Owner Frequently Asked Questions (FAQ)

For many, this may be the first time you need to or have considered hiring a Property Manager. We understand this. The information below is provided to help you understand how we do business and how we serve you.

  • 1. When Do I Receive My Monthly Proceeds And Statement?

    As an owner, expect to receive your proceeds electronically in your bank account of choice by the 10th of every month, barring a bank holiday.. Variables will be (1) when your tenant pays the rent, and (2) how long your bank takes to process and post the deposit to your account. Want to sleep better at nite? Recommend having at least one month's mortgage payment in reserve. We understand and are sensitive to the fact that it is important that you receive your proceeds as soon as possible.

    You will receive a monthly statement. Expect to receive your monthly statement by the 15th of each month. When your monthly statement is ready, you will be notified by email.

    Additionally, the Internal Revenue Service (IRS) requires we provide you with an annual 1099 documenting the amount of rent we have collected for your rental home. Expect to receive your 1099 in the mail on or before February 1st. Perhaps in future years we will be able to electronically email your 1099, but for now, we are required to mail owners their 1099 via the US Postal System. We do electronically file identical copies of those owner 1099's with the IRS as required by law.

  • 2. How Does Stars & Stripes Homes DTC, Inc. Market My Home?

    The marketing of your rental home can include:

    INTERNET

    (A) Internet advertising. We use a "Network Of Sites" technology to advertise your home on the internet. We advertise your home on an extensive network that includes but is not limited to: to: www.Zillow.com, www.Trulia.com, www.HotPads.com, www.FreeRentalSite.com,  and our main website www.sshdtc.com/.     

    Advertising your home is not limited to these websites. Many of the sites above actually feed into other sites displaying information on available Rentals. A good example is www.USAA.com - a major "insurance" company used by many active duty, retired military members and their families. This site displays available rentals on its website using a HotPads data feed.

    Zillow Trulia Hotpads Free Rental Site

    SIGNAGE

    (B)  Signage. We will place a Stars & Stripes Homes DTC, Inc. sign in your yard or window as appropriate.

  • 3. What Expenses May Be Tax Deductible?

    Consult your CPA.  For many, management expenses are deductible, as well as repairs and maintenance. Your mortgage interest may also be deductible, as well as property taxes and insurance and any applicable Home Owner Association (HOA) fees. In fact, all your expenses, including sales tax and going to inspect the home are business expenses that may be deductible.  You may also have depreciation to deduct, once it becomes rental property. We recommend you consult your accountant prior to tax time!  You should become familiar with IRS Schedule E.  You can go to www.IRS.gov and download a PDF version of the Schedule E. The deductions you can take on your investment/rental property are one of the big advantages of owning a rental/investment property. But please consult your CPA - Certified Public Accountant!
  • 4. How Long Does It Take To Find A Tenant For My Home?

    We typically lease your home in 3 to 21 days. Some have rented in as little as 24 hours. Our vacancy rate is typically between 1% and 3%. In other words, we manage approximately 600 homes and generally have between 6 and 12 vacancies at any given time. That's not a lot. To streamline the tenant procurement process and lease your home as quickly as possible with quality tenants, our tenants submit their rental application online, pay the application fee online and in many cases sign the lease electronically. How quickly your home rents may be dependent upon price, condition, neighborhood, school district and competing homes for lease.
  • 5. Is Stars & Stripes Homes DTC, Inc. in good standing with the Denver Better Business Bureau (BBB)?

    Yes, Stars & Stripes Homes DTC, Inc. is in good standing with the BBB. Click to see our rating HERE.

  • 6. Who Screens The Tenant?

    We do. Prospective tenants complete our online application and submit an application fee. Please review our Rental Criteria here. We conduct background checks on general information (previous landlord, employer), verify income, history of bounced checks, and check for derogatory information such as police records, arrests, bankruptcies or foreclosures.

    Experience over the years has taught us that properly screening tenants is the most important step in successfully managing your home. Our screening process is accomplished via Experian - one of the three major credit bureaus in the United States. The Experian report we receive includes an applicant's FICO score and available police reports.

  • 7. Who Shows My Home?

    Your Property Manager responds to calls and emails from prospective tenants and sets appointments to show your home! It is much safer to have us do this rather than you personally showing your home.
  • 8. What Does My Property Manager Do?

    All of our Property Managers are full-time, licensed, and insured brokers and realtors. Typically, each Property Manager manages between 50 and 125 homes.  They:

    • Collect rent and distribute proceeds to you.
    • Prepare & Coordinate leases and lease renewals
    • Accept phone calls, emails and faxes from tenants.
    • Coordinate repairs.
    • Ensure repairs are done properly.
    • Send notices for late or nonpayment of rent, violations of the rules, etc.
    • Coordinate or oversee evictions.
    • Obtain your approval for major expenses.
    • Conduct a home walk-through or inspection.
    • Provide timely and accurate accounting of all money received and disbursed monthly, as well as keeping a client trust account in a non-interest bearing account for your money. Colorado state law and the Colorado Real Estate Commission and Department Of Regulatory Agencies (DORA) regulates Property Managers.
    • At the request of owners, provide Comparative Market Analyses (CMA) on the manged home to determine re-sale and rental market value.
  • 9. What Happens When A Tenant Does Not Pay The Rent? Evict Them?

    Colorado Eviction occurs when the court enters an order for the tenant to vacate the home. This order is enforceable only by the sheriff. It allows the sheriff to monitor the removal of the tenant and their property from the premises. As in most states it is never legal for a Colorado landlord to evict a tenant without a court order.

     When a Colorado Tenant Does Not Pay The Rent:

    Before filing a suit to evict a tenant for nonpayment of rent, the landlord must post a written, signed demand giving the tenant the choice of either paying the past due rent or moving out within three days. In computing the period of days the first day is excluded. Therefore, the three day time period begins the day following the posting. The notice must be posted in a conspicuous place on the premises. After the notice has been posted and if the tenant has not paid the rent or moved out within three days, the landlord need not accept the rent and may file an eviction suit at your local Justice Center. The time begins running whether or not the tenant discovers it posted. Also the time continues to run regardless if it is a Saturday, a Sunday, or a holiday. The tenant's legal right to this three day notice prior to eviction for nonpayment of rent cannot be taken away by the language in a lease.

    When a Tenant has Broken A Condition of the Lease:

    Before filing a suit to evict a tenant for noncompliance with lease conditions, the landlord must post a written, signed demand in a conspicuous place for delivery of possession of the premises. The notice must state the reason the landlord believes the tenant is in violation of the lease and give the tenant three days to either move out voluntarily or correct the violation. (Noise violations are particularly difficult issues for both landlords and tenants regarding eviction.) After the written notice has been posted and if the tenant has not moved out by the end of the three days and has not corrected the violation, the landlord may file an eviction suit at the Justice Center, 6th and Canyon. In computing the three day notice the first day is excluded. Therefore, the three day period begins the day following the posting. The start of the three day time limit begins running whether or not the tenant discovers it posted. Also the time continues to run regardless of whether it is a Saturday, a Sunday or a holiday.

    A helpful website for more information on the Colorado Eviction Process is www.HTSPC.com, the company website for Hopkins-Tschetter-Sulzer Law Firm - Colorado's largest "eviction" law firm.  Via this website, you can also sign up for a helpful and very informative monthly, electronic Landlord Newsletter.