1031 Exchange: A Way to Expand Your Portfolio
At Dakota Property Management, we specialize in helping investors expand their real estate portfolio by finding and managing properties on their behalf. One method for increasing your portfolio is through a 1031 Exchange. What Is a 1031 Exchange? A 1031 exchange is a tax-deferred exchange that allows investors to sell one property and purchase another…
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Comparing Property Management Fees: Flat Fee vs. Percentage
When choosing a property management company, one crucial factor to consider is the fees they charge for their services. A reputable management company handles various tasks such as tenant screenings, rent collection, maintenance repairs, taxes, accounting, etc., but they will charge you for these services. The payment structure typically depends on your financial situation, the type…
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Cold Weather Protection Tips for Your Rental Property
Winter can be a challenging time for property owners and landlords, especially in Colorado, with our colder climates, snow, and unfavorable weather conditions. During this bitter time of year, not only are the elements a threat to safety, but tenants tend to stay inside using more heating, lighting, and hot water than usual, creating potentially…
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Why Communication with Your Property Manager Is Important
Communication is key in any relationship, including the relationship between you and your property manager! A property manager’s most important responsibility is communicating with their tenants. Frequent communication helps managers to understand and cater to their tenant’s needs while allowing tenants to gain more insight into the unit they call home. Here are a few…
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