A property management firm is a company that specializes in handling the tasks related to the management of a property, being usually, but not exclusively, in charge of properties offered for rent. Here is how they do their job:
- Initial assessment of the property – the process of taking over property management tasks starts with an inspection of the property to assess its features and a detailed discussion with the property owner to figure out the range of the services required. After the verbal agreement with the client about the services to be provided and the price, a contract with the details of the agreement is drafted and signed by the parties;
- The most common roles and responsibilities of property management – the tasks handled by a respected Denver residential property management team include anything from property maintenance and repairs to finding and screening tenants, from determining and collecting the rent to handling all sorts of paperwork from drafting lease contracts to preparing records and reports. Property owners can choose to outsource all the property management tasks to specialized partners or they can choose to hire a property manager for just some of the tasks, handling the rest of the tasks on their own.