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PROPERTY MANAGEMENT

OVERVIEW OF GENERAL PROCEDURES FOR OWNERS

  • Management agreement is signed with terms agreed upon by agent and owner.

    MG Property Management will advertise your property in the MLS, local paper, our website www.mgrpm.com and by our rental sign on your property.

    See Tenant page for overview of application process.

  • Owner distribution checks and monthly statements are mailed by the 3rd day after reciept of payment each month unless the tenant pays rent late or the property is vacant. Service bills are paid first. Electronic funds transfer into your account is available upon request.
  • Late fee for rental payment is $50.00 after 3rd day late and $10.00 per day thereafter until paid in full.
    Non-sufficient funds fee from tenant – 100% agent.

    MG Property Management asks for a $300 repair/service call approval without owner permission, except in case of emergencies. Over $300 we will call and discuss procedures.

    If the tenant fails to pay rent by midnight on the 15th, eviction procedures may begin. Cost is borne by the tenant. If tenant violates any lease terms, eviction can occur.

    Utilities can be placed in a landlord/management account until the unit is re-rented. Utility costs are borne by the owner until the unit is re-rented.

    All properties should be cleaned including carpets, blinds, windows and appliances. Everything should be in working order.

    Owners are encouraged to have their HVAC serviced in the fall and spring. Regular maintenance will prolong the life and efficiency of your unit.

    Owners are encouraged to have all gutters cleaned twice a year (minimum). Clogged gutters cause rain overflow and damage to the siding.

    Fireplace Chimneys (Woodburning) should be checked for Cleaning at least every two years in the fall to prevent a buildup fire hazard.

    Decks need a yearly inspection, as they are very expensive to replace. It is recommended that decks be power washed and sealed every two years to preserve them.

    Owner has the right not to renew a tenant’s lease when the lease terminates by giving a 30-day written notice to vacate. Otherwise, the lease continues on a month-to-month basis. The tenants are notified when the lease is due to expire and given an option of signing a Lease Renewal Form or continue on a month-to-month basis.

    Owner has the right to enter their property at any time with adequate notification to the tenant. This should be done through MG Property Management Residential Rentals.

    Owner has the right to prohibit pets, smoking and the number of occupants.

    Owners have the option to use their own repair/maintenance vendors and will need to supply names and phone numbers if they desire to do so.

    Plumbing repairs caused by the tenant, such as but not limited to clogged drains and toilets are the responsibility of the tenant.

    Washer/dryer/disposal repairs are the tenant’s responsibility, unless appliance needs to be replaced.

    Lawn maintenance is the responsibility of the tenant unless other arrangements are made.

    A termite and general pest contract is not required but highly recommended on all properties.

    Any warranties and/or service contracts for appliances or HVAC, etc should be provided to us at the time of signing the Management Agreement.

  • IT IS VERY IMPORTANT THAT AT THE TIME OF SIGNING THE MANAGEMENT AGREEMENT THAT YOU PROVIDE US THE NAME, ADDRESS AND PHONE NUMBER OF YOUR INSURANCE AGENT, ALONG WITH THE POLICY NUMBER. A COPY OF THE POLICY WOULD BE HELPFUL BUT NOT REQUIRED.

 

©2014-15, MG Property Management LLLP

MG REALTY
Metro Brokers Building
2009 Wadsworth Blvd. Suite 240
Lakewood, CO. 80214
Bonnie Emge Broker 303-981-5773

Mailing Address: PO Box 350632
Westminster, CO 80035

Residential Rentals, Property Management,
single family & executive homes, town homes, townhouses, condominiums, apartments
serving the Denver Colorado, Metropolitan Area

Bonnie Emge - Claudia Eaton

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Revised 1 - 4 - 2015