Improvements to our 2015 Residential Lease Agreement

2014 Team PhotoFall and winter may be a slower rental market, but we’re keeping busy at 8z Rentals.  We recently gathered our entire team, to discuss and update our entire lease agreement for our 2015 lease documents.  Here are the improvements that we added, that we think owners, such as yourself will appreciate.

  • Updated the formatting of the entire lease to make it much easier to access critical information on the top page.
  • Separated utilities into their own paragraph with easy to understand check boxes so it is clear about who is responsible, including who is responsible for connecting the utilities and when they need to be connected by.
  • Defined “possession” to protect owners if tenants delay taking possession and are not aware of damages that can be incurred from failure to occupy the property.
  • Addressed the issues of growing and smoking of marijuana in more detail.
  • Integrated the pet addendum into the lease to make it more clear for tenants and owners.
In addition, we believe that a big challenge in the residential leasing market in 2015 is “service animals.”  Everyone at our office has attended Advanced Fair Housing classes to be prepared for this new complicated facet to fair housing.  It is extremely important to know the correct way to deny or approve applications concerning service animals, since it is protected by a federal law, which can be extremely expensive to defend against even if you are right, as the prevailing party is not allowed to collect attorneys fees.
The residential leasing market is quickly evolving.  Standard cookie cutter leases do not address all the concerns that owners need to consider in Colorado’s current leasing and rental landscape.  As full time leasing agents we get to see the changing rental market and adjust accordingly to protect our owner’s properties and investments.
Please contact us if you need assistance leasing your Front Range Colorado rental property.
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Tips to Landlords & Tenants: Residential Rentals in the Fall

Fall imageFall is upon us and we frequently get calls this time of year from owners in a panic asking us if they are “too late” to rent their property.

My answer to owners is of course “No!” Rentals happen all year long, but yes you will need to be more flexible and consider dropping your rental rate from the peak season rates. You will also need to consider being more negotiable with terms other than price, such as pets, utilities, occupancy limits, and lease duration.  The summer months are naturally on the top of the bell curve for prices since that is when the maximum activity occurs. Econ 101 kicks in when the demand drops.   Owners need to adjust their prices down to account for the reduced demand. In general, owners can expect about 10% -15% less in the slower months versus the peak months.

On the surface the answer to the owner’s question may seem pretty obvious, but as I dig deeper into the psychology of their question it occurs why they are in a panic. Most owners are caught up in the sales concept, which has big consequences for minor fluctuations in price. Unlike selling your property which is usually a life changing event, and worth some forward planning to maximize the sale price. Rentals have far smaller consequences. Selling a property with a 10% price fluctuation translates into tens if not hundreds of thousands of dollars. Most sellers who wait until the fall really have their work cut out to obtain top dollar. Luckily with rentals the total stakes are far lower, a 10% fluctuation in rent is a much smaller loss. The good news is that the reduced number of residents is also offset by the reduced amount of inventory. This helps level the playing field once again for owners.   Properties in nice condition that outshine their competition are many times able to rent for close to peak rates. The bad news is that if your property needs work and doesn’t show well, you will most likely have to get it fixed up to compete with the limited prospects or reduce your rents far enough to lure someone to your property.

All of this is good news to savvy residents who are lucky enough to have the flexibility to lease during the slower season. Avoiding the peak rental season is a fantastic way to secure great housing at reduced prices. Residents can avoid the frantic rush of having to sign a lease quickly if they like the property, and they are more likely to find a negotiable landlord. Retirees and single professionals fit perfectly into this category. Most retirees and single professionals are not concerned with school districts and have more flexibility with unique living situations. In addition, most retirees are not concerned with proximity to commuting arteries. As a matter of fact they probably want to avoid these areas since they are more expensive and more crowded. Renting is a growing trend among retirees who are seeking to live near friends and family for a portion of the year, to avoiding the headaches of maintenance and yard work, and following the nice weather. If you are going to be renting for a few years and have the flexibility it makes perfect sense to avoid the rush and wait for the slower season to find a gem.

Summer is Coming to a Close at 8z Rentals

Summer is finally coming to an end in Colorado. It has been a wonderful and busy season for 8z Rentals, as we leased a plethora of properties, renewed multiple leases, and moved out all of our tenants with leases ending during this period. The busiest rental period of the year is coming to a close, but as always, we continue to lease and manage rental properties.

Are you a Colorado property owner who still needs to lease your property for 2014? While the rush for rental housing may slow as summer ends, working with a property management company like 8z Rentals can significantly increase the demand for your rental property. 8z Rentals lists, markets, and shows your property for you. We respectfully follow property owners’ orders and use our professional experience to successfully lease properties to the best of our ability. Let us give your property the extra boost it needs; call 8z Rentals today to learn more!

Preparing Our Managed Properties For Tenant Move-Ins

8z Rentals usually leaves a week between tenant move-out dates and new tenant move-in dates for our managed properties. This is done to ensure that our managed properties get the necessary amount of cleaning and maintenance before our new tenants move into them. While some maintenance issues may be unknown to our company prior to tenant move-in dates, we always do our best to clean and fix up our managed properties to the best of our knowledge. We understand that it can be frustrating to move in to a dirty property, or even a property that needs multiple fixes. That’s why we give our best effort to have your property fully prepared before your move-in date.

Quality Customer Service with 8z Rentals

Does it ever feel like your property management company is blowing off your calls? Here at 8z Rentals we understand the importance of our tenants and owners, so we always do our best to answer our clients’ calls and emails. Even if we miss a call during the day, we strive to get back to our tenants and owners by the end of the same business day. We are here to keep our tenants and owners satisfied, and we know that you want to stay in touch with us. Give us a call today to let us serve you in rental property management.

8z Rentals

(303) 563-4104

8z customer service

8z Rentals Has The Best Maintenance Around

8z Rentals does rental maintenance right. While other property management companies attempt to make profits by marking up maintenance costs, we stay 100% transparent with maintenance costs and do not mark up, so there is no profit motive for us to schedule unnecessary maintenance. In addition to our transparency in maintenance costs, we strive to find insured, high quality maintenance companies with reasonable pricing for all of our rental properties in Colorado. With 8z Rentals, you don’t have to worry about dealing with low quality maintenance workers or paying too much for an easy fix.  As a business, we have done our research, received bids and references, and partnered with some of the most trustworthy maintenance companies in all of Colorado. If you are an owner or tenant and feel that you have been ripped off by your property management’s maintenance endeavors, try 8z Rentals next time for a more quality and trustworthy rental maintenance approach.

8z Rentals:

(303) 563-4104

8zrentals.com

Colorado lake

August Leasing and Turnovers Around The Corner

Happy July—the summer is flying by over here at 8z Rentals! Quite a few leases are either beginning or ending in August, which is now only a month away. It’s a busy time for anyone who lives in or owns a Rental Property; residents are getting set for their move-in and move-out dates, and owners all over Boulder are busy trying to finalize leases with new tenants and secure vendors to handle their turnover tasks. If you are an owner who has not yet leased your property, or a prospective tenant still looking for a place, give 8z a call and see how can help make your upcoming transitions much easier!

Owners: Let 8z Rentals Help Manage Your Property

If you are a Colorado property ownerand have not yet leased your property for the upcoming year, it could be time to get some extra help from 8z Rentals in order to ensure that your property does not sit vacant. 8z offers the optionof ongoing management for your property so that you don’t have to worry about dealing with scheduling repairs, collecting rent, late-night emergency phonecalls, or coordinating and documenting move-ins and move-outs.Give us a call today for more information and our staff can fill you in on the details of managing your property through 8z! Main Office: (303) 563-4104.

Prospective Tenants: Leasing Through 8z Rentals

            Prospective tenants, if you are still looking for a rental property in Colorado, check out 8zRentals.com for all of our rental availabilities or give us a call at the number above. 8z Rentals has quality properties still available for 2014, and you could be leasing one of them soon!

Online Scams in Rental Property Leasing

Recently there have been several cases involving fake landlords and fake leasing agents attempting to scam customers interested in leasing properties in the Colorado area. In one of these cases, a fake leasing agent stood outside of one of 8z Rental’s properties and greeted two interested customers. The two customers reportedly found this “leasing agent” through Craigslist, and were skeptical of him from the start. Luckily, these interested customers sensed that something was not right with the leasing agent and reported the issue straight to 8z Rentals. While Craigslist and other similar sites can often be trusted for finding available rental properties, the best way to avoid getting scammed is to go through a more direct and professional property-leasing source.

How to Avoid Scammers: The 8z way

By finding a rental property or leasing agent through a more direct and professional source like 8z Rentals, one can avoid potential scammers in the rental business. As a professional property rental company, 8z Rentals carries authentic information for customers on our website and at our offices. At 8zrentals.com, customers interested in renting properties can view all of the company’s available properties and can also access all of 8z’s leasing agent contact information. There is no chance of getting scammed when one searches for a great property directly through an experienced, professional, and informative rental company like 8z Rentals because the company offers direct, authentic sources of information on all of our properties and agents.

If Nothing Else, Check Your Sources!

Still convinced that the best way to find a rental property is through Craigslist or a similar site? Then check your sources! Even 8z Rentals posts properties on Craigslist because the site offers the great opportunity to advertise the company’s properties to the masses. However, if an interested customer cannot match rental information posted on Craigslist with information posted on a rental company’s site, then the Craigslist post could be a potential scam. The good news is that 8z’s website makes it easy to verify our posts on Craigslist because our website stays up-to-date with information about our properties and agents. Additionally, 8z Rentals leasing agents and staff are always available by phone to speak with customers about our properties and connect interested customers with our professional leasing agents.

Report and Remove Scammers!

If one does happen to come across a rental scam on Craigslist or a similar site, it is best to report this scam to the website. This way the website can ban the user at fault and eliminate future scamming from this user. In reality, most Craigslist posts are not scams, but getting scammers reported and removed is the next step towards a safer Craigslist environment.

Protecting Our Business and Customers

8z Rentals is always on the lookout for potential scammers, and we do our best to protect ourselves and our customers against them. While scammers represent a very small threat to our company, we are still doing everything we can to completely eliminate them as a threat. There have been no more than one or two scams total involving someone pretending to be an 8z Rentals agent leasing an 8z property, and these scams did not get far at all. Rental scams have not been specifically common for 8z, but have been more common in the rental industry as a whole. We shall continue to protect our business and our customers against scammers, and hope that other rental companies will do the same.

by Justin Schultz, at 8z Rentals

Justin@8zrentals.com (303) 563-4104

Homeowners Stand To Gain In This Tight Rental Market!

House ImageNew jobs throughout Colorado are bringing in lots of new residents from out of state.  And along with a new job, new residents must also find a place to live.  Even after years of low vacancy rates, as the Colorado economy continues to grow, so does the demand for housing. This increased demand is causing an increase in rental costs and made it easier for owners to rent their spaces.

How can Denver & Boulder area residents and homeowners make a few bucks, and help with the low vacancy rates?

1. Got A Carriage Houses or Extra Space? Some old Denver homes have a separate carriage house.  Convenient for storage, yes.  But, why not clean it out, renovate, and create some passive income with that space?

2. Become a Snowbird. Many retirees love Colorado summers but would rather stay clear during the cold snowy winters.  Retirees can enjoy a little extra income from leasing their home during the months they are away.  Their house doesn’t look empty, and the sidewalks stay shoveled after snowstorms.

3. Take a Sabbatical. Many of our landlords are leasing out their primary residence for the first time.  Whether they’re taking a sabbatical from work, or taking on a work project out of state for a few months or a few years, renting their home provides extra income to cover expenses, and to keep the home for their return to town.

Never been a landlord before?  That’s okay.  As property management experts, we discuss homeowners’ needs to market the vacancy, and manage the property, to save you time and stress of having rental property.

8z Rentals Is Getting Rave Reviews on Yelp!

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8z Rentals is on Yelp! Check out our latest Yelp Review!

“As a selling realtor in this market, it is important to me that I send my clients to a rental management company that will treat them with the same commitment to quality service. 8Z Rentals does just that, they understand the rental market better than anyone and treat both tenants and property owners with the utmost respect. I recommend them to all my clients with rental needs.”

-Steve, Boulder Realtor