Hi, I'm Marc Cunningham, the owner of Grace Property Management. If you're watching this video, you're probably considering hiring us, hiring Grace Management, for your property management, or your real estate needs.
I would like to tell you just a little about us and give you some information to determine if we are good fit for each other. We've been around since 1978, 40 years now, we just celebrated our 40th year anniversary, and that's a big deal to us. My dad started Grace Management back in 1978. He is still very active with our company today. He's our CEO, also plays the role of our Commercial Property Manager.
I grew up in the business, I've been very involved for as long as I can remember and we are a family-run business, - still owned by my father, my brother, and myself. All three of us work in the business every single day. This is what we do, and we've been doing it for a long, long time.
One of the things that we believe in, and a big deal, is our purpose, our WHY. Not just some goofy mission statement that we hang up on a break room wall and refer to once a year, but really this is what drives us on a daily basis. It is this, 'Improving the lives of real estate investors and residents, through property management solutions.' We believe that we do that each and every day.
For example, when we do something as simple as collect a rent check from a tenant, we process that rent check through our accounting system, and we pay those funds out to a property owner, and that property owner needs those funds to live, we believe that's a big deal. A very big deal. We've just made a small improvement in that owner's life for that month.
We believe that when a tenant calls us, and maybe they don't have hot water, and we can get a quality, appropriately priced vendor out to that property the same day, and they can get that water going for that tenant, that just made a small improvement in that family's life. It made it little bit easier for them to get through their day.
We believe that when we do something like a lease renewal, something as straightforward as that. A tenant's been in a property for let's say a year, and it's time for their lease to expire, and we're able to negotiate a new lease, keep that tenant in place for another year, and that lease lets the child in that family stay in the same school, and not have to go to a new school and make new friends next year, that's a huge deal.
Those are the things we do every day. That's what gets us out of bed. That's what drives us on a daily basis. If you believe in that, then that's something you want to consider as you look to partner with somebody. We certainly want to maximize our income for our owners, but mostly, we want to improve lives, and we believe we do.
We have a team of 17 rock stars. And I use that word purposefully, because I truly believe we have some of the best of the best in all of the property management and real estate industry, not just in Colorado, but in the nation.
I teach a lot nationally, and I would put up any one of my team members against anybody that I've ever met, nationwide, as it relates to any of the property management tasks we do. Whether it's accounting, we've got a Director of Accounting who's just awesome, her name is Jessica. We've got a Director of Leasing, Lindsay, who's amazing. We hired her away from the multi-family industry, and she's just doing awesome with us!
Our team truly is, I believe, the best of the best. That is something else that sets us apart from our competition. We don't bring people in and out, and flow through that. No, these are our folks, they've been with us for years and years and years, and these are the people that make you, as a property owner, successful.
We are also involved in many of the professional associations that are out there. We are licensed Realtors. I teach state required continuing education classes for the real estate industry, for the realtor brand name. Not just here in Colorado, I teach CE approved property management courses in over a dozen states. So we certainly understand the industry that way. We are leaders in the industry and it helps us to get better. We want to stay at the forefront of what's happening in the real estate and property management industry in the greater metro Denver area.
We're very, very involved in NARPM, the National Association of Residential Property Managers. I on their leadership team and I teach at both their state and national events.
We are also involved IREM, the Colorado Association of Realtors, DORA, which is the Department of Regulatory Agencies for the State of Colorado. We participate with them on a several levels and they consider us a reference point, and a resource to help the property management industry govern itself. So we're very, very involved, we know what's going on. We teach fair housing, and this is a big deal to you, potentially, because you want to know that you can trust whoever you're working with.
One of the things we can't fake are Google ratings. Any company you're looking at, you want to go and search their Better Business Bureau rankings and their Google rankings. We have four and a half star average, which is a big deal. Why? Because we're in a tough industry. Because if we do a security deposit return, and we don't return all that tenants money, sometimes they're going to go online and say bad things about us, they may say we kept too much of their money. Now we don't, we are honest with that stuff. But to get the ratings, we've worked very hard for those because we want to see lives improved, and that's what we do.
So research and check us out. Check out anybody you're considering using. Look at their Google ratings and look at their BBB ratings as well.
A couple things we do specifically, should you choose to work with us, is the marketing of your property. We do video marketing tours. So when we market our vacancies and we advertise them, we don't just throw up an ad on Craigslist and see what happens. No, we are very proactive. We've got a marketing platform, a marketing package we use to push our vacancies out to the widest, broadest market possible. And just one aspect of that, is our video marketing tours.
We actually shoot a video tour of a property, where we're doing a tour, a full walkthrough tour, narrated tour, of the property. We then post that video up onto YouTube, up onto our website, and other sites as well. And what that does, is that allows individuals to virtually view a property 24/7. And it's amazing to me when sometimes we'll come in on a Monday morning and we'll see that a property was viewed several times at ridiculous midnight hours over the course of the weekend.
Now obviously we still show those properties, but this allows applicants to get a headstart, because when an applicant wants to view a property, maybe 10:30 PM on a Saturday night when they're sitting down at their computer. So that's one of the unique things that we're able to do for our clients on the marketing side of things.
Now, it doesn't stop there. Our applicant screening is second to none as well. We put our applicants through a deep screening process, a point system, where we're looking at a number of factors. And it's not just rental history, and income, and employment history.Those are all important as well, but we have an applicant scoring criteria where we're going to do a full criminal background check. We're going to do a full sexual predator background check. We're going to do an eviction background check. We're going to do an FBI watch list check.
We go deep, deep, deep on this. Because we know at the end of the day, if we do a good job on this applicant screening, you're probably going to think we're the best company around. If we do a bad job on this and we put a bad tenant in your property and they don't take care of it, and they don't pay their rent on time, it doesn't matter what else we do, you're not going to think very highly of us. So we put a lot of effort, energy, time and money into our applicant screening. And it pays off in this. It pays off in our rent collection.
Every single month, for the last three plus years, every month we have collected over 99% of the rents that are due to us. Now prior to that, it was about 98%. But we actually bounced up to 99%, which we are just so proud of.
The reason we've done this is because of our team members. Our Director of Accounting is amazing, and our process is top of the industry. We have a full-time Director of Accounting; her only job is to collect rent. That's all she does all day long. If someone doesn't pay rent, first things is we are on the phone bugging them, we are doing whatever we need to do to get that rent collected, and it works. This collection rate is unheard of in our industry but we are able to achieve it, because we take so seriously what we're doing, and we just work hard at doing that.
Maintenance is another big issue. The way our maintenance process works, is a tenant can contact our office anytime of day, or night, when they have a maintenance emergency. Now one of the unique things about us, is we actually take the calls. So meaning, we don't outsource them to some operator in another country, who's going to take a maintenance call and then just farm out the repair request. That's unfortunately becoming way too common in our industry. We don't do that.
Repair requests are handled by your personal Property Manager. Why? Because your personal Property Manager knows your personal property. They're the ones that viewed the hot water heater, they're the ones that know where the sink and the countertop, and everything is located. So they can visualize that when the tenant calls in, and says, "My garbage disposal isn't working." They can diagnose it, and say, "Okay, underneath it, there's a little red reset button. Unplug the unit, press that button. Try it again." They diagnose these things. They're very involved in that.
If a tenant calls in 24 hours a day, they're going to be talking to a live person. So when their hot water heater blows up at 2:00 AM, because by the way, studies actually show hot water heaters only go out between the hours of 2:00 AM and 3:00 AM on Friday and Saturday nights. So when that calls comes in at 3:00 AM, they're talking to a live person. And that person's going to tell them how to shut the water off to the hot water heater, number one, to stop the flow of water, stop the damage. And we're going to get somebody there as quickly as possible.
We qualify all of our vendors on three criteria. Number one, quality of work. They've got to do good, good quality work. Number two, price. They've got to give us very competitive pricing, which is typically less than market rates, because we give them a lot of work. So quality of work, market price, and timeliness. They've got to be fast.
Once vendors meet our criteria, they are able to be added to our approved vendor list. We ensure they have their insurance in place, we only want to work with high reputable vendors because we take maintenance seriously.
And that leads us to this - Our average annual tenant renewal percentage. 75% of our tenants, on an annual basis, renew their leases. Now what does this mean for you as a property owner? It means that the biggest expense you potentially incur on an annual basis, turnover, doesn't typically happen with us. Three out of four times it doesn't happen.
It matters so much, because maintenance is the number one reason tenants give, in national surveys every year, as to why they choose not to renew a lease. It doesn't happen with our tenants. Why? Because we take maintenance seriously, we take our tenants seriously. We do a good job of that. And it translates into high lease renewals, which translates into low turnover, which translates into lower expenses for you as a property owner. It's a big, big deal, but you want to track this. If you're going to talk to five Denver property management companies, ask each one of them, what percentage of their tenants renew their leases every year. And they better know that. They better have a good answer for that.
Now at the end of the day, we realize this - we realize that lease agreements are a pretty poor substitute for a good business relationship. So we're happy to send out our management agreement, you can read through that. But that's just a management agreement, right? It's written by the lawyers, it states what we legally do on your behalf. But this is how we do it. We are very relationship based.
We're so relationship based, and we're so confident in earning your business every single day, that we so something very unique to our industry in terms of the commitment we ask of you - now we've always done this and we are one of the only companies I know that do this. Our management agreement terms, should we do business with each other, the agreement we have between us and you is simply a 30 day month-to-month rollover agreement. Now you say, "Well, big deal. What does that mean?" What that means is, we don't believe in locking you in to work with us for long-term, because you don't know us.
I can tell you that we're the greatest company around, and maybe we are, but maybe we're not. Maybe I'm lying. But this doesn't lie. What this means is, if you do business with us at any point in time; you sign up with us tomorrow and the next day you wake up and think, "Uhh, Marc, you're full of it. I don't want to work with you guys anymore." No problem.
You give us a simple 30 day notice, we terminate the agreement. There's no termination fees. There's no penalties, we don't do that. We don't play those games. We want to do business with people who want to do business with us. And we believe in earning your business every single day.
So if we begin working together and things don't work out, not a problem. We don't want you to work with us if you don't want to. Ask whatever company you're talking to, the term of their management agreement, number one. And number two, if you do terminate early, what kind of penalties do you have.
We don't have a long-term agreement. We do want to do business with you for a long time, we've had owners that we've worked with for almost 30 straight years. 28 years is our current longest one, on a 30 day month-to-month agreement. Why? Because every month, every day, we earn their business. And that's what we believe we'll do with you.
And I'm so confident that you'll be satisfied with our service, that this is my personal cell number. Now how can I give out my personal cell number? Because I know you're not going to use it. You're going to be so pleased with our team members, that you're only going to hopefully call me, or text me, or email me to say, they're doing a good job.
Now are we perfect? Of course not. But we do make our mistakes right, when we do mess up. Now if you call me, please don't call me during dinner hours - my wife does not like that! If you do, I many not call you back until the next morning. But text me, email me if you ever have a problem working with us. But I don't believe you will. We would be very pleased, we'd be very honored to be considered your property management resource.
As I said, there's some good companies in town, and there are some that are not so good. Be cautious, whether you work with us or somebody else, be cautious who you work with because having a solid property management company in place, will lead to long-term success for your property. We'd be honored to work with you.