WHY HIRE US?
A competent property manager can add significant value to your investment, which is why many seasoned real estate investors will tell you that a good management company is worth their weight in gold.
At Alliance Property Management, we do not do sales; we are experts in property management! For some sales offices, property management is a “side-gig” that doesn’t get the required attention and lacks the appropriate competence.
Here are a few ways that a competent property manager like us, earns their keep:
If you've read our Google reviews, (and we strongly encourage you to do this)...the common theme you'll see praised by both owners and tenant is communication. Not only do we reply to everyone within 1 business day...we actually pick up the phone!
Communication between owners and property managers is critical because it ensures that all parties are on the same page regarding expectations, property maintenance, and financial matters. At Alliance Property Management we have systems in place that ensure you're fully aware of what's happening with your property, every step of the way . If there's a maintenance issues, you're alerted. If a tenant has not paid rent (very rare), you're alerted! If you reach out to us, we reply promptly! The last thing we want is for you to be surprised by anything.
At Alliance Property Management we understand that good communication fosters a positive working relationship and builds trust between the owner and property manager. Communication is one of the many ways Alliance Property Management will provide you with peace of mind property management.
"I've owned and rented residential properties for over 10 years. Alliance is my fourth, and best, property management company that I've worked with, and I can't imagine looking for anyone else. They are reasonably priced, they find renters quickly, they make repairs fast, and they address the occasional tenant issues with fairness and professionalism. I live out of town, so I need someone reliable. Anything that comes up, I know that they will take care of me and my property. I've had difficult property management companies. Missy and Maggie answered or returned my calls after hours. And they do so because they put Customer first. I highly recommend them!!!
Tony V. - 2022
Higher Quality Tenants
Think of tenant screening as the moat and draw bridge around your castle. It is certainly possible to get a bad tenant out of your home once they are in, but it’s a real hassle and you are so much better off never accepting them in the first place. Our thorough screening process results in reliable tenants that:
- Pay on time (our rolling 9 month delinquency rate is .5%!)
- Rent longer
- Put less wear and tear on the unit
- Generally cause less problems
At Alliance PM, we receive hundreds of applications each year and know how to quickly dig for the real facts about candidates and analyze that information for warning signs. By allowing an experienced management company to handle the screening, you will also be shielding yourself from rental scams directed at owners, and discrimination lawsuits resulting from an inconsistent screening process. This kind of experience takes time, and insomuch as it means avoiding bad tenants, avoiding scams and avoiding lawsuits -it is arguably one of the most significant benefits Alliance Property Management will provide.
Fewer costly and time-consuming legal problems
Veteran landlords know it only takes one troublesome tenant to cause significant legal and financial headaches. We are armed with the knowledge of the latest landlord-tenant laws and will ensure that you are not leaving yourself vulnerable to a potential lawsuit. Each state and municipality have their own laws, these plus federal law cover several areas including but not limited to:
- Tenant screening
- Safety and property conditions of the property
- Lease addendums
- Terminating leases
- Handling security deposits
- Rent collection
Avoiding a single lawsuit can more than pay for the property management fees and spare you time and anguish. We are Alliance Property Management remain constantly educated in upcoming legislative changes, attend regular legal classes offered by reputable law firm and NARPM - and are proud Bronze-Level members of the Colorado Landlord Legislative Coalition.
Shorter vacancy cycles
Our team at Alliance PM will help you perform three critical tasks that affect how long it takes to fill your vacancies:
- Improve and prepare the property for rent – we will suggest and oversee cosmetic improvements that maximize revenue.
- Determine the best rent rate - Too high and you are stuck waiting, to low and you’re losing money every month the tenant is in the unit. Determining the optimal price requires knowledge of the local market, data on recently leased comparables, and access to rental rate tools.
- Effectively market your property - An experienced property management company has written hundreds of ads and understands what to say and where advertise and is equipped with robust technology in order to get a larger pool of candidates in a shorter period of time. Alliance PM offers 24/7 scheduling software and offers over 100 available showing appointments per week.
Better tenant retention
Our Google reviews speak to this - tenants love us! 🌟 We are one of the top-rated PM companies in town with a 4.5 Google 🌟 rating!
While it's easy to see the effects of lost rent, there are other equally serious problems with a high tenant turnover rate. The turnover process involves a thorough cleaning, changing the locks, painting the walls and possibly new carpet or small repairs, not to mention all the effort associated with marketing, showing , screening and settling in a new tenant. This is a time-consuming and expensive process that can often be averted by keeping tenants happy and well cared for. At Alliance Property Management we have time-tested tenant retention policy that ensures happy tenants with lengthy stays in your properties. These kinds of programs require a consistent, systematic approach, which is where a good property management company will shine.
Tighter rent collection process
The way you handle rent collection and late payments can be the difference between success and failure as a landlord. Collecting rent on time every month is the only way to maintain consistent cash-flow, and your tenants need to understand this is not negotiable. By hiring a property manager, you put a buffer between yourself and the tenant, and allow them to be the bad guy who has to listen to excuses, chase down rent, and when necessary, evict the person living in your property.
If you let them, your tenants will walk all over you. They have to be trained to follow every part of the lease or deal with the consequences. Property managers have an advantage because tenants realize that they, unlike the owner, are only doing their job and are obligated to enforce the lease terms. Many property managers will tell you that it is considerably easier to manage other people's units rather than their own for this reason.
Regarding evictions, there are strict laws concerning the eviction process, and doing it wrong, or trying to evict a "professional tenant" can be a MAJOR fiasco. At Alliance PM, we know the law and have a good process for obtaining the best possible outcome given the circumstances. Never having to handle another eviction can be a compelling reason to consider hiring a property management company. Our tested tenant approval criteria result in almost zero evictions!
Lower maintenance and repair costs
Good maintenance and repairs keep tenants happy and preserve the value of your investment which make them a very important part of land-lording. We have a network of licensed, bonded and insured contractors who have already been vetted for good pricing and quality work.
This can translate into significant savings compared to going through the "yellow pages" and hiring a handyman yourself. We know the contractors and understand maintenance issues and are capable of intelligently supervising the work.
Increase the value of the investment
Preventative maintenance is achieved through putting systems in place that catch and deal with maintenance and repair issues early on, before they grow into larger more costly problems. This requires a written maintenance check program, detailed maintenance documentation and regular maintenance visits.
We will also offer you suggestions and feedback on upgrades and modifications, both how they will affect the rent you can charge, as well as their impact on maintenance and insurance.
Personal benefits for owners
- Less stress - Avoid having to deal with middle of the night emergencies, chasing down rent, evicting people from your property, tenants who wreck your property, rental scams, lousy vendors, piles of paperwork.
- More freedom - Live and invest wherever you want without the constraint of needing to be near your properties. Additionally, you can live and travel without the requirement of always being available in the event that your tenants have a need you have to tend to. Once you have found a good management company, it doesn’t matter if you live in the same state. Some landlords live in other countries and simply collect their check every month without ever seeing the property.
- Free up more of your time - Time is money, and for many investors, their time can be more profitably spent in areas other than servicing their properties. When you focus on asset management you’re working ON your business, when you manage your own properties you work IN it. Additionally, you have more time to spend with family or friends doing things you enjoy.
A final thought
Of course, this is an ideal scenario. These results can only be expected if a management company is competent, trustworthy and a good fit for your property. A poor choice of a management company can produce many headaches of its own. We'd love to add you to our portfolio of happy clients!
Schedule a call today!