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Denver Property Management - Dealing with Craigslist Scams

Scott Lukes - Thursday, March 15, 2018

The number of fake rental scams on Craigslist and other online classifieds continues to grow, with new aliases appearing daily.

There are several items to look out for:
-- Look for the misspelling of words and more formal language that isn’t commonly used in such online advertising. The emails will be overly polite and poorly written or express excessive eagerness to rent the property without having proper steps including property inspection, background and credit checks.

-- They use photos stolen from other property advertisements and many times copy the legitimate ad with same description and photos.

-- The scammers tend to use yahoo, ymail, rocketmail, fastermail, live, hotmail and gmail, and they also post ads under anonymous craigslist addresses.

- What they all have in common is that sooner or later they send request to transfer funds via Western Union, Money gram or some other wire service. Never, under any circumstances wire money at the request of the prospective “landlord” and never provide a bank account number, bank routing number or other financial or personal information.

-- When there are two identical ads the monthly rental fee will be much different. For instance a legitimate ad for a 4 bedroom house would be, say $1,350 per month. The scam ad will list the same property, same pictures and assume the homeowner’s identity but list it for $850. If it’s too good to be true it probably is. They will have a sob story or say they are not available to show the property but the renter can go and check it out if they wish.

A renter should ALWAYS do business face-to-face with the landlord or property management company. It’s important to have access inside the property and to sign documents and contracts in person and in an office or professional setting.

For more information on this and other topics, please visit us online:
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Denver apartment rents falling

Scott Lukes - Monday, March 05, 2018

According to the Post:  Metro Denver absorbed 11,821 new apartments last year, up from 11,056 in 2016. That represents the most in records going back to 1981, although the 1970s had years with more robust construction.  For the second quarter in a row, both the average and median rent for an apartment in metro Denver fell, while vacancy rates shot up 6.4 percent from 5.4 percent in the third quarter and 5 percent in the second. The average rent dropped to $1,396 at the end of December versus $1,420 at the end of September, while the median rent fell to $1,353 from $1,370.

More Info: 


Denver housing shortage at a peak? What does this mean for Denver rentals?

Scott Lukes - Wednesday, February 28, 2018

Denver housing shortage at a peak?  What does this mean for Denver rentals?

According to Denver Post: 

The deficit of homes and apartments in the region is expected to peak this year at about 32,000 units, and that will put upward pressure on home prices for years to come even as supply rises to levels not seen since the early 2000s, warned Phyllis Resnick, lead economist for the Colorado Futures Center at Colorado State University. That deficit, which has been building since about 2014, represents the difference between demand from households and the supply of available housing.

Sharing a bedroom with a renter... a new Denver property management trend?

Scott Lukes - Friday, February 23, 2018

New research says demographic shifts and the sharing economy will lead to more homeowners with spare bedrooms being matched with long-term renters.

According to Rental Journal: 

 “Home sharing will gradually take a sizeable dent out of housing demand,” write Mikaela Sharp and John Burns, of John Burns Real Estate Consulting. They say 44 million empty bedrooms await."

Will this be a long-term trend in Denver?  Perhaps, as the gap between salary growth and rental housing cost continues to rise...



Managing millennial expectations in Denver Rental Housing

Scott Lukes - Wednesday, February 21, 2018

Managing millennial expectations in Denver Rental Housing

According to Rental Housing Journal:

High turnover in the maintenance ranks is a problem in multifamily housing, especially among millennial maintenance personnel. They like easy-to-use technology applications on their smart phones and not old paper-based maintenance processes. That is why the company, Facilgo, did the study to research these questions.

  • How do millennials' expectations for faster maintenance affect property management maintenance organizations?
  • Are millennial maintenance personnel leaving multifamily due to the lack of technology solutions available in their day-to-day jobs?  What can be done to retain them?
  • What strategies are companies using to make their maintenance processes more efficient?
  • How will these new strategies help retain millennial maintenance personnel and satisfy millennial residents?
  • What will happen if companies don't do anything to cater to millennials' needs?

For more info: 


average rent for an apartment in Denver $1567 which is a 0.64% increase from last year

Scott Lukes - Thursday, February 08, 2018

According to Rent Jungle:  As of December 2017, average rent for an apartment in Denver, CO is $1567 which is a 0.64% increase from last year when the average rent was $1557 , and a 0.06% increase from last month when the average rent was $1566. One bedroom apartments in Denver rent for $1377 a month on average (a 1.23% increase from last year) and two bedroom apartment rents average $1769 (a 0.68% increase from last year).  

Echo Summit, a leading property manager in Denver rentals, sees this trend, though it is more localized in certain areas of the city.

For more information:

Rents to go down in Denver?

Scott Lukes - Friday, January 26, 2018

Per the Denver Post:

Thousands of new apartments continued to pour onto the market in metro Denver last year, pushing down rents and pushing up vacancy rates to their highest level in seven years, according to the Denver Metro Apartment Vacancy and Rent report for the fourth quarter.

Metro Denver absorbed 11,821 new apartments last year, up from 11,056 in 2016. That represents the most in records going back to 1981, although the 1970s had years with more robust construction.

For more info: 

Denver Post: Home price gains and rent increases could flatten

Scott Lukes - Thursday, January 25, 2018

Per an article recently published by the Denver Post:

“Our expectation is that 2018 may indeed be the year that home prices in metro Denver increase at about the same 5 percentish rate as the nation,” said Patty Silverstein, chief economist with Development Research Partners in Littleton.

Denver property manager Echo Summit Property Management, like many other professional property managers, have been seeing increased pressure on pricing corresponding to a general increase in Days on Market across the board. 

For more information, visit: 



Scott Lukes - Friday, October 13, 2017

Denver Property Management Company Echo Summit shares RentJungle stat:

As of September 2017, average rent for an apartment in Denver, CO is $1589 which is a 1.01% increase from last year when the average rent was $1573 , and a 0.69% increase from last month when the average rent was $1578

Colorado Marijuana laws for Denver Rentals Management -

Scott Lukes - Saturday, June 03, 2017

Property management usually has more to do with ‘grey’ areas than it does with black and white.  There is no more grey right now than with medical marijuana and outright legalization of marijuana through Amendment 64.

The big issue, of course, is that federal and state laws differ from one another.  On the federal level, HUD enforces the federal Fair Housing Act (Amended, Title II of the Americans with Disabilities Act, and § 504 of the Rehabilitation Act of 1973, to be exact). HUD’s viewpoint is that marijuana use, even for medical purposes, should not be allowed.  HUD is against housing providers granting reasonable accommodation requests related to medical marijuana, even in states like Colorado that have a Constitution that allows it.

So where does this leave the landlord?  General consensus is that as long as a landlord has an -enforced- policy in place that they disclose and follow consistently, they probably won’t get into trouble for allowing or not allowing marijuana.  The most conservative approach adopted by professional property managers is prohibition... marijuana use is prohibited even if the resident possesses a medical marijuana card or makes a reasonable accommodation request. The prohibition policy is legally defensible because marijuana use or possession is a felony under the federal Controlled Substances Act.

But how could a landlord get into trouble? A typical scenario would be someone with a pot card wants to rent from them.  The tenant says  “this card says I’m disabled, so under the American with Disabilities Act I’m asking for reasonable accommodation from you.”  This is a fair statement just as if someone in a wheel chair would ask for a wheel chair ramp, or someone with a seeing eye dog asks to bring their dog into a no-pet property. They are asking for the same accommodation.   As long as you have a published policy (that you strictly enforce and never waiver on) that says you do not acknowledge the pot card, and do not allow the use of marijuana you’re going to be safe.  The problem arises when 1) the applicant was never notified of this policy before their credit was run and/or before they moved in, or 2) the landlord allows tenant A to use marijuana (medical or not), and does not allow tenant B to use it. In this case, they have opened themselves up for a possible discrimination lawsuit.

The best way landlords can protect themselves from this potential outcome is to have their policy included in a published “rental applicant selection criteria” document. When someone fills out an application they need to communicate to the applicant what their selection criteria is for marijuana.  Then, when they sign the lease, the landlord should reiterate their policy through a thorough Crime and Drug-Free Addendum which further details their policy on marijuana and helps to further protect against liability.   

We are not suggesting that landlords allow or disallow the use of medical marijuana or other consumables, but they do need to have a policy and follow it consistently … as with anything in property management. 

Another area where landlords have to be very careful; if allowing growing on-premise, and it turns out that the renters are doing something illegally (or violating some form of code), the landlord might be brought into and legal proceedings, and held equally accountable.  If you allow growing, know your stuff and seek legal advice in advance.    

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