While there is plenty of profit to be made as a landlord, it’s important that every Denver area property owner understands the rental property costs that come with the investment. Some costs vary from lease-to-lease, like who pays for electricity and water, but others landlords absorb in almost every situation. What are the rental property costs that Denver landlords will often be expected to cover?
As a landlord, keeping tenants happy is critical to lower vacancy rates and never worrying about your properties being taken care of. A property management company like All County Denver South Property Management is one piece of the puzzle when satisfying the needs of Denver tenants, but what are some of the other ways that you can keep your renters satisfied?
One of the biggest challenges that many landlords face is keeping properties full all year long, even during seasons where there might not be many people looking to move. Whether your slow season is winter or summer, there are many different ways to keep your rental properties full to ensure that your income from rental properties in Aurora, Ken Caryl, Highland Ranch, Greenwood Village, South Denver, Englewood, and Lakewood is steady.
The cost of living is regularly going up, and along with it, the cost of maintaining a property in Lakewood, Englewood, South Denver, Greenwood Village, Highlands Ranch and Aurora is also rising. Raising the rent at your rental property is one way to recoup costs and ensure that you have sufficient funds to maintain your property. However, doing so can be a big decision that risks isolating some otherwise-happy tenants. How can you make the right call?
As Denver landlords start sitting down with their accountants to file taxes, now is the time to survey potential deductions for 2020 and plan ahead for 2021 taxes. Because tax law is constantly changing, many landlords are unaware of deductions that they might be eligible for. What are some of the tax breaks that many Denver landlords miss?