Owner's Guide to
Should You Rent or Sell Your Home?
Many of our tenants are financially responsible families or couples that do not feel it is the right time to invest in a home, but still want to live in a nice home.
Leasing out your personal home may seem daunting at first. That is where hiring a property management company like Springs Homes for Rent comes in. Rent payments, maintenance requests, seasonal maintenance, tenant screenings and finding good tenants are just some of the things handled by us.
We take the worries and stresses out of leasing your home so that the only time you think about it is when you receive your monthly owner’s check. Now may be the right time to hold onto your home and let us manage it as a rental. Contact us for more information.
Move Ins and Move Outs
When you place your home under Springs Homes for Rent, you can be assured that we will monitor the move-in and move-out of each tenant. The tenant will go through a move-in process which includes a detailed move-in inspection. The purpose of this inspection is to document the condition of the property in detail. Per the lease, the tenant is required to maintain the property to this documented condition and deliver the property back to us in the same condition as the previous move-out.
Initial Move-Out – When you move out of your home the first time, we will request for it to be fully cleaned, carpets professionally cleaned and re-keyed. This is the same condition that tenants will be required to return the property to us in at move-out. Costs for re-keying the property will be deducted from your first owner payment and we are happy to give you an estimate of what this costs for your specific property. If you do not wish to fully clean the property or have the carpets professionally cleaned, we can arrange this for you and it will be deducted from your first owner payment.
Maintenance During Tenancy – In Property Management, things do wear out and break over time and that is a fact that owners must accept. If, during a tenant’s lease, something breaks that falls under normal wear and tear we will use our trusted vendors to get it fixed right away. For repairs greater than $250, we will request approval prior to dispatching a vendor. If, on the other hand something breaks that falls outside of normal wear and tear (i.e. a baseball breaking a window), we will work with the tenant to get it repaired at their expense.
Our online tenant and owner portals make it easy to keep in close communication with both our tenants and owners. If you ever have a question about a payment, a repair or when the next lease expires, simply start a conversation on the portal and someone will respond to your question right away.
For payments and bills, all invoices and statements are posted on your owner portal so you can refer to them, download them or print them at any time. In addition, your end of the year statement and your 1099 will be posted on your portal for when you are ready to do your taxes.
Keeping your home in good shape is a priority for Springs Homes for Rent. We encourage our tenants to report maintenance items as soon as they occur and our move-in and move-out inspections make it clear the condition of the home from one tenant to the next.
We also help by taking care of some of the seasonal maintenance required. We will have your sprinkler system winterized in the fall and de-winterized in the spring. We also will schedule an annual furnace maintenance check in the fall. This will make sure your furnace is working properly and this preventative maintenance often eliminates those emergency calls in the middle of winter.
All maintenance items less than $350 will be covered by your maintenance escrow and will be deducted from your monthly owner payment. If your home requires more extensive repairs, you can add money electronically to your escrow to cover this amount.
Our online web-based system makes collecting and dispersing payments easy. All tenant payments take 2-4 days (depending on holidays and weekends) before the payment has cleared and there is no possibility of insufficient funds. We generally post owner statements and pay owners no later than the 15th of each month. The electronic payment funds will be available to your account after an additional 2-4 days for settlement.
Frequently Asked Questions
Most frequent questions and answers about Colorado Springs Property Management
Rent is due on the 1st of the month and late on the 5th. We need the rental payments to clear the bank before we pay owners, so owner payments are generally done between the 10th and the 15th of the month. If for some reason your payment will be delayed past the 15th, you will be contacted.
Most of our leases are 12 months, but a shorter or longer lease can be set by the property owner.
Yes, we use ACH for both tenant payments and owner payments. These payments are no cost to owners and go directly to the bank account that you setup.
Contact us online through the portal.
We have potential tenants fill out an online application then we use screening tools to assess the tenant’s credit score, criminal history, rental history and employment history. We will do followup inquiries to verify or clarify any information needed.
Yes, we require all tenants to carry renter’s insurance. It is generally between $15-$40 per month depending on coverage.
Yes, there is a standard military clause in the lease. If a tenant is military and receives PCS orders, we are required to let them out of the lease.
The tenant is responsible for yard and lawn maintenance.
The tenant is responsible for maintaining trash service during the extent of the lease.
The tenant is responsible for snow removal, unless it is included by the HOA.
Springs Homes for Rent is responsible for the seasonal maintenance of the sprinkler system and any seasonal furnace maintenance.