How a Real Estate Business Hired a Lawyer to Draft a Property Management Agreement in Colorado (2023)

In 2023, a business in Colorado sought assistance with drafting a property management agreement and a residential lease agreement for its portfolio. The client was facing an urgent situation as their current brokerage was unexpectedly closing, prompting the need to transfer their portfolio to a new brokerage while operating independently. It was essential for the agreements to comply with the Colorado Department of Regulatory Agencies (DORA) regulations, and the client expressed a desire to find an attorney for ongoing legal guidance on property management issues. As a result, the client received three proposals from licensed lawyers, with flat fee bids ranging from $1,200 to $3,000, all submitted to complete the work within the requested deadline of less than one week.