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What Makes a Good Real Estate Investment in Lakewood, CO?

Susan Melton - Friday, October 18, 2019

What Makes a Good Real Estate Investment in Lakewood, CO? - Article Banner


When you’re looking for a real estate investment in Lakewood, remember that you’re not looking for a home that you’re going to occupy. Many investors make the mistake of looking for high-end finishes, large layouts and other things that make properties appealing to them personally. Those things don’t matter so much on the rental market. Tenants want a safe, comfortable home in a good location that’s priced and maintained well.

Follow these tips when you’re looking for your next real estate rental investment.

Consider the Location of a Property

Just like on the sales market, location counts. The best tenants in Lakewood will be looking for a home that’s close to work, shopping, and grocery stores. They’ll want to be in a good school district if they have children. Many tenants also want a walkable neighborhood in an area that is well-populated but not too traffic-heavy. Think about where you’re buying. A centrally located home will rent faster and for more money than a property that’s more remote. If the home is in an HOA, make sure you have permission to rent it out and get to know the association’s rules and regulations before you buy.

Buy a Home in Good Condition

You also want to evaluate the property’s condition. It may be tempting to invest in a property that needs a little work. The price will be lower, and you’ll be able to make any upgrades and improvements that you want. However, the best rental properties are nearly move-in ready. You don’t want to spend a lot of time making repairs and renovations because it only extends your vacancy time and delays the collection of rent. Have the property inspected thoroughly before you buy, and talk to a property manager about the work that will need to be done in order to get the home on the market.

A home that’s in good condition when you buy it is also less likely to need a lot of costly repairs after a tenant moves in. Routine maintenance will always be necessary, but if you can cut down on surprise expenses like new furnaces and roofs, you’ll be in a stronger financial position with your investment.

Properties with High Potential Rents

You want to earn as much as you can on your investment, so choose one that is likely to bring in the most rent. The rental property you should buy is the one that tenants will find most appealing. It might have energy-efficient appliances that will keep their utility payments down or a nice fenced yard that’s perfect for pets. Maybe it comes with extra parking or a large master suite. When you can find a home that stands apart from the rest of the rental competition and it’s priced well, you should buy it.

Talk to a Professional Property ManagerOne of the best ways to find the right rental investment for your portfolio is to talk with a professional property manager. A good Lakewood residential management company will help you estimate how much rent you can earn, how long it will take to find tenant, and what kind of work will go into a home before you can rent it out.

We’d be happy to help. Please contact us at Assured Management when you’re looking for your next investment home.

Guide for New Investors | Lakewood, CO Property Management Advice

Susan Melton - Friday, October 4, 2019

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There’s a lot of potential for building wealth and setting up financial freedom when you invest in real estate. There’s also a lot of potential for liability and risk. If you’re a new investor, congratulations on taking an important step towards meeting and exceeding your real estate goals. We’re here to help you avoid a lot of the costly mistakes that even experienced investors make.

This first-timer’s guide will help you get started now that you own some rental property and you’re ready to start collecting rent.

Price your Property Correctly and Prepare it for the Market

Before you start looking for tenants and signing leases, you need to ensure your home is ready for the rental market. If it needs a little work, get started on that right away. Have it cleaned thoroughly and professionally, and remove any debris or personal items that were left behind by former owners or tenants. Check every system and function to make sure it all works. Replace light bulbs that are burned out, make sure the windows lock, and replace the air filter. Take care of any repairs, and then consider making some cosmetic updates that aren’t too expensive and will help you attract the best tenants for the most rent. You might consider a fresh coat of paint, new appliances, or updated ceiling fans.

Next, make sure you’re pricing your property right. Everyone wants to earn as much as possible in rent. But, you have to be competitive and price your property according to what the market will bear. Conduct a market analysis so you know what other homes like yours are renting for in the area. Hopefully, you’ve consulted with a property manager before buying your house. If you haven’t, do so now so you can get some accurate pricing data.

Marketing and Screening for your Rental Property

Once you’re ready to find a great tenant, make sure you’re placing an ad that’s engaging, accurate, and full of great photos. Place your ad on all the online rental sites that prospective tenants are using, including Zillow, Trulia, HotPads, and Rentals.com. Make sure you including information on rental amount, size, and location. When tenants get in touch, be responsive. Schedule showings and answer questions.

You need an application that’s compliant with all state and federal fair housing laws. Be careful when you’re screening; you have to screen every application consistently, and you need to be protective of your applicants’ data and financial information. When you’re screening, check these important things:

  • Nationwide eviction and criminal check
  • Employment and income verification
  • Credit check
  • Rental history check

Many investors and landlords neglect to talk to former landlords, but this is important. You can ask if rent was paid on time, if there was any property damage left behind, and if that landlord would rent to the tenant again.

Maintaining your Home and Enforcing your Lease

With a lease signed and a tenant in place, you will be responsible now for collecting rent, responding to routine and emergency maintenance issues, and making sure your tenants is doing everything you expect.

Working with Professional Property ManagersSmart investors work with professional property managers so they don’t have to worry about the stresses and expenses of finding the right tenant, executing a strong lease, and taking care of the property throughout the lease term. When you have an experienced property management team working for you, there won’t be any reason to worry about making mistakes or falling out of compliance. You’ll have access to their expertise as well as their tools and resources. Professional management companies work with reliable maintenance vendors, respond to emergencies in the middle of the night, and take care of any tenant disputes or problems.

The best thing you can do as a new investor is hire a smart, capable property management company to help you earn more and spend less on your investment. We can help. Contact us at Assured Management for more information.

Why Invest in Lakewood, CO Real Estate?

Susan Melton - Friday, September 20, 2019

Why Invest in Lakewood

Lakewood has enjoyed some explosive growth over the last couple of decades, due to its surging population, its high quality of life, and its stunning location near the Rockies. It’s now the fifth largest city in Colorado, and investors from all over the world are taking notice.

If you’re considering a real estate investment in Lakewood, we’d like to talk about the opportunities in our market. It’s a great place to live and an enjoyable place to visit. Whether you’re thinking about making your first rental property purchase or you have a portfolio that’s doing well and could use some new acquisitions – let us tell you why Lakewood is the place to invest.

Lakewood Has a Strong and Diverse Economy

The city of Lakewood is close to Denver, and a lot of its economic and population power comes from this proximity. But, the region is also able to stand on its own when it comes to economic stability. In Lakewood, there are great businesses providing great jobs to residents of every skill level. Unemployment is below three percent and the median salary is around $56,000. Some of the most important industries in this market are agriculture, manufacturing, retail, transportation, and finance. The high employment numbers and stable economy create a sustainable tax base and a lot of consumer activity. When you invest here, you can be sure that a healthy ROI is in your future.

Lakewood Tenants are Stable and Qualified

Investing in Lakewood rental real estate also brings you a pool of highly qualified and stable tenants. You’ll find renters with a verifiable employment history and income who are looking for well-maintained properties in desirable neighborhoods. These tenants are likely to stay in place for the long term, especially if you’re a responsive and proactive landlord. With the current Lakewood tenant pool, you won’t have to worry about vacancies and high turnover cost. Investors can expect to earn high rents, setting themselves up for attractive cash flow potential.

Diversity of Investment Properties in Lakewood

Investors have choices when it comes to investing in Lakewood. Maybe you’re looking for a single-family home in an established neighborhood or planned community. Lakewood has those. When you’re looking for the right property to invest in, consider townhomes near Bear Creek Park, duplexes near downtown, or units in new apartment buildings. There are outstanding opportunities at attractive prices, and you don’t want to wait too long before you buy. The average home is only on the market for about 16 days.

Professional Lakewood Property Management

Professional Property ManagerWhether your priority is short-term cash flow or long term price appreciation, the Lakewood rental market has something for you. Talk to a local property management company before you buy. We can tell you what to expect in terms of rental ranges, vacancy times, and tenant demographics. We can show you what kind of work will need to be done to the properties you’re considering before they’re ready to rent.

There’s a lot more to love about investing in Lakewood. Please contact us at Assured Management, and we’ll talk through your investment goals and our local opportunities.

Tips and Tricks for Advertising Your Rental Property in Lakewood, CO

Susan Melton - Friday, August 16, 2019

Assured Management is an industry leader in property management serving the West side of Denver Metro Area.

Advertising and marketing your rental property is an important part of keeping vacancy rates low and attracting outstanding tenants who will pay rent on time, maintain your home, and follow the terms of your lease agreement.

You have to advertise aggressively so you can get the attention of a large pool of potential renters. These are some of the tips and tricks we use as professional Lakewood property managers.

Make Sure the Property is Rent-Ready

Before you can begin advertising your property, it has to be ready for the rental market. This doesn’t mean almost ready or good enough. We mean move-in ready. Why is this important? Because good tenants are looking for homes that are not going to need a lot of cleaning and work before they begin unpacking. They want to be able to imagine themselves living in your property. So, before you even think about advertising it, make sure the property is empty and clean.

Walk through the home with a critical eye to see if there’s anything that needs fixing or replacing. Look for light bulbs that are burnt out, outlets that don’t work, and sinks that are dripping. Mow the lawn and create some eye-catching curb appeal. Don’t post an ad until you’re positive your home is ready to show to tenants.

Take Excellent Property Photos

A major part of your rental property advertising strategy is photography. Take high quality, professional-type photos of your empty home. You don’t have to hire a professional photographer (although it might help). You can probably take good pictures with your phone as long as you pay attention to the lighting and the spacing. Take pictures from corners so you can maximize the amount of the room you’re showing. Include a photo of any yard space and special amenities such as garden tubs, walk-in closets, or updated kitchens. You want to include as many photos as possibly in your advertising.

Use Online Advertising Resources

The best place to advertise your rental property is online. No one is reading the classifieds in newspapers anymore. Those glossy real estate catalogues that you see in supermarkets are not where tenants are looking for homes. Create an online listing to go with your photographs and get it on as many sites as possible. You’ll attract a large pool of tenants who are actively looking for rental homes.

Social media can help as well. Post your ad on Facebook or Twitter or even Instagram. People know people who are looking for homes, so word can spread fast.

Post a Professional Sign

There’s still room in advertising for professional signage. Post a good-looking sign in front of the property that includes your contact information and pertinent information such as number of bedrooms and amount of rent. This will help you get the attention of people who happen to be walking or driving through the neighborhood.

We love working with owners to advertise their properties. If you’d like to access our tools and resources or you need help with property management in Lakewood, Colorado, please contact us at Assured Management.

Tenant Damage vs. Normal Wear and Tear: Know the Difference in Lakewood, CO

Susan Melton - Wednesday, July 17, 2019

Assured Management is an industry leader in property management serving the West side of Denver Metro Area.

Unless a different time period is specified in the lease, landlords in Lakewood, Colorado are required to return their tenant’s security deposit within 30 days of a tenant moving out. How do you know whether to charge that deposit for damage and repairs?

It’s important to know whether the repairs required at your rental property are due to normal wear and tear or tenant abuse and neglect. Tenants are responsible for any damage they or their guests created. But, the wear and tear items are your responsibility as a landlord. Today, we’re helping you understand the difference.

Conducting and Documenting a Move-Out Inspection

Before you make any decisions about wear and tear or damage, you need to inspect your property thoroughly after your tenant moves out. This gives you the opportunity to compare the condition at the end of the lease to the condition of the home at the beginning of the lease. Make sure you take a lot of photos and include careful notes. You should have conducted a move-in inspection as well, so you’ll have plenty of documentation that can help you determine whether there’s any damage at the property.

Examples of Normal Wear and Tear

Normal wear and tear includes any deterioration that occurs in the general use of the property. It occurs no matter who is living there. All of those small nail holes in your walls from where tenants hung pictures are considered normal wear and tear. You might see that the paint in the living room is scuffed a bit from where sofas or other furniture were pushed against the wall. That’s wear and tear. Some worn carpet in high traffic areas is also wear and tear, assuming the condition of the carpet is otherwise intact. These things will need to be addressed before a new tenant moves into the home, and the cost will need to be covered by the landlord.

Examples of Property Damage

Property damage goes beyond what you find that’s normal wear and tear. Broken doors, windows, and appliances are good examples of damage. If you find large stains on the carpets or a tenant’s toddler has used the walls as an art canvas, you can charge the security deposit to repair those items. Gaping holes in the walls from where a large television was mounted could also be considered damage. When pets scratch at surfaces or dig up landscaping, you can consider it damage.

These are things that your tenant is responsible for paying for out of the security deposit. Make sure you document exactly what those charges reflect, and provide the tenant with copies of the invoices or bills that show the costs.

We always recommend that you be reasonable and fair when you’re deciding to deduct for damage. You should hold your tenants accountable, but you don’t want to give them a reason to file a claim against you for an illegal security deposit charge. Most conflicts between landlords and tenants surround the security deposit, so make sure you can back up any claims of damage that you’re making.

We’d be happy to help you if you’re not sure what’s damage and what qualifies as wear and tear. Contact us at Assured Management today.

What Needs to Be Included in My Lakewood, CO Lease Agreement?

Susan Melton - Monday, June 17, 2019

Assured Management is an industry leader in property management serving the West side of Denver Metro Area.

Your lease agreement is the most important document that you’ll sign with your tenant. It’s meant to protect you and your property, and it’s also something that the tenant can use to answer questions during the tenancy. It’s important that you use a lease which is enforceable in Colorado and compliant with all federal, state, and local laws. We don’t recommend that you simply download a sample lease from any website you find on the internet. Get a professional lease from a professional property manager or a real estate attorney.

Every lease will vary depending on the property that’s being rented and the people who are involved. However, there are a few things that you absolutely need to include in your lease agreement.

Contact and Identifying Information

Every lease should include the names of the landlord and the tenant. You’ll want to provide the property address as well, with a description of what the property looks like. For example, you’ll state that it’s a single-family home with two stories or a unit in a fourplex with private parking. List the names and ages of all occupants as well, even if they aren’t old enough to sign the lease. If there are pets, describe the pets and include a copy of your pet policy so the tenants have something in writing regarding responsibilities and expectations.

Lease and Renewal Terms

The lease agreement must include the effective date of the lease and the day that it ends. Most leases are one-year in length, but yours could be 18 months or six months. In addition to the lease term, your agreement should also reference the procedures that each party must follow when the lease is ending. The tenant will have to notify the landlord within 30 or 60 days of their intention to move out, for example. Or, the landlord will have to offer a lease renewal 30 days in advance of the lease ending. Or, the lease could convert to a month-to-month agreement at the end of the term.

Rent and Security Deposit Payments

Note the amount of security deposit that the tenants paid, and specify when it will be returned. Colorado law requires that you return the deposit within 30 days of the tenants moving out, unless your lease specifies otherwise. The maximum amount of time you’ll have is 60 days.

You need to stipulate how much rent is due every month, how it should be paid, and when it’s due. If there’s a grace period, make sure your lease reflects that. If you’re implementing late fees once the rent payment is late, your lease agreement must include that information as well as any other consequences to late or unpaid rent.

Additional Rules and Responsibilities

Beyond the required information, your lease should include everything you want the tenant to know about the expectations you have while they’re living in your property. Many landlords have non-smoking homes, which means tenants are not permitted to smoke anything inside the property. You might want to include limits to how long guests can stay in the property and the number of cars that can be parked in the driveway. Make sure you’re detailed and you cover everything because this is the first place you and your tenants will go if there’s ever a dispute.

We write and negotiate leases for our rental property owners every day. If you have any questions, please contact us at Assured Management. We’d love to be your Lakewood property management resource.

Landlord's Guide to Reducing Vacancies in Your Lakewood, CO Rental Property

Susan Melton - Friday, May 17, 2019

Assured Management is an industry leader in property management serving the West side of Denver Metro Area.

Losing any money on your investment property hurts, but when that loss is due to vacancy, it can be especially painful. Why? Because vacancies represent money you’ll never be able to earn back. And, they’re often avoidable.

We have been managing rental properties in Lakewood since 1987, and we have adopted a few strategies to help our owners avoid long and expensive vacancy periods. Today, we’re sharing them with you.

Price Your Home Correctly

Everyone wants to earn as much rent as possible on their property. However, if you’re stubbornly holding out for a rental price that’s above what the market supports, you’re going to have an empty property for longer. Reduce your vacancy rate by pricing your property competitively so that it’s attractive to good tenants. This will get your rent coming in quicker and it will also increase the chances of placing a high quality tenant who will pay on time, take good care of your home, and renew year after year.

Provide a Property Tenants Want to Rent

When your home is priced according to the Lakewood rental market and you’re still not getting a lot of interest, take an objective look at the condition of your home. No one wants to move into a property with old appliances, chipped paint, and tired floors. A few updates and upgrades will help your home rent faster. They don’t have to be expensive. Instead of repairing appliances over and over again, invest in new ones and make sure they’re energy-efficient. New hardware on sinks and drawers can make a big difference. Make sure your landscaping provides excellent curb appeal. These things will get your property noticed and rented.

Market Your Property Online

Strategic marketing is an important part of avoiding long vacancy periods. Today, most tenants are looking for homes online. You should list your available property on all the popular rental websites, including Zillow and Trulia and Craigslist. Use social media as well. Your Facebook and Twitter followers may not be looking for a home themselves, but they could know someone who is.

Make sure your photographs are numerous and clearly show the best parts of your property. Include a picture of the front and make sure you’re showing off bedrooms, bathrooms, and any outdoor space. The description you write should be detailed and include pertinent information such as the rental amount and when it will be ready for move-in. Always include your contact information.

Retain Your Great Tenants

Turnovers are just as expensive as vacancies and best avoided. When you have a great tenant in place, do everything you can to keep that tenant renewing the lease. This will save you money and reduce the chances that you’ll have an empty house that isn’t earning any income. Respond to your tenants promptly when they have maintenance requests and be attentive to their needs and desires. Whatever you can do to ensure they have a pleasant rental experience will help you keep your vacancy rate down.

These are just a few of the things we do when we’re working to avoid vacancies with the properties we manage. If you have any questions or need any help with Lakewood property management, please contact us at Assured Management.

What Do I Do if My Tenant Stops Paying Rent? Lakewood Eviction Process Explained

Susan Melton - Thursday, July 5, 2018

What is your greatest fear as a landlord? 


It might be that your tenant will stop paying rent. 

When you screen carefully and enforce your lease terms and rent collection policies, you won’t run into this problem very often. But, bad financial things can happen to good tenants, and you may find yourself trying to collect overdue rent from a tenant. 

You need a plan.

Establish Strong Rent Collection Policies

Most Lakewood leases require that rent is paid on the first of the month, and there’s usually a grace period. Your lease must indicate when rent is to be paid, and when it’s considered late. At Assured Management, rent is late if it isn’t paid on the fifth of the month. Our tenants know that the eviction process then starts on the sixth.

Post a Three Day Notice to Pay or Quit

The eviction process starts with a proper notice. You’ll need to serve or post a Three day Notice. We do this on the sixth of the month, as soon as rent is officially late. Tenants will usually pay their rent in full by the end of those three days because they don’t want to incur extra costs, and they don’t want the eviction to go any further.

Work with a Legal Expert

If rent is not paid after the three day period has passed, we strongly recommend that you turn the case over to an attorney who understands landlord and tenant law and has handled evictions before. It’s very easy to make a mistake when you’re beginning the court process, and those mistakes will be expensive and time consuming. 

Even after your attorney files the eviction in court, your tenant can still pay what is owed and stop the eviction. We allow this when the tenant pays the late rent, the late fee, and any attorney and court fees.

Proceeding with Eviction

When you don’t hear anything from the tenant, you’ll need to follow through with the eviction. A tenant who isn’t paying rent isn’t following the terms of the rental agreement, so you have the legal right to vacate that lease and remove the tenant from your property. 

But, you have to do it legally. You cannot change the locks or cut off the power. Let your attorney go to court with the necessary documentation. Once you have your eviction, meet the sheriff at the property so you can remove the tenant’s belongings, and you’ll get your property back. 

Lock and ChainIf you’re in a situation where your tenant isn’t paying rent and you’re not sure what to do, contact us at Assured Management, Inc. We would be happy to help you.



3 Tips to Maximize Return on My Lakewood Investment Property

System - Wednesday, June 27, 2018

Maximizing the return on your investment property requires you to do two things: 

  • Earn as much rental income as possible; and, 
  • Increase the value of your asset.

This can be challenging, especially when you don’t have control over things like market conditions and tenant behavior. 

But, if you focus on the things you do control, you can effectively increase the profitability of your rental property.

Take Care of Preventative Maintenance

Ignoring or putting off minor repairs will only lead to larger maintenance problems and more expensive fixes. It will also upset your tenants, which means they won’t renew the lease, and you’ll be left with an expensive turnover and unnecessary vacancy days. 

When you’re intentional with a proactive, preventative maintenance strategy, you preserve the condition of your property and show your tenants that you care about the home. When a repair request is submitted, take care of it. Schedule regular system checks and service so you can be sure your heating, air conditioning, plumbing, and electrical equipment are functional, safe, and efficient. 

Unexpected emergencies are sure to happen. But, you can prevent the expensive deterioration of your investment by taking care of small repairs right away, and keeping an eye on how your property’s components are aging and functioning.

Regular Property Inspections and Evaluations

Inspecting your property will also help you increase the return you earn on your investment. 

Why? 

Because you’ll get an idea of how well your tenants are taking care of it. You’ll also have the opportunity to notice and address any maintenance items that have not been reported but need attention. 

It’s critical to inspect your property thoroughly before a tenant moves in. Take pictures, make notes, and document the condition of the home completely. You’ll want to do a similar inspection after a tenant moves out so you can compare the condition and charge the security deposit accordingly. 

We recommend you inspect the interior of the property at least once throughout the tenancy. Schedule a time with the tenant to walk through the property. Take pictures and notes, and if you notice a lease violation, get it rectified immediately. If there’s some deferred maintenance that needs to be taken care of, schedule your vendors right away.

Make Smart Updates and Upgrades

You need to be smart about the improvements you make to your property. Don’t invest thousands of dollars to remodel your kitchen if spending a few hundred dollars on better hardware and new floors will do the job. 

Tenants are looking for a modern, comfortable place to live. They will pay attention to the kitchen and the master bathroom. Make sure the paint is fresh, the floors are clean, and the landscaping is neat and low-maintenance. A property manager can offer advice about your specific market and what you should do to attract quality tenants and higher rents. 

ToolsThese are just a few of the ways you can increase your ROI. If you’d like to hear more, please contact us at Assured Management, Inc. We’re here to help you earn more and spend less.



Tips and Best Practices for Rental Property Inspections in Littleton, CO

System - Monday, November 20, 2017

At Assured Management, we are a personalized residential property management company successfully managing homes for rent in Lakewood, Colorado since 1987. Our mission is to provide quality property management services to both rental property owners and their tenants while managing single family homes in Lakewood and the west side of the Denver metro area. Today, we’re talking about tips and best practices for rental property inspections.

Inspect with a Maintenance Survey

An official rental property inspection should be done by a qualified property inspector. However, a properly done maintenance survey is less expensive and will give property owners some valuable information. This tool will help you prioritize maintenance planning and future updates. You can also monitor the tenant’s care of the home and address any lease violations.

Rental Inspection Checklist and Maintenance Reports

We work with savvy property owners whose feedback was used to create our maintenance report. This report is a record of the current condition of the rental home as well as the age of vital systems like roofs, water heaters, and furnaces. Preventative maintenance of these systems is key to extending the usefulness of their lives. An experienced property manager surveying a rental property can spot water where it shouldn’t be. Problems can develop under sinks and showers, around toilet bases, and in lawn watering systems from loose or missing shingles, damaged missing, or clogged gutters, or clogged sewer systems. By catching these problems early, you will experience lower repair costs.

Advise and Inspect: Addressing Maintenance Concerns

A rental property is a tenant’s home, and advance notice should be given prior to any inspection or maintenance survey. A professional property manager will not only provide advance notice, but will calmly and politely address any maintenance concerns a tenant may have.


Tenants can damage a rental home willfully or by not knowing what needs to be done to prevent damage. We work closely with tenants to help them learn how to avoid damage to the home. Rental property owners can face loss of income if updates or repairs are done between tenants while the property is vacant. Our owners use the maintenance survey to plan for updates and repairs to be Christinacompleted while the property is occupied and the rent is being paid each month. This report is also used to set up a preventative maintenance schedule as well as plan for the optimal time to complete important updates or repairs. The maintenance report is most valuable when used to avoid costly emergency repairs.

If you have any questions or you’d like to take advantage of our knowledge and resources, please contact us at Assured Management. We’d be happy to help you with a rental inspection or anything pertaining to Littleton property management.

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ASSURED MANAGEMENT INC., CRMC®
1244 S. Wadsworth Blvd.
Lakewood, CO 80232

Phone: (303) 985-4670
Fax: (303) 763-8982

Office hours:
Monday-Friday 9 am to noon and 1 pm to 4 pm.

Copyright © 2019 Assured Management, Inc. CRMC®. All Rights Reserved.
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