For decades, Denver has captured the imaginations of people across the country, luring in new residents who dream of skiing or hiking on the weekends. A thriving metro area of more than three million with picturesque views of the Rocky Mountains, Denver offers the benefits of living in a city and the beauty of living in close proximity to nature, making it a popular spot for Colorado natives and transplants alike.

But as developers rushed to keep up with the demand for rentals in Colorado’s capital city, supply has surged, leading to an increase in vacancy rates for apartments across the metro area, according to The Denver Post. Nearly 20,000 apartments were added in 2024 — about double what had been seen in previous years — and although there continues to be strong demand for rentals, landlords must be competitive to stand out in this market.

After all, vacancies can be a severe blow to a landlord’s business: If a rental listed for the metro area’s average rate of $1,842 sits vacant for just six months, that’s a loss of $11,052. That’s why an effective Denver property management strategy is essential. Whether you own a house in the suburbs or a trendy apartment downtown, a strong lead generation pipeline can help you maximize your investment in the Mile High City.

Understanding the Denver Rental Market

The Denver metro area is a sprawling region made up of dozens of suburbs across 10 counties — and accordingly, its demographics vary widely. That can make it difficult to understand the Denver rental market, but no matter which side of Denver you’re on, there are lots of residents who could be prospective tenants.

However, vacancy rates are a real threat in Denver as supply outpaces demand. The Denver metro area’s highest apartment vacancy rate in the fourth quarter of 2024 was in Denver County, at 7.5%, followed by Adams and Arapahoe counties at 7.2%. Some neighborhoods saw even higher rates, such as Denver’s northeast side, which had a vacancy rate of 9.3%.

Denver’s rental market temperature is warm, Zillow says. That means Denver’s market has moderate renter demand, leaving plenty of opportunity for savvy landlords eager to find a competitive edge.

Nationwide, more rentals become available in the summer, appealing to tenants who want to move before colder weather comes and school starts for children in the fall. In Denver, demand from some rental demographics may be more seasonal than others, such as college students at one of the local universities — including University of Denver and University of Colorado Denver downtown — seeking new apartments before school begins in the fall.

Online Lead Generation Strategies

Many renters begin their search for a new home online, so it makes sense that some of the best lead generation strategies start on the internet, too. To give yourself an advantage, it’s essential to optimize your rental listings on popular websites like Zillow, Apartments.com and Craigslist. Take attractive, high-quality photos and write a detailed property description to appeal to people shopping online for their next rental.

You can also draw on your photography skills to promote your listings on a variety of social media platforms, including Facebook Marketplace, Instagram and even local online community groups.

Offline Lead Generation Strategies

For the best chance of success, it’s important to take your lead generation strategies offline, too. One way to do that is by building relationships with people in your community who work in real estate or adjacent fields. Networking with local real estate agents or relocation services is a great way to discover new leads, because they could refer people seeking rentals to you. Another great source of referrals is current tenants: You can encourage your renters to refer their friends and family by offering a cash incentive. Don’t discount the power of old-school methods, either — posting flyers in community centers, coffee shops or local businesses is a great way to advertise your properties.

Compliance with Denver Rental Regulations

In addition to the work of finding a tenant and managing your property, as a landlord, you have a responsibility to comply with all state and local rental laws and fair housing regulations. In all marketing and communications with your tenants, you must ensure that you’re maintaining transparency and ensuring legal compliance.

There are Colorado laws that apply to your search for a renter and during the tenant’s stay on your property, and although the legal side of the business might seem complicated, staying up to date on the latest local legislation is essential to protect both yourself and your tenants.

In Colorado, people are protected from housing discrimination based on a variety of characteristics — such as disability, sexual orientation or marital status — by the Anti-Discrimination Act. Many routine aspects of property management, including application fees, security deposits and the eviction process, are also regulated by state law. 

The city of Denver has additional laws that landlords must follow, including a city ordinance requiring a residential rental property license.

Hiring a Denver Property Management Company to Manage Lead Generation for Rental Properties

Being a landlord isn’t for everyone — it can be difficult and time-consuming, from the long days maintaining the property to the challenge of finding great tenants. That’s why many prefer to outsource lead generation to a local property manager with expertise in the Denver rental market. With a Denver-based professional on your side, you can save time and ensure faster tenant placement.

A local property manager can leverage their network and marketing channels to find quality tenants quickly. They can provide a variety of services, including listing, tenant screening and leasing.

Although a property manager can be a valuable partner in your journey as a landlord, it’s  important to select someone you trust to manage your property. Consider these tips for selecting a reputable property manager in Denver:

• Verify the property manager or property management company’s licensing and local market experience

• Check online reviews and client testimonials

• Compare fees and services offered

Lead Generation for Rental Properties in Denver

There are a variety of strategies you can leverage to fill your Denver properties quickly, from optimizing your rental listings on websites such as Zillow to building relationships with people in your community who work in real estate or adjacent fields, such as real estate agents and relocation services. For maximum reach, consider combining online and offline tactics — by leveling up your strategy, you can reduce vacancy periods in your rentals and boost your rental income.

Interested in learning how a trusted Denver property management company with local expertise could make the process a breeze? Contact Evernest today to learn more!