Denver Property Management Update – August 24th, 2020

A panel of property managers gives their take on the current Denver rental situation for August 2020 and the continued effects the Coronavirus is having on the market.

Here is our latest property manager update on the Denver market.

Executive Summary:

  • Leasing is still hot. If it’s priced appropriately, it’s leasing.
  • Property Managers are still reporting keeping rent stable and rent bumps (1-3%)
  • The high end, class A in downtown is hurting. Less demand and dropping rents.
  • Class B and C buildings around downtown are doing well.
  • Too early to see any direct impacts the $600/week extra unemployment benefits will have on people paying rents.
  • Rents collected for July 20 are similar to July 19, just more people on payment plans.

Interview with Ellie and Devin Reimer – Aerowood Property Management

Aerowood manages 300 doors in the Denver metro area. Their portfolio consists of mainly condos, townhomes, and single family homes. They also manage a few small multi family units.

Website: rentawpm.com

YouTube Video Interview with Ellie and Devin

Interview with Marc Cunningham – Grace Property Management

Grace Property Management started in 1978 and has grown to manage just under 1,000 doors. They range from single family, to small multi family and also do some commercial property. North Denver to south Denver

Website: rentgrace.com

YouTube Video Interview with Marc

Interview with Gray Hall, GK Houses

GK Homes manages properties in 5 national markets and specifically in Colorado they manage properties in Denver, Boulder, and Fort Collins. They have a portfolio in Colorado of about 700 doors and range from single family homes, to small multi units, and apartment buildings up to 49 doors.

Website: GKHouses.com

YouTube Video Interview with Gray

Interview with Annemarie Sunde – Legacy Property Management

Legacy Property Management has been in business for about 6 years and focuses on single family homes. They also have a few condos and small multi family units in their portfolio. They have properties as far south as Castle Rock and as far north as Broomfield and Thornton. The majority of their properties are located in Highlands Ranch, Parker, Littleton, and Golden. They offer leasing and full property management services.

Website: Legacypmco.com

There is no video interview with Annemarie available this month. You can listen to her full interview on the podcast.

This blog post is a summary. For all the details, listen to the podcast or watch the video!

In addition to the normal property manager market stats, check out these two great posts from Lon Welsh from attending four hours of webinars:

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Authors
Chris Lopez
Chris Lopez is a Denver area real estate entrepreneur and investor, as well as the host of Bigger Pockets’ House Hackerz and the Denver Real Estate Investing Podcast.
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