Since 1979 Metro Denver Management, Inc. (formerly, Preferred Realty Services and Management, Inc.) has specialized in management of residential units for small and large private investors. These units have included single family homes, townhomes, condos, duplexes, triplexes and small apartment buildings (we no longer offer management services of properties larger than 4 units). Although agents of Metro Denver Management, Inc. are licensed real estate brokers the firm does not offer assistance in sales and purchases of real property.
Of course Metro Denver Management, Inc. does not manage every unit that comes along. We are looking for a good “marriage”, which includes, a client who is understanding of the market (we do not make money when a unit sits vacant) and is willing to do those things (spend money) to make their unit the most desirable over their competition.
Metro Denver Management, Inc. provides the following services for it’s clients:
Rehab/Makeover: Metro Denver Management, Inc. has a full compliment of vendors and independent contractors to rehab a unit. This includes cleaning of the unit, painting, carpet cleaning, replacement of appliance, new floor coverings, major mechanical and all other forms of carpentry and maintenance. Because these vendors and contractors are not employees of Metro Denver Management, Inc. we do not “mark-up” any invoices that pas through our office (unless there is a separate written agreement). You can be assured that when Metro Denver Management, Inc. has rehabbed your unit you will know that you have the cleanest and best rentable unit to compete with the competition.
Advertising/Showings: Metro Denver Management, Inc. has many options available to advertise your unit. These include the placement of a sign (yard or window), advertising with the Rocky Mountain News/Denver Post, other local papers such as Westword and of course the many different internet options available. [Please note that most advertising costs are the burden of the client so please check the Property Management Contract to determine what costs you would be your responsibility. Because Metro Denver Management, Inc. has variable office hours we are available to show your vacancy during a wider array of days and hours. Please consult our hours of operation calendar (of course subject to change without notice).
Applications: Metro Denver Management, Inc. has always prided itself on processing applications “in-house”. Prospective tenant’s applications are processed to verify that they have the ability to pay their rent on time, not destroy the unit and not irritate their neighbors. This process includes verifying their employment history, rental history, credit reports and criminal/civil background history. It is harder for a tenant to rent a unit from us than it is for them to buy the same unit. We, unlike lenders and others, are concerned with a tenant’s character which is one of the most important factors of being a good tenant.
Prior to submitting an application with our firm we have some prerequisite guidelines in order to qualify to rent a unit:
Income: The rent should not exceed 1/4 of the gross monthly household income if the unit in question is a single family home.
The rent should not exceed 1/3 of the gross monthly household income if the unit in question is a town-home, condo, duplex, triplex, fourplex, row-house or apartment.
All adults (eighteen years of age and over) who will reside at the property, must fill out a separate application and submit a $25 dollar non-refundable fee per application.
Applications will be rejected for the following reasons: Felony conviction for the manufacture, distribution or possession of methamphetamines, pending bankruptcy; currently in a foreclosure proceeding; outstanding balances owed to any landlord or management company and past eviction(s) for any reason. If you have a conviction, other than as described above, management reserves the right to deny your application. However, any such denial shall be based on a combination of factors including age, severity, re-occurrence, rehabilitation, and a balance of other normal screening factors.
Pet policy: If pets are permitted there may be a weight limit or pet limit and some dog breeds are not allowed.
The aforementioned is meant only as a guide-line as there could be other reasons for a disqualification of an application. All applications that are not accepted will be notified in writing as to the reason for non-acceptance.
You have certain rights under the Fair Debt Credit Protection Act and you may view those rights at http://www.ftc.gov/credit/
Rental Agreements: Metro Denver Management, Inc. has a rental agreement that is constantly evolving because of court decisions and/or changes of law (Colorado Revised Statutes). Although our lease is always up for interpretation by the courts we believe that ours is one of the best in the metro Denver area and Colorado.
Statements/Accounting: Metro Denver Management, Inc. currently uses Promas software for management accounting. This software allows us to significantly customize/tailor each clients needs and desires (to a degree). Statements and disbursements are typically done on the 11th or 12th of each month. In addition, Metro Denver Management, Inc, also sends out a Year-To-Date statement to each client (along with a respective 1099-MISC) at the end of each year. The monthly statements provide a detailed itemization of all transactions for a unit along with basic current tenant information.
The aforementioned information is a brief over-view of our services and does not necessarily encompass all points. For more information please do not hesitate to contact us at our office and we will do our best to assist you with any questions or concerns that you may have for property management services.