Seeking Furnished Rental Property Manager
Investor · Palm Beach · Member since 2018 · 35 posts · 7 votes
Seeking Furnished Rental Property Manager
Most Popular Reply
Real Estate Agent · Denver, CO · Member since 2017 · 53 posts · 33 votes
3yHey @Joseph Lalia
I noticed you mentioned the 80221 zip code. Is it in Adams County? A Denver mailing address in Adams County is Unincorporated Adams County, which does in fact allow for non-owner-occupied STRs.
If it is in fact city and county of Denver, then yes unfortunately no matter which person or entity holds title, you would need to prove you're living there to get approval for a nightly rental.
As far as companies or individuals offering management services, I can pass along a list.
7 Replies
- 3yDrew SygitBusiness MemberProperty Manager · Royal Oak, MI · Member since 2012 · 12k+ posts · 9k+ votes
Even if someone give you a referral, what meets their expectations, may not meet yours.
In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.
It's often a case of not doing enough research, as they don't know what they don't know!
Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator.
So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.
EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean? What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.? You’d be shocked by how little actual screening many PMC’s do!
This also leads owners to ASSUME simpler is better when it comes to management contracts.
The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it!
We have a 14-page management contract that we've added our real experiences to over the years, with the intent of protecting both us AND the landlord. Beyond the Monthly Management, Placement & Maintenance fees, all other fees in our contract are IF EVENT -> THEN fees.
We don’t know any PMCs to recommend in the area mentioned, but since selecting the wrong PMC is usually more harmful than selecting a bad tenant, you might want to read our series about “How to Screen a PMC Better than a Tenant”:
We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.
EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!
P.S. If you just hire the cheapest or first PMC you speak with and it turns into a bad experience, please don’t assume ALL PMC’s are bad and start trashing PMC’s in general. Take ownership of your mistake and learn to do the proper due diligence recommended above😊
Please send us any feedback via email, as we do not use the DM feature here
Logical Property Management4.9458 Reviews - Investor · Palm Beach · Member since 2018 · 35 posts · 7 votes3y
Quote from @Drew Sygit:
Even if someone give you a referral, what meets their expectations, may not meet yours.
In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.
It's often a case of not doing enough research, as they don't know what they don't know!
Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator.
So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.
EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean? What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.? You’d be shocked by how little actual screening many PMC’s do!
This also leads owners to ASSUME simpler is better when it comes to management contracts.
The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it!
We have a 14-page management contract that we've added our real experiences to over the years, with the intent of protecting both us AND the landlord. Beyond the Monthly Management, Placement & Maintenance fees, all other fees in our contract are IF EVENT -> THEN fees.
We don’t know any PMCs to recommend in the area mentioned, but since selecting the wrong PMC is usually more harmful than selecting a bad tenant, you might want to read our series about “How to Screen a PMC Better than a Tenant”:
We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.
EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!
P.S. If you just hire the cheapest or first PMC you speak with and it turns into a bad experience, please don’t assume ALL PMC’s are bad and start trashing PMC’s in general. Take ownership of your mistake and learn to do the proper due diligence recommended above😊
Please send us any feedback via email, as we do not use the DM feature here
No offense, but I've seen you post this before, and while I can appreciate marketing under the veil of advice, my question was pretty specific and your copy & paste response doesn't address it at all.
- Member since 2022 · 8 posts · 7 votes3y
Quote from @Joseph Lalia:
Hello all,
As the title states, I am seeking property management services for my furnished 2br/ 1ba condo in Denver. This is not my primary, so I have been told I cannot acquire a STR license, but wonder if there is a work around if title is held in my LLC.
Otherwise, just looking for help with 30 day+ stays. Thanks!
Hey Joseph, my wife and I are property managers at our Airbnb just outside Phoenix and we are house hacking our primary house basement here in Aurora. I have a couple questions for you. Would the person who would be your PM take care of everything related to your condo, or are there things you are hoping to manage yourself? What % are you looking to pay for someone to do this? What part of Denver is this in?
- Investor · Palm Beach · Member since 2018 · 35 posts · 7 votes3y
Quote from @Scott Crawford:
Quote from @Joseph Lalia:
Hello all,
As the title states, I am seeking property management services for my furnished 2br/ 1ba condo in Denver. This is not my primary, so I have been told I cannot acquire a STR license, but wonder if there is a work around if title is held in my LLC.
Otherwise, just looking for help with 30 day+ stays. Thanks!
Hey Joseph, my wife and I are property managers at our Airbnb just outside Phoenix and we are house hacking our primary house basement here in Aurora. I have a couple questions for you. Would the person who would be your PM take care of everything related to your condo, or are there things you are hoping to manage yourself? What % are you looking to pay for someone to do this? What part of Denver is this in?
At this stage I am simply seeking a verifiable company that offers the basic services I've already described. The zip is 80221.
- Real Estate Agent · Denver, CO · Member since 2017 · 53 posts · 33 votes3y
Hey @Joseph Lalia
I noticed you mentioned the 80221 zip code. Is it in Adams County? A Denver mailing address in Adams County is Unincorporated Adams County, which does in fact allow for non-owner-occupied STRs.
If it is in fact city and county of Denver, then yes unfortunately no matter which person or entity holds title, you would need to prove you're living there to get approval for a nightly rental.
As far as companies or individuals offering management services, I can pass along a list. - Investor · Palm Beach · Member since 2018 · 35 posts · 7 votes3y
Quote from @Kevin Smith:
Hey @Joseph Lalia
I noticed you mentioned the 80221 zip code. Is it in Adams County? A Denver mailing address in Adams County is Unincorporated Adams County, which does in fact allow for non-owner-occupied STRs.
If it is in fact city and county of Denver, then yes unfortunately no matter which person or entity holds title, you would need to prove you're living there to get approval for a nightly rental.
As far as companies or individuals offering management services, I can pass along a list.It's Denver. Please do pass them along, thanks.
Thus far I have only found a few companies that offer services for furnished rentals and it's been a struggle simply getting them on the phone.
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