Denver Property Management
What you need to know about Denver property management and real estate investing
Are you considering partnering with Grace Property Management for the management of your Denver rental property? If so, we have 10 numbers that will give you a glimpse into how we operate, and help you decide if we're a good fit for each other.
Percentage of rent due that we collect each month. This is due to a very tight applicant screening process, a time-tested internal collection process, and the fact that we have a full-time Director of Accounting (Jessica M) whose only job is to ensure our residents pay on-time each month.
The number of U.S. presidents that have served in office since we opened Grace Property Management for business in 1978. In 1978 Jimmy Carter was our President and the Bee Gees had the #1 song (Staying Alive!). When you hand us the keys to the front door of your property, you can feel confident knowing we’re going to be here today, tomorrow, and the next day after that!
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The ranking we received as the 2018 ‘Think Realty’ National Property Manager of the Year. Although we only operate in Colorado we are recognized nationwide as a leader in the property management industry.
The percentage of our tenants that renew their leases every year. This is important because turnover leads to vacancy – which is the biggest expense you could potentially have as a landlord. More lease renewals leads to less turnover, which results in fewer expenses for you!
The approximate number of rental applications we’ve processed. After looking at this number of credit and background reports, we know what to look for when it comes to processing Denver rental applications.
The number of states in which we have taught property management continuing educational classes for state Realtor associations. We teach thousands of Realtors and property managers each year - helping to educate them on how to do property management better.
The amount of money we guarantee you for lost rent, pet damage or legal eviction expenses. If we approve and place a tenant in your Denver rental property and we have to evict that tenant for non-payment of rent, we will pay up to $1,000 of lost rent or legal fees. We will also pay up to $1,000 in pet damage if we approve a pet who does damage. Click here for more details.
Although we hope to work together for many years to come, we don’t believe in long-term “forced” contracts. Rather we believe we should earn your business every single day. Should you ever find our services lacking, you can terminate our agreement with a simple 30-day notice; and with no termination fees or penalties.
That’s not our Denver property management office phone number - it’s my (Marc Cunningham) personal cell number. If you ever have a problem as a client, you can call me directly. Just please don't call during dinner, my wife doesn't like that!
The amount of money we have donated to our ‘Grace-Gives’ fund over the last 12 months. We use this money to help responsible residents who encounter unexpected financial difficulties. For every lease we sign, we donate money into our ‘Grace-Gives’ account. We’ve been able to help many residents in time of need! Click here for details.
Pros and Cons of Owning Denver Investment Real Estate
Denver is a big place and can often also mean surrounding communities. Therefore, for the purposes of this information we are referring to "Denver" as the downtown area and the immediate city area within Denver city limits.
The short answer is that Denver real estate is booming! Both the rental market and the sales market seem to hit new record highs each month.
If you are considering investing in Denver real estate, one question you must ask yourself is how much more upside is there? When compared to East coast and West coast, real estate price Denver are still low. And given the migration into Denver from the East and West coast - we believe the Denver market is stable and will continue to appreciate (but at a slower rate than the past few years).
One risk associated with downtown Denver investing is that you will be competing with a lot of new class-A multi-family rental product. Denver may not be 'overbuilt' yet; but there is a lot of new building and at a very fast pace.
If you are looking for a stable market, amazing amenities, pride of ownership and very strong trending rental market - Denver is your place for a long term buy and hold.
- Growing market
- Influx of new residents each month
- Community amenities
- Lower than average crime rate
- High cost of living
- Lots of new multi-family class-A construction may be sign of overbuilding
- CAP rate (investment rate of return) is lower than some other areas