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Colorado Property Management

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Colorado property management

Regions we will soon be serving in Colorado

Regions we serve in Colorado

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Colorado Property Management

$5,000 Rental Income Guarantee

Your residents could lose their income at any time, which could impact your steady rental cash flow. This Rental Guarantee program is unique from others you will find as it actually covers up to $5000 in risk of rental loss.
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Colorado Property Management

$2,500 Pet
Guarantee Plan

Over 80% of rental prospects own a pet. Pet friendly properties lease 10 days faster and have a 4% lower vacancy rate. But you might want assurance that your pet friendly rentals are protected from pet damage. Under Mynd’s Pet Guarantee Plan, Mynd will cover damages up to $2500.
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Colorado Property Management

$5,000 Eviction
Protection Plan

If your resident is unable to pay rent, you may need to evict them. This could be a very costly process. Under Mynd’s Eviction Protection Plan, we cover the court costs and legal fees up to $5,000, making sure your cash flow is steady and protected.
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The best Colorado property management

Mynd is an investment in your investment. Our Colorado management services improve your rental property and make placing a qualified tenant easier. Then we help you use your rent collection income to build a nationwide rental investment portfolio, invest your rent collection profits back into your rental property, or anything else. It’s your call!
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Colorado property management Knowledge Center

If you want to know as much about property management as a property manager with a real estate license, then our property management and investing resources are for you!
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Our Colorado property management offices

Denver Property Management

100 Fillmore St.
5th floor
Denver, CO 80206

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Frequently asked questions
Can you evict a tenant without a lease in Colorado?

Yes, how long a tenant can stay after a lease expires is up to you. In Colorado, a renter who is doing a month-to-month lease is required to be given 21 days notice to move out before the eviction process can begin.

What should I expect from a rental management company?

From Loveland to Fort Collins and from Colorado Springs to the Denver metro area, Mynd has reasonably priced packages in Colorado starting at $79 per month, which gets you the following services (in general, you should expect to pay eight to 12% of collected rent as a property management fee).

  • 24/7 Emergency Support
  • Potential tenant screening
  • Dedicated portfolio manager
  • Digital leasing
  • Interact with your homeowner association if there is one
  • Electronic security deposit and rent collection
  • Financial reporting
  • Property inspections
  • Legal and compliance
  • Online portal
  • Qualified Tenant placement
  • Prospective tenant screening
  • Handling repairs, inspections, and every maintenance request
  • And more

Do I need a license to rent my house in Colorado?

In Colorado, a professional property manager must obtain a real estate license because their activities are considered real estate activities according to the Colorado Real Estate Commission’s (CREC). The one exception is that you don't need a real estate broker's license if you're a property manager that lives on-site in a condominium or apartment building, are salaried employees, and don't negotiate lease terms. Although, such property managers can still do a lot of what we associate with real estate activity, like processing rental applications and showing units.

Who are the best property management companies in Colorado?

Mynd believes that we’re the best Colorado property management company, but don’t take our word for it! Due diligence is necessary to find the best property management services.

  • Ask for references.
  • Consult the Department of Consumer Affairs
  • Have in-depth talks with prospective residential property managers.
  • Check out online reviews from multiple sources.
  • Request internal client satisfaction scores.
  • The property management company manages tour rental units.

If a property management company has complaints against it that the company resolves, then that’s a sign of humility and a commitment to professionalism. Nobody’s perfect, and that includes property management companies. 

How often do landlords have to replace the carpet in Colorado?

The Colorado Department of Housing and Urban Development suggests getting new carpet every 5 to 7 years, although carpet can last 15 to 20 years given normal wear and tear. 

However, carpets can be expensive and time-consuming to clean, so one trick to speedy rental property turnover is replacing your carpet with another type of flooring, like laminate or wood.

Are landlords responsible for pest control in Colorado?

Yes, if the pests become a threat to the health and well-being of tenants, it becomes the responsibility of the investment property owner to deal with them. Bedbugs are a surprising landlord liability because the landlord may be responsible for removing them all.

Should I use a Colorado rental management company?
How much notice does a landlord have to give a tenant to move out in Colorado?

If the tenant has failed to pay rent or broken one of the lease agreement clauses, the tenant must be given ten days' notice to quit by the landlord. If the tenant fails to remedy the situation, the landlord can terminate the lease before the lease term and start the eviction

More serious violations, like committing a crime in the rental unit, require a three-day notice to quit and don’t have to provide an opportunity to remedy the situation, also known as an unconditional quit notice. If the tenant doesn't leave, then the eviction may begin.

If the tenant is living month to month, the landlord must give 21 days' notice for the tenant to move out. All of these cases of early lease termination may be preventable, allowing you to hold onto an otherwise quality tenant.

How much should I budget for rental property maintenance?

There are several ways to estimate how much you should set aside for property maintenance. 

  • 50% Rule: 50% of your monthly rental income should be saved for maintenance, taxes, insurance, etc. So, if you make $1,200 per month, save $600 for operating costs. 
  • 1% Rule: You should set aside 1% of your home’s value at the time of purchase for annual maintenance. So, a $500,000 home would require setting aside $5,000.
  • Square Footage Formula: Every square foot of property is equal to a dollar you set aside for maintenance. So a 2,500 square foot rental requires $2,500 in maintenance. 
  • 5x Rule: This rule assumes that the cost of maintenance is 1.5 times the monthly rent. So, if rent is $1,000, you should save at least $1,500 on annual maintenance. 
  • CapEx: Capital expenditures (CapEx) are big-ticket items like HVACs, roofs, etc. These items are easier to save because you know their useful life and how much they cost before they need to be replaced. 

It may cost six to 12% of the collected monthly rent to hire a property manager. That price includes the savings you get from tax deductions and economies of scale, which allows residential property management services to reduce the costs of labor and materials because they’re able to leverage the scope of their projects during negotiations. 

How do I make my house in Colorado a rental property?

Before you make your home rental property, you’ll have to know what a full-service property manager does because you’ll be doing those things yourself. Are you ready to take on responsibilities like maintenance and repair, prospective tenant screening, bookkeeping, maximizing tax deductions, emergencies, evictions, etc.? 

Next, you have to check your mortgage to make sure you’re allowed to rent it out, get landlord insurance, decide on whether or not you want a legal entity, and, if so, what kind. After that, you need to figure out what to charge for rent, make an operating budget, make the place attractive to qualified renters, master the law, write up a lease agreement, screening qualified renters.

Where does Mynd offer Colorado property management services?

Mynd Property Management services the following areas of Colorado, including:

And more cities that are coming soon!

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