All Forum Posts by: Braden Hobbs

yes @Deanna McCormick I don't think anyone wants to see that:)

@Mark Ferguson thank you for the offer I'll send you a link for your opinion. 

Thanks to all for the great ideas so far!!

@Jerry W. and @Mike S. Thanks for the input. I'll reach out to some local realtors and see if they can be of any assistance. Also, Jerry, I hadn't even considered the newspaper. I guess my brain doesn't even think about the paper anymore.

@Zachary Capehart

We do try to set up everyone for the same hour block to save ourselves time and energy. I assume most college kids would use craigslist to find listings, and it's very hard to stand out on CL. 

@Account Closed

Those are good ideas. Doing the Facebook idea ASAP! Thanks!

@Jeff B. and @Account Closed

Thanks. I'll look into pricing lower and more in the lower tier of prices. Like you said it's only temporary. 

As most of our calls are from the street sign it's tough to include the pre-screen information there. Would really like to increase our prospect pool from online resources, but it could just be the time of the year.

Hello! 

We recently bought a property 5 blocks from the college in Greeley, CO. We planned on our main demographic being students, but, we're in the middle of winter and need to rent the place until summer so mostly we're getting adults/families calling. Right now we're only getting 1-2 calls a day from a sign in the yard. We schedule showings one to two days out from when they call (we live 1 hour away so can't do showing immediately) and most people never show up to the showings. 

I need some advice for getting this place rented, please! 

Here is what I'm currently doing.

1. Listed on Zillow, Trulia, Hotpad, and Craigslist but have only gotten 2 prospects from these sources who have never followed up. 

Question 1: How do I get better and more prospects from these sources?

Question 2: What other sites should I list on?

2. For rent sign in front yard. The property is on a busy street with a main shopping center across the street. Getting lots of calls, but mostly no-shows as stated above.

3. When people call, I tell them the basics about the house (3 bed, 1 bath...) and then I tell them our application process. I tell them we use cozy, and that we verify income and past references. I state we like to see 3x gross income compared to monthly rent for the house.

Question 3: Should I just get it rented in the winter and not be so picky on requirements?

4. We are priced in the top 25% of available listings I can find online. We repainted the entire interior and pulled the carpet and finished the original hardwood flooring. From the comps, I believe we are priced well. 

I know that was a lot of information and questions! I'm looking for any advice to help us get this thing occupied without renting for dirt cheap to bad tenants.

Thanks in advance!

@Bill S. Doesn't the CREC specifically state you need a license for any activity where you collect a fee or compensation? Wouldn't your LLC managing it's own property only get in trouble if say one member of the LLC was taking compensation for managing the property?

This is a very interesting topic to me because a lot of lawyers don't seem to know the answer. Very gray area still I think.

@Derek Lacy Thank you for the information!

@Account Closed what do you mean, depends on type of form?

Hello! We're under contract on our first rental property here in Colorado. We've been chatting with insurance brokers and a couple things have come up that I'm not sure about and don't know if they brokers really know either.

The property will be owned in the LLC's name. We plan to insure the property under the LLC's name with a dwelling policy for replacement value, and $500,000 liability coverage, along with an umbrella policy in the LLC's name. Because we're also self managing the property, my concern is that we're leaving the members of the LLC susceptible to being sued because all insurance is in the LLC's name. Or does the LLC and it's insurance inherently protect the members?

Thanks for your input!

@Colleen F.

Thanks for your input. Water isn't horribly expensive but I like the idea of a utility cap. 

I'll have to research a little and see what it costs to split the electrical for 2 units.