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Professional Service Benefits

Leasing

Management

No obligation rental property market valuation

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New property documentation

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Online property marketing

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Newsprint property marketing

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Direct mail property marketing

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Property showings

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Lease application

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Credit check

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Tenant evaluation

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Lease contract

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Move-in walkthrough

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Utility transfer

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Deposit and rent collection

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Move-out walkthrough

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Service and maintenance

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Move out and rent ready repairs

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Annual reports

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Eviction Protection Program

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Rent Loss Protection Program

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No obligation rental property market valuation.

Leasing

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Management

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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

Leasing

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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.

We utilize a 3^rd party company to set and record the showing appointments so that we have documentation of each entry into your property by any showing broker.

After each showing a showing notification including feedback is emailed to you as the property owner, keeping you informed at all times.

Lease application

Leasing

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Management

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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

Leasing

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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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Management

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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

Leasing

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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

Leasing

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Each Tenant is provided with a 17 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

Leasing

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With both our Leasing and Management programs, Cliffdwellers will collect the deposit and first month’s rent on your behalf 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 proceeds as they are collected.

Move-out walkthrough

Leasing

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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 17 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. The move out walkthrough form is supported by property photos – typically 50 to 70 walkthrough photos are taken.

Service and maintenance

Leasing

Management

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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

Leasing

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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

Leasing

Management

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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.

Eviction Protection Program

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As we all know, evictions can happen to any landlord no matter how well a tenant is screened. Circumstances change in people’s lives and they are not able to pay the rent. This is especially true when people lose their job, get a divorce or have a serious injury. This type of event occurs even more often in difficult financial times like we are experiencing now. And when the tenant isn’t able to pay the rent they also find it difficult to move. When this happens the landlord has to go through the costly procedure of evicting the tenant at the time that they are most likely not receiving rent for the property.

There are thousands of evictions filed in the Denver Metro Area and to evict a tenant it can cost between $500 and $1,000 and can take as long as 45 to 60 days, in some cases the judge will even allow a longer time to evict. There are many attorneys that specialize in doing evictions and that is all that they do. No one is immune. We hope you never have to go through the experience but if you wind up drawing the short straw, we want to be able to assist you through this process with as little inconvenience as possible.

You will find in the body of the new management agreement the details of the program but here it is in a nutshell - If it becomes necessary to evict a tenant, Cliffdwellers will cover all posting fees, attorney fees, court costs, Sherriff’s writ, the cost of the Broker, or Broker’s representative to appear in court if requested through legal proceedings by the tenant and the cost for the property manager to meet the sheriff at the property to perform the physical eviction. You do not need to opt in to this program; it is now a standard service in our property management agreement.

Rent Loss Protection Program

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At a time when a landlord is experiencing an eviction they are also most likely experiencing a loss of rent. In combination with the Eviction Protection Program, Cliffdwellers includes as a service in our property management agreement a Standard 30 day Rent Loss Protection program. What this means is that if we perform an eviction on your tenant and the tenant has not paid rent during the term of the eviction, Cliffdwellers will pay to your account up to 30 days worth of rent so that there is no stoppage of rent payment received by you as the landlord.

For additional Rent Loss Protection we also offer an additional 30 days (for a Total of 60 days) for those wanting the additional assurance of rent being received during this difficult time. What this means is that if we perform an eviction on your tenant and the tenant has not paid rent during the term of the eviction, Cliffdwellers will pay to your account up to 60 days worth of rent so that there is no stoppage of rent payment received by you as the landlord.

The details of these two Rent Loss Protection Programs are in the body of our management agreement.

Fee structure

Leasing

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Management

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Initial property setup fee

one time fee for the life of the property

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Leasing fee as a percentage of 1 month rent

based on a 12 month lease – prorated for other lease term

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Management fee

as a percentage of the monthly rent as it is collected

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Eviction Protection

*Optional: monthly fee applies

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Rent Loss Protection Program

as a percentage of the monthly rent as it is collected

*Optional: monthly fee applies

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call*