The old adage goes that the three things that are essential to human survival are food, water and shelter. From this universal truth many people deduce that Real Estate has and always will be a safe and lucrative harbor for investment. It is a great place to deposit that additional income should you find yourself in the fortuitous position of having disposable income or additional funds with which to invest. If you’re reading this and you find yourself in that position odds are that you have worked very hard at your profession investing an enormous amount of time, energy and effort to get to where you are now. You had to do so to reach a level of competence and to be as successful at managing your Real Estate investment the same rules apply.
You have to remember that you are purchasing an investment, not a job, and this Masters Property Management come in. Masters Property Management is a full-service property management that handles everything from marketing through to evictions (avoided at all costs if possible) and everything in between. As a dedicated residential property management company, we have seen and resolved just about every issue that can arise relating to the management of a residential investment property. Murphy’s law certainly has proven itself to be true where anything that can happen will happen and, in most cases, has happened. Some examples of this would divorce, domestic violence, shootings, robberies, flooding, fire, water damage and asbestos discovery just to name a few issues that you need to be prepared to overcome when managing a residential real estate investment.
To appropriately and effectively address complications that can arise during the course of a lease term it is important to have protocols and strategies in place ahead of time. To be proactive in anticipating potential issues rather than being reactive when they have a chance develop from minor issues to significant problems. When you do something day and day out you develop a level of proficiency and competence that otherwise would cause you a significant amount of stress to figure out for the first time. Am I getting overcharged by my contractor, does this constitute a maintenance emergency, do I necessarily need to do this repair as Colorado State requires you to in certain circumstances and failure to do so can result in severe repercussions? These are questions you would need to ask yourself every time as incident occurs rather than having a wealth of knowledge and experience to deploy when needed.
We dedicate all of our time energy and effort to addressing any issue that arises from our homeowners as well as our tenants. With 200 plus properties under management we have a trusted vendor for all aspects from electrical, plumbing, house cleaners, carpet cleaners painter etc that all do great work at a very reasonable rate. The amount of work we refer to the home services professionals’ results in them being very motivated to provide us the premium service at a great price that we pass along to all of our homeowners. In addition to this we also have a full-time maintenance coordinator on staff whose job is dedicated to troubleshooting issues where possible in order to save our homeowners as much money as possible where a call and some carefully delivered instruction to tenants can prevent a contractor being sent to the home when minor issues can be resolved with home maintenance education where appropriate.
Eugene O’Brien is an owner of Masters Property Management. He can be reached at 303-930-5125
