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Updates to Colorado Renting Laws – Application Fees
In the 2019 Legislative session, Colorado Congress passed several laws relating to rental properties. We’ll cover most of them over the next few months but we’ll start with HB19-1106 (Rental Application Fairness Act). This bill sets regulations on the process of charging application fees. This is a standard practice among landlords and property managers, but the bill seeks to create…
Continue Reading →Ways to Use Technology to Improve the Tenant Experience
Having long-term tenants means you spend less on vacancy, marketing and repairs. The key is to keep your tenants happy to benefit your business. Here are a few simple things to implement now to improve the tenant experience and work towards longer term renters. Accept Rent Online With the rise of peer-to-peer money exchanging apps, online bill pay and the…
Continue Reading →Why Hiring a Property Manager Can Help You Make More
So you took the plunge and invested in a rental property, now what do you? Managing a rental for the first time can feel overwhelming, which is why it can save you time, money and stress to hire a property manager to do it for you. Here are 6 reasons to hire a property manager: Screening applications All landlords will…
Continue Reading →Should you allow your tenants to sublease?
The jury is out in the property management world on whether or not it’s a good idea to allow tenants to sublease your property. This is for good reason as subleasing comes with many complexities regarding maintenance requests, property access and reliability of tenants. As a landlord, you get the final say on whether or not to allow subleases. Here…
Continue Reading →Quick Tips to Fill Properties With Fewer Showings
Are you tired of showing your rentals and not getting a bite? Even in a busy market with low vacancy rates, renters are often picky about where they are living and who they are giving their money to. Here are 5 maintenance tips to help your units make a strong first impression: Improve Curb Appeal Make a strong first impression…
Continue Reading →Digital Vendor Reviews and the Importance of Relationships
A recent article in The Denver Post exposed poor business practices regarding the ranking and promotional system at Angie’s List. With Angie’s List being known as a trusted source for quality vendors, this news leaves many landlords scrambling for where to go now. The article explains how the ranking of “top-rated pro” was only given to companies who paid Angie’s…
Continue Reading →Hire a Property Manager to Streamline Property Ownership
As a real estate investor, you have a lot of plates to juggle. Managing rentals can feel overwhelming and hard to keep up with. The many details involved in managing a rental are intricate and best handled by a property manager saving you time, money and stress. Here are 7 reasons to hire a property manager: Keeping you in compliance…
Continue Reading →Continued Increase for Denver Area Rents
Since 2010 national rents have, on the whole, continued to steadily increase. This trend didn’t change in 2018 and we saw a year-over-year increase of 3.1% from December 2017 to December 2018 according to CoreLogic. The Denver area was above this pace. According to Rent Jungle, rents in the area increased by 4.18% year-over-year. In Denver proper, the average rent…
Continue Reading →Ways to Fund the Purchase of Your First Investment Property
If you’re looking to get into the game of real estate investing, you have a few choices for financing. Ideally, purchases are made with cash but that’s not realistic for most first time investors. This means you’ll likely be taking out of a loan of some kind, but what’s the best fit for you? Here are 4 different ways to…
Continue Reading →5 Tips to Help Real Estate Investors to be Successful
It’s easy to enter the world of real estate investing, it really just takes the purchase of one property. However, there is plenty of room for mistakes along the way. It’s important to carefully consider all your expenses, stay organized and plan ahead to truly make this worthwhile. Here are 5 tips all new real estate investors need to know:…
Continue Reading →5 Things You Should Not Have in Your Tenant Lease
We understand that it’s tempting to manage properties on your own. While it can quickly get overwhelming, for many people it’s easy enough to manage maintenance requests and other such tedious tasks associated with being a landlord. One thing we highly encourage you never to do alone is drafting leases. A poorly written lease can leave you empty handed in…
Continue Reading →A Slight Dip in Denver Area Rents + A Suburban Rent Boom
According to Apartment List, there was a .2% decrease in rent prices for 2 bedroom units from September to October 2018. The good news is that even with the drop in prices, rents have still risen 1.2% since the same time last year. As a real estate investor, you’ve invested in the right market. Interestingly, the Denver Metro area has…
Continue Reading →Ways to Use Technology to Improve the Tenant Experience
Having long-term tenants means you spend less on vacancy, marketing and repairs. The key is to keep your tenants happy to benefit your business. Here are a few simple things to implement now to improve the tenant experience and work towards longer term renters. Accept Rent Online With the rise of peer-to-peer money exchanging apps, online bill pay and the…
Continue Reading →Amenities You Should Feature to Get More Attention
Despite the luxury housing trends of lazy rivers and game rooms, it doesn’t take much to attract good tenants to a unit. Most renters aren’t looking for all the bells and whistles, they’re just looking for a place to live that fits their budget. Simple amenities that may feel basic can be a big draw. Here are 5 simple amenities…
Continue Reading →Landlord Tips: Habits to Help You Be More Successful
The life of a landlord and real estate investor is busy and can be stressful if you let it. Working with a property manager can help keep your life manageable, but you still need to adopt a few habits to keep things in order. Successful real estate investors have many of the same qualities, here are a just a few…
Continue Reading →Important Summer Property Maintenance
Summer is one of the busiest seasons for real estate, rental units included. With kids being out of school and the weather looking nice, it’s a great time to move. With all the business of move-in and move-out inspections, it can be hard to find the time to complete basic summer maintenance on your properties. It’s important to keep your…
Continue Reading →Avoid Design Trends and Save Money When Renovating Rental Property
Home design goes through just as many fads and changes as fashion. Renovations to your rental property are inevitable, but following trends can end up costing you money in the long run. A trendy unit will be highly marketable for a bit but will quickly feel out of date. Here are a few current trends to avoid during your renovations:…
Continue Reading →BuildSmart Regulations in Boulder County
Boulder County implemented BuildSmart regulations a few years ago and since then they have been tightening and perfecting the requirements for new developments. These building regulations are part of Boulder County’s Sustainable Energy Plan. All new developments in unincorporated Boulder County are required to follow BuildSmart regulations. Outside of the actual materials and inspection of the completed building, the BuildSmart…
Continue Reading →5 Simple Tips to Help You Keep Good Tenants
Vacant units are expensive. Not only are you not bringing in rent while a unit is vacant, you also incur costs marketing it and finding new tenants. Instead of losing money to vacant units, work to keep good tenants around. It doesn’t take a lot to keep most tenants happy and it can save you a lot in the long…
Continue Reading →5 Aspects to Setting the Right Rental Price
When you have a rental property, setting the right price can be the difference between having a vacant unit for months and having a waiting list of tenants. It’s important to find the sweet spot so you attract the type of tenants you want without losing money because of vacancy. So how do you find the right price? Here are…
Continue Reading →Common Move-In/Move-out Misunderstandings
There are a wide range of expectations when it comes to moving in and out of a rental. From the tenant to the owner to the property manager, there are a lot of people to make happy. So what should these walkthroughs cover and how can you manage the expectations? Here are 3 common misunderstandings for move-in and move-out walkthroughs:…
Continue Reading →Understanding the Common Reasons Tenants Sue
Tenants don’t sue often. Most times a landlord is threatened with court it’s an empty threat. But it does happen and it is rarely expected. Understanding the most common reasons for a lawsuit is the first step to avoiding them. Here are the 4 most common reasons tenants sue: Mishandled Security Deposit Laws about security deposits vary from state to…
Continue Reading →The Implications of Fannie Mae’s Investment in Invitation Homes
Earlier in 2017, Invitation Homes, one of the nation’s largest Real Estate Investment Trusts (REIT) went public. In addition to gaining billions in the capital market, they received a $1 billion interest-only loan from Fannie Mae. This loan was met with a lot of questions and outrage. People are concerned about Fannie Mae’s involvement in backing a company that buys…
Continue Reading →Reasons to Turn Away a Potential Tenant
When you have a vacancy all you want is to fill it, and filled quickly but that doesn’t mean you should let just anyone in. Of course, you always need to comply with Equal Housing guidelines but there are plenty of reasons to say no to a tenant. It’s not worth having the risk of dealing with an eviction to…
Continue Reading →Tips for Handling Unimaginable Tenant Situations
After a few years of working with tenants it’s likely you’ll have stories to share you never would have imagined. Despite tight screening things with a tenant can go wrong quickly. Maybe they lost a loved one, lost their job or are struggling with their health. Life happens and some tenants aren’t able to manage and start to go off…
Continue Reading →What Does it Cost to Sell Your Home?
When you’re selling your home your focus is often going to be on the bottom line, and how to maximize it. This generally leads you to focus on list price and potential inspection items you need to fix, but have you factored in the other costs of selling your home? It’s more than just Realtor commission, and while you will…
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