Start a new topic
Discussions ezLandlord Questions and Answers General Property Management

Property Management

Is it unlawful to property management a property you do not own in the state of colorado without a Real Estate license and/or are there limitations?  Thank You, Charlie
14 CommentsSorted by Oldest First
YES, if the service offered as a property manager includes the negotiation of a lease or lease terms, an active real estate brokers license is required. If a real estate broker who is in the employ of another broker conducts such management, all management must be conducted under the employing broker. The Colorado Real Estate Commission does not have any approved forms for leases or management agreements but it does have specific trust account and accounting requirements which brokers need to follow in handling security deposits and rental receipts. Brokers engaged in property management are also required to comply with the brokerage relationship section of the license law and applicable rules. Brokers must use the exclusive Right to Lease to establish an agency and/or Exclusive relationship with a property owner.  
Yourself! I find being an independent landlord makes my investment a true investment. It gives me the ability to oversee everything, interact with my tenants and care for my properties. Finding a good or even great property manager is more difficult than a good tenant. You need trust and a relationship that is more than just a professional interaction.
Anyone know where I can get a plugin that can make my website look like this? property management bakersfield ca
I think that is the best statement Ive heard in months. I mean who is watching the property manager? If your property manager isn't treating your property right then get them gone! Our property manager states that she treats our property like her own...she hasn't stepped one foot on our property in over a year. She does drive by but our building is falling apart and the only reason we found out is because our fed up tenant got in touch with us. The property manager wasn't doing her job and now it is costing us big money in repairs because of broken stairs, wood rot, broken sprinkler pipes underground and unhappy tenants who have called and told her of problems to which she replied we manage the inside not the outside. Professional interaction...try interaction period! The property manager should be stopping by and making notes of the property not just collecting rent and 10% of our revenue every month. Upon further investigation of the property management company we found out they have had their license yanked more than once for depositing money into their business account and for acting as a realtor without a license. People wake up!
Once the flat is handed over to us in a pristine condition, Regular maintenance of the flat such as plumbing, electrical works, painting and cleaning will be taken care of by us at no additional cost to the owners. Any major repairs like seepage issue, electrical fault etc will be borne by the owner.
It will be our responsibility to repair any damage caused by the tenants. However, in case of any natural damage like cracks or seepage, you will have to bear the cost of repair.
Tenant is responsible for anything over normal wear and tear
Agree with the above. You can manage your property yourself and use online tools to optimize everything. I use Hemlane (www.hemlane.com) since they will also coordinate and schedule my preferred vendors. With online screening, rent collection, and maintenance tracking, a property manager is only a good option if you have a full-time job and too many properties.
The renewal notice depending on how it was written may be an extension of the lease, there for the form that was signed is the new lease term. Now if it is a lease renewal and you were going to raise rent 1000.00 a month is steep and may be against the law. Usually there is a percentage of the full rent that the rent increase can be. If you are in the right however an can prove it you may need to start with eviction proceedings.
yes, Leasing and collecting rents are included as real estate brokerage services under the state's brokerage licensing requirements. However, if a person is acting as an agent for an owner or a broker while managing or leasing property for the owner or broker, that person is exempt from the requirements.
pets
Hi Frank it depends in what state you are in and what exactly you are going to be doing by "managing". Here in Colorado you do not need your real estate license if you acting as a manager in similarity to a hotel. Doing more short term managing, nightly rentals etc.
20
20
Login to post a comment
More topics in General Property Management
  • Covid-19
  • Renter paid Initial lease payment but never ez signed
  • How to Utilize The PayStub?
  • SHOULD BOTH NAMES BE ON LSE IF TENANT AND GIRLFRIEND BOTH LIVE THERE
  • PA Landlords
  • transfering leases on a sale.
  • Credit Checks
  • Upset tenents.
  • Month to month rent increase
  • Apartment Hotel question
    ezLandlord, Inc. 22228 St. Barts Lane Estero, FL 33928
    BECOME A MEMBER - TENANT SCREENING - FORMS - PRICING - RESOURCES