Cherry Creek Property Management
What you need to know about Cherry Creek property management and real estate investing
Are you considering partnering with Grace Property Management for the management of your Cherry Creek rental property? If so, we have 10 numbers that will give you a glimpse into how we operate, and help you decide if we're a good fit for each other.
Percentage of rent due that we collect each month. This is due to a very tight applicant screening process, a time-tested internal collection process, and the fact that we have a full-time Director of Accounting (Jessica M) whose only job is to ensure our residents pay on-time each month.
The number of U.S. presidents that have served in office since we opened Grace Property Management for business in 1978. In 1978 Jimmy Carter was our President and the Bee Gees had the #1 song (Staying Alive!). When you hand us the keys to the front door of your property, you can feel confident knowing we’re going to be here today, tomorrow, and the next day after that!
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The ranking we received as the 2018 ‘Think Realty’ National Property Manager of the Year. Although we only operate in Colorado we are recognized nationwide as a leader in the property management industry.
The percentage of our tenants that renew their leases every year. This is important because turnover leads to vacancy – which is the biggest expense you could potentially have as a landlord. More lease renewals leads to less turnover, which results in fewer expenses for you!
The approximate number of rental applications we’ve processed. After looking at this number of credit and background reports, we know what to look for when it comes to processing Cherry Creek rental applications.
The number of states in which we have taught property management continuing educational classes for state Realtor associations. We teach thousands of Realtors and property managers each year - helping to educate them on how to do property management better.
The amount of money we guarantee you for lost rent, pet damage or legal eviction expenses. If we approve and place a tenant in your Cherry Creek rental property and we have to evict that tenant for non-payment of rent, we will pay up to $1,000 of lost rent or legal fees. We will also pay up to $1,000 in pet damage if we approve a pet who does damage. Click here for more details.
Although we hope to work together for many years to come, we don’t believe in long-term “forced” contracts. Rather we believe we should earn your business every single day. Should you ever find our services lacking, you can terminate our agreement with a simple 30-day notice; and with no termination fees or penalties.
That’s not our Cherry Creek property management office phone number - it’s my (Marc Cunningham) personal cell number. If you ever have a problem as a client, you can call me directly. Just please don't call during dinner, my wife doesn't like that!
The amount of money we have donated to our ‘Grace-Gives’ fund over the last 12 months. We use this money to help responsible residents who encounter unexpected financial difficulties. For every lease we sign, we donate money into our ‘Grace-Gives’ account. We’ve been able to help many residents in time of need! Click here for details.
Although just a neighborhood within the City of Denver, Cherry Creek has essentially become a city in and of itself. This neighborhood is arguably the premier destination in Colorado for shopping and entertainment, as well as high-end housing options. Cherry Creek North and Cherry Creek Shopping Center both offer extravagant retail shops, upscale dining experiences, and countless spas & salons to provide the ultimate relaxation of body and mind.
Housing and entertainment experiences rank highly on a prospective tenant’s wish-list; however, quality of education may be the key differentiator. The education system within Cherry Creek is one of the best in Denver. The district boasts an 89% graduation rate, faculty with 10-years of experience on average, and a very diverse student population.
We believe you should consider Cherry Creek as an investment opportunity, particularly if you are seeking a low-risk real estate investment area. Real estate will continue to appreciate in value given the high-demand for housing in this Denver sub-market. That being said, you can’t ‘have your cake and eat it, too!’. Cash flow on your investment property within this submarket will be nominal at best.
- Affluent Community
- Shopping & entertainment district
- Exceptionally ranked school system
- Great future price appreciation
- CAP rate (investment rate of return) is lower than some other areas
- Housing affordability
- Lots of new multi-family class-A construction may be sign of overbuilding