The verdict is in – people love apartment living in Colorado Springs. Not only do apartments offer convenience and a sense of community, but they provide a viable alternative to purchasing a single-family home or similar property given the city’s high real estate costs.
The challenge for apartment property owners is managing their properties. The Colorado Springs apartment rental market is growing rapidly yet is highly fragmented. Navigating these water requires more than just an understanding of how to manage an apartment property. It requires knowledge and expertise that only comes from being a local.
At RPM Colorado, we live and work right here. Our deep understanding of Colorado Springs’ rapidly shifting apartment rental market means that our clients can “set it and forget it.” In short, we make owning and profiting from an apartment property as simple as can be.
Don’t you deserve the peace of mind that comes from working with an established property management expert who understands potential tenants and their expectations, as well as Colorado’s unique, tenant-friendly laws?
What You Need to Know about Apartment Management in Colorado Springs
Apartments have become very attractive to a large subset of renters in Colorado Springs. That’s due to the unique makeup of the area. With a huge college student presence and a considerable impact from the military, apartments are in very high demand. Of course, you also need to cater to a wide range of potential renters. RPM Colorado offers the means to manage your property while attracting the right clientele to ensure peace of mind and profitability.
We’re proud to offer the same range of services for apartment management that we do for managing single-family homes, townhomes, and other rental properties. From following up on late rent to visiting the property regularly, sending lease violation notifications and maintenance concerns to handling mowing and snow removal, we do all the heavy lifting so you can focus on other things.
We also help ensure that you’re able to set rent accurately. It’s important to base your rental rates on more than area averages. We understand the impact amenities like an on-site pool or gym can have, and we help you price your apartment appropriately.
Overcoming the Unique Challenges of Apartment Management in Colorado Springs
Apartment rentals are unlike any other type of rental property. Owners face unique hurdles here, but we offer in-depth expertise and experience to ensure smooth sailing.
One of the most challenging aspects of apartment management is the need to inspect the property more often than with a single-family home. The solution? RPM Colorado visits each property once per quarter to inspect it and assess any issues. Our goal is to ensure that your apartment remains in great condition, and we’ll go to great lengths to achieve that.
The Size Factor
Apartments are also unique because they are part of a larger property. We understand the complexity here, as well as the importance of taking a proactive stance to property management needs. This is especially important for common areas that need to be monitored closely and maintained properly to ensure that all renters can safely make use of these spaces and amenities.
Does your property offer laundry facilities? If so, this is another area where it’s crucial to take a proactive stance and conduct regular, frequent inspections. Simply put, apartment property owners have far more responsibilities than owners of single-family homes or townhomes. Because of that, management costs are higher, repair costs are higher, and risks are greater.
We can help you tame those risks and ensure that your property is kept in good condition so that all tenants can enjoy the common areas and amenities.
The Unique Rental Market
It’s important to understand the impact that the military presence has on apartment leases in Colorado Springs. Because of that unique component, the city has a higher-than-average lease turnover rate. Rental property owners are required by law to release any military personnel from their lease if they are deployed, which can accelerate turnover and leave you facing unexpected vacancies during times of military conflict.
Overcoming these challenges can be more than difficult. At RPM Colorado, we understand the uniqueness of Colorado Springs’ rental market makeup. We also understand that the increase in demand means that rental properties can move very quickly when priced correctly. In fact, Colorado Springs and Denver vie for which market will move the fastest.
Dynamic Leases in Colorado Springs
Apartment property owners must be aware of the unique flexibility requirements when it comes to leasing length. Yes, a one-year lease is still the industry standard. However, because of the military presence, dynamic leases are more common in Colorado Springs. For instance, apartments are often leased for three years at a time, and sometimes leases are renewed only for a few months at a time. It’s important to be prepared for this. Our expert tenant screening process and 29-day guarantee mean that no matter what, you won’t have to deal with long-term vacancies.
Get the Expert Help You Need with Apartment Management in Colorado Springs
The Colorado Springs rental market is very strong, but also quite diverse. The significant military presence also introduces complications. For property owners, it’s never been more important to work with a trusted partner for apartment management.
At RPM Colorado, we deliver critical solutions to your needs, from regular property inspections, to handling tenant screenings, serving late rent notices, and handling maintenance and repairs.
Our goal is to ensure that you’re able to enjoy peace of mind when it comes to your apartment property. Our team delivers the expert services and solutions that you need.