If you rent your home, following the terms of your lease is one key to a smooth living experience in your rental home. This includes any responsibilities around home maintenance and utilities. Renting a single-family home generally comes with different responsibilities than renting an apartment. In an apartment setting, the building management usually handles most maintenance […]
Navigating the balance between a landlord's right to inspect and manage their property and a tenant's right to privacy and quiet enjoyment is a delicate task that demands mutual respect and understanding. On one hand, landlords have a legitimate interest in maintaining their investment, ensuring that the property is in good condition, and verifying that […]
Using the correct agreements and documents can make all the difference in residential property management. One essential contract is the lease listing agreement, which connects property owners with real estate brokers to market a property for rent. This agreement sets clear terms, helping ensure a smooth rental process. Understanding the lease listing agreement is crucial […]
What is Renters Insurance? Renters insurance is a type of policy that is designed to cover the tenants and their personal belongings in a rented residence. While landlords have their own homeowners insurance policies that cover their structures and financial interests, these policies don’t generally extend coverage to their tenant's personal property. This means that […]
For many tenants, property condition is a deciding factor when choosing a rental unit. If you’ve been renting for a while, you’re probably already in the habit of documenting any damages from a former tenant prior to move-in. But how often do you think about the carpet condition in your rented home or apartment? Probably […]
Updated June 15, 2021 Colorado Springs Airbnb laws changed significantly at the end of 2019. If you are a real estate investor or property owner looking to get into the Short-Term Rental (STR) market, that may be more difficult than you think, at least in the city of Colorado Springs. The Colorado Springs City Council […]
Section 8 is a rental housing assistance program, funded by the U.S. Department of Housing (HUD), and administered by local public housing agencies. Sometimes referred to as the housing choice voucher program because it grants vouchers to eligible low-income families, people with disabilities, and seniors in order to help them obtain affordable housing. Section 8 […]
Your rental property is a valuable investment. Perhaps your most valuable (other than the home that you live in), which makes choosing the best property management company an important decision. If you don't know how to find a good property management company, read on... Many real estate investors opt to work with a property manager […]
If you’ve been renting or looking to rent for a while, you’ve probably come across the “3x rent rule.” The 3x rule is a common way landlords and property managers vet potential tenants. It states that a tenant’s adjusted gross income, or take-home pay, should be 3x the proposed rent on a property. Adjusted gross […]
There are a lot of misconceptions and misunderstandings about the Colorado Eviction Process. Because the process is very specific, failure to understand the appropriate steps can add significant time to the eviction. The pandemic of 2020 and subsequent eviction moratorium has also made the colorado eviction process even more confusing. If you are involved in […]
Peyton, Colorado is located in the eastern portion of El Paso County just northeast of the Falcon area and west of Calhan, Colorado. Peyton property management is a unique challenge because of the way the eastern plains have developed. While Peyton is for the most part a rural community, there are newer subdivisions in the […]
Is Renting a Townhouse Right for You? If you have lived in Colorado Springs for a few years, it may come as no surprise that the average cost of rent has risen 27.41% since 2015. But is renting a townhouse the right housing option for you? Though a booming job and housing market offers certain […]
The end of a lease is an important event for landlords and tenants alike. It can also be a time of conflicting expectations. Both tenant and landlord need to understand the difference between normal wear and tear versus damage. The landlord will usually expect their property to be returned to them in the exact condition […]
It all starts with being "Move-In Ready" Rental Security Deposit disputes usually occur because of a misunderstanding between a landlord and a tenant. At the end of a lease term, the tenant is usually required to leave the property in “move-in ready” condition. This means the same condition in which they received the property, minus […]
Landlords who have a rule banning applicants who were convicted of a crime-may want to rethink that policy. Recent guidelines issued by the US Department of Housing and Urban Development (HUD) on April 4, 2016 call for landlords to do away with blanket bans, that disqualify applicants based on prior convictions or arrests. Having a […]
If you haven't heard of pet liability insurance before you are not alone. Pet owners who live in an apartment community may be of particular interest to this form of insurance. A pet has the potential to injure another occupant on the property and you certainly will want to have some sort of personal protection. […]
The Colorado Warranty of Habitability is a statute that outlines conditions that a property must meet in order for it to be considered fit for human habitation. This statute was established in 2008 to protect tenants from unscrupulous landlords. Since then, there have been a few updates and changes made to the document, with the […]
So you’re thinking of renting to relatives and want to know the tax implications After all, it’s something that seems to make perfect sense. Your child; or maybe it’s your mother or a cousin needs a place to stay and you have a rental property. If you were to let them live there rent-free, or […]
Capitalization Rate or “Cap Rate” is a ratio used by real estate investors to determine the desirability or profitability of a specific property. This ratio compares the relationship between the property value and the potential income that property may produce as if you had paid cash for the property. While there are certainly more sophisticated […]
If you are a landlord, then you are all too familiar with the frustration that comes when you find out that the heater has gone out at your rental unit, or that there’s a leak –yet again. If you’re tired of the frustrations that come from dealing with breakdowns, and costly repairs eating into your […]
While landlords are usually free to allow, or ban pets from their rentals, and are well within their rights to do so, there’s one very important exception to this rule that landlords should know about: assistance animals. It is critical for landlords to understand the emotional support animal laws and how it pertains to their […]
When it comes to investments, real estate can offer some solid benefits. Property appreciation, tax breaks such as rental property depreciation, and recurring cash flow can turn your property into a money generating investment. You can take advantage of these benefits whether you use a Property Management company or self-manage your own rentals. In many […]
In an ideal world, security deposits wouldn’t exist. Tenants would move into a rental – and look after it with the best of care. They would always pay the rent on time, and continually abide by the terms of the lease, unfortunately, though, things don’t always work out this way. Things happen and mistakes are made. […]
There are a number of reasons why you might consider becoming a landlord in Colorado Springs or anywhere in El Paso County. Maybe you’re downsizing to a smaller property, but still want to maintain your current home for income. Perhaps you’ve found a great deal on an income-producing property and are planning to use the […]
When it comes to rental property, there’s a lot that you can do upfront to help ensure that you’ll be in for a smooth and relatively stress-free journey. To prepare for the worst, it is essential for every tenant and landlord to understand the 3 Day Eviction Notice and how the eviction process works. Important […]
For most landlords, being able to deduct operating expenses can make a big difference on the amount of tax that they owe. Understanding the rental property tax deductions can be complicated, but well worth the time. But when it comes to fully utilizing those rental property tax deductions, that’s where many landlords struggle. After all, […]
As the proud owner of rental property, there’s a good chance that you know about and are already using one of the most well-known and popular tax deductions available to landlords: Repairs are a much-loved deduction, and for many landlords, they represent a significant saving come tax time. They’re popular thanks to their value, as […]
Taxes aren’t exactly something that we look forward to, but for landlords and real estate investors, at least, there may be some reason to rejoice. If you own rental property, there are landlord tax deductions that can help you out. The tax code tends to favor real estate investors and having rental property can open […]
After three consecutive down quarters, the Colorado Springs Rental Market experienced some nice gains for the second quarter of 2019. The overall volume of rentals is up nearly 41% for all of El Paso County in the Second Quarter of 2019. Q2 is traditionally a strong quarter but this kind of jump is significant. Average […]
