A logo for the Colorado Department of Regulatory Agencies’ Division of Real Estate. (Courtesy of DORA)
State regulators are asking a judge to permanently prohibit a Denver man from working as a property manager after determining that he stole $25,500 in rent payments and security deposits while managing condominiums in Aurora and Boulder without a state license.
On July 17, the Colorado Real Estate Commission sued Tracy Rainey, 66, and his management companies, Beyondoffice and BOH Facilities, in Denver District Court.
“Upon receiving two complaints — one from a former landlord client of the defendants and one on behalf of former tenants who leased a property that the defendants managed — the commission conducted an investigation,” that agency explained in its lawsuit.
Tracy Rainey (Thumbtack)
“The commission determined that Rainey was providing real estate broker services without a license,” its lawyers told Judge Sarah Block Wallace.
The landlord client, who owns a condo at 444 S. Kittredge St. in Aurora, said it hired Rainey to manage the property between July 2020 and November 2023. Rainey kept $22,000 in rent payments and a tenant’s $1,500 security deposit, according to the landlord.
In Boulder, Rainey is said to have managed a condo at 3223 Iron Forge Place in 2023 and refused to return a tenant’s $2,000 deposit when the one-year lease expired that December. In a separate lawsuit, Rainey is being sued for $7,500 by two Iron Forge tenants who accuse him of running off with their $2,500 security deposit. A trial is scheduled for March.
The landlord in Aurora and the tenants in Boulder said they were unaware Rainey lacked a real estate license. They complained about missing money to the Colorado Real Estate Commission, which then uncovered Rainey’s lack of a license, the commission says.
“The defendants’ practices of property management endanger the public in multiple respects and fall far short of statutory requirements,” according to last week’s lawsuit.
Rainey did not return BusinessDen’s calls, voicemails and emails about the lawsuit.
Despite the state’s claims, Rainey and his companies are well rated on Thumbtack, a website that pairs contractors with clients. Sixteen former landlord and tenant clients give Rainey a rating of 4.9 out of 5 on the site while praising his professionalism and honesty.
A logo for the Colorado Department of Regulatory Agencies’ Division of Real Estate. (Courtesy of DORA)
State regulators are asking a judge to permanently prohibit a Denver man from working as a property manager after determining that he stole $25,500 in rent payments and security deposits while managing condominiums in Aurora and Boulder without a state license.
On July 17, the Colorado Real Estate Commission sued Tracy Rainey, 66, and his management companies, Beyondoffice and BOH Facilities, in Denver District Court.
“Upon receiving two complaints — one from a former landlord client of the defendants and one on behalf of former tenants who leased a property that the defendants managed — the commission conducted an investigation,” that agency explained in its lawsuit.
Tracy Rainey (Thumbtack)
“The commission determined that Rainey was providing real estate broker services without a license,” its lawyers told Judge Sarah Block Wallace.
The landlord client, who owns a condo at 444 S. Kittredge St. in Aurora, said it hired Rainey to manage the property between July 2020 and November 2023. Rainey kept $22,000 in rent payments and a tenant’s $1,500 security deposit, according to the landlord.
In Boulder, Rainey is said to have managed a condo at 3223 Iron Forge Place in 2023 and refused to return a tenant’s $2,000 deposit when the one-year lease expired that December. In a separate lawsuit, Rainey is being sued for $7,500 by two Iron Forge tenants who accuse him of running off with their $2,500 security deposit. A trial is scheduled for March.
The landlord in Aurora and the tenants in Boulder said they were unaware Rainey lacked a real estate license. They complained about missing money to the Colorado Real Estate Commission, which then uncovered Rainey’s lack of a license, the commission says.
“The defendants’ practices of property management endanger the public in multiple respects and fall far short of statutory requirements,” according to last week’s lawsuit.
Rainey did not return BusinessDen’s calls, voicemails and emails about the lawsuit.
Despite the state’s claims, Rainey and his companies are well rated on Thumbtack, a website that pairs contractors with clients. Sixteen former landlord and tenant clients give Rainey a rating of 4.9 out of 5 on the site while praising his professionalism and honesty.
