One of the most important aspects of your property management relationship will be in the contract that is written. While it is true that the federal government as well as local state, county and city jurisdictions can impose certain requirements on a contract, only those that are proficient in the industry can help you write a contract that covers your concerns. No one will care about a property as much as an owner. If you have certain concerns regarding your property, make sure that you consult with your property management in Windsor CO company to ensure that you concerns are covered.
The contract in a property management situation is the one document that you have and will refer back to over the life of an agreement. This goes for both the property manager and the tenant. For instance, if there is a concern about how long your property manager is representing you or what their job entails, it should be listed in the agreement. Unfortunately, under a contract, there are no implied agreements. That means that if you assume the manager will collect your rent and get it to you in a reasonable time period, you should have that written in the contract. The same is true of the tenancy. If you believe that the tenant should clean up the yard, that must be expressly written in.
In the current economic and real estate market people are becoming owners of investment property instead of selling at a loss. Since a home is one of the single most expensive personal items a person can purchase there may be a lot of emotional ties to renting out their biggest investment. While a basic contract will cover the basics, make sure to add specifics in your contract to cover your concerns. Some owners choose to hire their own landscape company and include those fees in a monthly rental contract.
In a rental agreement don’t forget everyday housekeeping items. When someone lives in a home they are responsible for the day to day operations and that may need to be written out expressly in a contract. Changing air filters on a routine basis, yard maintenance, even inspection of crawl spaces for mold or the walls for worn out paint should be covered if it is a concern for the owner.
