A good manager protects your cash flow and keeps you legal. A bad one costs you tenants, repairs, and fines. These are the questions that separate them.
1. Do They Handle Denver Licensing?
Denver's residential rental license requires an inspection, an application listing each unit, and renewals. Ask who handles it, what it costs, and how they track renewals.
2. How Is the Manager Licensed?
Ask who the licensed broker is and verify the license through the Colorado Division of Real Estate. A manager should be able to tell you plainly how they are licensed and who is responsible for your funds.
3. What Do Owner Statements Look Like?
Ask for a sample. You should see income, expenses, and the net you are paid, every month, with enough detail to audit.
4. Who Approves Maintenance Spending?
Look for a written approval limit. Small repairs should not wait on you, and large ones should not happen without you.
5. How Are Fees and Vendor Costs Structured?
- Management fee: percentage or flat, and what it covers
- Leasing fees for new tenants
- Renewal fees
- Any markup on vendor work
- Charges when a unit is vacant
6. How Do They Handle Deposits and Rent?
Ask where funds are held, how quickly you are paid, and how deposits are documented at move-in and move-out.
7. How Do Tenants Reach Them?
Ask about response times, after-hours emergencies, and who actually answers.
8. What Does It Take to Leave?
Read the termination clause. Long lock-ins and heavy exit fees are a red flag.
Red Flags
- Vague answers about licensing
- No sample owner statement
- Pressure to sign quickly
- Promises of guaranteed returns
- Offering short-term rental management at a Denver investment property
MorHaven answers each of these in writing before you sign. See how our multifamily management works →
Frequently Asked Questions
How do I verify a Colorado real estate broker?
Use the license lookup from the Colorado Division of Real Estate to confirm that a license is active.
What size property is worth hiring a manager for?
It depends on your time and location more than unit count. Many owners of duplexes and fourplexes hire managers because they work full time or live elsewhere.
This article summarizes publicly available City and County of Denver information and is not legal advice. Rules and fees change, so confirm current requirements with the city before acting.