “ Denver lofts” (#2), “Lofts for rent in Denver ” (#3), “Lofts for lease in Denver ” (#1).   Over the last 12 months visitors have reached our company site via search engines using 7,649 different search terms.  This is quite impressive!     (4/22/2009).  
  • As a member of the Denver Independent Brokers, all of our properties are posted on DIBsOnline.com, a property information exchange network for Independent Brokers.  Your property will be listed for all licensed brokers to show their clients on this website.
  Your property will be listed in multiple formats on craigslist.org multiple times throughout the month to keep you posted towards the top of the list.  

Newsprint property marketing

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Cliffdwellers publishes a newspaper that lists all of our available properties.  This Tabloid size newspaper is distributed throughout downtown and mailed to downtown residents as well.  This paper typically has a distribution between 14,000 and 25,000 copies per issue.  

Direct mail property marketing

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Cliffdwellers provides direct mail marketing on our properties ranging from postcard marketing, Cliffdwellers news paper mailing, property brochures or other methods of distribution.  

Property showings

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Cliffdwellers brokers specialize in downtown Denver and are trained and skilled in both sales and leasing.  All of our brokers are enrolled in our leasing program and are available to show your property.    In addition to our company brokers, Cliffdwellers offers a broker coop to real estate brokers outside our company who show our rental properties, maximizing the exposure that your property gets with no additional cost to you.    From our custom and proprietary database built specifically for downtown Denver lofts and condos, we are able to provide each showing broker with both hard copy and emailed showing sheets detailing the highlights of your property, showing instructions, rental price and terms.   After each showing a showing notification including feedback is emailed to you as the property owner, keeping you informed at all times.   

Lease application

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Cliffdwellers uses a professional lease application that includes important information such as rental history, employment, income, and credit history.    Each application is reviewed by our staff to ensure the identity of the applicant and the accuracy of the information provided.  

Credit check

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Credit history is often a good indication of habit and responsibility.  It is important to thoroughly evaluate each potential tenant’s credit history to assess the possible risk of leasing your investment property to them.   Cliffdwellers performs complete credit verification on each tenant as a part of our tenant application process including a complete Experian credit report and FICO score.  

Tenant evaluation

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It can be difficult to determine the quality of an applicant.  Some applicants are very charming but have poor rental history.  Often property owners find it difficult to separate the emotional side of the transaction from the financial side of the transaction on their own properties.  Our process eliminates the initial interaction between the tenant and the owner so that you can make a sound financial decision before agreeing to lease to any tenant.  

Lease contract

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As a property owner you may elect to have tenants complete our professional lease contract written specifically for the downtown Denver loft and condo market, incorporating HOA rules, local laws and proper disclosures.  Our experience in the rental market since 1978 allows us to protect your interests through this specialized lease.   If you prefer, you may also elect to use a lease that you have had prepared for you by legal council.  

Move-in walkthrough

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Each Tenant is provided with a 10 page move-in walkthrough inspection worksheet to complete documenting the condition of the property at the time of possession.  By documenting the condition of the property at the time of move in, a baseline is established for the condition of the property when the tenant becomes responsible for maintaining the property.   For Furnished units: An additional 10 page walkthrough inventory form is used to document the inventory in the unit and the condition of the personal property that is being rented with the unit.  This document provides additional protection for both the owner and the tenant and attaches information about the furnishings to the lease.  

Utility transfer

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When a new tenant moves into your property we automatically transfer electric (and gas where applicable) into the tenants name.  Upon move out, we also transfer the utilities back into your name or into the new tenants name if the unit is being re-leased.   

Deposit and rent collection

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With both our Leasing and Management programs, Cliffdwellers will collect the deposit and first month’s rent and forward both to you with the signed lease as a part of our document package completing the lease transaction with you.    On our management program Cliffdwellers will continue to collect and deliver the monthly rent along with any additional fees to you as they are collected.  

Move-out walkthrough

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After the tenant has vacated your property Cliffdwellers will perform a move-out walkthrough to determine the condition of the property using a 10 page move-out walkthrough form.  This form will then be compared to the tenant’s move-in walkthrough form and if the condition of the property has changed we will provide you with estimates for bringing the property back into rent-ready condition.  Damage beyond normal wear and tear can be charged back to the tenant and withheld from the tenant’s deposit.    For Furnished units: An additional 10 page move-out walkthrough inventory form is used to document the inventory in the unit and the condition of the personal property that is being rented with the unit.  This document provides additional protection for both the owner and the tenant and attaches information about the furnishings to the lease.  If any items are missing or damaged beyond normal wear and tear, the fee for replacing or repairing the item may be withheld from the tenant’s deposit.  

Service and maintenance

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Any service or maintenance requests are handled by our property managers and staff.  Each request is evaluated for proper procedure and when services are required, and authorization is given, maintenance personnel are dispatched and the work is performed quickly.  Services may be performed by Cliffdwellers staff, Cliffdwellers in-house contractors, Subcontractors, and/or performed by companies coordinated by Cliffdwellers.  In some cases the contractor will bill the owner directly for amounts exceeding $250.  

Move out and rent ready repairs

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Cliffdwellers will communicate any maintenance and repair items that may be necessary to ensure that the property is in rent ready condition after each tenant vacates.  Cliffdwellers will coordinate all work performed and ensure that all fees and services are appropriate and complete.  

Annual reports

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Monthly statements are sent to each owner and year end reports are compiled and mailed to each owner for each property under Cliffdwellers management.  Annual report information includes total revenue, total expenses, total fees, tenant information and current lease information including lease rate and expiration.  

Tenant Lease $500 Signing Bonus Credit

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It is our commitment to you as our owner to keep your property leased as long as possible.  To attract tenants to your unit, and as a way to get them to lease your property rather than another, we offer tenants a $500 signing bonus to be credited to a Lease Equity Options fund.    Our Lease Equity Options (LEO) program allows a tenant to build a credit to be used to purchase a home of their own and also creates an incentive to stay in your unit as long as possible to continue to build additional credit.    The benefits to you as a property owner are:
  • We attract a higher quality tenant, one who has the mindset of a property owner, and one who understands how to take care of a property like you would.
  • We require that the tenant completes the full term of the lease and leave the property in good condition in order to use the credit.
  • We require that the tenant give a full 60 days notice to vacate your property and allow the property to be shown during the last 60 days of the lease in order to use the credit.
  • We require that the tenant use a Cliffdwellers Buyer’s Agent to complete the purchase so that we can stay actively involved with the tenant at each stage of the process.
  • We require that the rent be paid on time to earn additional credit.
 

Tenant Lease Equity Options monthly credit

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  Cliffdwellers credits 5% of the rent for each month that your tenant pays the rent by the date it is due towards the tenants Lease Equity Options fund.  The tenant LEO credit will continue to grow each month and each year until they are ready to use it.  This program lets your tenant build Lease Equity Credits to use towards the purchase of a home of their choice.  This credit builds slowly and may only be used if they fulfill all of the obligations of their lease agreement.  The credit was designed to keep tenants in properties for multiple years so that the credit grows to a sizeable amount.  In the event that a tenant elects to use the credit, the credit is paid by Cliffdwellers and there is no additional cost to you as a property owner.


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Last Updated (Saturday, 12 September 2009 21:36)