The Top 3 Challenges Denver Property Managers Face All the Time

While getting a decent return on residential properties involves little effort, managing these properties is a whole different story. Being a good property manager can be challenging, requiring patience, legal knowledge, and years of real estate experience.

Denver property managers

Property managers encounter numerous challenges every day. The three most common of them are detailed below.

  1. Collecting rent

The most crucial aspect of a property manager’s job is collecting monthly rent and ensuring tenants have sufficient credit to pay their rent on time. Furthermore, according to the U.S. Census Bureau, more than one-fifth of single-family tenants fell behind on their monthly payments at some point in the last couple of years. Evictions can take quite a long time, which means you may lose rental income for months while the process is underway.

  1. Rehabbing the property

Renovating or rehabbing the property after a tenant has left can be more costly than you might think. Top notch Denver property managers often supervise the entire process after finding and contracting the required professional services (contractors are in high demand in today’s market, and smaller, single-family rehab projects are sometimes the lowest priority for the most significant construction firms).

  1. Providing excellent customer service

Dealing with tenants requires time and resources. Property managers must be available to answer their questions and concerns and ensure they understand the contract. Unhappy tenants may leave bad reviews and negative word of mouth, which can harm the image of the property owner. Property managers must do their best to prevent this.


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