5 Questions to Ask Before Hiring a Denver Property Manager
Hey, everybody! My name is Matthew Whitaker and I’m with gkhouses in Denver. Today I am going to cover the Five Questions to Ask Before Hiring a Denver Property Manager.
The first question I would ask is, “How many houses or rentals do you manage?”
Asking this will generally give you an idea of how big their company is, how many people their company has in it, and whether they are a boutique-style manager or a larger manager. A boutique-style manager often has a hundred to three hundred properties.
gkhouses actually manages over 600 houses in the Denver metro area, so we are one of the larger-style property managers.
The next question I would ask is, “How will you determine my rental amount?”
So, there are three ways that we determine your rental amount here at gkhouses. We have what we call a Rent Range Report which actually has an algorithm that gives you an idea based on things that have rented in the area and house size.
We plug that information in and it gives us an idea of what your house could rent for.
That’s not the only thing we use, though. The second thing we use is we like to go on Zillow and see what other houses are renting for in the area.
One of the interesting things about renting your house is it’s very much a snapshot in time. This means that it is not like a sale, which uses a lot of historical data. So, looking at the competition to see what features they have or how big their property is in comparison to yours is a great way to get an estimate.
We have been doing this for years and we know manage thousands of properties. Because of this, we know what price people are looking for depending on what features the property has.
The third question is, “Do you conduct property inspections?”
We spend a lot of time at gkhouses trying to make sure that your house is taken care of.
One of the items that we offer under the Platinum Program is quarterly property inspections.
We go in, take pictures, and make sure there is no deferred maintenance on your house. We then send you a report that basically outlines anything we found, or you will get a report saying that everything looks good.
The fourth question I would ask is, “Do you have any guarantees?”
At gkhouses, we have four guarantees that I want to go over with you.
The first one, which I think is the most important, is simply a happiness guarantee.
Are you happy with us? If you’re not happy with us, we don’t hold you to some long-term contract.
All you have to do is submit a 30-day notice and you are out of the contract.
It’s very much like a software service that says, “Hey, just give us notice and you’re out.” That is the way we operate here because we want to keep earning your business every day.
The second thing is the maintenance guarantee.
If we fix a property for you and it breaks again within a year, we will fix it again without any charge to you.
The third thing is what we call a tenant guarantee.
This means that if that tenant does not pay you for 6 months, we are literally going to place the next tenant for free.
The last one is what we call our 21-day lease guarantee.
We will, under certain circumstances, give you 2 months of free management if we don’t rent your house in 21 days.
The fifth question is, “How does maintenance work and are there any markups?”
So, our maintenance limit is $500, meaning anything under $500, we just take care of it and bill your account for it.
There is a markup on third-party maintenance. And then the last thing, which I think is the most exciting about working with us, is we have an in-house maintenance company.
So, 80% to 90% of our work orders are handled in-house.
How does that benefit you? We found that the whole goal of this thing is to keep tenants long-term.
The last thing you wanna do is pay for tenants moving out, moving in, lost rent, etc. We have also found that the number one reason they move out is that maintenance is not getting done.
Well, we control the maintenance company because we own the maintenance company.
Those are five questions to ask before hiring a Denver property manager.
I’m Matthew Whitaker with gkhouses. I hope you’ll reach out to us here in Denver if you have any other questions.
Thank you so much.