An increase in the number of home foreclosures has led to another housing-related phenomenon: the rise of the accidental landlord. These are the folks who buy foreclosed properties and instead of moving in, rent them out to tenants as a way to make money. But sometimes, says Nancy Burke of the Apartment Association of Metro Denver, there's a catch.
Accidental landlords, she says, often don't know the technical (and legal) details of renting. Those may include the ins and outs of housing laws, how to process an eviction or how to run a credit check on a prospective renter. "Not to point a finger, but these guys are going to make some mistakes," says Burke -- and those mistakes then reflect poorly on more-established landlords, such as those who belong to the association.
Hence, "Landlord 101," a class being offered by the association at 1 p.m. tomorrow at the Scheitler Rec Center in northwest Denver. (Click here for more details.) The location is deliberate; Denver city councilwoman Susan Shepherd, who represents that part of the city, is helping to present the class after hearing several constituents complain about accidental landlords.
And statistics show that the trend will likely continue. Burke cites one stat that predicts ten million more renters nationwide by 2015 -- which means more landlords too.
"We're just excited to do these classes. We just want to be team players out there in the community and offer something and hope it benefits the whole housing market in general," Burke says. "I'm really pumped up about these."
More from our Business archive: "Video: John Baker, homeless singer in Aspen, seeks TV and movie deals."
Keep Westword Free... Since we started Westword, it has been defined as the free, independent voice of Denver, and we would like to keep it that way. Offering our readers free access to incisive coverage of local news, food and culture. Producing stories on everything from political scandals to the hottest new bands, with gutsy reporting, stylish writing, and staffers who've won everything from the Society of Professional Journalists' Sigma Delta Chi feature-writing award to the Casey Medal for Meritorious Journalism. But with local journalism's existence under siege and advertising revenue setbacks having a larger impact, it is important now more than ever for us to rally support behind funding our local journalism. You can help by participating in our "I Support" membership program, allowing us to keep covering Denver with no paywalls.