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5 Ways To Screen Your Denver Landlords

Posted on: October 1st, 2016 by , No Comments

landlord

It’s one thing to be screened as a tenant, it’s another to make sure you have a good landlord too.

A Landlord loves the standard practice in screening potential tenants. References, work history, banking information, and even your Social Security number are fair game. But what about your landlord’s references? How concerned should you be about trusting someone you hardly know with your private information?

It’s similar to a job interview. The employer wants to know if you’re qualified and the employee wants to know if there’s worthwhile benefits. Here are five way to determine if a landlord has a good “401k plan”.

1. Looks Matter

Whoa, whoa. Not the landlord’s appearance, the property’s. This is going to be the first clue in knowing if the owner takes good care of what they own. Everything else isn’t tangible so it’s hard to tell with things such as the landlord’s behavior at first site unless you dig in more. Make sure it really is new carpet and not just shampooed carpet for example.

While cosmetic repairs are important, also look closely at the things that will affect your safety. Do they have fire extinguishers in working order & ready to go or do they look like they’ve been there since 1976? If there is a pool in the community, does it look neglected or is it cleaned regularly and maintained? Broken glass in the pool without being known could definitely cause harmful injuries.

2. Property Management

This is the most important thing to look at in whole. Many novice individuals in the real estate business think property management is collecting checks or showing units to new tenants. There’s a reason it’s called property management and not “cashing checks and taking names” management.

You must be fastidious about knowing how well your place is being taken care of. It’s more than just fixing toilets. It’s everything in and outside of the unit. Great property management companies keep you up to date on everything that is going on. Outside of maintenance and paperwork for you the tenant, this is critical for the landlord as well. If they aren’t maintaining a healthy environment to live in with great business skills it will cause the landlord to lose money and possibly ownership. If you’re living at a place you love and ownership changes hand, it can cause you to move elsewhere if it turns out bad.

3. Consider Credibility

Whether your landlord is a property management company or individual, consult the Better Business Bureau or your local Chamber of Commerce. You can also consider leveraging social media to see if anyone you know has had experiences with the company. Get your Facebook, Yelp and Google on. Take a look at RateMyLandlord.com or ReviewMyLandlord.com, two websites that use the power of past experiences to help you make a more informed decision.
Landlordology.com has great resources and covers the Colorado Rental Laws as well.

4. Consult With The Neighbors & Residents

Most likely there are others already living in the building or neighborhood that can give you some feedback on what’s been going on and how the relationship has been with the landlord and tenants. Ask them about how often the rent increases or how quick they are to move on necessary repairs. Having a home means privacy, so ask them how often the landlord stops by. Which shouldn’t be that often.

A typical lease agreement might state the following reasons they would stop by:

  • a yearly inspection
  • emergencies
  • repairs and maintenance
  • to show unit to future tenants (if you’re vacating of course)
  • when permitted

5. Flip The Script

Don’t be so intimidated to get to know your landlord, their experience and what they’re all about. It’s a business relationship but you don’t have to be uptight either. Be honest and upfront and expect the same from them. Bring up things that may cause a red flag for both of you. Be very clear about the terms in the lease and don’t be afraid to negotiate anything that may better fit your situation such as a 8 month lease instead of a standard yearly lease. Here are some additional important questions you want to ask:

  • When is your rent payment considered late?
  • Is it a security or damage deposit? Will they give you a receipt?
  • Did the landlord provide you with a detailed checklist of the conditions of the unit upon move-in that you both signed off on?
  • Does the lease include any rules that violate your rights under state or local laws? (check them out here)
  • Is it a fixed-term or month-to-month tenancy?
  • Who do you contact in an emergency?
  • What is the guest policy?
  • Will the landlord allow you to move another person into the unit mid-contract?
  • What is the screening process?
  • Is it your responsibility to put the utilities in your name? What responsible for?
  • GET EVERYTHING IN WRITING

If you have great or bad experience with landlords, don’t hesitate to share it in the comments below. a tenant-landlord should not be a complicated and stressful relationship.

Are you a tired landlord? Adam Buys Houses in any condition and will inherit tenants. Please call 303-997-2045 or simply go to www.adambuysdenverco.com for more information.

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