Property Management Policy

Delivered in MS Word (.doc) format via email as soon as practicable following your purchase, typically within one business day.

The Colorado Real Estate Commission’s Rules require that Real Estate Brokerage Firms adopt the following written policies:

1. Independent Brokers: adoption of a Brokerage Relationship Policy. (Rule 6.4.A.)

2. Employing Brokers: adoption of a Brokerage Relationship Policy AND an Office Policy Manual. (Rule 6.4.A. and B.)

3. Employing Brokers engaged in property Management: adoption of a Brokerage Relationship Policy AND an Office Policy Manual AND certain written policies pertaining to accounting controls (Rule 5.1), which are included in the Property Management Policy.

If you are engaged in property management, you are required to adopt certain written policies pertaining to accounting controls under Chapter 5 of the Colorado Real Estate Commission’s Rules. The Zumbrennen Law Property Management Policy fulfills this requirement and much more!

The Property Management Policy is intended to be used in conjunction with the the Office Policy Manual (Sales) and Brokerage Relationship Policy.

In addition to the required accounting control policies, the Property Management Policy includes a host of condensed advice and “best practices” on a wide range of topics, including:

•         The Use of Real Estate Administrative Professionals and Assistants           

•         Supervision and Authorization          

•         Property Management Agreements   

•         Lease Agreements      

•         Application of Landlord Tenant Law

•         Brokerage Disclosures           

•         Accounting Practices 

•         Compliance with Commission Rules

•         Accounting Controls – Checks and Balances, Review, and Analysis

•         Trust/Escrow Accounts and Accounting Practices    

•         Payment of Expenses and Advances.

•         Monthly Reports to Owners

•         Security Deposits       

•         Permitted and Prohibited Mark Ups  

•         Rental Application Fairness Act       

•         Fair Housing  

•         Fair Credit Reporting Act (FCRA)    

•         Advertisements          

•         Service and Posting of Eviction Notices       

•         Evictions and Unlawful Removal      

•         Transfers of Management Responsibilities    

•         Warranty of Habitability        

•         Lead Based Paint Certification          

•         Licensee-Owned Properties   

•         Carbon Monoxide Alarms     

…and more!

Zumbrennen Law may be engaged separately to provide customized revisions to suit your needs.

The Policy Manual does not include periodic updates.