OWNER RESOURCES/OWNER FAQ’S
What makes Dwell Summit different from other long-term property managers in Breckenridge?
Dwell Summit is a boutique real estate company that takes a truly personalized approach to property management. By trusting the management of your Breckenridge rental home to a boutique brokerage like Dwell Summit, you’re gaining a small team of experts who know everything about your property: tenant information, accounting details, repair requests…you name it! When you call Dwell Summit, you’ll immediately connect with our Breckenridge-based team of locals who have been buying, selling, leasing, and managing properties in Breckenridge for more than 10 years. We know the Summit County market inside and out, and we’re committed to providing both our owners and our tenants with a superior level of service. Think of us as the Nordstrom of Breckenridge property management companies!
Why should I hire a property management company in Breckenridge instead of self-managing my rental property?
We get it—it’s hard to think about exchanging a bit of your profit margin for a full-service property manager. But there are so many reasons why doing so is actually to your advantage, both financially and otherwise!
First things first: Let’s talk about those unexpected midnight phone calls from tenants you probably don’t want to be dealing with! By enlisting Dwell Summit as your Breckenridge property management company, the burden of dealing with unexpected tenant concerns, repair issues, and maintenance needs shifts from your shoulders to ours. Sure, you could handle property marketing, credit screening, background checks and references, security deposit collection, and those aforementioned “emergency” phone calls on your own—but do you really want to? Managing all of these things (without anything falling through the cracks) requires time, and a lot of it.
As an independent landlord, you will also need to remain aware of and in compliance with federal, state, county, and town laws in order to avoid any penalties. It’s a big responsibility; one we take very seriously. Hiring Dwell Summit to act as your dedicated Breckenridge property manager ensures that you will enjoy the benefits of a successful investment without the associated stressors. We’re here to help you maximize your profit potential, and enjoy yourself while you’re at it!
How many years of property management experience do you have in Breckenridge?
Dwell Summit has been professionally managing and leasing rental homes in Breckenridge since 2008. Prior to that, Dwell Summit owner Tanya Delahoz and her husband, Dave, became Breckenridge real estate investors when they purchased their first rental home in 2003. They’ve bought and sold many other rentals since then, and the houses they currently own are managed through Dwell Summit’s system alongside our client properties.
What type of rental properties do you manage in Breckenridge?
Dwell Summit manages residential condos, townhomes, and single family homes in Breckenridge. Well-maintained homes attract high-quality renters—the types of tenants we always bring to our owners! If you own a quadplex, tiny home, mobile home, or a home in need of repair that you are unwilling to improve, we’re happy to refer you to another reputable property manager in Breckenridge.
I don’t currently own a rental property in Breckenridge, but I’m in the market for one. Can you help me find the right fit?
We would love to help you find the Breckenridge investment property best suited to your goals! Our Breckenridge real estate team conducts approximately 25 buying/selling transactions per year in addition to the 20-30 rental homes we manage on a long-term basis. Many of the current rental homes we manage were purchased through Dwell Summit. It’s a great idea to bring a property manager on board before purchasing an investment property—especially in a market like Breckenridge. Learn more about our buying services here, and don’t hesitate to contact us with any questions!
If I decide to sell my Breckenridge home instead of leasing it, can you act as my listing agent?
Absolutely! Dwell Summit is a full-service Breckenridge real estate brokerage with expertise in buying, selling, leasing, and property management. We would be happy to help you consider the respective merits of selling your home or leasing your home in Breckenridge based on both current market trends and your personal goals.
How would you describe your approach to property management in Breckenridge?
When you hire Dwell Summit to oversee your Breckenridge rental home, you’re enlisting a full-service manager; not an assistant or advisor. Our turn-key approach to property management allows you to remain blissfully unbothered by mundane issues and details that we can resolve on your behalf (are you picturing yourself on the beach with a piña colada yet?). We will not contact you with minutia, trivial check-ins, or insignificant updates. We will, however, always inform you about events or repairs that could significantly impact your monthly income. In general, if something has happened—or is about to happen—that will disrupt your regular monthly rental income by more than $500, we will inform you.
What if I want to be looped in more frequently than that?
We recognize that our property management approach might not be a match for every owner—and that’s okay! If you expect to be notified about insignificant details and day-to-day happenings related to your rental home, you should not hire Dwell Summit as your Breckenridge property manager. With that said, for new owners, we are willing to communicate more frequently than usual as we prepare your property for leasing and tackle initial maintenance issues. As you become more comfortable with our team and our management approach, we’ll transition into our regular level of communication. If you’re looking for a greater level of involvement on a more regular basis, we’re happy to refer you to another property manager who fits the bill!
How will you determine the rental fee for my Breckenridge home?
We ascertain rent value based on location, home size, and condition, and we always have our finger on the pulse of the local market. Each time your home comes up for rent, we conduct a market analysis to determine the rent value similar Breckenridge homes have recently garnered. Value may be added or subtracted based on the time of year your property is being leased, the presence—or absence—of special features (upgraded appliances, new fixtures and finishes, hot tub, etc), and other factors.
Typically, we encourage our clients to lease their Breckenridge rental properties at or slightly below market value to ensure timely occupancy. The cost of living in Breckenridge is notoriously high, but we do not believe that this gives property owners a free pass to increase rent beyond market value. In addition to being ethically opposed to price-gouging, we advise against unwarranted rent increase due to the risk of incurring vacancy loss.
How do you handle repair requests from tenants?
Our lease agreement stipulates that all non-emergency repair requests must be submitted in writing. We frequently discuss problems with tenants and attempt to troubleshoot over the phone before calling in a professional repair service. If our team determines that a problem warrants servicing, rest assured that we will send a vetted, trusted vendor to your home to resolve the issue. If the repair cost extends beyond the $500 cap established in our property management agreement, we will notify you before moving forward. While repair costs can be frustrating for a landlord, bear in mind that your ideal tenant will be looking for a fully-functioning home to call their own. Creating and maintaining this type of environment ultimately benefits you too, as a happy tenant is more likely to renew a lease!
Will you use my home warranty company, such as American Home Shield?
We have zero control over the vendors sent by home warranty companies such as American Home Shield, Blue Shield Warranty, and Xcel HomeSmart. For this reason, using a home warranty company for rental property repairs simply isn’t an option. The way repairs are handled has a direct impact on both the reputation of our company and your relationship with your tenant, which is why Dwell Summit exclusively hires vendors that we personally know and trust.
What are your fees for managing rental homes in Breckenridge?
Dwell Summit’s management fee is 10% of the monthly rent collected, with a $125 per month minimum. Our leasing commission is a half-month’s rent each time a new tenant is located, with a $1,250 minimum. We charge a $250 flat fee each time a lease is renewed for an existing tenant.
Do you charge on top of maintenance invoices?
No mark-ups or hidden fees here! You will be asked to reimburse Dwell Summit for the exact amount our vendors charge us.
What about an initial set-up fee, or any other fees?
We do not require a set-up fee. We do, however, pass along the invoice for professional photographs. We pride ourselves on our marketing, and presenting your property with high-quality professional photos is one part of that package. Professional property photos cost between $125-$250, depending on your home size and the number of images needed. We’ll send you the link to download the images, so you own them once our shoot is complete.
When will I receive my owner statement and payment?
We email property statements to owners by the 15th of each month. All monthly proceeds are initiated for electronic deposit directly into your bank account by the 15th of each month as well.
Will you allow tenants to have pets in our Breckenridge rental property?
We are happy to market your home as a “no pets” property if that is your wish. If you’re comfortable with having pets in your home, we allow for two animals maximum with a pet deposit of $500 to $750 per animal. Animals cannot exceed 35 pounds in weight, and certain breeds of dogs (such as Pit Bulls and Rottweilers) are prohibited in keeping with the stipulations of insurance providers.
While it’s possible that pets will cause damage that extends beyond what’s covered by the extra deposit, not accepting pets may turn away prospective renters in a pet-friendly area like Summit County (did you know we have more registered dogs than registered voters?). With that in mind, we believe it’s in your best interest as a Breckenridge landlord to maintain a negotiable pet policy.
Do you allow smoking in our Breckenridge rental home?
A “no smoking” provision is included on the lease agreement for every Breckenridge rental property managed by Dwell Summit. This includes all forms of cannabis.
How do you screen and qualify prospective renters, and what measures do you take to protect me as a landlord?
Prospective tenants are required to provide a minimum of two years of verifiable rental history/proof of home ownership, good credit, and verifiable income. In order to protect you as a landlord, we use an attorney-drafted residential lease agreement and undergo a complete attorney review every 12 months.
What happens if a tenant violates the lease agreement?
If a lease violation occurs, a notice will be given to the tenant as a first step. Correcting the violation is mandatory in order to avoid more serious consequences.
How does the process work once I hire Dwell Summit to manage my Breckenridge rental home?
After personally visiting your home to make sure it meets our requirements, we will send you a management agreement to get things going. If necessary, we will make recommendations about improvements that should be made or photographs that should be taken in order to market your property in the best possible light. We look forward to helping you maximize your return on your Breckenridge investment property!