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!

One Rental Source To Rule Them All

Many rental companies in Colorado tend to only offer properties in specific areas of the state rather than offering rental properties across the whole state of Colorado. If a prospective rental customer is not sure where they want to live in Colorado, it can be difficult to find a single property management company that offers different rental properties in different locations of the state. Luckily, 8z Rentals is here to help. 8z Rentals offers rental properties in various areas of Colorado. Some of our prime rental locations in Colorado include Fort Collins, Denver, and Boulder. If you are not sure where you want to live in Colorado, 8z Rentals makes it easy to explore all of your different options at once.

Visit 8zrentals.com today to browse all of our currently available properties, or give us a call at (303) 563-4104 to get set up with one of our professional leasing agents. Don’t waste your time contacting different property management companies for different property locations in Colorado. Contact 8z Rentals to get all of your options at once.  Let 8z Rentals serve you today!

 

8z Rentals

4041 Hanover Avenue #101

Boulder, CO 80305

8z Settles Your Requests in a Fair and Timely Manner!

8z Rentals in Colorado likes to stay on top of its tenants’ and owners’ requests. We do our best to settle matters between tenants and owners in a fair and rational way. If a tenant submits a property maintenance request to 8z, we quickly settle the request by either scheduling a repair or negotiating the request further with the owner of the rental property (without any unnecessary delay involved!). Tenants have the ease of the secure online portal where tenants can make maintenance requests with just a few clicks of the computer.  Similarly, if an owner believes that his or her tenant is making an unnecessary or irrational maintenance request, 8z swiftly contacts the owner and attempts to reach a more satisfactory solution to the original request.

Whether you are a tenant or an owner, 8z makes renting and owning property easy by running a fair, fast, and rational negotiation process for owner and tenant requests. As a property management company we are here to make sure everything runs smoothly between our tenants and owners. We don’t wait around to solve our owner and tenant conflicts. At 8z Rentals, we stay on top of it all.

Does it Feel Like Your Rental Company is ‘Nickel and Diming’ You?

The word is out: Many tenants leasing properties in Colorado are not too satisfied with their current rental property management companies. Does it feel like your rental company is trying to get some extra money out of your pocket? Tenants of our competitors are complaining about being charged too much for maintenance repairs, and having unfair amounts of money taken from their security deposits when their leases end.

Here at 8z Rentals, we don’t nickel and dime you like our competitors. 8z Rentals serves tenants in a fair and ethical manner. A happy tenant is more likely to renew their lease, and take care of their rental property.  It’s a win-win for tenants and landlords to treat tenants with respect.  We make our money by offering great rental properties at great prices, not by cheating our tenants like other rental companies. If you feel like your current rental company is treating you unfairly, try leasing with 8z Rentals the next time around. 8z offers a whole different experience than most rental companies in Colorado because we are on the tenant’s side. Check out 8zrentals.com for our latest rental listings available across all of Colorado, or contact us today by calling (303) 563-4104. Try the 8z way; we treat our tenants right.

8z Rentals

4041 Hanover Avenue #101

Boulder, CO 80305

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

How Will New Construction Affect Rent & Vacancies in 2014?

Lots of new construction is on the horizon for Colorado’s Front Range. So the question is, “how will this new construction going impact the rental market?” Vacancy rates have increased slightly as a result of the additional inventory. Landlords who have been remodeling older buildings, are adding these units to the rental inventory, and thereby increasing the vacancy rates. As a result of the newer nicer product the average rental rates have increased which is good news for investors.

A healthy balanced vacancy rate is considered to be about 5%. This rate keeps owners and tenants in check, and gives owners the ability to maintain the housing stock with repairs, while not having to give large concessions for signing up new residents. When the vacancy rate drops too low, the rental rates tend to spike, hurting residents ability to secure adequate housing at reasonable prices. Inversely, when there are higher vacancy rates, like those we have experienced over the past 7 years, landlords had a hard time maintaining their housing stock and were forced to provide large signing concessions, and struggled to balance basic upkeep with diminishing quality of available tenants. This downward spiral is very difficult for many apartment owners to balance, as landlords become strapped with diminished cash-flow.

Statewide we are hovering with vacancy rates just over the 5% mark, at 5.4% in the last quarter of 2013. This is up a little bit from the vacancy rate of 5.2% in the fourth quarter of 2012.  The increased vacancy overall seems to be a good sign since it is a reflection of the new and updated apartments being made available for residents. Some newer amenities being offered to residents are free cyber café’s with in house barista’s, free wireless, cool new dog parks with fun features and even dog washing stations aka Pet Spas, larger storage lockers for all of your Colorado toys, laundry facilities with text messaging when your load is done, larger package lockers with text notification of your code to access your package. Of course all of this comes at an increased cost. The average rent has hit a record fourth quarter high of $992 for the state, this is up from $944 in the fourth quarter of 2012.

 

A Local Look at Rents & Vacancies Across Colorado

Fort Collins/Loveland

Fort Collins/ Loveland outpaced Metro Denver for Average rent. Fort Collins/ Loveland was $995 in the fourth quarter compared to Denver at $992. The vacancy rate dropped to a new ten year low of 2.1% making for an extremely tight market for residents.

Greeley

Greeley had a record $64 increase in the average rent to $756 in the fourth quarter and an increased vacancy rate with a 2 year high of 6.3% but these statistics were invariably affected by the addition of 90 new units to such a small submarket. Overall Greeley is very strong and the absorption of these units should increase the average rent overall while updating the housing stock.

Boulder/Broomfield

Vacancy rates dropped again this year to 3.4% for the fourth quarter of 2013 down from 3.7% in the fourth quarter of 2012.   The vacancy rate for the area surrounding CU in Boulder dropped from 2% in the third quarter of 2013 to 0% in the last quarter of 2013. The average rents in Boulder/ Broomfield steadily rose from $1,104 in the last quarter of 2012 to $1,198 in the last quarter of 2013.

Denver Metro

Vacancy rates in Denver have risen to a two year high of 5.2% for the 4th quarter of 2013 up from 4.9% in the fourth quarter of 2012. This is a strong reflection of the large number of new apartments being added to the inventory as well as remodeled units being held vacant during the construction process. The average rent continued to grow despite the increased vacancy which is the best indicator that the market can absorb the new inventory. The average rents rose from $986 in the fourth quarter of 2012 to $1,041 in the 4th quarter of 2013.

Overview of the vacancy rates and average rents by Area/ County for the 4th Quarter 2013:

Area/ County                                   Vacancy Rate                       Average Rent

Fort Collins/ Loveland                           2.1%                                        $995

Greeley                                                          6.3%                                        $756

Adams                                                            5.3%                                        $948

Boulder/Broomfield                                 3.4%                                        $1,198

Denver                                                            6.1%                                        $1,064

Arapahoe                                                       5.2%                                        $995

Douglas                                                           5.0%                                        $1,236

Jefferson                                                        4.6%                                        $994

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

8z Rentals’ State of the Art Technology Supports Owners!

house-for-rent8z Rentals Brings State of the Art Technology to the Rental Market.

Here at 8z Rentals we have invested heavily in software so that we may provide you with accurate, effective, and secure systems for the best service. As an owner you know that tenant relations and property maintenance are very important to a successful rental process and 8z Rental’s quick response times are essential to the profitability of your rental properties.

Here are some ways 8z Rentals’ technology supports our owners & their tenants: 

8z Rentals provides a faster response time for better service

We can securely access information about any of our properties at any time, and from anywhere. Sensitive data is securely housed in a state of the art data center, and backed up regularly and automatically.

Paperless Monthly statements are delivered directly by email, saving time and the environment

Our monthly statements are easy to read and provide owners with a quick snapshot of property details during the past month. You can even access and view your statements from your mobile device.

We address property maintenance issues faster

8z Rentals uses electronic work orders (submitted online), and we communicate directly with vendors so maintenance issues are resolved quickly.

You will be paid faster and more securely

8z Rentals uses electronic work orders and we communicate directly with vendors so maintenance issues are solved quickly.

8z Rentals uses the leading rental websites to market your property

We can quickly and professionally market your properties on all of the leading rental websites to provide your property with maximun exposure both locally and nationally. We use Craigslist for local advertisement, CoHomefinder is the most attended real estate website in the State of Colorado and nationally we advertise on all of the top sites including Zillow, Hotpads, Trulia, and Oodle.

Home Owners: Consider Purchasing Flood Insurance To Protect Yourself and Your Tenants

Was your property impacted by the floods of September 2013? Regardless of whether you were impacted or not home owners should consider purchasing a flood insurance policy to protect your investment. This video produced by Boulder County, Colorado outlines why home owners should consider insurance to cover flood events. It is informative and worth viewing!

 

Are you insured for flooding? Are you planning to purchase insurance? Flood Smart is a great place to start to understand floods, flood insurance and answer your flood related questions. Flood Smart is the website of the National Flood Insurance Program.

Click here to get to FloodSmart.gov and learn more.