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Andereck Investment Properties owns, leases and joint ventures executive rental homes, lofts, townhomes and apartments in Cheyenne. Houses and townhomes rent from $1,000/month to $2,400/month. We select only "premium-quality" living space, so we command top-dollar rents and average an annualized 96% occupancy rate.
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We attract quality tenants through national advertising.
Our website, www.cheyennerentalhomes.com receives over 6,000 visits a month! Traffic counters record every unique visit! These are people relocating to Cheyenne who need quality living space. And these folks don't even know your place is for rent, unless we're managing your property!
We also use yard signs, flyers, newspaper advertising, broker referrals, corporate housing referrals, tenant referrals and the Cheyenne Multiple Listing Service (MLS) to meet local tenants.
Virtually all our executive rental properties are leased to out-of-town families relocating to Cheyenne. Many are homeowners looking for an interim-rental housing solution while they search for a home to buy or land upon which to build.
Early Termination Clause. We do permit an Early Termination of Lease Clause for interim renters who ultimately purchase a home from us. And our leases contain a Military Transfer Clause, for renters in the armed forces. |
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We require a tenant application, first month rent, security deposit and pet deposits. As an owner, if you want deeper background checks, you may request and pay for the additional investigation.
NOTICE: Throughout the U. S., there are incidents of tenants using rental homes for illegal purposes, meth labs, etc. Sometimes those activities render the home unlivable and unsellable. To our knowledge,there is no insurance that covers a home that has been damaged by a meth lab. This is a very real exposure for the owner. Our Management Contracts specifically state that the Owner will not hold the Property Manager liable for any illegal tenant conduct, including meth labs or other activities that would impair the value or future use of the property.
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Frequent drive-bys are made to observe that property exteriors, lawn and landscaping are maintained. Our lease agreements allow for periodic interior inspections. When inconsistencies are noted, tenants are notified to take necessary corrective action. And we do our best to see that they are corrected. |
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We don't do property management or maintenance. But, in emergency situations or when contacted by tenants with repair issues, we will initiate the repairs. If the damage was tenant-initiated, we will expect the tenant to pay. If the repairs are not the result of tenant damange, we will protect your investment by scheduling the repairs and you will pay for those repairs.
We want to be fair to the owner and we want to be fair and competitive with the tenant. Our rental rates are among the highest in town, because we manage only "quality" rental homes. However, rental rates are dependant on market conditions, quality of the tenant, length of the lease, type of property, whether furnished or not and the time of year. Setting fair rental rates, establishing proper lease terms and maintaining a strong marketing effort allows us to maintain an annualized 94% occupancy rate.
| Leases, applications and other documents are used to comply with Wyoming Landlord-Tenant statutes and clearly explain landlord rights and tenant responsibilities. Despite background checks, tenant conflicts occasionally arise. Andereck Investment Properties does not hold itself out as an attorney or provider of legal services. We can, however, refer you to an attorney who can provide legal advice and services to you at a reasonable fee. |
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 As Leasing Agent, we are your agent. Andereck Investment Properties will do its best to find the tenants, collect rents, see that the utilities are switched over to the tenant, discourage damage or disruptions to the property and related.
However, the Leasing Agent does not assume any duty or responsiblity for paying the owner any uncollected rents, unpaid utility bills, tenant damage to the premises that exceeds the amount of the security deposit, etc. Please re-read this paragraph before you enter into a contract with the Leasing Agent and be sure you understand what it means. We neither warrant the performance of the lease, nor guarantee the collection of rents, nor vouch for the character of any tenant, nor agree to pay you if we don't get paid by the tenant.
A security deposit is required of all tenants. Tenants who do not pay their rent by the 6th of the month are sent a late notice and assessed a late fee, which we keep. Although evictions are rare, we may remove a tenant from the property should rent not be paid in a timely manner. We use the tenant's security deposit to ready the home for the next renter, then the remainder of the deposit is applied late fees and to the owner's back rent.
Landlords are paid on the 25th of each month. To allow for rent collections, tenant checks to clear the bank, bookkeeping and accounting, property owner checks are mailed on the 25th of each month or, if the tenant is late with rent, within 5 days from the day the tenant's rent check clears the bank.
You may request an IRS Form 1099 for tax reporting at the end of the year. Property owners should check with their accountant to verify the tax advantages when owning rental property. Copies of all work orders and maintenance receipts are mailed with your statements and additional copies are held in our files.
As our fee for securing a tenant, we keep the first month's rent on a 12-month lease, or one-half the first month's rent for a lease term less than a year. That fee is paid at the time the lease is signed by the tenant. Then, our ongoing management fee is 10% of rents actually collected from tenants, payable monthly.
Andereck Investment Properties does not assess advertising fees. There is no fee when the property is vacant and no fee to arrange maintenance services. Since our job is keeping your property occupied, there is no monthly fee if your property is vacant.
Our goal is to provide good service so our fees are recaptured by higher rents, shorter vacancy times and reduced repair costs. If you decide to sell your rental property or add more properties to your investment portfolio, one of our I can handle the listing and sale as your agent.
A Rental Analysis is not always necessary, however it helps determine what the property will rent for on a long or short-term basis. The analysis normally consists of visiting and evaluating the property and its neighborhood. We will submit recommendations regarding repairs, appearance, marketing ideas and the prospective rental range. A free Rental Analysis can be arranged by email at kandereck@aol.com or by calling our office at (307) 432-4036. Property owners are under no obligation to begin management services after a Rental Analysis is provided.
Normally everything needed to begin managing your rental property can be accomplished in an hour at the site. And if you're an out-of-town owner, you don't even have to be there. We will arrange the visit and take care of all paperwork by mail, fax or email. After your management agreement is signed, we will begin marketing your rental home immediately.
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