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FDIC Accounts Required

by The Colorado Springs Group™

They're required by law if a property manager is holding funds belonging to another person. It's not a grey area, it's clear cut and easy to understand.

You'll see property managers marketing that they're using FDIC accounts, and that's the same thing as advertising "I follow the law". It shouldn't be something that sets a property manager apart, it's a general expectation that the property manager is following the law. That's not too much to ask.

When you're looking for a property manager in the Colorado Springs area, there are a lot to choose from. Don't settle for one of these companies making it sound like they go above and beyond by following the law. Following the law is easy to do. Consider contacting us to see just how far we set ourselves apart from the competition.

Professional Lockboxes with Property Management

by The Colorado Springs Group™

Lockboxes sound easy enough, it's a box that keeps a key locked securely inside. They're used nationwide by realtors, contractors, vendors, asset management companies, etc.

What most people don't realize is the level of safety from one box to the next. With most of these boxes, once you set the combination, it stays the same until it's manually changed again. There is also no way to track who used the box and when. Once you give a combination to anyone, you're trusting that person is going to keep the combination safe and to themselves. If they write it down and someone else sees it, you don't know. If they happen to leave the box closed but set to the combination it's really unlocked.

When 3 people get the combination, and something is broken inside the home, or a door is left unlocked, who is to blame? There is no way to prove or hold anyone accountable. If you are a licensee with E&O insurance, using a lockbox that doesn't track access to a home is considered negligence in many states and they will not cover a claim.

Our lockboxes are much more expensive. They are top of the line and track access better than anything else out there. We know who went into the home, and when. We can also provide short term codes assigned to an individual should the person not have access through a realtor key. These codes expire after 60 minutes.

Having great lockboxes eliminates many problems. It minimizes the chances of theft of either your property or a current tenant's property.

We do not let unlicensed people into a home to see the home for themselves. In our honest opinion it's lazy for property managers to do that and just puts a lot of risk on homeowners and tenants.

2016 Entire Year's Sales Activity

by The Colorado Springs Group™

Entire Year's Sales Activity 2016 

Broken down by area to give a better prospective on the results for the entire year. Single Family & Patio Homes

Black Forest: 258 Sales for a total dollar volume of $126,390,049

Briargate: 1,041 Sales for a total dollar volume of $370,867,735

Central: 942 Sales for a total dollar volume of $211,675,628

East: 940 Sales for a total dollar volume of $208,660,411

Fountain Valley: 2,370 Sales for a total dollar volume of $540,927,966

Falcon - Peyton: 1,090 Sales for a total dollar volume of $324,709,437

Marksheffel: 364 Sales for a total dollar volume of $102,262,262

Northeast: 1,147 Sales for a total dollar volume of $308,852,786

Northwest: 526 Sales for a total dollar volume of $196,200,200

Northgate: 540 Sales for a total dollar volume of $235,651,776

Old Colorado City: 297 Sales for a total dollar volume of $73,408,350

Powers: 1,644 Sales for a total dollar volume of $416,509,613

Southeast: 816 Sales for a total dollar volume of $146,955,694

Southwest: 700 Sales for a total dollar volume of $253,819,557

Tri-Lakes: 708 Sales for a total dollar volume of $328,073,005

West: 221 Sales for a total dollar volume of $67,454,972

"Based on information from the Pikes Peak REALTOR Services Corp. ("RSC"), for the period 1-1-2016 through 12-31-2016.  RSC does not guarantee or is in any way responsible for its accuracy.  Data maintained by RSC may not reflect all real estate activity in the market."

2016 Fourth Quarter Sales Activity

by The Colorado Springs Group™

Fourth Quarter Sales Activity 2016

Broken down by area to give a better prospective on the results for the Fourth Quarter. Single Family & Patio Homes

Black Forest: 78 Sales for a total dollar volume of $38,745,026

Briargate: 214 Sales for a total dollar volume of $78,720,630

Central: 247 Sales for a total dollar volume of $54,050,737

East: 215 Sales for a total dollar volume of $49,089,719

Fountain Valley: 586 Sales for a total dollar volume of $135,166,195

Falcon - Peyton: 264 Sales for a total dollar volume of $79,712,664

Marksheffel: 81 Sales for a total dollar volume of $23,416,200

Northeast: 274 Sales for a total dollar volume of $75,048,674

Northwest: 111 Sales for a total dollar volume of $42,120,310

Northgate: 124 Sales for a total dollar volume of $55,374,168

Old Colorado City: 66 Sales for a total dollar volume of $16,743,756

Powers: 380 Sales for a total dollar volume of $95,354,024

Southeast: 217 Sales for a total dollar volume of $40,208,533

Southwest: 149 Sales for a total dollar volume of $53,458,415

Tri-Lakes: 186 Sales for a total dollar volume of $88,207,045

West: 50 Sales for a total dollar volume of $16,433,100

"Based on information from the Pikes Peak REALTOR Services Corp. ("RSC"), for the period 10-1-2016 through 12-31-2016.  RSC does not guarantee or is in any way responsible for its accuracy.  Data maintained by RSC may not reflect all real estate activity in the market."

2016 December Sales Activity

by The Colorado Springs Group™

December Sales Activity 2016

Broken down by area to give a better prospective on the results for December. Single Family & Patio Homes

Black Forest: 21 Sales for a total dollar volume of $9,527,607

Briargate: 61 Sales for a total dollar volume of $21,413,894

Central: 90 Sales for a total dollar volume of $20,111,492

East: 62 Sales for a total dollar volume of $14,392,869

Fountain Valley: 232 Sales for a total dollar volume of $52,768,612

Falcon - Peyton: 96 Sales for a total dollar volume of $28,548,257

Marksheffel: 24 Sales for a total dollar volume of $7,405,569

Northeast: 83 Sales for a total dollar volume of $22,162,925

Northwest: 40 Sales for a total dollar volume of $15,170,750

Northgate: 46 Sales for a total dollar volume of $21,378,895

Old Colorado City: 22 Sales for a total dollar volume of $5,398,706

Powers: 127 Sales for a total dollar volume of $31,702,237

Southeast: 66 Sales for a total dollar volume of $12,220,169

Southwest: 44 Sales for a total dollar volume of $15,381,600

Tri-Lakes: 69 Sales for a total dollar volume of $32,910,250

West: 13 Sales for a total dollar volume of $4,463,500

"Based on information from the Pikes Peak REALTOR Services Corp. ("RSC"), for the period 12-1-2016 through 12-31-2016.  RSC does not guarantee or is in any way responsible for its accuracy.  Data maintained by RSC may not reflect all real estate activity in the market."

Screening vs. Interviewing a Tenant

by The Colorado Springs Group™

What's the difference between the tenant screening, and the tenant interview?

Screening is the background check, income, rental history... things in an application.

We like to meet tenants face to face. Interviewing people for tenancy is very similar to interviewing people for a job. We like to see eye contact, body language, etc. We like to hear honest, unscripted answers.

It's a great opportunity to ask questions to find out why they are moving to the area, how they like their job, ask about their pets, etc.

It's not always possible to do an interview. We take whatever steps are available to us to do some sort of an interview. Finding the right tenant means finding a tenant who pays on time every month, lets us know about any possible repairs needed, and who cares for the property.

Pet Smell Security Deposit

by The Colorado Springs Group™

Proving a pet smell isn't impossible, but it's also not easy when you're trying to withhold part of a security deposit to remedy a pet smell.

It has to be documented, and proven beyond normal wear and tear. Visible damage is evident and simple to prove. Smells are completely different. They cost more to remedy, and you may need to interview people in the home to document a smell.

Testimony recording multiple people walking through the home describing what they smell and where as they go through the home is a good practice.If you're in doubt, go to a local courtroom to watch how things are handled. Since these things can be subjective, it's good to know how a local judge and/or magistrate decides.

E&O Insurance Companies

by The Colorado Springs Group™

Kevin Olson discusses why E&O insurance companies are a big deal. Find out why you should talk about them withPublish a property manager. In Colorado, E&O insurance is a requirement. There are major differences in the basic policies these companies offer. Why does this matter to you? Because many licensees sign up for the minimum amount of coverage the state of Colorado requires. It's cheaper for them, but riskier for you the owner. Is property management even in the policy? Ask a property manager to be sure.

Displaying blog entries 1-8 of 8

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The Colorado Springs Group™
6665 Wild Indigo Drive
Colorado Springs CO 80923
(719) 799-3686

Kevin & Jessica
The Colorado Springs Group
6665 Wild Indigo Drive
Colorado Springs, CO 80923
(719) 799-3686