Owner FAQs

Any company that offers any type of property management service must be licensed in Colorado. The state of Colorado has multiple requirements that must be fulfilled before they will grant a real estate license to the company and the company must be licensed to practice real estate or property management in Colorado. Most property management companies meet these requirements, but most individual property managers do not. Be sure to ask your property manager if they are personally licensed to practice property management in Colorado. Below are some of the license requirements.

• 168 hours of education
• Pass a comprehensive exam
• Full personal background check
• Insurance requirements

Just as Whole Foods and Walmart are both considered grocery stores, they offer a different products at different levels of service.

Take a minute to ask yourself what your own expectations are. Property Management in Colorado is legally complex, and you want a professional overseeing what may be your most valuable asset. Some companies provide limited services for discounted pricing; some firms are designed for owners who like to be very involved in the day-to-day management of their homes; and some firms are more hands-off for the owners and have extensive fees.

As you consider partnering with a property management company, but sure to ask questions. You might even request a copy of their management agreement.

(We highly recommend you read the fine print!!!)

Here is a copy of ours.

Most charge a management fee, which is usually a percentage of rent. But there are other fees. For example, while most all companies charge a Leasing Fee, some also charge a Leasing Renewal Fee. The difference is when a new tenant is brought onboard and moved in, or when an existing tenant just extends their current lease. We do not charge when a tenant extends their current lease. Check out our Pricing page for more details of what we offer.

Yes

We offer terms to end our agreement with no termination fees or penalties; because we believe that you should have the flexibility to leave if you want to. Some property management companies have long term contracts with expensive termination fees, or lock you in to use them to sell your house, and more.

Many property management companies have hidden fees for things like paying bills, eviction services, dealing with HOAs, or property inspections. We do not charge extra for those services; they are part of our full service management service. Click here to view what is included in our full service property management offering.

We’ve been in business in Colorado Springs for over 27 years!

Yes. We are very experienced in taking on the management of a property with a current tenant in place. We often take over management in situations where a tenant may be delinquent in rent or the owners are having difficulty managing a current tenant. When this happens, we perform a full lease audit and work with the tenant to ensure that they either conform to the terms of the lease and bring their rent current, or when necessary, vacate the property.

No. We do not manage furnished properties or short term rentals. We specialize in long-term rentals.

Yes we do. See our pricing page for fees.

It’s when we get it leased for you, and then hand the management back over to you for the duration of that lease. We photograph it, market it, advertise it and get a tenant for you, as well as provide our leasing documents.

There are multiple laws governing rental real estate including federal and state fair housing, habitability laws, tenant rights laws, applicant screening, rent-ready standards, and more. We ensure your property and the management experience is fully compliant with ALL rules, regulations, and laws.

10% of monthly rent. Click here for our fair and transparent pricing.

None

Our extensive and proven marketing program attracts high quality applicants from a variety of sources. Here is a list of some of the web sites our listings reach:

Show Me The Rent

Apartment Advisor

ApartmentLove

ClassifiedAds

Dwellsy

EveryApartment

FRBO

Walk Score

Zumper

Apartment List

Apartments.com

CallitHome

CollegeHouse.com

EveryRent

ForLeaseByOwner

KeyLasso

Lovely

PadMapper

RadPad/Priority Real Estate Technology, LLC

Homes.com

HotPads

Hunt

Realtor.com

Rentable

RentalSource.com

Uloop

RealRentals

Rent College Pads

RentFocus

RentHop

rentler

RentLingo

Trintals

Trovit

Trulia

UniversityParent

You must maintain any personal property you leave behind. That means that if you provide it, you must fix it when it breaks. Therefore we recommend our owners only leave well-functioning washers & dryers in the property.

Properties that show well and are priced appropriately should rent in about 30 days or less. We will give you price recommendations as well as activity feedback to ensure we minimize any vacancy time.

In depth tenant screening is the foundation of a good property management experience. Our in-house screening process utilizes technology plus good old fashioned ‘landlords references’ to ensure we place high quality tenants in our properties. We comply with all federal and state laws governing applicant screening.

No. You can trust us to minimize the risk of placing a poor quality tenant. Our applicant screening process works as a foundation. We know exactly what to look for in a high quality tenant-resident. We comply with all fair housing rules and regulations as well as Colorado applicant screening laws.

Colorado state law requires you to accept Service/ESA animals with the proper documentation, which we screen for.

Outside of that, you do NOT have to accept pets in your rental. We still recommend you consider it… over 70% of Colorado tenants come with pets. That means that if you choose NOT to accept pets, you are reducing your prospective inquires by 70%.

Yes. Colorado state law includes ‘source of income’ as a protected status. This means landlords may not discriminate based on where tenants receive their income (including government subsidized programs).

We use an in-house, custom, attorney prepared lease agreement designed to be fair and provide maximum legal protection to all parties. We also include whatever may be needed as laws change, like EPA required lead based paint disclosures and a state required radon disclosure.

No. As your legal agent, we sign all the legal documents on your behalf.

Our owner-clients have a secure on-line portal which gives 24/7 access to financial reporting. We also send monthly owner statements and other reports upon request.

We process your portion of the rent several times from the 3rd to the 15th of the month. You receive funds shortly after we receive rent from the tenant.

We perform multiple inspections throughout the year including at the onset of a new tenant, renewal, mid-lease, and move out (at no cost to you). The purpose is to ensure the property is being well cared for, there are no lease violations, and to look for potential deferred maintenance issues before they become a problem.

We handle the entire rent collection process. Although it is rare - should a tenant not pay rent, we assist with the legal eviction process on your behalf. We also send things to collections as needed.

The quality of a property is equal to the quality of the tenant it will attract. Therefore you want your property to be updated and CLEAN! Of course you may prepare your property for us to take over management, provided it meets the state habitability requirement, and in addition, our rent-ready standards. Click here for a copy. Alternatively, we can take care of getting your property fully rent-ready for you.

We will handle all repair requests (even the middle of the night emergencies). We use pre-screened, high quality vendors who are licensed and insured.

Having a maintenance reserve is optional. It can be helpful in speeding up the process of a unit turn, so we highly recommend a maintenance reserve of $500.

RE/MAX Advantage Realty, Inc. holds all tenant security deposits in our security deposit trust account. This is done to comply with State of Colorado security deposit and trust accounting rules and regulations as determined by the Colorado Real Estate Commission.

When a tenant moves out, we do a property check-out and we complete the security deposit return process. We will withhold any funds from the tenant’s security deposit that are legally due and allowable. Colorado state law is very clear on what things may NOT be charged to a tenant’s security deposit and all security deposit returns are completed to comply with state law. For more information on these rules view this video https://www.youtube.com/watch?v=s0k_PYBIOr0

While a property is vacant, you are welcome to do whatever make-ready work you would like to do on your property. When a tenant is living in the property, we do need to screen who is accessing the property for the protection of its residents. Therefore we will use our pre-screened and pre-approved vendors. If you have a favorite vendor please give us their contact information – we are always looking to add new high quality vendors to our group!

No. Our property management agreement is designed to give our owner-clients maximum flexibility. It is also designed to allow us to serve our owner-clients with a consistent, high-quality management experience.

Yes. We offer sales services exclusively to our owner-client group and we can help you buy another rental, or sell your current property when the time if right.

Call or email us and one of our Executive Property Managers will contact you.

Colorado law regulates many aspects of the applicant screening process including security deposits limits. Our security deposits are structured to provide maximum protection to the owner, while ensuring minimum financial impact to a qualified applicant. We typically charge Rent + $100 as a security deposit.

We are! We are fully in compliance of state laws regarding the disclosure of Radon. We will assist you with any issues that may arise, whether it’s testing or mitigation needs.

Once a lease, or a lease renewal is completed, we share a copy of the lease to you portal, or email it to you at your request.

Tenants have the option to pay via their online portal, mail a check to our office or come in and pay in person.

We typically sign 12-month leases, however they are often extended to the summer months to align with the best time for a property to become vacant.

No we do not.

Do you dread calling companies these days? In this era of overseas call centers and AI we are all frustrated by call menus and bots that never actually have the answer to our unique question. And good luck reaching a person who can actually help.

We get it, and we don’t like it either. We reject the notion that our customer’s questions and needs can be put off. With RE/MAX Advantage, you get real people. Right away. We return phone calls, emails, and text messages and even have a location where you can talk to us face to face. (gasp!)

Come visit us. You can even get a cup of hot coffee, or cold glass of water - what a nice change. 😊