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Download Documents:

'17 Questions To Ask a Potential Property Manager'-pdf
'6 Things You Must Know Before You Rent-Out Your Home'-pdf
'Frequently Asked Questions'-pdf
'Money-Back Guarantee'-pdf

Click the 'ABOUT US' tab above, to watch short video clips on Property Management 101 or call Marc now to discuss your property management needs at 303-255-1990 x11.

Frequently Asked Questions

How should I decide which Property Management firm to hire?

When you interview Property Management companies be sure to ask the following questions:

1. How long has your property management business been in operation?

Grace Management has been specializing in Property Management & Leasing since 1978.

(Many new Property Management firms are springing up because home sales are slow.  These same firms will likely stop handling property management when the sales market strengthens. You want a firm that specializes in Property Management & Leasing and will be around in the long term)

2. How long has the property manager you are talking with been doing Property Management?

Our three Brokers have combined for over 50 years of experience.

(Some Property Management firms have high turnover, so you never know with whom you will be working)

3. How many properties do you manage and can I get references from your Owners?

Grace Management manages over 300 residential properties as wells as commercial properties. We have printed Owner testimonials below. 

(Make sure the firm manages enough properties to know what they are doing, but not so many that you become just a number)

4. Where is your office located and what is the geographic area in which you manage?

Our office is located in Thornton and we are experts when it comes to leasing and managing homes in the North Denver area.

(If a firm is located in a different geographic area than your property, or if they try and manage homes all throughout Denver, they may not specialize in your neighborhood)

5. Imagine your ‘worst case scenario’ as an owner, and ask the Property Manager how they would handle that situation.

After more than 30 years in this business we have handled every situation imaginable. We know what to do and just as importantly, what not to do, when problems arise.

(A good property manager should be prepared to handle just about any scenario you can imagine, and give you a good explanation of how they will respond)

How much will my property rent for?

We will conduct a market analysis of your property and provide you with an appropriate rental range.  Rental rates are based upon current rental market conditions and the geographic location, condition and features of the property.  We will also give you recommendations on how your property will show well and rent quickly. Most properties take no more then 60 days to rent.

How will Grace Management advertise my property for rent?

We place professional signage on the property and do extensive Internet advertising.  We will place your home with pictures on over 100 different Internet sites, reaching over 10 million unique on-line visitors per month.  We handle all inquiries in our office and schedule showings directly with potential tenants. The total cost of this advertising package is $110 per month, and is billed to the Owner of the property.

How does Grace Management qualify tenants?

This can be the most important aspect of leasing. When an individual is interested in renting one of our properties, they first must complete a rental application. We process this rental application by reviewing the applicants’ income, employment, credit, criminal history, eviction history, and sexual predator history report.  This information is then analyzed through a point system model, which helps to insure we select high quality tenants.

Who provides the Lease Agreement?

After we have approved an applicant we will schedule a lease signing.  We use custom in-house lease agreements that are structured to provide maximum protection to both you and your property.  We collect a security deposit normally equal to one month’s rent which is held in escrow for the duration of the lease term.  We also provide legal addendums to the lease pertaining to current State and Federal legal issues such as lead paint, mold, and crime free housing.

How does the Owner get their money?

Your funds will be electronically deposited into a bank account of your choice.  This electronic deposit takes place around the 15^th of each month. We also e-mail you an itemized operating statement each month showing all income received along with receipts for any expenses.

Who takes care of maintenance requests?

The tenant will contact us directly for any repair problems that arise.  After we have spoken to the tenant to confirm the nature of the repair issue and whose responsibility it will be, we will send out the appropriate vendor to make the necessary repairs. If a tenant has caused the damage, we will back-bill the charge to the tenant.  If the repair is due to no fault of the tenant, the cost of the repair will be billed to the Owner of the property.  Only venders who meet our high standards of quality, timeliness and competitive pricing are used. We also have 24-hour service in the case of maintenance emergencies.

What happens if a tenant does not pay rent?

In the event that a tenant does not pay rent, the legal eviction process must be followed closely and carefully.  We will handle all aspects of the eviction process including preparing and serving the appropriate legal notices, appearing in court on behalf of the Owner, and if necessary, scheduling and performing a physical eviction with the county sheriff.  In this case, the cost of the legal fees (approximately $220) are back billed to the tenant.

Is Grace Management a licensed management company?

Grace Management is a licensed Real Estate firm active in management and leasing since 1978 and members of the following professional associations:

* National Association of Residential Property Managers (NARPM)

* Certified Property Manager (CPM) designation by our President

* Denver Metro Commercial Association of Realtors (DMCAR)

* Colorado Association of Realtors (CAR)

* National Association of Realtors (NAR)

What does Grace Management charge for Management?

The management fee charged is 10% of the total income per month.  This amount is deducted directly from the rent we collect each month from the tenant.

What does Grace Management charge for Leasing?

At the time we have completed the leasing process on a vacant home and sign a new lease with a new tenant, the Owner will be charged a leasing fee of 40% of one full month’s rent.  This fee is NOT charged until we have signed a new lease with a new tenant.

What happens when the tenant moves out?

When a tenant vacates a property we will complete a move out inspection and handle the security deposit disposition. We will then prepare the unit for a new tenant to move in as quickly as possible.

Does Grace Management offer a tenant placement service where the Owner can still manage the home?

Yes, We do offer a tenant placement service where we will advertise & show the home, qualify a tenant through our screening process, sign a lease, collect the security deposit and then turn the management of the home over to the owner at that time.  The cost of this service is equal to one full month’s rent.

Does Grace Management offer a ‘Lease with an Option to Buy Program’?

Yes, We can advertise your home for rent on a standard lease, or on our ‘Lease-Option Program’. Through this service we can place a tenant / buyer into your property on a lease with an option to buy the property.

Can Grace Management help me sell my home or buy my next property?

Yes, we have a full time sales associate who assists Real Estate investors in locating, purchasing and selling Real Estate. Our sales agent, Greg, has overseen $25,000,000 of residential real estate transactions in 6 different states. 

Why should an Owner use Grace Management?

We will handle every aspect of the leasing and management process precisely, promptly, and professionally in order to make your property grow in value and your mind rest at ease. Click the below link to read actual google.com reviews of Grace Management by our Owners and Residents:

maps.google.com/maps/place

What is the next step in having Grace Management manage & lease my home?

To begin management and leasing services, the Owner of the property simply needs to sign a Management Agreement. At the time the agreement is signed we will collect an operating escrow reserve from the Owner in the amount of $300.  This money belongs to the Owner and will remain in the operating account as a minimum reserve for the duration of the Management Agreement.