Compared to the U.S. average, the cost of living in Littleton, CO, is 3% more expensive. This is mainly due to its higher housing costs. However, transportation and health costs and crime rates are lower here.
It's no wonder Littleton is one of the best cities to live in the country, according to Livability.com. As such, it continues to attract renters, making it a haven for landlords.
So, if you just became a Littleton landlord, good for you! Now, you just need to work with a rental property management company.
But how exactly can their services benefit you? Read on, as we'll tell you how.
Ensure Rental Property Compliance
Littleton, CO, mandates short-term and multi-family rental property owners to obtain licenses. It also requires landlords to appoint an agent living in the Denver metro area. The City would contact the agents if they can't reach the landlord in case of emergencies.
State housing laws mandate residential leases to have a "Warranty of Habitability," too. Landlords must ensure their rental properties are safe and fit for human habitation.
A rental property management company can serve as your appointed agent. They'll also ensure your units' safety and habitability through regular property maintenance. So, you can rest assured your properties remain legally compliant.
Simplified Tenant Management
Renting out properties can be lucrative if tenants are responsible, law-abiding, and pay rent on time.
Comprehensive tenant checks allow you to find such renters. They give you insights into prospective tenant's employment, eviction, credit, and criminal histories.
However, they can be time-consuming and confusing, especially if you're a first-time landlord still learning the ropes. This may result in your property being vacant (and not generating income) for too long.
Fortunately, a rental property management company specializes in tenant screening and placement. They'll find the best tenants and offer guarantees like on-time rent collection and payment.
Maintain Property Value
Rental property values can drop significantly and quickly due to tenant misuse and a lack of maintenance.
Misuse is more likely to occur if tenants don't undergo checks. That's another reason to leave tenant screening to experts.
A lack of maintenance can also be due to tenants who fail to meet their duties of keeping the rental safe and livable. For example, they may not do their part in keeping it clean and sanitary. This can lead to pests infesting and damaging the property.
A rental property management company can help lower those risks by filling your properties with responsible tenants. They'll also conduct timely and regular property inspections, upkeep, and repairs.
All that can help you maintain the value of your properties.
Work With a Rental Property Management Company
A rental property management company can ensure your properties in Littleton, CO, are compliant. They'll also look for and rent out only to highly qualified tenants. Moreover, they'll keep your rentals in top condition through regular inspections and upkeep.
At PMI Little Town, we can do all that and more for your properties. We use state-of-the-art technology to deliver high-quality, full-service real estate asset management services.
Contact us today for a comprehensive consultation! We look forward to hearing from you and giving you a free rental analysis.
