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>> Request a Management Proposal
Grace Management & Investment
Corp.
To view a video interview with Grace Management click here
With the Real Estate sales
market slowing, many Realtors are now trying their hand at Property Management
- Don't put your property at risk by working with an inexperienced firm or
inexperienced property manager.
Grace Management is a Thornton
based, full service Property Investment & Management firm managing over 250 residential
properties in the North Denver area since 1978.
If you would like us to
provide you with a free rental market analysis of your home including a rental
rate range, please e-mail information on your property including the
address, approximate age, size, features, and pictures if possible.
Frequently Asked Questions
How should I decide which Property Management firm to hire?
When you interview Property Management companies be sure to ask the following
questions:
1. How long has your property management business been in operation?
Grace
Management has been specializing in Property Management & Leasing
since 1978.
(Many new Property Management firms are springing up because home sales are
slow. These same firms will likely stop handling property management when the
sales market strengthens. You want a firm that specializes in Property Management
& Leasing and will be around in the long term)
2. How long has the property manager you are talking with been doing Property
Management?
Our three Brokers duration at Grace Management are 31 years, 12 years, and
2 years.
(Some Property Management firms have high turnover, so you never know whom
you will be working with)
3. How many properties do you manage and can I get references from your
Owners?
In order to provide the highest level of service to each
of our Owners, we limit the number of properties we will manage. We have
printed Owner testimonials below.
(Make sure the firm manages enough properties to know what they are doing,
but not so many that you become just a number)
4. Where is your office located and what is the geographic area in which
you manage?
Our office is located in Thornton and we are experts when it comes to leasing
and managing homes in the North Denver area.
(If a firm is located in a different geographic area then your property,
or if they try and manage homes all throughout Denver, they may not specialize
in your neighborhood)
5. Imagine your 'worst case scenario' as an owner,
and ask the Property Manager how they would handle that situation.
After 30 years in this business we have handled every situation imaginable.
We know what to do and just as importantly, what not to do, when problems arise.
(A good property manager should be prepared to handle just about any scenario
you can imagine, and give you a good explanation of how they will respond)
How much will my property rent for?
We
will conduct a market analysis of your property and provide you with an appropriate
rental range. Rental rates are based upon current rental
market conditions and the geographic location, condition and features of the
property. We will also give you recommendations on how your property
will show well and rent quickly. Most properties take no more then 60 days
to rent.
How will Grace Management advertise my property
for rent?
We place professional signage on the property and do extensive Internet advertising. We will place your home with pictures on over 80 different Internet sites, which reach over 10 million unique on-line visitors per month. We handle all Internet and phone inquiries in our office and schedule showings directly with potential tenants. The total cost of this advertising package is $100 per month, and is billed to the Owner of the property.
How does Grace Management qualify tenants?
This can be the most
important aspect of leasing. When an individual is interested in renting one
of our properties, they first must complete a rental application. We process
this rental application by reviewing the applicants income, employment, credit,
criminal history, eviction history, and sexual predator history report. This
information is then analyzed through a point system model, which helps to insure
we select high quality tenants.
Who provides the Lease Agreement?
After we have approved an
applicant we will schedule a lease signing. We
use custom in-house lease agreements that are structured to provide maximum
protection to both you and your property. We collect a security deposit
equal to no less then one full months rent which is held in escrow for the
duration of the lease term. We also provide legal addendums to the lease
pertaining to current State and Federal legal issues such as lead paint, mold,
and crime free housing.
How does the Owner get their money?
Your funds will be electronically
deposited into a bank account of your choice. This
electronic deposit takes place by the 20th of each month. We will also e-mail
you an itemized operating statement each month showing all income received
along with receipts for any expenses.
Who takes care of maintenance requests?
The tenant will contact
us directly for any repair problems that arise. After
we have spoken to the tenant to confirm the nature of the repair issue and
whose responsibility it will be, we will send out the appropriate vendor to
make the necessary repairs. If a tenant has caused the damage, we will back-bill
the charge to the tenant. If the repair is due to no fault of the tenant,
the cost of the repair will be billed to the Owner of the property. Only
venders who meet our high standards of quality, timeliness and competitive
pricing are used. We also have 24-hour service in the case of maintenance emergencies.
What happens if a tenant does not pay rent?
In the event that
a tenant does not pay rent, the legal eviction process must be followed closely
and carefully. We will handle all aspects of the
eviction process including preparing and serving the appropriate legal notices,
appearing in court on behalf of the Owner, and if necessary, scheduling and
performing a physical eviction with the county sheriff. In this case,
the cost of the legal fees (approximately $220) is billed to the Owner of the
property.
Is Grace Management a licensed management company?
Grace Management is a licensed Real Estate firm active in management and
leasing since 1978 and members of the following professional associations:
* National Association of Residential Property Managers (NARPM)
* Certified Property Manager (CPM) designation by our President
* Denver Metro Commercial Association of Realtors (DMCAR)
* Colorado Association of Realtors (CAR)
* National Association
of Realtors (NAR)
What does Grace Management charge for Management?
The monthly management we charge for single family homes is 10% of the
total income. This amount is deducted directly from the rent we collect
each month from the tenant.
What does Grace Management charge for Leasing?
At the time we
have completed the leasing process on a vacant home and sign a new lease with
a new tenant, the Owner will be charged a leasing fee of 40% of one full months
rent.
What happens when the tenant moves out?
When a tenant vacates
a property we will complete a move out inspection and handle the security deposit
disposition. We will them prepare the unit for a new tenant to move in as quickly
as possible.
Does Grace Management offer a ‘Lease with Option To Buy Program’?
Yes, We can advertise your home for rent on a standard lease, or on our ‘Lease-Option Program’. Through this service we can place a tenant / buyer into your property on a lease with an option to buy the property.
Does Grace Management offer a tenant placement service where the owner can still manage the home?
Yes, We do offer a tenant placement service where we will advertise & show the home, qualify a tenant through our screening process, sign a lease, collect the security deposit and then turn the management of the home over to the owner at that time. The cost of this service is equal to one full months rent.
Can Grace Management help me sell my home or
buy my next property?
Yes, we have a full time sales associate who assists Real Estate investors
in locating, purchasing and selling Real Estate. Our sales agent, Greg, has
overseen $25,000,000 of residential real estate transactions in 6 states.
Why should an Owner use Grace Management?
We will handle every
aspect of the leasing and management process precisely, promptly, and professionally
in order to make your property grow in value and your mind rest at ease. Our
property owners have the following to say about Grace Management:
• I wish Grace
Management could manage my properties throughout Colorado. Finally, a
property manager who works equally for the homeowner and tenant! L. Bonham
• From my very first
encounter with you, my decision to lease out my dream home was made easier with
your professionalism. You honestly make me feel like you care about my
out of pocket expenses. - Carolyn B.
• You have taken care
of everything from HOA requests to a broken furnace. The price I pay each
month is worth every penny. We recently hired you for a second property
of ours and have again, received great service. It has given us great peace
of mind knowing our properties are in good hands. - Jennifer H.
• You all do so much,
with competence, tact, and a smile. I appreciate you! - Heather
T.
• We interviewed several
management companies and Grace Management was by far the most experienced and covered
all the areas that we required to market and maintain our rental property. We
always receive prompt responses to our inquiries. The whole team brings a nice
combination of personal and professional skills to make our life simple. - Pat
P.
• I like not having
to worry about anything -- everything is taken care of. I really appreciate
the way you keep the unit rented and thoroughly checks out potential renters.
- Randy S.
• I employed Grace
Management to manage and find a tenant for me, as I just didn't have the time
and resources. Grace filled that vacancy by the second week! Also, Grace
is a member in good standing with NARPM (National Assoc. of Residential Property
Managers) and that was important to me. - Doug Z.
• What best describes
my feeling having Grace Management oversee my property is 'Peace of Mind' when
you are several thousands of miles away. - Jim T.
• I live out of state
and the last thing I want to worry about are unsavory tenants and a trashed
house. I've trusted Grace Management with my property for 8 years and
have no complaints. They've made me feel completely taken care of. -
Jennifer B.
What is the next step in having Grace Management
manage & lease my home?
To begin management and leasing services, the Owner of the property
simply needs to sign a Management Agreement. At the time the agreement is signed
we will collect an operating escrow reserve from the Owner in the amount of
$300. This money belongs to the Owner and will remain in the operating
account as a minimum reserve for the duration of the Management Agreement.
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