DenCo Property Management Blog

Tax Write-Offs for Denver Residential Properties

September 20, 2017

Did you know that as a homeowner, you may be eligible for certain tax deductions? This is also possible if you own rental properties or vacation homes as well. Given how big of an investment a home or property is, it is important to take advantage of tax benefits to help you put more money back in your pocket. Learn more about the different basics of tax write-offs on Denver residential properties, what exactly you can write-off on a home purchase, and other benefits of owning properties.

Basics of Tax Write-Offs

A tax write-off is a deduction that a person paying taxes can take off of their gross income that is reported on tax returns. Each deduction you are eligible for is then taken off your reportable income. For many Americans, they choose a standard tax deduction. The standard deduction is a flat rate that anyone can take and is based off a few factors. Those who have certain situations with eligible write-offs, can choose to file taxes through itemized deductions. One can take advantage of itemized deductions for things like medical expenses, interest on retirement or other investments, donations to charity, and for homes, real estate taxes, mortgage interest and more.

What You Can Write-Off from Home Purchase

As a homeowner, you can write-off your mortgage interest on your upcoming tax return. In addition, you can also write off property taxes as well.  In addition, as a homeowner or future owner, you can also write off closing costs too.  Closing costs cover your appraisal, application and other fees. For those who are unable to negotiate a seller to cover those, this is a way to help with the investment. In order to take advantage of these tax write-offs on your home or home purchase, you will file a Schedule A during tax season. This is something you can work with a local accountant to take advantage of these benefits.

Other Benefits of Owning Properties

For those looking for residential property to invest in, it is a great alternative way to make money. While it takes time up front, and is an investment, it can yield  long term gains. In addition to your tax write-offs for being a property owner, you can also write off depreciation of a property on your taxes. It is important to keep in mind that renting out properties requires customer facing qualities. If you are interested in the investment but would like to have help working with tenants, a property management company can help. They can take over several parts of the process for you. Interested in learning more about owning a property? Learn more about the five benefits of investing in an income property from The Balance.

To help you manage your investment in residential property, DenCO Property Management and Sales will help. Our team of experts will give your property the individual attention it deserves and provide excellent service to future and current tenants. We aim to help you make the most out of your financial investment. Be sure to check out our tips for working with your Denver real estate tenants and using a property manager. To see how we can help you, call us today at 303-722-9688.

Fabulous Denver Apartment - Newly Renovated!

570 Downing Street, Apt 4

Don’t miss out on this fabulous Denver rental property in the Country Club / Alamo Placita neighborhood of Denver, Colorado. 570 Downing St #4 is a newly updated apartment of 2 bedrooms and 1 bathroom, a fantastic kitchen with granite counters, stainless steel appliances and a gas range. This is not a cookie cutter apartment but a uniquely charming place to call home. This rental is an ideal location near to the conveniences of 6th Avenue including the Esquire Theatre, Safeway, restaurants such as Fruition, Table 6, and Angelo’s Taverna, and on bus routes. Close to Cheesman Park. 2-car detached garage included, utilities paid, shared yard.

Be the first to live in this charming Denver apartment since it’s renovation! Call 303-722-9688 or email David Schmidt Property Manager at DenCO Property Management and Sales.

5 Ways Colorado Property Management Will Help Your Investment Real Estate

September 6, 2017

Whether you are new to investment real estate, or you have owned properties for years, there are many benefits to using Colorado property management. As you look for ways to become more efficient with your rentals, it is important to know what a property manager can offer. In the long run, it can save you valuable time and dollars. Learn how a property management company will help you run your rentals through their expertise, marketing efforts, ability to find the right tenants, quick turnaround time on rentals, and the ease of maintenance.

Expertise and Knowledge

When it comes to the ins and outs of property management, there are many puzzle pieces to become familiar with. There are many laws to follow and appropriate paperwork that is needed when bringing in a tenant. For new property owners, or even seasoned ones, taking advantage of a property manager to handle these day-to-day and long-term legalities, such as screening, collecting rent, inspections, evictions, etc., could protect you in the long run.


Unless you have a degree or experience in marketing, there is a large chance you are missing out on prime opportunities. Marketing your rental properties is key to having them rented quickly. When using a property manager, they have the knowledge on where to promote and advertise your rental to ensure it is rented. This can include print and online advertising, which is essential to exposing your property to others.

Finding the Right Tenants

As you review tenant applications, it is important to choose the one that you can rely on to take care of your property. You will also need this person to be able to pay on time. A property manager knows exactly what to look for when it comes to their credit report, history, references, and more. By getting this right, you will have reliable tenants that will help to keep your rental be a great return on investment.

Quick Turnaround on Rentals

Once a tenant moves out of a property, there is much to be done. There needs to be an inspection done to review the condition of the property, appliances, etc. Next, you will have to give the property a thorough clean to make it presentable to prospective tenants. This can be a lengthy process, especially if you have a separate full-time job. When counting on a property manager, their full-time job is making sure your rental is profitable. The turnaround time between tenants is much quicker.

Ease of Maintenance

When owning a rental property, usually the property owner is responsible for any maintenance or repairs needed. If you are unfamiliar with a problem to fix, it can become costly to hire someone to review an issue. When working with a property manager, you will have an entire team ready to help fix any issues.

Overall, when hiring a property manager, you are giving your tenants the best customer service they can receive. The reasons listed here are just a few of the reasons you need a property manager. For a property management and sales company you can trust with your rentals, contact DenCo. Review our information for Denver property owners to see an extensive list of services that we provide. To get started, call us at 303-722-9688.

Cleaning and Preparing Your Rentals: Top Tips from Colorado Property Management

August 23, 2017

Once a tenant moves out of one of your rental units, or you have purchased a new one to make available, it must be habitable by new tenants. Prior to putting the unit on the market, it is important to get it in premier shape—which will also help you as a property owner in the long run to last longer and grab attention. Learn more tips on how to clean the inside of your rentals, outdoor cleaning tips, and how to attract renters through Colorado Property Management.

Indoor Tips

For new or existing rentals, once ready to clean, you will need to go through every surface. This covers everything from cleaning carpets to wiping down refrigerator shelving or the cabinets. In addition, make sure you are replacing the furnace filters in the home. Ideally, these need to be changed every three months, which is something you can work with your tenants for a schedule. This will help reduce the amount of dust, pollen and other particles floating around in your rental. As you are cleaning the unit, walk through and check the condition of the appliance. Make sure they all work properly. This includes items such as ceiling fans and lighting. If any is broken, now is the time to fix them. For help cleaning your unit, you can always consider a professional cleaner or property manage service.

Outside Work

Making sure your rental is appealing outside is key. Curb appeal and first impressions are everything. First, power wash the siding of the home to remove any dirt or debris. If the home has wood siding that is cracking and peeling, you will need to take time to paint and fix those imperfections. It is also crucial to inspect the roof. Make sure the gutters are clear of any twigs or debris that can hinder them from doing their job. As for the roof, make sure there are not any missing or cracked shingles. Last, make some enhancements to the landscaping if it is non-existing or in poor shape. With time being money, take advantage of HGTV’s eight budget curb appeal projects to help stay budget friendly.  

Attracting Renters and Renting Units

Once your rental unit is clean and the outdoor of your home is more attractive to buyers, it is time to get your home back on the market. Make sure you advertise in the area and also review other rentals in the area to make sure your unit is comparable. It also helps to make things convenient to renters, such as automatic, online bill pay.

As you look to rent out your next unit, keep in mind that DenCO Property Management and Sales has you covered. No matt what your need is along the way, utilizing their services will help. A property manager will act in your best interest, handle your market research, assist with the financials, and more. All staff will be friendly and welcoming to also help to attract renters. Read more information for Denver property owners to see what DenCO can do for you and your rental.

3 Ways to Make Sure Your Residential Investment Property is Profitable

August 9, 2017

Do you currently own a residential investment property, or would like to? This is a great way to earn an additional income and see long term growth. However, as an investment property owner, it is important to think about your bottom line. Every dollar and upgrade counts. This is why it is best to make sure you are on top of everything and have looked at every avenue to make sure your rental is profitable. To get started, learn some of the best ways to become profitable through the area you have rentals to home improvements. It is also important to know the benefits of a property manager.

Tips for the Area

As you begin your search to find a residential property to invest in, finding the right area and hitting a few other marks is key. First, you want to find an area that you know will attract long term and reliable tenants. Look to neighborhoods that are either established or up-and-coming. The great thing about up-and-coming areas is that you are almost guaranteed to make a great return on your investment once the area becomes a hot commodity. Next, think about how much property taxes will cost in the area and how that will factor into your budget. Last, look at your competition. Before setting on your prices, do your market research to make sure you are comparable to other rentals—but profitable at the same time. More tips are covered in the top 10 features of a profitable rental property.

Home Improvements

In order to be profitable, you will need to have a home that’s attractive to prospective tenants. After doing your market research, you will know what is being offered and how much they cost. If other homes and rentals in the area have upgrades, such as stainless steel appliances, granite counters, hardwood flooring, etc., it is important to either do the same or price your unit properly. Next, before tenants move in, do your best effort to repair any damage before opting to replace anything. This will help with cost savings. For long term savings, consider investing in energy efficient appliances and features with the energy-star rating. From appliances to faucets, a few small changes can really add up over time.

Benefits of a Property Manager

When you become a landlord, there is so much work to be done. Not only will you have to prepare the house, make any needed repairs, clean, etc., but you will also have to market it, rent it, and then maintain it as needed. The process starts all over again when a tenant moves out. To help you manage your property, consider working with a property management company. They can assist with any step in the property management process and allow you to be as hands-off as you need to be.

Trust the knowledgeable experts at DenCo Property Management. When you finalize your investment, be sure to read these tips for working with your Denver real estate tenants and using a property manager. To get started, DenCO Property Management and Sales can help. Call us today at 303-722-9688 to get started.