With Spring often comes a burst of productivity. That feeling of needing to get things done after months of cold and hibernation, whether literal or metaphorical. And the same goes for your Fort Collins rental property. So what things should you add to your list to get ready for the warmer times ahead? From spring tune-ups to prepping to fill a vacancy during the upcoming busy leasing season, here are a few tips to help you with prepping your Fort Collins rental for Spring.
How to Prep Your Fort Collins Rental For Spring
Spring Maintenance
Spring is the time to shake off the winter doldrums and clean both the interior and exterior of your rental property. If your property is vacant and you’re preparing for the busy leasing season ahead, now is the time to start thinking about what needs to be done to get it ready. Spring is a great time to have your HVAC system inspected and serviced after months of cold weather and to ensure your AC system is ready for the warmer days to come. Give your rental a fresh spring makeover by having it cleaned from top to bottom. And if you’re considering any upgrades or renovations before beginning your search for new tenants, now is the time to do so before the busy leasing season comes into full swing. Budget permitting, consider redoing the floors or carpets, refreshing the paint, or upgrading appliances where needed.
If your home is rented, talk to your tenants about spring cleaning tips, including cleaning the windows and screens, under the furniture, etc. If your property has carpets, offer to have them professionally cleaned, too. This is a great way to show appreciation to your residents and maintain the carpets at the same time.
For the exterior of your rental property, ensure gutters are cleaned and cleared. Check your roof and siding for any winter storm damage and schedule repairs and professional inspections as needed. Trim back any long or broken tree branches that could cause damage to your property if broken. If your property has a sprinkler system, start scheduling your activation for the coming month. That way you can address any needed repairs before the heat rolls in. And while we all know Colorado’s tendency to snow well through April and May, it doesn’t hurt to begin planning your curb appeal projects, too.
Inspect Your Rental
Another task to add to your Spring checklist for your rental is to perform a thorough inspection. Check your property from top to bottom, ensuring everything is up to code and ready for new tenants. Have each system checked by professional services, including the plumbing, HVAC, roof, and more. Complete any seasonal maintenance to prevent potential damage later on and to catch any small repairs that could spiral out of control. Document your findings thoroughly to establish a baseline for the property’s condition before new tenants move-in. This will also help you prepare a list of things to complete beforehand and help streamline the leasing process to keep things moving forward.
Evaluate Your Rent
Spring brings the busy leasing season into full blast as more people look to move. So whether you’re preparing to look for new tenants or it’s time to renew the lease with your current ones, complete a price evaluation and market assessment on your rental to ensure you set your rent at the right place. With increased traffic and different market trends, rents fluctuate between each season. Check and see what comparable properties in your area are renting for. For an in-depth analysis, contact us for a FREE Rental Estimate to see what your home could rent for in the current market. Our team of experts can set you on the right path and with no obligation.
Setting the right rental rate is a crucial step in renting your property. Too high and your property remains vacant longer. Too low and you lose out on valuable income. And whether you’re renewing with current tenants or starting out fresh, it pays to do your research. Remember the rental market changes and prices never remain the same. Don’t rely entirely on past experiences or what your neighbors rented their property two, or three years ago. Be flexible and thorough in your search, evaluating the amenities, location, and features of your property compared to others on the market. From there, you can determine the best possible rent price to offer. Just keep in mind that once you begin advertising, the market will tell you fairly quickly if your rate is on target. Adjust quickly when needed to minimize your vacancy period.
Establish A Gameplan
They don’t call it the busy season for nothing! Make sure to prepare your property and yourself for the rush of traffic, showings, questions, and applications by establishing a comprehensive marketing strategy for your rental. Take the time to set your approval criteria before you begin advertising and think through how you plan to accept and screen applicants. Make sure all of your requirements and procedures align with local, state, and federal laws, including Fair Housing and Landlord-Tenant laws. Brush up on all of the requirements and recent changes to what landlords are required to follow when it comes to applications and tenant screenings, including income requirements, source of income, deposit amounts, and more.
Once you’ve done that, start putting into place your marketing plan. Take high-quality photos of your property and create an ad that highlights all of the local amenities and features your home offers. Be prepared to field calls and schedule showings (and be ready for those no-shows, too!), collect and screen applications, and collect fees and deposits.
Consult the Experts
And if you prefer a more hands-off experience, contact Real Property Management Colorado to do it all for you. Whether you need help finding qualified tenants to manage on your own or you’re looking to be hands-free entirely with your rental’s management, our team has the right solution for you.
Preparation plays a vital role in a successful and stress-free Spring season for your rental. Do what you can to stay proactive, from completing routine maintenance to preparing your property for the busy season ahead. And if you’re looking for guidance on how to do just that, Real Property Management Colorado is here to help! Our team has the knowledge and experience to help prepare you and your Fort Collins rental for Spring and beyond!
