What do you charge?
Our fee structure varies by level of service and location. However, we’ve been able to keep our fees low because of our continued success. Keep in mind that our goal is always to keep a tenant in your property. When it is vacant and costing you, it’s costing us, too. With the market the way it is right now in Colorado Springs, vacancy is very low. It’s a great time to have an investment property!
The cycle of home sales in the Pikes Peak Region is high in the summer, tapering off in winter. This trend is starting to turn around already, with the number of residential home sales up this month. Here are some of the numbers. You can read more by clicking here: https://ppar.com/MarketTrends.aspx
So how much rent can you really pay? Your family is growing, and you want to ditch the apartment for that 3-bedroom rental home. Your kids could have their own room, and the kitchen, wow! Room to entertain for Super Bowl. (next year) You call the property management company, and find it’s not rented. You get excited. You’re almost there!
Then you find out you don’t make nearly enough money to qualify for the rent. Sad faces all around.
Where did you go wrong? 30% of your income for rent is the basic guideline, right? But is that before or after taxes, does that cost include utilities and rental fees? Kitty is part of the family. Will he cost extra? And you still have that pesky student loan hanging around, the truck payment, Christmas credit card bills….rats.