The Department of Regulatory Agencies, Division of Real Estate (DORA) in Colorado last night filed for a temporary restraining order in an attempt to prevent Denver-based Mile High Management from continuing its property management business. Mile High manages tenancies for landlords, according to Zachary Urban, a spokesperson for the division, but problems began when complaints from both tenants and landlords arose concerning the company’s rent remittance practices. The department, while investigating the claims, found that Mile High doesn’t have a broker’s license in the first place, Urban said, and so the injunction filed in the 18th Judicial District stems from a more basic regulatory shortcoming. “The basic problem is Mile High is unlicensed, so we went for the easiest bite of the apple first,” Urban said. The 18th Judicial District will not comment on when the restraining order may come into effect, if approved by a judge. Urban said that Mile High is still free to operate as normal, but expects the restraining order will get approval either today or tomorrow. Currently, the website for Mile High Management only states the company is not taking on any new properties. The company, which began in February 2006, had its accreditation with the Better Business Bureau revoked in October of last year “due to failure to respond to one or more customer complaints filed with the BBB and failure to eliminate the underlying cause of complaints on file with the BBB,” the BBB’s web site states. Write to Jacob Gaffney.
Most Popular Articles
The National Association of Realtors board of directors voted 729-70 on Monday to ban the controversial practice of “pocket listings.”
Slowing home price appreciation has eroded potential fix-and-flip profits over the past year, but demand at foreclosure auctions has remained strong as buyers shift to a renovate-to-rent strategy.