Welcome to another great rental season in Northern Colorado. Are you ready? Are your properties ready?
Now is the time to make certain your rental house is at its best. Yes, because of the housing shortages, you can probably get a great price for your rental. However, I talk with renters every day who complain about the condition of the properties they are expected to rent. These are often hard working, well paid people who simply cannot find quality housing. But they would be willing to pay top dollar for a house that is repaired and in good condition. So, as an investor, wouldn’t it be worth your time to spend a few dollars before any showings happen to make certain you can get top rents for your property?
If there is any concern that you don’t have the time or the resources to complete these repairs, consider hiring a property manager to help with this. We have years of experience in knowing what repairs really pay a return and what repairs may not be an investment. We also have a team of vendors who give us the best prices to make these repairs happen. These vendors know that we will hire them again and again throughout the year so they give us great prices on labor. And they bargain shop for sinks, doors, light fixtures and anything else we might need. Often a simple updating of light fixtures gives a rental an entirely new look which can increase the potential for higher rents.
Try looking at your property with fresh eyes. How does a stranger see it? If you can’t step back and look at it objectively, talk to a property manager. We have no emotional attachment to the house so are often better able to see issues that may turn off a tenant.
There are certain ways to update that will give you the greatest return – http://finance.yahoo.com/news/rental-landlords-pick-property-upgrades-224800580.html. Updating and repairs may well get you a better quality of tenant, one who will stay for years and treat your property as if it were their own.
Oh by the way, if you know of anyone who is interest in hiring a property manager or in purchasing a property to use as a rental in Northern Colorado, we have the systems and the expertise to help them. We work in Fort Collins, Loveland and Greeley, so please call us for your property management needs.