How to rent out your home in Colorado Springs
So you live in Colorado Springs, and you are thinking about renting out your house. When you think about everything involved in renting, you might decide to not rent at all. You’ve probably heard horror stories from other people who have tried to rent their house and have either made no money from it or have had to spend so much time making repairs on the property that they miss work.
Thankfully, we have some answers, but first, let’s look at what is involved in renting your home in Colorado Springs.
- How will you market your rental so that you get it rented quickly, and attract the kind of people you want to live in your house?
- What will you charge? Do you know how to get the best price you can without charging too much?
- How will you maintain your property so the yard doesn’t die and that beautiful painting you did in the living room isn’t destroyed? How will you even know if damage is being done inside your rental?
- How will you collect prompt payments? What if the renters get behind--what do you do?
- What will you do if things break in the house--if your tenants call and need immediate help to fix the plumbing under the sink, can you leave your job to go do the repairs?
- Are you good with accounting? You’re going to have to keep track of the finances accurately to not lose money, and to please Uncle Sam.
- Do you have a good, affordable lawyer? You might need to sue for damages, or to evict someone.
- Do you know all the laws and rules about renting, including tenant rights? How can you figure this out?
- How’s your muscle tone? Will you be able to evict a bad tenant if you need to?
This is a lot to think about. So what is the answer? How can you rent your house, make a profit, and be able to have all of the time you have now to enjoy your life?
It is simple. Hire a good property manager who will do all of this for you and hand you a monthly check.
Sound too good to be true? It’s not! Hundreds of property owners in Colorado Springs trust All Seasons Property Management to take the stress out of renting!
You will make money by hiring them. This is how it works: they charge a percentage of your property's monthly rental rate in exchange for their services; there is no fee when your property is vacant; they charge no mark-ups when they do routine repairs on your property. Monthly proceeds are electronically deposited, and your monthly statements are available online.
Here’s what All Seasons, LLC, CRMC will do for you.
Marketing and Advertising - They will good good renters for you quickly, and avoid long vacancies. They know where to market your property.
They are available for showings every weekend--one reason their vacancy rate is about half of what it is city-wide in Colorado Springs. Their rentals are snapped up so quickly that if one is available, multiple people contact the office.
Setting the Right Price - A good property manager can set the ideal rental price for your property. This ensures that you get the max monthly income possible, and a low vacancy rate.
Documenting Your Rental - They use video to document how the house looks when tenants move in, and when they move out. Talk about preventing problems--this’ll do it! They also do drive-bys to check out your yard and the general exterior state of your property.
Vendors - These are the guys who fix things on the property. All Seasons has a winning line up of vendors, who not only make the needed repairs, but report back to All Seasons about any other problems they see in the house.
Collecting Rental Payments - All Seasons uses an efficient method to effectively collect rent and make sure the payments are on-time--crucial to maintaining your cash flow.
So how can you go wrong?
You’ve got the option of DIY, which will lose you money and time.
Or you can hire All Seasons, LLC, CRMC, and start making money by renting your house.
I know what I will do!