We do not recommend waiting to rent your property until this time of uncertainty passes. Recently, several landlords have asked if they should wait until this situation passes rather than looking for tenants now. There is still so much unknown in the future that it doesn’t make sense to be put on hold versus getting started now.
That way we can get a tenant in place. Our team is 100% staffed, 100% operational and business is as usual. We have implemented unassisted code box showings so that we are able to still show properties without human to human interaction.
Our team and maintenance vendors are still working to complete the make ready process. We are also doing maintenance inspections so that we can get our properties leased.
Even with the stay at home order, housing is considered essential in Colorado. We are still able to show properties, secure new leases, take them off the market and do move-ins. The state of Colorado does not want tenants to be homeless; they want to have people moving into new homes.
We can absolutely rent your property on the market and get a tenant in place.
We had 5 properties last week that we rented and so far this week we have leased 3 properties. The tenants that are out viewing properties right now are serious. They have either already given notice or need a place to rent now.
The beauty of the leads we are receiving now is that there are not a whole lot of people just being curious, these are individuals that actually need housing. We take those leads very seriously, and consider them potential prospects that are ready to rent your property.
Just this week we had 51 showings 17 new applications, 3 signed leases, and 7 new in person showings of our available properties. There has been a little bit of a decrease but nothing like a stand still. We are still continuing on like normal.
Our concern is in 2-3 months when things start to shift and we get back into a new normal that there is going to be a bunch of homeowners, like you, that wanted to wait out the storm, and a bunch of vacant properties are going to flood the market with not as many renters …
There is going to be a surplus of properties and not as many tenants. So the tenants will have more options to choose from and we foresee more days on market as well as prices having to drop because the demand will be lower.
We encourage you to get started sooner than later, especially with a vacant property. It makes more sense to start now and secure a tenant, then waiting it out when market conditions are significantly different.
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