Q: What types of properties does Pink Realty manage?
A: Pink Realty manages any type of residential property including single-family homes, townhomes, condos, multi-plexes, and multi-family units.
Q: What services does Pink Realty provide?
A: Pink Realty is one of the few full-service Real Estate companies that has a property management division. We have many homes for sale and generate thousands of leads per month. Many of the leads we generate for purchasing a home cannot qualify to buy a house at the moment. We convert these leads to tenants to fill our properties faster and more efficiently than the competition. Almost all of our competitors are traditional real estate property management companies that only focus on property management. Because we are a small family owned business you get the benefit of 100% of our focus . . . every single day!
We provide elaborate marketing campaigns to get your property maximum rental exposure. In addition, we run nationwide criminal and credit background checks as well as income/employment verification on every prospective tenant to make sure we are finding you a qualified renter. Beyond that, we sign the lease with the tenant, enforce the lease, collect rents, rapidly disburse rental proceeds to our owners via electronic transfer or check, and aggressively chase down rent when tenants don’t pay on time. We also inspect your property multiple times annually on an interior and exterior basis to ensure the property is being properly taken care of by the tenants. In addition, we have in-house maintenance solutions to address any maintenance issues that may arise and we are the only company that also allows our owners to coordinate their own maintenance if they choose. Lastly, in the unlikely event of an eviction, we have an eviction attorney that we work with to make the process very efficient.
Q: What does Pink Realty charge for these services?
A: Pink Realty has the most simplistic and cost-effective fee structure in the marketplace. For multi-plexes and multi-family units, please contact us so we can provide you a custom quote. For all other single-family homes, townhomes, and condos, we have a low, one-time setup fee, which covers all of your advertising until we find this initial tenant for you. This fee is $497. Secondly, our monthly management fee to manage your property 24x7x365 is a small percentage of the gross rents collected. The monthly fee is 10% of the rent with a minimum of $100 per month. We don’t collect a monthly fee if the house is vacant.
Q: Who determines rent for my property?
A: Ultimately, the market determines the rental amount for your property and it is our job to provide you with good, reliable market information regarding market rent rates. As such, we will always recommend market pricing to you but we allow our clients to choose the price point.
Q: How long will it take to rent my property?
A: For all of our properties that are market-ready and priced at market rates, our average days on market is approximately 10 days. For homes that are not in market-ready condition and/or or priced at above-market conditions, then it can take considerably longer to rent. Since Colorado Springs has a good rental market with strong rents and having 5 military bases, our homes rent extremely fast. Also if we have a tenant that is moving out, we require that tenant to show the property to prospective tenants so we can have a new tenant move in the next day. Most of our properties have zero days of vacancy because of our efficient system.
Q: Who pays for any maintenance that needs to be done on my property?
A: Unless the tenant is responsible for damage or is negligent with regards to property maintenance, then owners bear the financial responsibility of paying for repairs. We do hold a maintenance reserve for the property for $250. We use this money to do maintenance on the property. If money is taken from the account to do maintenance, then the following month we will replenish the account.
Q: Why should I choose Pink Realty to manage my property/properties?
A: If you are looking for the best value in residential property management, you have found it! With a service offering that is as comprehensive as any in the market combined with the most cost-effective solution you will find anywhere, moving forward with Pink Realty is a decision you, and your checkbook, will thank you for!