How to be an Effective Property Manager


The job of a property manager is a challenging one. With tenants coming and going, late rent payments, and virtually endless maintenance requests, it can be the most stressful part of owning investment properties. 

The good news is, managing your own rental properties doesn’t have to be such a stressful job. With a little planning and organization, you can be an effective property manager. Below, we’ve outlined a few tips to help you do just that. 


Whether you own one investment property or several, you have to approach each problem with a positive attitude. Look at it as an opportunity to make things better for yourself and your tenants. Studies show that people who look at the bright side of things are much happier, and overall more successful, than people who always see the negative side of things. 


Since you’ll be dealing with all kinds of people on a regular basis, you need to be able to relate to them. Communication is key in this profession and being able to talk to and understand your tenants and their needs is important. 


As a property manager, you’re responsible for a plethora of paperwork and money. Even if you’re used to doing things the old-fashioned way, being an effective property manager means you embrace the new technologies that are designed to make your job easier and less stressful. 

For example, the Internet offers a multitude of ways to automate processes like rent collection, maintenance requests, communications between you and your tenants, and more.


Owning a rental property is a lot like owning a retail business. You have competition waiting in the wings to steal your tenants away with the lure of cheaper rent or better amenities. To be a successful landlord, you must research the competition to make sure your rental rates are in line with others in the area as well as to learn new ways you can improve and grow your business. 


Every good property manager understands the importance of being professional at all times. Whether with tenants, contractors, business partners, etc., an air of professionalism lets people know you’re serious about your role. 

To carry this one step further, you must be organized as well. Owning and managing one rental property may be easy, but if/when you own more than one, having an organized, efficient way of conducting business will help you be the great property manager you want to be. 


Every smart property manager has a network of other real estate professionals, contractors, and mentors he or she can turn to for assistance in managing their rental properties. Building a network like this will help you learn as you go and will be a source of support in trying times. 

Property management is a challenging profession, but with a little planning and organization, you can make it a successful career. Follow the tips above to become an effective property manager.


6 Tips to Make Decluttering Your Home Less of a Chore


There are many benefits to living a life with less clutter. For example, there is less to clean and it’s easier to find what you’re looking for. Life seems less stressful when you have less clutter around you. For some people, however, the mere thought of going through their things and getting rid of them is overwhelming. 

If you fall into this category, but you would love to free up some space and get more organized in your life, the following tips will make decluttering your home less of a chore. 


Decluttering your home doesn’t have to be a race. You don’t have to finish it all in one day. If decluttering is a new concept for you, begin by spending just five minutes a day going through stuff and marking things for donation. 

After the five minutes, pick one item and get rid of it. If you do this every day, you will get rid of 365 items in the first year. 


Everyone has clothes in their closet they never wear at all. To designate these items for donation, turn all the hangers backward on the bar. Every time you wear a piece of clothing, turn its hanger back the right way. After a few months, anything that’s not turned around can be donated to Goodwill. 

Of course, there are bound to be clothing pieces that only get worn for special occasions, so use your judgment when deciding what should go. 


Some people work better when they have a clear plan in mind. If this is you, create a list of rooms or spaces you’d like to declutter. Order your list according to which is most important and begin there. Make sure to mark completed items off your list so you can see the progress you’ve made and have the incentive to keep going. 


As occupants in a home, we often become blind to certain aspects of that home. We become desensitized to things like clutter and smell. To give you a good idea of how cluttered your home is, take a step back and look at it as if you are a guest walking into it for the first time. This practice can be quite the eye-opener in many ways. 


Social media can be a very powerful tool, especially if you are the type that likes validation for your hard work. Take before and after photos of the decluttering you do and post them on Facebook so others can cheer you on. Once you see your progress and you receive such praise, you’ll be motivated to continue decluttering your home. 


Call on one of your closest friends or family members to help you decide what stays and what should go. Have your friend designate several items for donation. If you agree, then the items go. If you don’t agree and have a good reason for wanting to keep the item, your friend has to accept your reasoning, or the item needs to go. 

Decluttering for some is just part of everyday life. For others, however, it’s a chore they’d rather not do. If you’re in the latter category, the tips outlined above can make decluttering your home less of a chore.

Pantone’s Color of the Year for 2020 is Classic Blue

Home Maintenance

You can expect to see a lot of blue next year.

Pantone announced Wednesday night that its 2020 Color of the Year is Classic Blue, a shade reminiscent of the sky at dusk.

“It’s a color that anticipates what’s going to happen next,” said Laurie Pressman, the vice president of the Pantone Color Institute, which selects the Color of the Year. “What’s the future going to bring as we move into the evening hours?”

This is indeed a pertinent question as we embark on a new decade. But as forward-looking as it may be, the 2020 color brings us almost full circle to the first Color of the Year, Cerulean, another blue hue chosen in 1999 to likewise capture a moment in time.

“We were moving into Y2K and wondering: Is the world going to fall apart?” said Pressman.

The Pantone Color Institute said it recognized similar feelings of instability gripping the world today, from the United States to the United Kingdom, Hong Kong, Syria and across the globe. It settled on a shade that offers the reassurance, confidence and connection that people may be searching for in an uncertain global milieu.

Pantone has named a color of the year for more than two decades. In 1963, the company created the Pantone Matching System, a proprietary system used in a variety of industries such as printing, graphic design and fashion design to manage colors.

There is no Color of the Year crystal ball

Each year’s color is decided through a long and thoughtful process that takes into consideration lifestyle and industry trends, said Pressman.

“Typically, trends that we see in color are reflecting big macro trends that are taking place in culture,” she explained.

Color influences can come from art, upcoming media, movies, lifestyles, socioeconomic and political conditions, travel destinations, new technology — really anything.

The name of the color is an important factor.

“If you have a color called Brown Dirt, versus Chocolate Fudge, it takes on two completely different meanings,” said Pressman. “The name really has to resonate with the message that we want to get across.”

True to its name, Classic Blue can be regal, restrained and boundless. But it can also be edgy — even anomalous — utilizing a variety of tonalities, materials and prints. (Think a new-age, Classic Blue concept car.)

Incorporate Classic Blue into your 2020

For those who want to sport the 2020 color, Pressman recommends Classic Blue accent pieces such as a scarf or watch strap, or a vase or candle for your home or workplace.

Read more on CNN.

Colorado Real Estate Market Report – Stats from December 2019

January 3, 2020
 Market Reports

Housing conditions in 2019 including scarce inventory and record-breaking prices position metro Denver as a seller’s market going into the new year.

Download the report

Download the year end report

This 2019 year-end report analyzes trends that indicate 2020 has started off as a seller’s market.

“Inventory continued to be scarce in 2019,” said Jill Schafer, Chair of the DMAR Market Trends Committee and Metro Denver Realtor®. 2019 ended with 5,037 active listings, down 9.68 percent from 2018; representing 41 percent of metro Denver’s 30-year annual average of 12,262 active listings.

For historical perspective, active listings reached their highest point in July 2006 with 31,989 listings. During that period of record highs, months of inventory stood at 6.6 months which implied a robust homebuyer’s market. The record-low month was in December 2017 with 3,854 listings. A year later, that number increased 44.7 percent to 5,577. This growth in housing inventory was due in part to sluggish sales and a higher number of new listings entering the market. According to the numbers, this trend started to reverse itself toward the midpoint of 2019 with November representing the first month in the previous 13 that showed a decrease in listings compared to the previous year.

 “The Denver metro area saw a significant increase in homes for sale in 2018, up 44.71 percent from 2017,” adds Schafer. “That prompted talk of recession and fears of another housing crash. But at the end of 2019, that pile of inventory shrunk. The main reason we saw fewer choices was not because more were going under contract or selling, but because nearly 30 percent fewer new listings came on the market in December compared to the month prior.”

According to Schafer, considering the average rate of home sales, it would take only 1.13 months to sell all single-family homes and 1.37 months to sell all condos in the Denver area. She states, “For perspective, at a peak in January 2010 we had 9.8 months of attached (condo) home inventory and 8.4 months of detached (single-family) homes. Anything under four months means sellers have the power in negotiations, while more than five months means buyers have control. We have started 2020 with sellers firmly in control.”

2019 also established a new historical high and marked the eighth consecutive year of price gains. In 2019 the average home price was $486,695 and the median home price was $420,000, up 2.85 percent and 2.46 percent respectively compared to 2018.

“Despite more price reductions, home values continued to go up in 2019,” comments Schafer. “Not at 8-9 percent like we saw earlier in the 2010’s, but up nonetheless. If you take a longer look back to get more perspective, you’ll see what a fabulous investment real estate is in the Denver metro area. The average residential close price increased 87.82 percent from 2010 when it was only $259,084.”

According to DMAR, over the last 30 years the average home price in metro Denver has increased a staggering 417 percent.

“Growth has been consistent since 1990 except during the mortgage market collapse from 2007-2009,” said Steve Danyliw, DMAR Market Trends Committee member and Metro Denver Realtor®. “This was the only time where year-over-year home prices dropped. The good news: our recovery has been one of the strongest in the nation. Our pre-recession high was 2006 at $288,916. Since that time, home prices have increased 68.6 percent. That increase is one of the highest price recoveries in the nation.”


Luxury Market Report

Our monthly report also includes statistics and analyses in its supplemental “Luxury Market Report” (properties sold for $1 million or greater), “Signature Market Report” (properties sold between $750,000 and $999,999), “Premier Market Report” (properties sold between $500,000 and $749,999), and “Classic Market” (properties sold between $300,000 and $499,999). In 2019, 2,421 homes sold and closed for $1 million or greater, up nearly 12 percent from 2018. The closed dollar volume in the luxury segment was $3.74 billion, up 13.46 percent compared to 2018.

The highest-priced single-family home that sold in December was the highest-priced home sale historically on record in metro Denver at $11,625,000, representing six bedrooms, 11 bathrooms and 15,473 above ground square feet in Englewood. The highest-priced condo sale in December was $2,250,000 representing four bedrooms, four bathrooms and 3,152 above ground square feet in Denver. The Realtors® representing the buyers and sellers in both transactions are DMAR members. Notably, the highest-priced condo sale in 2019 was in January at $10,750,000 representing three bedrooms, five bathrooms and 6,295 above ground square feet in Denver.

The Luxury Market was the only housing segment to see a year-over-year decrease in average and median days on market. Homes priced $1 million and up saw a decrease in average days on market from 68 in 2018 to 60 in 2019, down 11.76 percent, and has notably been decreasing since 2015 when it stood at 87 days.

“Overall, the Luxury Market has 4.06 months of inventory for single-family homes and 2.26 for condos – that’s more than any other housing price segment,” stated Taylor Wilson, DMAR Market Trends Committee member and Metro Denver REALTOR®. “That kept the list-price-to-sales-price ratio around where it has been since 2015 when it was 96.87 percent at its lowest, compared to 97.31 percent at its current and highest.”

2019 had a staggering 56.52 percent increase in the sale of luxury condos priced $1 million and over compared to the previous year, from 184 to 288.

According to Wilson, “This is no doubt a result of the many infill developments of $1 million-plus duplex and multi-unit projects; however, single-family homes still make up 88 percent of the sales for homes priced over $1 million.”

Furthermore, in 2019, condos spent an average of 12 fewer days on the market compared to that of single-family homes, though the average sales prices were close.

Download the report

Download the year-end report thank you as always to our partners at the Denver Metro Association of Realtors for compiling and sharing this information.

Welcome to a New Decade and New Real Estate Trends

January 3, 2020

New decade, new real estate trends.

Just as many of us choose to make some changes in our lives come the new year, the housing market is expecting to see some changes in how people are buying and selling homes in 2020.

As many baby boomers choose to downsize from larger to smaller homes, millennials are becoming one of the largest pools of homebuyers, with many of them seeking features that align with their values and lifestyle goals.

As the baby boomer generation prepares for its next step, many of this generation may choose to downsize from their large homes to smaller houses, leaving behind a wave of homes on the market. This phenomenon is being called the “silver tsunami.” This is a trend that is expected to bring more than roughly 920,000 homes onto the market each year between 2017 and 2027, according to an article by MarketWatch.

The newly listed homes will likely be purchased by millennials, which refers to people between the ages of 23 and 38, who are quickly becoming one of the largest pools of homebuyers. According to the National Association of Realtors and Sellers Generational Trends Report, millennials comprised 37% of homebuyers in 2019. In order to market homes to this new homebuyer profile, it is important to understand who they are and what their priorities are.Search Homes for Sale in Colorado

Many members of the millennial generation are more concerned with finding homes that have features that align with their own personal values and lifestyle goals. And although more millennials are beginning to purchase homes, their ideal homes may be different from the homes that baby boomers are exiting.

What’s more, the millennial generation that was once known for clinging to urban areas is now creating its own happy medium between city and suburb, dubbed “hipsturbia.” This newly coined term is defined as smaller, suburban communities with more single-family homes paired with ideal access to shopping, dining and entertainment options.

What does this mean for metro Denver? Well, seeing as though millennials represent 23.7% of Colorado’s population, according to a report by 9News, there may be more demand for homes in the 54 neighborhoods that make up metro Denver. Areas that are outside of downtown but not far from the action such as Greenwood Village, Lakewood and Aurora could be the next “hipsturbias.”

Total properties sold in metro Denver through November of this year as compared to through November of last year rose by 3%, supporting the statement that more homebuyers are showing interest in these neighborhoods that provide the best of both worlds.

Keep reading at the Denver Post.

Start that College Fund Early, Courtesy of the State of Colorado

December 31, 2019 
Stacie Staub

Every baby born or adopted in Colorado can get a $100 contribution to a college savings account, thanks to a new program that goes into effect Jan. 1.

CollegeInvest is Colorado’s not-for-profit state agency that helps people break down the barriers blocking them from attaining a higher education. Gov. Jared Polis partnered with CollegeInvest to launch First Step, which, starting Jan. 1, 2020, offers a $100 contribution to the child’s CollegeInvest 529 college savings account.

Money saved in this account can be used at any public or private college, university, community college or vocational school anywhere in the country. First Step was created to help Colorado families save for their child’s post-secondary education, to nurture their aspirations for a higher education and to help reduce student loan debt, particularly for lower- and middle-class families.

CollegeInvest CEO Angela Baier said every dollar counts when it comes to education.

“Opening a CollegeInvest 529 college savings account for a child at birth allows more time for savings to accumulate and interest to accrue,” she said. “And, we know that having a college savings account has significant impact on the development of college-bound identity, especially among children of limited opportunity.“

Legislation for this move was passed with bipartisan support in 2019 and HB19-1280 was officially signed into law in May.

Polis said CollegeInvest is a critical tool for parents saving for their child’s education.

“This new law will incentivize the use of these tools by providing birth or adoptive parents with $100 to kick start their child’s savings,” he said.

“We know that students with some college savings from low- and middle-income families are three times more likely to enroll in college and four times more likely to graduate than those without a 529 plan. I appreciate the support of Representative (Leslie) Herod, Senator (Steve) Fenberg, Speaker (KC) Becker and other state legislators as well as their efforts to get this important bill passed.”

Herod, who was the primary sponsor of the legislation, said First Step is a “down payment on the future of our state.”

This one-time $100 contribution is only available to children born or adopted in Colorado starting on Jan. 1, 2020. To learn more, call 1-800-448-2424 or visit the CollegeInvest website.