Property Owners

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Property Owners

Property Owners

At TriStar Property Management, we understand that your rental property is more than just an investment – it’s a valuable asset that demands professional care and attention. Our comprehensive property management services are designed to maximize your returns while minimizing your stress in the Colorado Springs area.

Owner Investor Benefits

When you partner with TriStar, you’re choosing a relationship-focused property management company that prioritizes your success. Our full-service approach ensures your property receives the attention it deserves while providing you with peace of mind.

Property Owner Information

We take time to understand your unique investment goals and property needs. This personalized approach allows us to tailor our services to maximize your property’s potential while ensuring it remains well-maintained and professionally managed.

Property Management in Colorado Springs

With deep roots in the Colorado Springs market, we leverage our local expertise to optimize your rental income and attract high-quality residents. Our team stays current with market trends, local regulations, and best practices to protect and enhance your investment.

Property Management for Single Family Homes

We specialize in managing single-family homes, providing tailored solutions that ensure your property generates consistent income while being maintained to the highest standards. Our expertise in this specific market allows us to address the unique challenges and opportunities that come with single-family rental properties.

Property Management Benefits

Partner with TriStar Property Management to transform your rental property investment into a hands-off source of income. Our comprehensive management approach handles everything from resident screening to maintenance coordination, allowing you to enjoy the benefits of property ownership without the day-to-day responsibilities.

Rent Deposit Guarantee

Our Rent Deposit Guarantee program provides you with additional security and peace of mind for your investment. We understand the importance of stable rental income and protect your interests through careful resident screening and professional management practices.

Management Fee Guarantee

We believe in transparent pricing and exceptional service. Our management fees are structured to align with your success – we only get paid when you do. If your property is vacant, you won’t pay a management fee.

Leasing Fee Guarantee

Our leasing process is designed to find qualified residents quickly and efficiently. We handle everything from marketing and showing your property to thorough screening and lease signing.

Legal Compliance Guarantee

Stay compliant with all federal and state regulations while protecting your investment. We handle all legal aspects of property management, from lease agreements to fair housing compliance.

24/7 Homeowner’s Portal

Access real-time information about your property anytime, anywhere. Our secure online portal provides instant access to financial reports, maintenance records, and important documents.

Premier Applicant Screening

Our rigorous screening process helps ensure we place high-quality residents who will care for your property. We verify income, employment, rental history, and conduct thorough background checks.

Property Inspections

Regular property inspections protect your investment. We conduct thorough move-in, move-out, and periodic inspections to maintain your property’s condition and address maintenance needs proactively.

Vendor Network

Access our trusted network of local contractors and service providers. We’ve built strong relationships with reliable vendors to ensure quality maintenance and repairs at competitive prices.

Repair Surveys

We maintain high service standards through our repair survey system. After each maintenance event, we gather feedback to ensure quality work and resident satisfaction.

Property Management Colorado Springs Reviews

Get Your Free Rental Assessment

If you’re ready to find the perfect tenant for your rental property, contact TriStar Property Management today.  

Property Management Colorado Springs Reviews

Our Frequently Asked Questions (FAQ) section provides answers to common questions about our property management services. We encourage you to explore this section to learn more about how TriStar can help you achieve your investment goals.

Aren’t all Property Management Companies the same?

No. Property management companies in Colorado Springs generally fall into three distinct categories:

Discount Providers: These companies offer basic services at lower rates, but often leave property owners handling many crucial responsibilities themselves.

Collaborative Managers: These firms work with hands-on owners who want to remain actively involved in day-to-day property decisions and management.

Full-Service Partners: This is where TriStar shines. We provide comprehensive, professional management that handles every aspect of your property's care. Our approach delivers a truly hands-off experience while maximizing your investment's potential.

Property management in Colorado involves complex legal requirements and significant responsibilities. Your investment deserves the attention of experienced professionals who understand these complexities.

That's why we offer three different service plans allowing you to choose the level of support that best aligns with your investment goals while maintaining our high standards of professional care.

What do Property Management companies do?

Property management companies handle the day-to-day operations of rental properties on behalf of property owners. This can include a wide range of tasks, such as:

Finding and screening tenants: Conducting background checks, verifying income and employment, and selecting qualified renters.

Collecting rent: Processing rent payments, handling late payments, and issuing notices to tenants.

Maintaining the property: Coordinating repairs and maintenance, inspecting the property regularly, and addressing tenant maintenance requests.

Handling tenant relations: Communicating with tenants, resolving disputes, and enforcing lease agreements.

Financial management: Tracking rental income and expenses, preparing financial reports, and ensuring compliance with tax laws.

Marketing and advertising: Listing rental properties, showing units to prospective tenants, and managing online advertising.

By outsourcing these tasks to a property management company, property owners can save time, reduce stress, and increase their rental income.

What is the cost for Property Management?

Click here to view our fair and transparent pricing and services offered.

Is Property Management worth it?

Whether property management is "worth it" depends heavily on your individual circumstances and investment goals.


Pros:
Time Savings: Property managers handle the day-to-day tasks, freeing up your time for other pursuits.


Reduced Stress: Dealing with tenant issues, maintenance, and legal complexities can be stressful. A property manager acts as a buffer.


Increased Income Potential: Experienced managers can optimize rent prices, minimize vacancy periods, and find high-quality tenants, leading to higher returns.


Local Expertise: Property managers have in-depth knowledge of local rental markets, laws, and regulations.


Peace of Mind: Knowing your property is professionally managed can provide significant peace of mind.


Cons:
Management Fees: Property managers typically charge a percentage of rent as a management fee, which reduces your net income.


Loss of Control: You relinquish some control over your property to the management company.


Finding the Right Manager: Choosing a reliable and trustworthy property management company like TriStar is crucial.


Consider these factors:
Number of properties: If you own multiple properties, the benefits of professional management generally increase.


Your own time constraints: If you have a busy schedule or limited availability, property management can be invaluable.


Your investment goals: If maximizing income and minimizing stress are priorities, property management may be a worthwhile investment.


Ultimately, the decision of whether to hire a property manager is a personal one. Carefully weigh the pros and cons based on your specific situation and financial goals.

Do I have to pay a management fee if my property is vacant?

No. With TriStar Property Management we only get paid if you get paid. Our management fee comes from the rent we collect. If we do not collect any rent, or if the property is vacant, you don’t pay us anything.

How do you advertise my rental property?

Our extensive and proven marketing program attracts high-quality applicants from a variety of sources, including Zillow, MLS, Rental Beast, Facebook, and Instagram- just to name a few.

How long will it take to get my property rented?

Properties that show well and are priced appropriately should rent in 30-60 days or less, depending on current market conditions and time of year. We work to minimize any vacancy time by giving you price recommendations as well as weekly activity feedback.

How do you screen applicants?

In-depth applicant screening is the foundation of a good property management experience. Our in-house screening process utilizes technology and adherence to qualifying standards to ensure we place high-quality residents in our properties. TriStar complies with all federal and state laws governing applicant screening.

Can I be involved in the selection of a resident?

No. You can trust us to minimize the risk of placing a poor-quality resident. Our applicant screening process has processed thousands of applicants, and we know exactly what to look for in a high-quality resident. TriStar complies with all fair housing rules and regulations as well as Colorado applicant screening laws.

Do I have to accept pets in my rental?

Although you do not have to accept pets in your rental, over 70% of Colorado renters come with pets. If you choose not to accept pets, you will reduce your prospective inquiries by approximately 70%. We do recommend our owner-clients allow pets, and we also adhere to the new laws governing emotional support animals and service animals. Please keep in mind that Certified Emotional Support Animals (ESA’s) and Assistance Animals are not considered pets. Once appropriate paperwork is received and approved, we are required by law to accept and allow these animals in any property-even one listed as “no pets” and no fees or deposits of any kind will be charged.

Will TriStar Property Management manage my property if I already have residents in place?

Yes. We are very experienced in managing a property with a current renter in place. We often take over management in situations where a renter may be delinquent on rental payments, or the owners are having difficulty managing a current renter.

Does TriStar Property Management manage furnished or Short-term rentals?

We specialize in long-term, unfurnished rentals.

Do I have to accept ‘Section 8’ or subsidized housing in my rental?

Yes. Colorado state law includes ‘source of income’ as a protected status. This means landlords may not discriminate based on where applicants receive their income (including government subsidized programs).

Who provides the lease agreement?

We use an in-house, custom, attorney prepared lease agreement designed to be fair and provide maximum legal protection to all parties. We include state required radon disclosure,  a pet addendum, EPA required lead-based paint disclosures, mold disclosure, and crime free lease addendum. 

Do I need to sign the lease for a new resident?

No. As your legal agent, TriStar signs all of the legal documents on your behalf. *Please note that this will vary if you choose our ‘tenant placement only’ option. In this case, we give you the opportunity to use our lease, or your own lease if you prefer, and you will be the signer.

How do I access my financial reports?

Our owner-clients have access to a secure on-line portal which gives you 24/7 access to financial reporting.

How do I get my money each month?

We close out the monthly accounting cycle and do a direct deposit of your funds on or around the 12th day of each month.

How are Property management fees calculated?

Check out our pricing sheet to see how fees are calculated.

Do you inspect my rental property?

We perform an annual mid-lease property inspection (included in your management fee). The purpose of this inspection is to ensure the property is being well cared for, there are no lease violations, and to look for potential deferred maintenance issues before they become a problem. We also perform a drive by inspection every 3 months and report back on the condition of the outside of your home.

How updated does my property need to be in order to rent it?

The quality of a property is equal to the quality of the residents it will attract. With this in mind, make sure your property is updated and CLEAN!  We need your help to ensure your property meets the state habitability requirement and attracts high quality applicants. Click here for details on our rent ready standards.

Who takes care of maintenance?

TriStar handles all repair requests, even the middle of the night emergencies. We use pre-screened, high-quality vendors so you don’t have to worry about the quality of the maintenance being done on your properties.

Is there a maintenance or escrow reserve I need to pay?

Yes. When we take on your property we collect a $500 escrow reserve from you. This money is still YOUR money, and will be deposited into our bank trust account as the escrow reserve for your property. We will potentially use these funds to pay for expenses that may arise between the time we send you your rental income, and the time we collect the rent from the resident the following month. We will always maintain this reserve as long as we manage your property. When we stop managing your property The escrow reserve money will be returned to you.

What does the security deposit return process entail?

When a resident moves out, we will do a property inspection, and we will complete the security deposit return process. We will withhold any funds from the security deposit that are legally due and allowable. Colorado state law is very clear on what things may not be charged to a resident’s security deposit and all security deposit returns are completed to comply with state law.

Who holds the security deposit?

TriStar property management holds all resident security deposits in our security deposit trust account. We operate this way to comply with State of Colorado security deposit and trust accounting rules and regulations as determined by the Colorado Real Estate Commission.

How is the amount of the security deposit determined for my rental property?

Many aspects of the applicant screen process is regulated by Colorado law, including security deposits limits. Our security deposits have been structured to provide maximum protection to the owner, without causing undue financial burden to a qualified applicant.

Can I do my own property repairs or use my own vendors?

While a property is vacant, you are welcome to do whatever make-ready work you would like to do on your property. When a resident is living in the property, we do need to screen who is accessing the property for the protection of the residents. This is why we use our pre-screened and pre-approved vendors. If you have a favorite vendor, please give us their contact information – we are always looking to add new high-quality vendors to our group!

Is TriStar Property Management the best option for every real estate investor?

No. TriStar is a relationship-based property management business We work exclusively with owner-clients who are looking for a full-service property management experience. Our clients believe in providing well-maintained properties, rejecting the idea of a landlord vs tenant mentality. Instead, we maintain that when property management is performed with integrity, both the resident and the landlord benefit.

Can I negotiate or change the terms of the management agreement?

No. Our property management agreement is designed with maximum flexibility for our owner-clients. It is also designed to allow us to serve our owner-clients with a consistent, high-quality, full-service management experience every time.

Can I get some owner/client references?

Any company can find someone to say something nice about them. A couple of the best ways to research a company are to review the BBB complaints the company has received, (TriStar has had zero) as well as Google reviews.

What local and federal laws do I need to be aware of before I rent out my house?

There are multiple laws governing rental real estate including federal and state fair housing, habitability laws, tenant rights laws, applicant screening, rent-ready standards, and more. TriStar ensures your property, and the management experience fully complies with all rules, regulations, and laws.

Does the CARES act apply to my property?

In June 2023 the Colorado Supreme Court ruled that even though the CARES act has expired, the notice provision of the CARES act still applies in Colorado. Contact us for more information and to find out if the CARES act applies to your property.

Does a Property manager need to be licensed in Colorado?

Any company that offers any type of Property Management service must be licensed in Colorado.

Below are some of the license requirements that must be fulfilled to be granted a real estate or property management license in the state of Colorado. While most Property Management companies meet these requirements, many individual property managers do not. It is best to always ask your property manager if they are personally and individually licensed to practice Property Management in Colorado.

• 168 hours of education

• Pass a comprehensive exam

• Full personal background check

• Insurance requirements

Property Managers are personally licensed and fully trained to practice property management in Colorado.