Property owners are now expressing concern over the detrimental impact that those individuals are having on their income. Recently, Denver has made great strides to assist by creating villages of tiny homes and opening shelters; however, while the intentions are commendable, property management professionals and property owners are now claiming that the increasingly growing homeless population in the area is resulting in numerous difficulties in attracting tenants. And its taking a toll.
Property owners in Denver are starting to claim that alleyways are becoming a “toilet” of the homeless population. Those seeking to attract tenants are observing the homeless creating fires, engaging in illegal drug activity, attempting to shower, and creating a horrendous stench in and around legitimate properties that are currently available for rent – such as duplexes, apartments, and condos.
Many tenants – especially those that are elderly, live alone, or have children – are starting to go elsewhere for housing. In May of 2017, Denver created and launched a program that would help the homeless with housing, training for the workforce, and health care services. In total, more than $47 million was spent on this endeavor. Unfortunately, it is costing even more – especially for property owners seeking to rent out and lease their units in and around the city.
HOPE for Homelessness
Michael B. Hancock created an office referred to “HOPE” – which stands for Housing and Opportunities for People Everywhere. He worked with the Commission on Homelessness in the Denver area in order to serve and assist those that are homeless. While the reform has a commendable goal, it is resulting in numerous complications for property owners. The actions that are associated with HOPE for homelessness include – but, are not limited to – the following:
- Creating a Tiny Village
- Improve Shelters
- Develop Permanent Housing
- Expand Facilities Focusing on Respite Care
- Expand Utility Assistance
- Expand Health and Safety Measures for the Homeless
- Financing of Dwelling Units in Conjunction with Denver Housing Authority
- Neighborhood Investment Programs
- Development of Support Services and Funding Through TANF and Medicaid Underwriting
- Home Preservation for Gentrifying Areas
While HOPE is on the road to ensuring that the area’s homeless have the best options available to get back on their feet, property owners and/or Denver property management professionals are finding that the situation is resulting in financial losses. For those detrimentally impacted by the situation, contact should be made with HOPE in order to learn about and acquire resources that will allow optimal success in preserving the reputation and financial livelihood of properties in areas that are undergoing the gentrifying process.
For more information on successful property management and ownership, visit our property management tips page today by visiting the following link: https://rentmedenver.com/property-management-tips/