Mountain-n-Plains has managed properties throughout Northern Colorado since 1979. We are honored to play a role in the lives of renters in Fort Collins who choose to work with our property management company. Mountain-n-Plains serves as a residential property management company for townhomes, condos, single-family homes, and apartments. We also manage commercial properties including medical, retail, office, industrial facilities, and other commercial associations.
For as long as Mountain-n-Plains has been in the rental industry, we’ve noticed a common misunderstanding over a property manager and a landlord. In a previous post, we explained the differences between both of the positions to help renters understand who is responsible for certain aspects of the property. In our article today, we’ll discuss what landlords and renters can expect from our property management company. Keep reading to learn more!
Property Management in Fort Collins
If you’re new to the wonderful world of renting, it’s important to understand what your property manager is responsible for. Property managers are a third-party entity that landlords or property owners will hire to manage everyday operations at a rental property. The responsibilities vary based on the property and the terms of the management contract.
Below we have prepared a list of the most common tasks property managers are responsible for.
Allow your property manager to assist in determining the cost of rent. Your property managers are experts in the rental industry and they are up to date on current rates throughout the market. Additionally, a property management company can increase the rent by a fixed percentage based on the current market.
When you work with a property management company, they are responsible for collecting the rent from the tenants. Property managers have the authority to enforce late fees as well.
Another core responsibility for property managers is to manage tenants. From finding and screening tenants to handling move-outs, property managers are responsible for all areas.
Property managers are responsible for the property’s advertisement that will fill vacancies quick and with the right tenants. When a potential renter submits their application, the property manager will perform an extensive background check and credit history.
Once a tenant has been selected and approved, your property management company will handle the lease terms and ensure that the tenants have provided all of the required documentation and paid their security deposit.
Inevitably, something unexpected happens at a rental property that requires attention. Property managers are responsible for maintenance requests, noise complaints, and dealing with evictions.
It is up to the property manager to maintain the property and keep it safe and habitable for tenants and the community. The property management company will complete repairs or hire a professional to do so, it is not the landlord or the tenant’s responsibility.Unless the damage is caused by the tenant.
- Understanding State Laws
A professional and reliable property management company will have an in-depth knowledge of state and national laws regarding rental properties. They are required to understand the laws for screening tenants, handle security deposits, terminate leases, evict a tenant, and comply with safety standards.
- Supervising Responsibilities
Some rental properties have additional employees to assist in managing the property. These employees can be a concierge, security personnel, maintenance worker, etc. It is up to the property manager to ensure the other employees are doing their job. Often times, property managers are hired to supervise vacant properties to make sure there hasn’t been any vandalism and perform routine maintenance.
- Manages The Budget
Property owners rely on the management company to operate within the set budget for the property. While emergency situations do occur, the property manager will need to use their best judgement when it comes to ordering repairs or any other service that is needed within the property owner’s means.
If you’re renting for the first time or this is the first time through a property management company in Fort Collins, it’s important to know who is responsible for certain aspects of the property. Mountain-n-Plains is Fort Collins’ most trusted property management company that manages rental properties throughout Northern Colorado.
Are you a property owner seeking leasing opportunities? Do you need a property management company for residential properties or commercial? Visit Mountain-n-Plains online to learn more about our services and contact our team!