Aren’t all property management companies basically the same?
No. Some property management companies offer only limited services for discounted pricing; some firms are designed for owners who like to be very involved in the day-to-day management of their homes; and some firm (like Grace Property Management) are full service firms designed to handle ALL aspects of the property management experience.
Is Grace Management the best option for every real estate investor?
No. We are a relationship based property management business and we only work with owner-clients who are realistic in expectations and looking for a high quality, full-service experience.
What local and federal laws do I need to be aware of before I rent out my house?
There are multiple laws governing rental real estate including federal and state fair housing, habitability laws, tenant rights laws, applicant screening, rent-ready standards, and more. We ensure your property and the management experience is fully compliant with ALL rules, regulations, and laws.
Can I get some client references?
Any company can find a few clients to say something nice about them. The BEST way to research a company is to review independent reviews. Click here to view our independent google reviews. Click here to view our A+ rating with the Denver BBB. Click here to search and confirm our status with the Colorado Real Estate Commission.
What is the cost for property management?
Click here to view our fair and transparent pricing (with no hidden fees!)
Do I have to pay a management fee if my property is vacant?
No. We believe we should only be paid if you get paid. So our management fee is a percentage of the actual rent we collect. If we do not collect any rent, or if the property is vacant, you don’t pay us anything.
How do you advertise my rental property?
Our extensive and proven marketing program attracts high quality applicants from a variety of sources. Click here to view details.
Should I leave behind my washer & dryer?
You must maintain any personal property you leave behind. That means that if you provide… you must fix it when it breaks. Therefore we recommend you do NOT leave any personal property (including washers & dryers) behind. For more information on personal property watch this https://www.youtube.com/watch?v=6EhiuxZMOuI
How long will it take to get my property rented?
Properties that show well and are priced appropriately should rent in 30 days or less. We will give you price recommendations as well as weekly activity feedback to ensure we minimize any vacancy time.
How do you screen tenants?
In depth tenant screening is the foundation of a good property management experience. Our in-house screening process utilities technology plus good old fashioned ‘landlords references’ to ensure we place high quality tenants in our properties. Click here for details
Can I be involved in the selection of a tenant?
No. You can trust us to minimize the risk of a poor quality tenant. Our applicant screening process has processed over 13,000 applicants and we know exactly what to look for in a high quality tenants. We comply with all fair housing rules and regulations.
Do I have to accept pets in my rental?
Although you do NOT have to accept pets in your rental, over 70% of all tenants come with pets. That means that if you chose NOT to accept pets, you are reducing your prospective inquires by 70%. We do recommend our owner-clients allow pets, and we provide our owner-clients with a $1,000 damage guarantee (click here for details)
Do I have to accept ‘Section 8’ or subsidized housing in my rental?
Yes. Colorado state law includes ‘source of income’ as a protected status. This means landlords may not discriminate based on where tenants receive their income (including government subsidized programs).
Who provides the lease agreement?
We use an in-house, custom, attorney prepared lease agreement designed to be fair and provide maximum legal protection to all parties. We also include a pet addendum, lead based paint disclosures, mold disclosure, and crime free lease addendum. Click here for details
Do I need to sign the lease for a new tenant?
No. As your legal agent, Grace Management signs all of the legal documents on your behalf.
How do I access my financial reports?
Our owner-clients have a secure on-line portal which gives 24/7 access to financial reporting. Click here for details
How do I get my money each month?
We close out the monthly accounting cycle and do a direct deposit of your funds on the 10th day of each month.
Do you inspect my rental property?
We perform an annual mid-lease property inspection. The purpose of this inspection is to ensure the property is being well cared for, there are no lease violations, and to look for potential deferred maintenance issues before they become a problem.
What if the tenant does not pay rent?
We handle the entire rent collection process. Although it is rare - should a tenant not pay rent, we handle the entire legal eviction process on your behalf.
Do you provide a tenant placement guarantee?
A: Yes, if we place a tenant and they break their lease during the first 12 months – we will release it for free (click here to view our other owner-client guarantees).
Do you provide any type of eviction guarantee?
Yes. Our tenant screening process is so strong that we will personally pay up to $1,000 in eviction legal fees should an eviction occur on your property (click here for details)
How updated does my property need to be in order to rent it?
The quality of a property is equal to the quality of the tenant it will attract. Therefore you want your property to be updated and CLEAN! We can take care of getting your property rent-ready to ensure it meets the state habitability requirement and attracts high quality applicants. Click here for detail on our rent-ready standards.
Who takes care of maintenance?
We will handle all repair requests (even the middle of the night emergencies) and we use pre-screened, high quality vendors. Click here for details.
Is there a maintenance or escrow reserve I need to pay:
Yes. We will collect a $300 escrow reserve from you. This is YOUR money and it will be deposited into our bank trust account as the reserve for YOUR property. We will potentially use these funds to pay for expenses that may arise between the time we send you your rental income, and the time we collect the rent from the tenant the following month. But we will always maintain this $300 reserve as long as we manage your property. When we stop managing your property it will be paid out to you.
Who holds the security deposit:
Grace Management hold all tenant security deposits in our security deposit trust account. This is done to comply with State of Colorado security deposit and trust accounting rules and regulations as determined by the Colorado Real Estate Commission.
When the tenant moves out who does the security deposit return?
When a tenant moves out we will do a property check-out and we will complete the security deposit return process. We will withhold any funds from the tenant’s security deposit that are legally due and allowable. Colorado state law is very clear on what things may NOT be charged to a tenant’s security deposit and all security deposit returns are completed to comply with state law. For more information on these rules view this video https://www.youtube.com/watch?v=s0k_PYBIOr0
Can I do my own property repairs or use my own vendors?
While a property is vacant, you are welcome to do whatever make-ready work you would like to do on your property. When a tenant is living in the property, we do need to screen who is accessing the property for the protection of the tenant-residents. Therefore we will use our pre-screened and pre-approved vendors. If you have a favorite vendor please give us their contact information – we are always looking to add new high quality vendors to our group!
Can I use a home warranty company?
We strongly discourage the use of home warranty companies as they typically provide a poor experience and outcome. Click here to view more information on home warranty companies and what we recommend https://www.youtube.com/watch?v=9__Uox07Yus
Is Grace Management the best option for every real estate investor?
No. We are a relationship based property management business and we want to work with owner-clients who are looking for a full-service experience.
Can I negotiate or change the terms of the management agreement?
No. Our property management agreement is designed to give your owner-clients maximum flexibility (it is a month-to-month term with NO termination fees or penalties). It is also designed to allow us serve our owner-clients with a consistent, high-quality, full-service management experience every time.
Can you help me buy or sell real estate?
Yes. We offer sales services exclusively to our owner-client group and we can help you buy another rental, or sell your current property when the time if right. We have closed over $90,000,000 in real estate transactions.
How do I get started?
Click the link below and one of our Executive Property Managers will contact you.