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HighPoint Property Management. A Highly Ranked Property Manager Two Years in a Row

Brad Coen, HighPoint Property Management

HIGHLY RANKED PROPERTY MANAGER SELECTED AGAIN FOR TOP

First, I’d like to thank Expertise.com for selecting HighPoint Property Management as a Highly Ranked Property Manager. Picking us as one of the top ranked property manager’s in Denver, Colorado is a special honor and privilege. First I’d like to thank my team. Because without them it does not work.  My team is the best. They always go beyond the “good enough” approach. I think we were born with it. Finally, a special thanks to our great clients, tenants, and vendors. Because, we only choose work with the best. This is why we love what we do.

Next, it is key to note that Expertise.com looked at over one hundred property management companies in Denver.  I had no idea that there are that many property management companies around

In addition, the following selection criteria was used select the top ranked property manager:

  1. Reputation: A history of delighted customers and outstanding service
  2. Credibility: Building customer confidence with licensing, accreditation, and awards
  3. Experience: Masters of their craft, based on years of practical experience, and education
  4. Availability: Consistently approachable and responsive, so customers never feel ignored
  5. Professionalism: Providing service with honesty, reliability, and respect

It’s is nice to note that this criteria describes our core values. Since good service matters, outstanding service is essential. Yet, most of our competition falls short in this area. And picking the wrong property manager can cost you thousands of dollars. So, I think it is nice to ask about fees, but that should not be your only criteria. Because so many people just ask about fees, I’ll write more about this in a different blog.

Who Is Expertise.com?

And, who is Expertise you ask? Expertise.com is a great website to find and hire the best local experts. And they have many different business groups to select from.  So, go there and check it out.  They connect people with experts in their community. Furthermore, it is a free service.

Here is a link to the full article on Top Ranked Property Managers in Denver.

https://www.expertise.com/co/denver/property-management

Highly ranked HighPoint Property Management manages residential property throughout the Denver metro area.

The post Highly Ranked Property Manager appeared first on HighPoint Property Management.

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HighPoint Property Management voted Best Property Managers in Denver for the past two years.

Denver Rents Cooling

We are seeing Denver rents cooling. This is a trend that started about one year ago. It’s now getting noticed by landlords and property management companies across Denver. It doesn’t mean cheap rent, however, it’s just that Denver rents are cooling. So, if your listing is sitting for thirty days or longer don’t feel alone. A quick look to zillow.com shows many listings on the market for 60 days or more. The Denver Post Article discussed this trend a few months ago. As a landlord in the Denver metro area, what do you do to find qualified tenants in a market when Denver rents are cooling? You can do many simple things to rent your property fast. At HighPoint Property Management, we’ve noticed this trend of the cooling of Denver rents and have three tips to fill your vacant unit fast.

Here are three easy tips to successfully renting your property faster than the competition. The first is to:

  1. Price your rental property right the first time. Too many landlords over price there rental property. Try to be realistic when setting your rental price.
  2. Make sure your property is clean, empty, and move in ready. This is a different market than last year.
  3. Hire HighPoint Property Management now. highpointpm.com If your property management company isn’t working hard for you it’s time to switch.

We focus on renting high quality rental properties in Denver, Thornton, Broomfield, Brighton, Commerce City, Wheat Ridge, Erie and other surrounding communities. HighPoint Property Management was voted Best Property Managers in Denver two years in a row. We can help you today even with Denver rents cooling.

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Denver Local Property Manager – Why hiring a smaller to mid-sized, company is a better option than going to a big firm or a small startup.

HighPoint, a Denver local property manager, is an intentionally small to mid-sized property management company.

I love reading the big property manager’s websites. They are all fairly similar with their message. For example, the big companies make claims such as “the largest” or “fastest growing”, “we manage over 1,000 properties”, “Over 1,000+ leased last year”.  Awesome. How does that help you, the owner, looking to hire a property manager that will take care of you, your tenants, and your house? Does this type of messaging cause you to trust, know, or like them because they handle thousands of properties. I doubt it.

What about the small one person startup company? Ever read their website? I can’t find it either.

Why HighPoint Property Management, a Denver Local Property Manager, Is a Better Choice.

My initial strategy for HighPoint was 1,000+ properties under management. Now, I’m not so sure that is a great idea. Below, I discuss 5 reasons why.

  1. Service levels generally begin to suffer as you grow, especially the fast growth property management companies. At HighPoint Property Management, we grow slow and on purpose. We only take on clients that make sense for us and them.
  2. We like to maintain relationships with our clients, not look you up by address when you call. Our agents know who you are and you know us.
  3. It is easy for HighPoint to change anything on a dime. If it isn’t working, I change it. So, can that happen with a franchise? Just try to vary the menu at McDonald’s as see what happens.
  4. A smaller team means more personalized service. As a result, you can actually talk to the same person when you call our office.
  5. HighPoint is big enough to have the latest technology and an actual office – same as the big companies. Smaller startups work from a home office (parent’s basement) and use flip phones. They cannot afford the larger fixed costs.

HighPoint Property Management is here for the long haul. We love what we do. Switch today and experience the difference.

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Good property management companies are not the same a great property management companies. Do not settle for good. Things to consider when looking for great.

“Good is the enemy of great.” – Jim Collins

I turn down a lot of business. Sometimes this is painful, but I know it’s the right thing to do. HighPoint Property Management is in this for the long haul. That means choosing clients wisely. Many property management companies mistakenly take on anything. It’s like picking any person from match.com just to have a date for the weekend. Not good.

When you consider hiring a property manager, do you look for good or great?

Do not settle for the cheapest company. You get what you pay for as the saying goes. Do not pick the fastest growing company in town. How does that help you? Do not pick the largest company in town. If you do, you become a number, not necessarily a client.

These traits make HighPoint great, while others, often copying us, they usually fall under the “good” category.

  1. Integrity. Treat others how you want to be treated. This one is a given in the property management world or any world for that matter.
  2. Fair pricing for the value we create for our clients. We are the Nordstrom of property management, not the Walmart. No offense, as my daughter says to me often.
  3. Responsiveness. Always a tough one when growing too fast. However, we strive for greatness as this is essential for staying at the top.
  4. Teamwork. Hands down HighPoint Property Management has the best property management team in Denver. Are licensed agents are experienced and dedicated.
  5. Local. We are not a franchise. We are not owned by a private equity firm located out of state. And we don’t use celebrity endorsement, God forbid.

Contact HighPoint Property Management and take your Denver rental property from good to great today. https://highpointpm.com

The post Great Property Management appeared first on HighPoint Property Management.

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Top Ranked Property Manager, Brad Coen

Top Ranked Property Manager HighPoint Property Management Selected For 2016

First, I’d like to thank Expertise.com for selecting HighPoint Property Management as a Top Ranked Property Manager. Picking us as one of the top ranked property manager’s in Denver, Colorado is a special honor and privilege. First I’d like to thank my team. Because without them it does not work.  My team is the best. They always go beyond the “good enough” approach. I think we were born with it. Finally, a special thanks to our great clients, tenants, and vendors. Because, we only choose work with the best. This is why we love what we do.

Next, it is key to note that Expertise.com looked at 162 property management companies in Denver.  I had no idea that there are that many property management companies around.

In addition, the following selection criteria was used select the top ranked property manager:

  1. Reputation: A history of delighted customers and outstanding service
  2. Credibility: Building customer confidence with licensing, accreditation, and awards
  3. Experience: Masters of their craft, based on years of practical experience, and education
  4. Availability: Consistently approachable and responsive, so customers never feel ignored
  5. Professionalism: Providing service with honesty, reliability, and respect

So, it is nice to note that this criteria describes our core values. Since good service matters, outstanding service is essential. Yet, most of our competition falls short in this area. And picking the wrong property manager can cost you thousands of dollars. So, I think it is nice to ask about fees, but that should not be your only criteria. Because so many people just ask about fees, I’ll write more about this in a different blog.

Who Is Expertise.com?

And, who is Expertise you ask? Expertise.com is a great website to find and hire the best local experts. And they have many different business groups to select from.  So, go there and check it out.  They connect people with experts in their community. Furthermore, it is a free service.

Here is a link to the full article on Top Ranked Property Managers.

https://www.expertise.com/co/denver/property-management#provider3

Finally, HighPoint Property Management is a full service property management company in Denver area that manages hundreds of properties and small-sized HOAs. And now we are a top ranked property manager!

The post Top Ranked Property Manager appeared first on HighPoint Property Management.

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I just searched “Real Estate Investing” on Amazon and found 14,341 results.  

Most of the titles make it sound so easy. They almost make you want to quit your day job, escape the cubicle 9-5 thing, flip your way to hassle-free passive income, or be financially free with no money down in a creative income sort of way with five proven strategies.

Maybe you read something on BiggerPockets.com about how someone life hacked their way to millions overnight with a wholesaling hard money proven system. And it was super easy. And anyone can do it. Even you!

Maybe you watched one of those cable shows how they flipped their way to a $20,000 profit in 40 minutes (not counting commercials).

All of this may be true, but those results are not typical.

Most of the time it’s B.S.

Nobody writes about their disastrous real estate deals. No books were written about how they put no money down, got foreclosed on, had their spouse leave them, had their dog bite them right after they came home from getting fired. Well, maybe James Altucher. But that’s it.

Real estate investing is hard work almost all of the time.

And it’s not passive.

That’s an IRS term. A typical day at HighPoint Property Management is anything but passive. Believe me.

So, how do you invest in the Denver real estate market without losing money? The boring old fashioned way.

  1. Decide your outcome first. What type of property, what neighborhood, etc.
  2. Have a large pile of cash ready of a down payment and for a reserve fund.
  3. Know your numbers. The real ones. Not the pro forma fake ones.
  4. Hire a property manager. Believe me, you’ll want to keep your day job.
  5. Be okay with maintenance issues. Things break.

At HighPoint Property Management, our clients consistently invest the old fashioned way. Whether they have one rental property or dozens, they are successful every month. I see it for real. Real numbers. Real people. They just don’t write books or blog about it. They are too busy working hard on their next deal.

The post THE MYTH OF EASY – REAL ESTATE INVESTING IS ANYTHING BUT appeared first on HighPoint Property Management.

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Denver Property Management – Insights on deferred maintenance

At HighPoint Property Management, we turn down a lot of business. One of the most common ways to get turned down is having a rental property with deferred maintenance issues. If you are a landlord who has a rental property that you haven’t seen in years because you read a book once that said something about “passive income”, chances are we won’t be doing business together. At least not right away.

Colorado’s Warranty of Habitability Law

Let’s start with the basics. As a Colorado landlord, you have certain responsibilities when it comes to deferred maintenance issues.  Deferred maintenance problems are a common source of landlord-tenant conflict. As a landlord, you need to ensure that your rental property is fit for living when a tenant moves in. For instance, you are responsible for making sure your rental property has running water and reasonable amounts of hot water, heat, lights, lockable exterior doors and windows, walls, roofs, floors, stairways, and railings that are in good repair, gas and plumbing in good working order and a connection to a working sewage system. All of these examples could be the result of deferred maintenance – clearly a sign of an absentee landlord.  If the landlord can’t meet these basic standards, we can’t help the landlord with property management.

Higher standards in property management

Colorado’s Warranty of Habitability Law sets a common sense standard baseline relating to deferred maintenance. At HighPoint, we take it a step further with regard to deferred maintenance. For instance, as a landlord, if you are thinking to yourself that duct tape will hold that cracked furnace together for one more year, or the tenant can go a few more years without air conditioning that you promised them, or maybe the HOA community association manager won’t notice your dead tree this year either, then we probably will send you down the road to the discount property manager that’s obsessed with the “number of doors managed” or trying to hold on to the false metric of “fasted growing company”.  At HighPoint, we believe in quality property management not quantity property management.

Savvy landlords don’t fall for the deferred maintenance trap

Deferred maintenance on your rental property will kill your future cash flow. Just like deferred maintenance on your car will have dreadful long term results. For instance, you decide you don’t need that $38 oil change because you’d rather use that money for something else and your car seems to work okay now. One year later you find yourself your face in your hands, sobbing like a two year old because your mechanic just informed you of the price of a new engine. Don’t be a landlord that falls for the deferred maintenance trap. It never works out.

HighPoint Property Management has the best clients in Denver

Proactive maintenance on your rental property is paramount. It’s one of the keys to successful real estate investing for the long haul. Astute real estate investors understand they have to maintain their property to win with cash flow in the long run. Astute real estate investors partner with HighPoint Property Management because they understand the value of a professional property management team who understands the pitfalls of deferred maintenance and how proactive maintenance leads to long term positive cash flow and happy tenants.

To learn more about Denver property management and how HighPoint Property Management makes life easier for owners and tenants, visit highpointpm.com.

The post Denver Property Management – Insights on deferred maintenance appeared first on HighPoint Property Management.

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All Denver Property Managers are not built the same. How HighPoint Property Management is helping their Denver are renters.

At HighPoint Property Management, we believe all of our renter’s should get credit for paying their rent on time. For most Denver property managers, however, only negative rent payments get reported to credit reporting agencies in the form of collections.

It is hard enough in this Denver rental market to find a house or condo to rent. When you are lucky enough to find the right rental property, shouldn’t you also get credit for on time rent payments? Not all Denver property managers are using this tool to help tenants. If fact, the typical property manager will only report negative information or no information.

If you are looking for an apartment to rent or condo for rent or even a single family house for rent in the Denver metro area right now if may be helpful to ask your landlord or property manager if they report positive rental payment data. You may be surprised to hear that most property managers and especially do-it-yourself (DIY) Denver landlords typically will not report this helpful information.

The Value of Paying Your Rent on Time

At HighPoint Property Management, we recognize the value of reporting positive rental payment data and we want to provide our tenants with this unique opportunity to get credit for their on-time rental payments.

For instance, a tenant who’s currently  renting a house or condo from HighPoint property management pays their rent on time with HighPoint Property Management, it will add value to because the tenant can potentially receive lower interest rates on a mortgage and car and consumer loans.

FAQs

Will my rental payments affect my credit score?

Rental payment data will be included as part of a standard credit report. This is good news if you choose HighPoint Property Management as your property manager.

Can I build my credit history by paying my rent on time?

Yes. Positive rental payment history will allow you to establish or build credit history though on time payments. This is why it’s important to ask your Denver property manager or do-it-yourself landlord if they have been approved for the partnership arrangement with a credit bureau reporting agency.

When I find a house for rent in Denver and HighPoint Property Management is managing the rental property, how does the lease appear on my credit report?

Your HighPoint Property Management lease will appear on your credit report as a trade line that describes your account status and activity. The trade line will display 25 months of history, date opened, monthly payment amount and recent payment activity.

Learn more about HighPoint Property Management brings value to Denver area renters

To learn more about how HighPoint Property Management makes life easier for owners and tenants, and how other Denver property managers may fall short on these types of professional partnerships and technology, visit highpointpm.com

The post All Denver property managers are not built the same appeared first on HighPoint Property Management.

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Residential Real Estate Investing. It’s about the cash flow, stupid.

Real estate investing, even on a very small scale, remains a tried and true means of building an individual’s cash flow and wealth. – Robert Kiyosaki

I often hear real estate investors bragging about their residential rental property’s return on investment (ROI). A quick search on www.biggerpockets.com found 6,784 results for “ROI”. Here is actual quote I found while reviewing my search results:

Q: “What does anyone think about 6% to 8% ROI for single family homes for buy and hold property?”

A: “That’s really low especially if you are leveraged. I am looking at 15% minimum.”

Upon close analysis, it became clear to me that some people are totally missing the mark when it comes to real estate investing. To be sure, ROI is a fun ratio to use and has its place -especially at cocktail parties, the golf course, the local Meetup Investor Group, and college text books.

According to the www.Investopedia.com definition, ROI is a performance measure used to evaluate the efficiency of an investment or to compare the efficiency of a number of different investments.  The basic formula is below.

ROI = (earnings – cost of investment) / cost of investment * 100%

Let’s look at an example using the Out-of-Pocket Method. This method results in a higher ROI than the Cost Method. Definitely the method you’ll want to use while talking to your investor friends at the Meetup meeting.

You buy a single family home as an investment property for $150,000. You put down $30,000 cash or 20% and finance the difference of $120,000. (I know, in the Denver residential real estate market these numbers are nuts. It’s just an example to make a point.)

Then you spend $50,000 cash for repairs and rehab. So, the out of pocket costs are $80,000. The new appraisal comes in at $250,000 and BAM, you’re rich! After all, that’s what they do on those HGTV shows. According to the Out-of-Pocket Method, your ROI is 212%.

$170,000/$80,000*100=212% ROI.

Other people’s money, baby! You can’t wait to tell your boss to shove it on Monday morning. “This is awesome!” you scream with your best Tony Robbins voice.

But wait, there’s more.

ROI can totally mislead you. There are different methods to ROI calculation. There are too many factors left out of the equation. ROI is mostly for comparing similar investments at a similar point in time with similar variables – ceteris paribus. It’s almost impossible to compare similar investments in residential real estate because they are not similar. Relying on your ROI calculation, you may buy the wrong property, in the wrong part of town, at the wrong time, and at the wrong price.

If you are using ROI for your decision-making process when buying residential investment properties, you may find yourself six months down the road sucking your thumb while lying in the fetal position under your bed.

Call your old boss and apologize for telling him to “Stow it, Dingy”. You need your job back.

Think differently than the so-called “financial sophisticated” crowd. Stay in the real world. Keep real estate investing simple. It really comes down to this basic question – Is more money coming in or is more money going out of my pocket? It’s basic addition and subtraction. Residential real estate investing is about cash flow. Good residential real estate investors buy properties that make good cash flow sense from day one. Leave the ROI calculations to the college textbooks and cocktail parties.

The post Residential Real Estate Investing. appeared first on HighPoint Property Management.

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Are You Part of an HOA? Do You Know the Difference Between an HOA and HOA Management Company?

You start on your third cookie while admiring the plastic flower in the middle of the large conference room table. Your arm hurts from signing yet another stack of papers that you didn’t read. “Just give me the keys” you think to yourself.  It’s a safe bet that the stack of papers contained HOA governing documents.

Let’s start with the question, “What is an HOA and how does it work?”

An HOA or Community Association is a legal entity in which the owners enjoy the protection, enhancement, maintenance and preservation of their homes and property.  The three characteristics of a community association are:

  1. Membership in the community association is mandatory and automatic for all owners.
  2. Certain association governing documents bind the owner and the association to each other through mandated actions.
  3. Mandatory lien-based assessments are levied on each owner in order to operate and maintain the community association.

An HOA is a not for profit legal entity made up of the Association and a Board of Directors. The Board of Directors is a group of homeowners elected by the owners or the Association. In most cases the HOA Board of Directors contracts with a HOA Management Company to oversee the management duties of the community. Management responsibilities can vary depending on the association. For instance, many HOA Management Companies track owner payments, coordinate vendors and contractors for maintenance issues, complete inspections, assist with budget preparation, enforce rules and regulations, etc.

In the state of Colorado, HOA Management Company must hold a specific license to perform these duties. The Community Association Manager (CAM) license is became effective in 2015.

HighPoint Property Management now offers HOA Management for Denver are communities and condominiums, HighPoint focuses on smaller sized residential or commercial. We believe we will become the best HOA Management Company in Denver. For more information and resources regarding HOA Management Company licensing and duties, please visit:

www.caionline.com

www.dora.state.co.us

highpointpm.com

The post What’s an HOA Management Company? appeared first on HighPoint Property Management.

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