Out of State Buyers
About 70% of the people who buy Breckenridge and Summit county mountain real estate live on the Colorado Front Range. The front range comprises of the cities of Boulder, Denver, Colorado Springs and their suburbs.The remainder of buyers are primarily from out of state. The majority of these buyers buy condos and other managed property.
What you should know about property management
Property Management
Property management works in two different ways in the mountains. Some communities have associations that do building management and maintenance. This type of management takes care of the property and property amenities.Many people want management for short or long-term rentals for their Summit County real estate.
Short-term Management Companies
Short-term rental companies charge a fee to book your property, accept deposits, and manage and clean your property after a tenant leaves. These fees range from 30% to 55% of gross rental income. I would recommend you speak with several companies and decide the one you like best. Many companies have hidden fees you should check on. These include travel agent fees, booking charges for taking the reservation, very high linen fees, comp fees that are charged when your property or someone else's property is booked for no charge to sell the property to a group, maintenance fees which are a flat rate every month in case a light bulb needs to be changed or other small items. Generally, the less fees that are charged the better you will do with your rental property. You can always choose whom you want to manage your investment property, as there are numerous companies which do this.I recommend using ResortManagers for
Breckenridge Property Management.
In all cases, you should call around and interview the different management companies, and ask them how they market your home, what their fees are, and are there additional fees if the owner uses the unit? You should also ask: Do you include travel agent commissions in your fees?
