A former Aerowood-managed property at 610 Logan St. in Denver. (Google Maps)
A property manager in Centennial has agreed to hand over her real estate license and pay $32,000 in fines after she was found to have engaged in “dishonest dealing.”
Ellie Reimer, who ran Aerowood Property Management, reached an agreement with the Colorado Real Estate Commission on May 7. In exchange to having Reimer surrender her license, the commission will close its active 20 investigations into Reimer, the agreement states.
“The Real Estate Commission has strict requirements for how real estate brokers and real estate companies handle the funds of others,” Marcia Waters, director of the Colorado Division of Real Estate, said in a press release about Reimer’s punishment.
“In addition to keeping monies in an escrow account, real estate brokers cannot use those monies for anything other than approved client expenses. Under no circumstances can client funds be used for the broker’s own personal gain,” Waters said.
In addition to relinquishing her license, Reimer also agreed to never re-apply for one.
“My attorney advised me to say nothing,” she said when reached for comment Tuesday.
The five-page settlement between Reimer and the CREC lacks specificity about her wrongdoing but states that she “has demonstrated unworthiness or incompetency to act as a real estate broker by conducting business in such a manner as to endanger the interest of the public” and that she “engaged in conduct which constitutes dishonest dealing.”
Reimer and Aerowood have been sued four times this year in Arapahoe County by property owners who accuse them of running off with a combined $40,000 in rent payments. Aerowood has a one-star rating with the Better Business Bureau.
“We were with Aerowood for about two years. The second year we noticed shortages in rent payments owed to us,” one BBB review claims. “Ellie always had an excuse.”
A former Aerowood-managed property at 610 Logan St. in Denver. (Google Maps)
A property manager in Centennial has agreed to hand over her real estate license and pay $32,000 in fines after she was found to have engaged in “dishonest dealing.”
Ellie Reimer, who ran Aerowood Property Management, reached an agreement with the Colorado Real Estate Commission on May 7. In exchange to having Reimer surrender her license, the commission will close its active 20 investigations into Reimer, the agreement states.
“The Real Estate Commission has strict requirements for how real estate brokers and real estate companies handle the funds of others,” Marcia Waters, director of the Colorado Division of Real Estate, said in a press release about Reimer’s punishment.
“In addition to keeping monies in an escrow account, real estate brokers cannot use those monies for anything other than approved client expenses. Under no circumstances can client funds be used for the broker’s own personal gain,” Waters said.
In addition to relinquishing her license, Reimer also agreed to never re-apply for one.
“My attorney advised me to say nothing,” she said when reached for comment Tuesday.
The five-page settlement between Reimer and the CREC lacks specificity about her wrongdoing but states that she “has demonstrated unworthiness or incompetency to act as a real estate broker by conducting business in such a manner as to endanger the interest of the public” and that she “engaged in conduct which constitutes dishonest dealing.”
Reimer and Aerowood have been sued four times this year in Arapahoe County by property owners who accuse them of running off with a combined $40,000 in rent payments. Aerowood has a one-star rating with the Better Business Bureau.
“We were with Aerowood for about two years. The second year we noticed shortages in rent payments owed to us,” one BBB review claims. “Ellie always had an excuse.”
