All Forum Posts by: Greg Scott

Hi All, 

Just incase you don't make it past this sentence, my first question is.. DOES THIS EXIST? 

Summary: I’m currently working on a project to analyze rental market trends and help real estate investors, landlords, and property managers identify high-performing areas. My goal is to build a data-driven tool that provides actionable insights into which neighborhoods and property types are in the highest demand, based on metrics like:

• Time on market: How quickly rentals are being leased.
• Property characteristics: Bedrooms, bathrooms, size, and amenities.
• Pricing trends: Rental rates relative to market demand and property features.
• Visual quality: Leveraging property photos to analyze the style and condition of rentals that perform well.

The tool will allow users to:

1. Pinpoint areas with the fastest rental turnovers.
2. Understand what types of properties (size, price range, features) rent the quickest.
3. Gain deeper insights into property presentation and amenities that correlate with high demand.

Thank you in advance for your feedback. I’m excited about the potential of this project and hope it can bring value to the real estate investment community.

Looking forward to hearing from you!

My apologies. 32 units. I will potentially move into one of the units for some time

Purchase Price: $1.98M

Assumable Existing Financing: $1.18M @ 3.48% ($5,563/month) Seller Carry: $300k @ 3.5% (5-Year Term)Down Payment: $525k (Buyer to Bring)Buyer pays all closing.

One of the best examples I found this year as to why you need a property manager (especially in Colorado). This client chose not to use our services and instead, tried to self-manage their primary. This was the very first time they had rented it; brand new landlords. The home was clean and in great condition. The showings with the tenant went well and they didn't have any questions during the showing. They moved in and within 24 hours sent the following letter (names have been changed):

"Hi Dawn and Brian,
Sindy and I are frustrated, disappointed, and really struggling with the idea of moving forward with the move into your home.
We realize this is the first time you have rented a property to someone, and may not be aware of the responsibilities that landlords have, and want to inform you that there are habitability issues with the home that are quite literally against the law, pursuant to Colorado’s Warranty of Habitability Law, CRS §§ 38-12-501 et seq. See below for explanations, with headings taken from the attached document.
Broken windows or exterior doors-
The two narrow windows in the living room do not fit into the walls properly. Both screen doors upstairs do not function correctly.

Plumbing problems-
The garbage disposal in the kitchen was not cleaned, is smelly and the rubber is flipped outwards.
The bathroom sink in the smaller bedroom does not drain correctly despite us using an entire bottle of drain cleaner on it.

Common areas that are not kept clean or have garbage-
There was no attempt to clear the patio of years of accumulated debris and filth. We as tenants had to acquire a shop vac and clean it ourselves, including dragging rugs full of filth and animal hair to the dumpsters. Window ledges had debris and dirt. Spiderwebs were all over the patio, fireplace, basement and ceilings. Upon move-in, appliances, cabinets, floors and walls all had built-up grime and residue from your habitation of the home.

Infestation of bugs, pests and rodents-
There was no attempt to treat the house for pests, as evidenced by the more than 15 spiders we have already seen in the basement, and the live, active wasp nest in the patio fence.

Floors, stairways and railings in poor condition-
The carpets are stained and smelly. The carpets covering the stairs are matted down, stained, and especially smelly. The smell has not dissipated, pointing toward a bigger problem than one shampooing can fix, and because the living room carpet was still full of indents from the previous furniture it is unlikely that the carpets were properly shampooed. Furthermore, after having a dog live in the house for 3 years there is almost certainly animal urine that has soaked through the carpet into the subfloor. To remedy that, the carpets should be ripped up and sealant applied to the subfloor, at minimum.
There are also tiles in the smaller upstairs bathroom that are lifting up and creating a safety hazard; putting a rug on top is not a sufficient solution.

The house is in a condition that materially interferes with the health of household members. Tenants have dog allergies and chronic asthma; the persistent smell and the dog hair found in multiple areas so far are harmful to our health and have, can, and will exacerbate health conditions of tenants.

We believe the issues described above present a materially dangerous or hazardous condition to the health and safety of our household. We are thus asking that you fix the problems. We are within our rights as tenants to request that you initiate a fix to the problem within the next 24 hours due to the condition of the house presenting both health and safety hazards. If you are unable or unwilling to do so we may elect to terminate the lease and request a return of our deposit--which we offered in a good faith agreement that we would be presented with a habitable dwelling--and our prorated rent. If that is the path moving forward we will be left without a home as of 9/21/24 which will create incredible financial, mental, and physical stress on our part. We hope that you can remedy the situation so that we can move into a habitable home.
Suggestions that we have to fix the issues:

• Hire a company to rip up the carpets, treat the subfloors, and replace the carpets, at least on the main level and on the stairs.
• Provide an air purifier as a start to remedying the smell.
• Replace the garbage disposal.
• Hire a plumber to fix the draining issue in the bathroom sink of the smaller bedroom.
• Fix the tiles in the upstairs bathroom so they no longer present a safety hazard.
• Replace or fix the screen doors.
• Fix the gap between the windows and the walls in the living room.
• Hire a professional company to treat the entire home for pests. This is typically done 3x a year.
• Hire a company to deep clean the washing machine, drier, and dishwasher.
• Reimburse us for the combined 8 hours we have now spent on cleaning the home.
• Repaint the walls, at minimum in the basement.
• Prorate our rent for the days we are unable to be in the home due to the current issues and any repair time.

Please let us know how you would like to proceed.
Thank you,Sindy and Cary"

You need a professional property manager!