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…
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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…
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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 →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…
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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…
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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…
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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…
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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…
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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…
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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 →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 →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…
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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…
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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 →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…
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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 →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…
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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…
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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…
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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:…
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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…
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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…
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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 →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 →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…
Continue Reading →With the 2012 tax rates expiring, I thought to recap where the 2012 tax rates, brackets, and capital gains rates are along with an example of how the marginal tax rate is calculated. As the example shows, one in the 28% bracket does not pay 28% of the income for taxes. The tax is calculated in an stair-step manner on…
Continue Reading →The latest data from Metrolist®, the largest real estate multiple listing service (MLS) serving Colorado real estate agents, show a continued strong real estate market in the Denver metro area. Read the full article here.
Continue Reading →An interview with Warren Buffet on housing recovery. Here is the Wall Street Journal video.
Continue Reading →The Denver Business Journal reporting apartment vacancies at a 12-year low confirming the trend with single family home low vacancies and higher rents. Denver-area apartment vacancies hit 12-year low for Q4 .
Continue Reading →The latest report from Colorado Department of Housing.
Continue Reading →“The Obama administration, in conjunction with federal regulators and led by the overseer of Fannie Mae and Freddie Mac, is very close to announcing a pilot program to sell government-owned foreclosures in bulk to investors as rentals, according to administration officials.” See report Government Set to Sell foreclosures in Bulk
Continue Reading →The Fair Credit Reporting Act (FCRA) was enacted in 1970 to promote accuracy, fairness and privacy of the consumer information collected by consumer reporting agencies (CRAs). There has been a number of amendments in using consumer credit reports to make rental decisions, specifically the adverse action notice. Dodd-Frank Wall Street Reform and Consumer Protection Act amends the FCRA to require…
Continue Reading →http://www.divisionofhousing.com/2011/05/single-family-rental-vacancies-at-all.html
Continue Reading →“New single-family home sales fell again in the US, and in the West region, which includes Colorado. New home sales fell back to the lowest March total recorded in at least ten years. ” according to Colorado Division of Housing. http://www.divisionofhousing.com/2011/05/march-new-home-sales-still-at-ten-year.html
Continue Reading →http://www.divisionofhousing.com/2011/04/total-employment-in-state-continues-to.html
Continue Reading →The senate, this week, passed H.R. 4 repealing the extended 1099 reporting law that had passed in 2010. The 2010 law was requiring, among other requirements, that the landlords to file 1099 for anyone who had provided services of $600 or more. http://speakingofrealestate.blogs.realtor.org/category/property-management/ NAR Briefing on the Extended 1099 Reporting
Continue Reading →Taking part in discussions and correspondences with other property managers nationwide, the shortage of rental housing is not limited the metro Denver area. Other managers are seeing record low vacancies low vacancies in their respected areas. The metro Denver single-family vacancies are at all time low of 2.% The shortage seems to be evident in the supply of apartments. The…
Continue Reading →The vacancy rate for single-family homes/townhomes and condos is at all-time low of 2% during the 4th quarter of 2010 according to the Colorado Department of Housing. The average number of days to rent such homes dropped to 38.2 days from 53.9 days in the 4th quarter of 2009. Click here for the full report.
Continue Reading →Colorado Department of Housing has published the 2010 Colorado Foreclosure report. The charts below show 2003-2010 stats for Colorado and the metro Denver area. The Denver metro includes the Denver, Arapaho and Adams counties. For other areas please refer to the actual report. The foreclosure filings are down, however, more homes are going to auction.
Continue Reading →HB-1278 – All Homeowners Associations governed by CCIOA (Colorado Common Interest Ownership Act) must, annually, register and pay the required fees, with the Colorado Department of Regulatory Agencies Division of Real Estate. This bill is effective 1/1/2011. All registrations must be completed online prior to March 1, 2011. The registrations must be renewed annually. An association is exempt from the…
Continue Reading →Additional 1099 Reporting Requirement for 2011 — Landlords HR 5297 includes an expansion of the 1099 reporting related to a trade or business. Currently only the Property Managers are required to file Forms 1099 to reflect payments of $600 or more. Congress has extended the Form 1099 requirement to any person who receives rental income. This requirement would apply to…
Continue Reading →“We look at the very low vacancies among rental houses, condos and townhouses. We also note that average rents have not kept up with inflation” says Colorado Division of Housing. See Video.
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