Owner Frequently Asked Questions

Questions about the company+

What are your office hours?
Our office is open from 8:00am to 5:00pm, Monday – Friday. After hours and weekends are available by special appt. 

Where are you located?
120 W Park Drive, Ste. 201, Grand Junction, CO 81505 (Corner Square – Corner of 1st & Patterson) 

Questions about the service +

Am I required to make my property available to Section 8?
No. Tenants involved with Section 8 are not a protected class. However, Section 8 tenants have certain guidelines to follow and inspections are made to verify they are following rules of the program. The funds are guaranteed as long as they and the owner meet the requirements as outlined by the program. If the guidelines are met consistently the funds are provided consistently. Section 8 funding can be dropped and the tenants rent go unpaid. Generally, a 30 day termination notice is received prior to funding being cancelled. 

Are you licensed?
Yes. Maxim 4000, LLC is a licensed entity in the State of Colorado and two representatives are licensed brokers and meet the educational criteria as mandated by the State of Colorado as well as continuing education in the field to provide the highest level of service.

Can I reach you after hours?

Yes. Maxim 4000 has an after hours service that begins answering inbound phone calls after 5 p.m. Mon.- Fri. and all day during weekends and holidays. In cases of emergency the property manager can be contacted by the after hours service 24/7. 

Can I reach you via the internet?
Yes. You can reach us via email at info@maxim4000.com or through our website at www.maxim4000.com

Can you put the money directly into my account?
Yes. With the completed authorizations we can deposit funds directly into your account via our online ACH. 

Do I get to see the lease or sign it?
We sign the lease on behalf of the owner as the designated Agent. All notices and communication go through Maxim 4000, LLC. 

Do you pay all the bills?
We will make any bill payments for the property (paid for by the property owner) as long as we have the funds to do so. Utilities, HOA payments, Mortgages, etc. can be set up to be paid through Maxim 4000. Third party agreements are set up between the billing company and us to have the bill sent to the owner care of Maxim 4000 at our mailing address. Automatic turn ons are also set up to have the utilities automatically revert to the owners name c/o Maxim 4000 during periods of vacancy. 

Do you sell real estate to?
Maxim 4000, LLC is a licensed brokerage in the state of Colorado and our focus is Property Management. We have a strong relationship with RE/MAX 4000, Inc and accept referrals from all real estate agents and can refer out business to real estate agents as well to make sure your property is taken care of in the best possible way whether you are looking to buy, sell, or rent. 

Do you work with Section 8?

How and when do I get my checks?
Reports and net rent proceeds are sent out no later than the 15th day of the month following the month of rent. Rent proceeds may be sent either by paper check or by direct deposit into an account designated by the Owner through our online ACH system with Vectra Bank.

How do I terminate my current manager?
Please refer to your management agreement with your current manager. 

How is rent collection handled?
There are multiple options for our tenants to make their rental payments.  Payments can be made online with a checking account or credit card, in person at any of the local Vectra Bank locations, having their accounts drafted through our online ACH system, mailing their check to either Vectra Bank location or coming in to the Maxim 4000 office to pay. We do not go to their home to collect rent. Late payments are not tolerated as there is no excuse.

How long of a lease do you sign?
Depending on the Owner’s situation, HOA covenants and the tenant, the lease term is negotiable. Unless requested otherwise, a lease is signed through July 31st of the following year or a one year lease is our goal. 

How much security deposit do you charge the tenant?
The minimum security deposit shall be equal to one months rent. 

How soon can you start managing my property?
If you are not currently involved with a licensed management firm we can start immediately. Please call our office and we can mail, fax or email the entire package including a management agreement. If you have a manager currently you will need to discontinue their services, according to your agreement with them, before we would be able to become involved and manage the property for you. 

It doesn’t look like your rent projections will be enough to cover my expenses, what do we do?
We set the rent price, but the market dictates it. We show you what the market is paying for your type and size of property. You can ask any price you want, but you need to keep in mind your average tenant doesn’t really care what you need, how much you paid for the property, or what your mortgage payment is. A tenant is looking for the best property, at the best price, and what meets their needs and budget. Like anything else, if a tenant can get the same thing cheaper around the corner, then that’s where they’ll go. Our goal is to get the most rent that the market will allow. 

What is Section 8?
HUD (Housing and Urban Development) is a Federal Agency centering its efforts on housing and development. One function that comes under Section 8, and is designed to help families or individuals with their housing needs. Depending on a person’s situation and requirements, HUD may pay a portion or all of a qualified tenant’s rent. A tenant must have applied for housing assistance with a local office, and be approved, before they can receive assistance. 

What is the term of the management agreement?
Management agreements are signed for 12 month terms that automatically renew annually. 

What services do you provide?
We do everything required to maintain the property and provide you with the greatest return on your investment. We offer a Full Service Management or Tenant Placement Only. 

What sort of marketing do you do?
We market your property through many avenues. We utilize our website (www.maxim4000.com), as well as numerous other websites (www.rentals.com, www.zillow.com, www.trulia.com ). We advertise in the The Almost Home Guide, with yard signs, availability lists, phone books, craigslist and other targeted periodicals to maximize the exposure of the property. 

What type of properties do you manage?
Residential, Multi-Family and Single Family Homes. 

What type of reports do I get and how often?
An Owner’s Statement is provided once a month that includes a cash flow, receivable summary, and any invoices for the expenses incurred by the property in the given report month. Reports are mailed out no later than the 15th day of the month following the month of rent. 

Who holds the tenant security deposit?
Maxim 4000, LLC shall collect security deposits in connection with the rental of the property in amounts consistent with good professional practice and maintain such deposits in an institution qualified to engage in the banking or escrow business in the state of Colorado.

Questions about the fees +

Do you give a price break for owners with multiple properties?
No. As much as we would like to offer discounts, the amount of work doesn’t get reduced with more properties. The care required is equally important for all the properties. 

What do you charge when the property is vacant?
In lieu of charging a leasing fee and because we work the hardest during vacancy on your rental we charge a nominal fee of $50.00 per month during periods of vacancy.

What does all this cost?
Our monthly management fee is $50.00 monthly per unit or 10% of the total monthly gross receipt from the property, whichever is greater. 

What expenses will I initially incur when choosing you?
There is a one time start-up fee of $150.00, and a $300 reserve fund fee used to pay expenses on your behalf until the property begins generating income. If we are to pay additional expenses ie. mortgage payments, we may also request an amount equal to the given expense to make sure funds are available to cover those expenses. 

What is your leasing fee?
Currently, we do not charge leasing fees in addition to management fees on our full service managed residential units. 

Who pays for advertising?
As the owner of property you are responsible for all expenses associated with your investment property, including all advertising expenses. 

Who pays for repairs?
As the owner of the property, you pay for repairs, unless it is damage caused by tenant’s neglect or mistreatment, then the tenant is responsible for payment. You as the owner pay for it in advance and then we go after the tenant for payment reimbursement. Our vendors are trained in identifying tenant caused problems and note responsibility of tenant on work orders when turned in. 

Questions about the property +

Do I have a choice in who lives in my property?
Maxim 4000 will make the final decision on the tenant based on our screening/approval process. Maxim 4000 does not discriminate based on race, creed, color, religion, national origin, ancestry, sex, marital status, handicap, or familial status and shall be in accordance with all local and federal Fair Housing and Equal Opportunity housing laws and regulations. 

How is maintenance handled?
Non-emergency maintenance requests are emailed into the office though the www.maxim4000.com website. At the time the work order is requested we enter the request in our repair log and contact the appropriate vendor for the repair. Emergencies are responded to immediately. Should an issue occur after hours during weekdays or on weekends Maxim 4000 has an after hours service that receives inbound phone calls that can dispatch the appropriate vendor depending upon the situation or reach a representative of Maxim 4000 in case of emergencies. Tenants are made aware at the time the lease is signed that should they be responsible for the damage they will be charged for the repair cost.

How long will it take to rent my property and what will it rent for?
The market dictates how long it will take to rent a particular property. Many factors influence demand, the biggest factor being price. Price comparisons and exposure influence the activity a property generates. The more exposure a property has at a competitive price, the sooner a property will rent. 

How often do you inspect the property?
Interior evaluations are scheduled once a year. Drive-by inspections are performed routinely and can generate red flags for additional interior evaluations. In addition to our evaluations, move-in and move-out walk thru are completed in detail with copies provided for the file. 

Should I rent furnished or unfurnished?
This is a matter of choice. Furnished rentals may attract a different prospective tenant than that of a unfurnished property. Renting a property furnished may present a higher risk to the Owner of personal property items being lost, damaged or stolen. A detailed inventory list of all personal property items left in the property is suggested should it be the decision of the Owner to rent out a furnished property. Maxim 4000, LLC shall not be held responsible for any lost, stolen or damaged personal property of the Owner. 

What do I need to do to my property before I can rent it?
We recommend that your unit be professionally cleaned throughout as well as, inside, under and around all appliances. Windows should be clean, carpets should be professionally cleaned and all personal property should be removed from the property unless it is to be marketed as a furnished unit. We also recommend neutral colors that can be easily touched up or repainted between tenants. The unit should also be odor free or at most lightly scented. The cleaner a property is and free from damages/defects the better. 

What kind of insurance do I need?
We suggest you speak to your insurance agent about coverage for rental property. This will ensure the appropriate coverage is in place while the property is being rented. Your insurance company should have all this information. 

Who does your repairs?
We use experienced independent third party vendors that are licensed and insured when required. 

Questions about the tenants +

Can I do my own repairs?
We would prefer that a licensed, insured and/or bonded vendor provide these services. Part of the reason Maxim 4000 is in place is to coordinate the repairs and relieve the owner from having to do so. 

Can you just get me a tenant and I’ll manage the property myself?
 Yes. We offer a tenant placement only service for one half of one months rent.

Do you check on the tenants and the property?
We have periodic evaluations and drive bys at which time we check to see that the tenants are taking good care of the property and that they are not in violation of any lease terms. We also use the opportunity to note maintenance needs.

Do you guarantee tenancy?
No, unfortunately we cannot guarantee tenancy. No matter how well we may screen a tenant they may look great on paper and not live in a property as expected. Every property owner is taking a risk in renting out their property. We do our best to screen a prospective tenant as thoroughly as possible and try to minimize that risk. Should we have to evict a tenant within the term of their lease we will take the necessary action to minimize both financial and physical damages. 

How do I get money that is owed after a tenant leaves?
When a tenant vacates a property and has an outstanding balance after the security deposit accounting is done, we may go through the courts for a judgment on the amount owed and/or send them to collections. If we have a co-signor involved in the agreement we may do the same to the co-signor as they are equally responsible for rent, damages, and lease violations.

How do you decide what type of maintenance person to send for a repair?
The vendors that are used are skilled in their area of expertise. Depending upon the maintenance issue at hand and its level of urgency a vendor is chosen and sent out to the property to address the issue. 

How do you screen prospective tenants?
Applications are processed based on screening criteria including income to rent ratio, credit score, employment verification, landlord references and criminal background prior to making a decision on approval, denial, required cosigners or additional security deposits. Maxim 4000 does not discriminate based on race, creed, color, religion, national origin, ancestry, sex, marital status, handicap, or familial status and shall be in accordance with all local and federal Fair Housing and Equal Opportunity housing laws and regulations. 

What about utilities?
Responsibility of payment of all utilities is determined by the Owner and Maxim 4000 in the management agreement and agreed to with the tenant in the leasing agreement. 

What are your feelings about pets and smokers?
This is a personal preference. Some owners are open to pets and not to smokers, and vice versa. We will manage the property within the parameters you have requested of us and put in the management agreement. Often times the criteria determines either widens or narrows the prospective tenant pool. Additional security deposits may offset the risk in allowing or not allowing pets or smokers in the property. 

What happens when the tenants are late with the rent?
Rent is due on the first day of the month and by the 4th day considered late. Late fees are imposed on late payments. After the 4th of the month if we have not heard from the tenant and have not received payment arrangements, a three day demand for payment is served. If the tenant has not made payment, made payment arrangements or moved out within the three day period then we proceed with eviction process. 

What if the tenant breaks the lease?
Tenant’s who break their lease or do not fulfill their obligations of the lease are responsible for all costs associated with the default determined in the lease. Based on how the lease reads, tenant may be responsible for payment of termination fees, releasing fees, advertising fees and any other miscellaneous charges associated with the breach of the contract. 

What if the tenants have an emergency while you are closed
Night Tenders service begins receiving inbound phone calls after 5 p.m. on weekdays and on weekends. The after hours service is instructed to evaluate the situation and dispatch the appropriate vendor or get in contact with a Maxim 4000 representative in cases of emergency. 

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MAXIM 4000
120 W Park Drive, Suite 201
Grand Junction, Colorado 81505

[P] 970.683.2595
[F] 970.241.1163

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