Property Management Companies in Denver: Your FAQs

A property management company in Colorado handles tenant screening, rent collection, maintenance, and legal compliance for a fee of 8% to 10% of collected rent, plus a leasing fee equal to 50% to 100% of one month's rent. For an owner who does not want the 2 a.m. call about a broken furnace, that fee buys back time and keeps the property compliant with Colorado's landlord-tenant law.

Here are the questions Denver metro, Colorado Springs, and Aurora landlords ask most before they hire one.

What does a property management company do in Colorado?

A property management company markets the vacancy, screens applicants, collects rent, coordinates maintenance and repairs, enforces the lease, and handles the eviction process when it comes to that. Most Denver metro companies also produce monthly owner statements and year-end tax documents, and many now offer an online tenant portal for rent payment and maintenance requests.

How much do property managers charge in the Denver metro?

Expect a monthly management fee of 8% to 10% of collected rent, or a flat $99 to $250 a month on lower-rent units. A separate leasing or placement fee, running 50% to 100% of one month's rent, covers marketing and tenant screening for a new lease. Renewal fees run $100 to $300. Ask for the full fee schedule in writing, including what happens during a vacancy month with no rent collected.

Is a property management company worth the cost in Colorado?

For an owner who lives more than an hour from the property, owns more than one rental, or does not want direct contact with tenants during a dispute, the fee is worth it. An owner who lives near the property, enjoys maintenance work, and has time for showings and screening can self-manage and keep the 8% to 10%. Run the math on your own hourly rate against the fee before deciding.

What can a Colorado landlord screen a tenant for under HB 23-1099?

Colorado's HB 23-1099 limits how far back a landlord can look at criminal history and bars denial based on an arrest that did not lead to a conviction or on most sealed and expunged records. A property manager who works in Colorado daily keeps the screening criteria current so a denial does not turn into a fair-housing complaint.

How fast must a Colorado landlord return a security deposit?

Colorado law (C.R.S. 38-12-103) sets the deadline at 30 days after move-out, or up to 60 days if the lease states a longer period. A landlord who withholds a deposit without an itemized, written reason risks a tenant lawsuit for up to three times the wrongfully withheld amount plus attorney fees. A property manager documents move-in and move-out condition with photos to avoid that dispute.

Does Denver require a rental license?

Yes. Denver requires every long-term rental unit to carry a rental license, renewed on a set schedule, with proof of a passed inspection. Colorado Springs and Aurora have their own registration and inspection rules that differ from Denver's, which is one reason an owner with rentals in more than one city hires a manager who already tracks each city's requirements.

What is the 2024 Colorado for-cause eviction law?

As of 2024, a Colorado landlord needs one of a specific list of reasons to end a tenancy or decline to renew a lease once a tenant has lived in the unit past the initial lease term; non-renewal without cause is no longer automatic. A property manager builds notice periods and lease-end timelines around this law so an owner does not send an unenforceable notice.

What does the Colorado warranty of habitability require?

Colorado's warranty of habitability requires a landlord to keep the unit's heat, plumbing, electrical, and structural systems in working order and to make repairs within a set number of days after written notice. A furnace failure in a Front Range January falls squarely under this law, and a property manager's after-hours maintenance line exists mainly to meet that deadline.

Do property managers handle Colorado Springs and Aurora rentals the same way as Denver?

The core services are the same, but rental licensing, inspection cycles, and local ordinances differ by city. A manager who works Denver, Colorado Springs, and Aurora rentals keeps a separate compliance checklist for each city rather than applying one set of rules everywhere.

What should an out-of-state owner look for in a Denver property manager?

Ask for the trust-account statement format, the maintenance markup, the average days-to-lease for their current portfolio, and references from two current owners. An out-of-state owner should also confirm the manager carries errors-and-omissions insurance and knows Colorado's deposit and habitability deadlines cold, since a missed deadline becomes the owner's liability.

Does a property manager handle HOA and metro district fees?

A good property manager pays HOA dues and metro district assessments from the trust account on the owner's behalf and forwards any HOA violation notice immediately, since a rental in an HOA or metro district can face fines for an unmowed lawn or an unapproved exterior change that the owner never sees in time otherwise.

How do property managers handle maintenance and repairs?

Most Denver metro companies keep a network of licensed, insured contractors and set a repair-approval threshold with the owner, commonly $300 to $500, above which they call before authorizing the work. Ask whether the manager marks up invoices and whether they use their own maintenance crew or independent contractors.

What is included in a property management contract?

A Colorado management agreement should spell out the fee schedule, the repair-approval threshold, the statement schedule, the notice period to cancel, and who holds the security deposit. Colorado real estate license law requires the trust account to be a separate account, not mixed with the company's operating funds, so ask where the deposit sits and confirm the manager holds an active Colorado broker's license.

What happens if a Colorado tenant stops paying rent?

A property manager serves the statutory demand for compliance or possession, which in Colorado gives the tenant a short window, commonly 10 days, to pay or move out before the manager can file in county court. Filing, service, and court dates run on a set schedule set by the court, and a manager who handles this weekly moves the case faster than an owner filing for the first time.

Can I switch property management companies mid-lease?

Yes, existing leases carry over to the new manager, who steps into the landlord's role under the same lease terms. Give the outgoing manager written notice per the management agreement, request a full accounting of the trust account and deposit balances, and have the new manager confirm the deposit transfer in writing before the switch date.

Where to go next

• Colorado Real Estate Investing Guide
• Rental Property Checklist: How to Buy a Rental Property in Colorado
• Discover Stress-Free Property Management with Kenna Real Estate Group in Highlands Ranch
• Top Colorado Short-Term Rental Property Managers
• What Should Denver Landlords Know About Winter Compliance Requirements
• Search every home for sale in Colorado

Talk to the Kenna Real Estate Group

The Kenna Real Estate Group at Keller Williams DTC works with Colorado rental owners on the buy-hold-sell decision, from picking a property manager to selling a rental when the numbers change. Call or text 303-955-4220. A live person answers. Not a robot, not a phone tree. Or search every home for sale in Colorado to see what a rental property would cost today.