XTROV - Extraordinary Real Estate & Property Management


Key to Real Estate - Buy, Sell, Rent, Invest + Property Management

Blog

Problems, then Pot? OR ??? Pot, then Problems.

Posted on October 13, 2016 at 12:05 AM Comments comments (1)

As a property manager, my experience shows me that Pot often Leads to Problems. In the two evictions we have had to do so far this year– pot and other drugs were present. And, not a little bit of drugs. A lot of pot in one case and some pot and strong indications of meth in the other.

Is it also possible that normal people first have problems with their rental obligations and secondly, just happen to smoke pot and do drugs? Yes, perhaps. However, it is becoming increasingly clear, if there are heavy drugs involved it is highly likely there will be downstream problems.

Our laws in Colorado make certain types of pot use okay. XTROV’s lease and drug free addendum, makes any kind of involvement with drugs – growing, manufacturing, using, selling, a Lease Breach.

It is so disheartening to find someone’s home damaged by another who has demonstrated no regard for anyone else’s property, time or money and who seems to care only about themselves and their drug habits.

Coloradoans are not getting what we expected when we voted in the legalization of pot. I hoped that it would cut out the black market and the criminal element and let “Uncle Harry” grow some pot in his backyard for his own use without facing Felony charges. It did not turn out that way. People now see so much “easy money” in selling pot, that a whole new host of problems have been created on top of the problems of the past.

Real estate is booming in Colorado’s metro areas and legalized pot is one of the reasons. Growth is great, but what is the Pot Culture turning into? Crime, disregard and a lot of property damage are sadly a reality of legalized pot.

I still support the idea of “Uncle Harry” staying out of jail for growing a plant or two and allowing legal access to anyone for whom pot use truly eases the pain of injury or disease. It is not these types of people who cause the problems. The problems come from the people who have lost touch with what are basic standards for professional or personal courtesy to others due to drug use.

If you are a Tenant, ask your property manager about the drug rules in their leases. Make sure you are clear on what is okay and what is not. Owners are held accountable to provide clean and safe places for tenants’ to call home. Tenants’ in turn are accountable to maintain a property and pay for the privilege of occupancy, normal wear and tear allowed. It is a pretty simple exchange when all parties do their part.

Sadly, there are a lot of disconnects in the process. What you can count on, is that the property management team at XTROV works every day to make the rental process fair and safe for all our clients – tenants and property owners alike.

 

What Property Managers do on Holidays...

Posted on January 8, 2016 at 5:40 PM Comments comments (1)

It was Thanksgiving 2015.   The rolls were being rolled out and then, the phone rings. Betty, XTROV's Leasing Director, had just received The Call from one of our residents that a significant amount of water was coming in from the ceiling. This was in an upstairs unit so both that unit and the one below would soon be in serious trouble.  The XTROV Team sprang into action.   The picture below shows Art - maintenance manager, on the phone to both Betty at the scene and to our wonderful plumber, Brent from Corky's Plumbing, to give both sides the most current information.  Both Betty and Mike had arrived on the scene in minutes and keeping cool heads figured out how to get the water shut off.  Remember, this was Thanksgiving.   We attribute the excellent response we receive in times of need, from people like Brent, from years of working together and the mutual respect earned.   That is an invaluable intangible that XTROV is able to provide our clients.  It turns out that the hot water boiler had malfunctioned.   We were able to get the unit repaired enough to keep the units warm until a full repair could be completed on the next business day.  The water damage was mitigated and both tenants, above and below, were able to stay in their units and enjoy the rest of their Holiday.  What could have been a disaster was averted with relatively little damage.   The owners of this unit were on vacation and would have had no way to deal with the situation long distance.  This was not the first and it will not be the last Holiday where the XTROV Team will take care of owners and tenants, changing an emergency into a manageable event.


XTROV REALTY on RODEO PARADE DAY

Posted on June 13, 2015 at 4:50 PM Comments comments (0)
Art, Vonnie and Ronnie Readying the display.  See below Mike and Betty and Ronnie and Vonnie.   Great people who also just happen to bring realty and property management services to Montezuma and Dolores counties in SW CO!


When Did YOUR Prop Mgr Study C-27 and Why does it Matter?!?

Posted on April 20, 2015 at 10:40 AM Comments comments (0)

C-27 is the Real Estate Commission's (the real estate commission is part of DORA -CO Department of Regulatory Affairs) Position Statement regarding the requirements for all licensed property managers.  To manage other people's properties - you MUST be a licensed Colorado real estate agent at a minimum.  In XTROV's case, I am a REALTOR - which means I also belong to the local and national Boards of Realty.  As an aside,  if a non-licensed person is managing your property you and he/she could be in for some trouble from the Attorney General's office.   At minimum a Cease and Desist letter would be issued and more seriously a law suit brought on by some disgruntled person could land you both in time consuming and costly legal actions that will more than likely not result in a happy outcome for those people involved in practicing real estate without a license. 

If the Commission ever comes calling to your property manager's office, it is extremely important that the property manager 1) knows what the requirements are for licensed activity and 2) is abiding by them.   This matters to you as the owner of rental property because if your property manager is shut down for a day or forever - what is going to happen to your rental in the meantime???

In addition to being part of the Boards of Realty, we are the only property management company in SW Colorado who belongs to NARPM - the National Association of Residentlal Property Managers.  We belong in order to have access to the best education on property management that is available so that we can pass the benefit of what we learn along to our clients.

Last week, Katherine attended a continuing education course offered in Grand Junction on C-27.   It is the ONLY approved continuing education course on Property Management and it is offered once a year.   It was encouraging to know that XTROV is doing well in terms of compliance, but there is always room for improvement.

Based on what was learned, our lease has already been updated and our agreement with our owners will be updated next.   In any profession, there is no way to know everything, but it is mandatory - at least in our minds, to upgrade our knowledge and our skills both through learning day to day by doing and as often as possible through formal education.

If you are not with XTROV property management, you might ask your property manager about C-27 and how they are insuring their compliance with the lengthly list of requirements contained therein.   


Insight on XTROV's USP - Unique Selling Proposition

Posted on April 3, 2015 at 12:15 AM Comments comments (0)

Boutique is Better than Big.  

Marketing 101 - define your unique selling proposition.   In thinking about the business today, the above phrase came to me as another way to highlight what makes us stand out in the marketplace.

XTROV Realty has always had a clear picture of who we are and what we offer - the concept that we strive to offer eXTRaOrdinaryValue to our clients and that this mission is embedded in our name XTROV.  But, there's more......

Why is Boutique Better than Big?    At XTROV we work on a team concept vs a bullpen concept that most other real estate firms are structured under.   I started my career at a well known, well respected, national franchise.   The place was full of competent REALTORS - nice people.  Each one was doing his or her own thing.  All creating the wheel.  They had the national logo under which to fly - but real estate effectiveness is not about company name.   It is about who is across the table, or on the phone or the email helping you get your real estate transaction done to your satisfaction and hopefully, with some enjoyment too.

Our mix of service is not offered.by anyone else in the market place.    We provide Property Management; Rentals; Repair, Maintenance and Remodeling; and Buy and Sell.  

Our services complement one another.  Many of our clients use more than one service and that is why Boutique is Better than Big.   We can fully meet people's real estate needs.  

For example,

 

  • Tenants often become Buyers,
  • Landlords ask us sell their current properties and/or help buy new ones, 
  • Landlords have us fix up their rentals to maximize the return or fix existing problems  - anything from a full remodel to a smaller spruce up.  
  • Sellers have us rent their homes while on the market For Sale 
  • Sellers often need a place to rent after their home sells.
  • Buyers need a place to rent until their new property closes or they have us property manage their investment(s).

 

Having been a real estate office for 18 months, we are currently a team of six.  We all work together for the common good.  We are open six days a week to serve you.  

When you call XTROV, the team consists of a Leasing Director, a Real Estate Services Coordinator, two full time maintenance and construction men, and two REALTORS.  We all help each other, so we are not just lone, competent people doing their own things.   We offer competence, plus synergy of effort.     When you call XTROV, we want to show you first hand why we believe, "Boutique is Better than Big!"

Member of National Association of Property Managers - NARPM

Posted on March 2, 2015 at 4:05 PM Comments comments (0)
XTROV is the ONLY property management company in Montezuma or La Plata counties to belong to the industry's professional association. We think it is a MUST to be involved at the professional level of our industry.   The higher ethical standards we are required to adhere to as a member, plus the continuing education and our professional network all contribute to make XTROV stand out from the others.

Reason # 5 - Our Lease

Posted on September 3, 2014 at 12:40 AM Comments comments (0)

A Lease is a legal and binding document - therefore very important.  

We have been improving and updating our Leases for over three years, and that process will continue regularly.   As we learn something new, from an experience we have or a conference we attend or advice from legal - we make the improvement; fine tune the wording, clarify a point.  

We have a Drug Free Crime Free Addendum, a Propane Addendum and clauses about hot tubs, swimming pools, lawn mowers, pets and many other things that need to be addressed upfront with all involved.  Our goal is to provide a safe and happy place for people to live and to take care of our landlords' properties so they hold their value and provide income for the owners with as little worry as possible.

Last week, we customized a Lease for a Landlord and Tenant due to the nature of the needs of both parties.  A two year lease for an upscale property required a few additions to the standard lease.   We were able to accomodate both parties through the Lease process.    

Leases matter and XTROV works hard to make our proprietary lease(s) work for our customers.

Reason # 4 - Great Relations with Vendors

Posted on August 25, 2014 at 3:45 PM Comments comments (0)

Appliances are always a part of the day-to day-business in property management.   Today, so far, we have had dealings with a refrigerator and a washing machine.

Which brings me to this Reason.   We have to get the appliances serviced or repaired in a timely and cost effective manner.  Over the years, we have built a great working relationship with the people who fix and provide appliances in our area at a relatively low cost.  We know that when we call or show up with a washer in the back of the truck, they are going to do their very best to 1) help us quickly and 2) give us the best deal they can.

This is valuable to our landlords and to our tenants.   We know who to call.  They work with us to get the job done and often, they go out of their way to do something above and beyond - throwing in a cord here, knocking a few dollars of the price there, or finding a way to work a delivery into their already full schedule.

The washing machine issue was a bear.  The machine was an odd sized, older front loader.  It had been badly abused by a tenant prior to us managing the account. Togther with the vendor, we had gotten it up and running for several years before it finally quit for good.  The vendor found another one that would fit the small space and had it ready for our team to pick up.

From there the kudos go to Art and Mike who then hauled the machine above Mancos, carried it up a skinny flight of stairs to put it in the upstairs closet that it would be calling home for the rest of its washing machine life.

Imagine you were the out of state owner getting a call from the tenant in the mountains by Mancos saying the washer would not work and that she wanted to wash her clothes NOW.    That would be a pickle, unless of course, you had XTROV as your property managment problem solving company.


Reason # 3 - Move In and Move Out Walk Throughs

Posted on August 25, 2014 at 3:05 PM Comments comments (1)

Do you have an on-site walk through with your property manager's representative with each tenant move in and move out at the property?    If XTROV is your property manager, you will.

A qualified property management staff member - typically the Director of Leasing - walks through the property with the Tenant at move in time.  We use our Move In Inventory and Condition Check List to note the status of the property.   The Tenant is there and they sign off on the Check LIst.  If there are any complaints or concerns - we find them out right then and there so they can be rectified in a timely manner.   Staying on top of these thing tells the tenants that we care about them and the property and expect the same courtesy in return.

At move out, we reverse the process.  Using the same sheet, we go through and note any conditions that would exceed normal wear and tear usage.   It takes the debate out of deposit issues.   It also speeds the return to "ready to rent" status as we know as soon as the property is vacant what work needs to be done.  It makes the tenant feel comfortable that there will be no unexpected surprises.

Going to the property takes effort.  We cover rentals from Dove Creek to Mancos.  However, we have found it to be the best pro-active way to keep on top of the move in / out process and worth the effort involved.  

Reason # 2 - In House, Full-Time Property Care Team

Posted on August 25, 2014 at 11:45 AM Comments comments (0)

We are the only property management company serving Montezuma and Dolores counties who employ a full-time TEAM of property management pros, in addition to the Broker/Property Manager.  We don't think it is a job that should be handled by one full time person and subs who are called in for problems.

We have a full time Leasing Director and two, full-time Property Care Specialists - with years of specific property management and construction experience.    Our work is done by people who are committed to the long term happiness of the tenant and landlord versus a handyman or tradesperson who is called now and then to solve a particular problem.  

We do call in specialized trades people - namely plumbers and electricians when the problem requires a licensed person to do the work.  However, we have been working with these folks for years.  They know us and we know them.   Even though they are not on the XTROV payroll, we still work as a Team due to the many jobs we have worked together.

The longer we manage a property, the more valuable our service becomes.  Why you might ask?  Because we get to know the property so well that we are able to solve the problems that much faster which saves the owner money and encourages the tenant to take good care of the rental - as they know that we will do the same.



googleb75301bbcf0ade2d.html