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Ideal Lease End Dates

by The Colorado Springs Group™

In Colorado Springs, there is a major difference in the amount of rent a property can get in July vs. January. While our market is strong for a good portion of the year, making sure the lease ends during that portion ensures the property will be rented more often. It'll also be rented at a higher rate.

We will always take on new properties at any point in the year. What we do is create a lease term that makes the lease end in May, June, July, August or September. That could mean a shorter lease term for the first lease, however people will often pay more for a shorter term lease.

Also, we don't charge any extra fees to homeowners for this. If you come to us with a property in November, we are going to get you on track for ideal leasing dates. It's not going to cost you if we need to find new tenants the following summer.

2017 Third Quarter Sales Activity

by The Colorado Springs Group™

Broken down by area to give a better prospective on the results for the third quarter. Single Family & Patio Homes 

Black Forest: 66 Sales for a total dollar volume of $36,845,800

Briargate: 335 Sales for a total dollar volume of $123,978,889

Central: 248 Sales for a total dollar volume of $65,485,381

East: 308 Sales for a total dollar volume of $77,227,490

Fountain Valley: 825 Sales for a total dollar volume of $210,977,027

Falcon - Peyton: 326 Sales for a total dollar volume of $107,750,935

Marksheffel: 130 Sales for a total dollar volume of $41,286,736

Northeast: 313 Sales for a total dollar volume of $94,148,175

Northwest: 130 Sales for a total dollar volume of $51,987,698

Northgate: 185 Sales for a total dollar volume of $85,996,181

Old Colorado City: 81 Sales for a total dollar volume of $23,016,401

Powers: 456 Sales for a total dollar volume of $127,791,182

Southeast: 299 Sales for a total dollar volume of $62,190,856

Southwest: 205 Sales for a total dollar volume of $80,618,877

Tri-Lakes: 235 Sales for a total dollar volume of $113,831,422

West: 94 Sales for a total dollar volume of $31,811,751

"Based on information from the Pikes Peak REALTOR Services Corp. ("RSC"), for the period 7-1-2017 through 9-30-2017.  RSC does not guarantee or is in any way responsible for its accuracy.  Data maintained by RSC may not reflect all real estate activity in the market."

2017 September Sales Activity

by The Colorado Springs Group™

Broken down by area to give a better prospective on the results for September. Single Family & Patio Homes

Black Forest: 25 Sales for a total dollar volume of $12,987,000

Briargate: 108 Sales for a total dollar volume of $38,519,806

Central: 80 Sales for a total dollar volume of $19,905,612

East: 103 Sales for a total dollar volume of $26,402,380

Fountain Valley: 262 Sales for a total dollar volume of $66,814,119

Falcon - Peyton: 90 Sales for a total dollar volume of $29,132,889

Marksheffel: 42 Sales for a total dollar volume of $13,246,325

Northeast: 94 Sales for a total dollar volume of $26,639,850

Northwest: 38 Sales for a total dollar volume of $15,695,699

Northgate: 49 Sales for a total dollar volume of $23,215,328

Old Colorado City: 28 Sales for a total dollar volume of $7,289,462

Powers: 142 Sales for a total dollar volume of $39,859,814

Southeast: 96 Sales for a total dollar volume of $19,070,690

Southwest: 63 Sales for a total dollar volume of $25,172,425

Tri-Lakes: 73 Sales for a total dollar volume of $33,505,669

West: 28 Sales for a total dollar volume of $9,998,600 

"Based on information from the Pikes Peak REALTOR Services Corp. ("RSC"), for the period 9-1-2017 through 9-30-2017.  RSC does not guarantee or is in any way responsible for its accuracy.  Data maintained by RSC may not reflect all real estate activity in the market."

2017 August Sales Activity

by The Colorado Springs Group™

Broken down by area to give a better prospective on the results for August. Single Family & Patio Homes

Black Forest: 18 Sales for a total dollar volume of $10,658,100

Briargate: 102 Sales for a total dollar volume of $37,275,406

Central: 84 Sales for a total dollar volume of $22,249,689

East: 103 Sales for a total dollar volume of $25,434,846

Fountain Valley: 293 Sales for a total dollar volume of $73,576,469

Falcon - Peyton: 108 Sales for a total dollar volume of $35,063,863

Marksheffel: 48 Sales for a total dollar volume of $14,682,289

Northeast: 108 Sales for a total dollar volume of $34,836,050

Northwest: 41 Sales for a total dollar volume of $16,128,849

Northgate: 62 Sales for a total dollar volume of $28,180,037

Old Colorado City: 32 Sales for a total dollar volume of $9,485,789

Powers: 172 Sales for a total dollar volume of $48,001,909

Southeast: 106 Sales for a total dollar volume of $22,738,347

Southwest: 70 Sales for a total dollar volume of $26,128,215

Tri-Lakes: 86 Sales for a total dollar volume of $43,294,911

West: 35 Sales for a total dollar volume of $12,673,800

"Based on information from the Pikes Peak REALTOR Services Corp. ("RSC"), for the period 8-1-2017 through 8-31-2017.  RSC does not guarantee or is in any way responsible for its accuracy.  Data maintained by RSC may not reflect all real estate activity in the market."

2017 July Sales Activity

by The Colorado Springs Group™

Broken down by area to give a better prospective on the results for July. Single Family & Patio Homes

Black Forest: 23 Sales for a total dollar volume of $13,200,700

Briargate: 125 Sales for a total dollar volume of $48,188,677

Central: 84 Sales for a total dollar volume of $23,333,920

East: 102 Sales for a total dollar volume of $25,390,264

Fountain Valley: 270 Sales for a total dollar volume of $70,596,978

Falcon - Peyton: 128 Sales for a total dollar volume of $43,554,183

Marksheffel: 40 Sales for a total dollar volume of $13,358,122

Northeast: 111 Sales for a total dollar volume of $32,674,275

Northwest: 51 Sales for a total dollar volume of $20,162,150

Northgate: 74 Sales for a total dollar volume of $34,600,816

Old Colorado City: 22 Sales for a total dollar volume of $6,640,200

Powers: 142 Sales for a total dollar volume of $39,917,959

Southeast: 97 Sales for a total dollar volume of $20,368,569

Southwest: 72 Sales for a total dollar volume of $29,333,237

Tri-Lakes: 76 Sales for a total dollar volume of $37,030,842

West: 31 Sales for a total dollar volume of $9,139,351

"Based on information from the Pikes Peak REALTOR Services Corp. ("RSC"), for the period 7-1-2017 through 7-31-2017.  RSC does not guarantee or is in any way responsible for its accuracy.  Data maintained by RSC may not reflect all real estate activity in the market."

2017 Second Quarter Sales Activity

by The Colorado Springs Group™

Broken down by area to give a better prospective on the results for the second quarter. Single Family & Patio Homes

Black Forest: 47 Sales for a total dollar volume of $25,303,429

Briargate: 349 Sales for a total dollar volume of $134,329,535

Central: 248 Sales for a total dollar volume of $63,584,524

East: 252 Sales for a total dollar volume of $62,124,629

Fountain Valley: 765 Sales for a total dollar volume of $189,524,583

Falcon - Peyton: 345 Sales for a total dollar volume of $112,176,863

Marksheffel: 152 Sales for a total dollar volume of $48,411,597

Northeast: 333 Sales for a total dollar volume of $98,607,022

Northwest: 130 Sales for a total dollar volume of $55,358,123

Northgate: 189 Sales for a total dollar volume of $91,386,590

Old Colorado City: 68 Sales for a total dollar volume of $19,462,597

Powers: 526 Sales for a total dollar volume of $146,125,211

Southeast: 243 Sales for a total dollar volume of $50,232,656

Southwest: 234 Sales for a total dollar volume of $97,433,814

Tri-Lakes: 231 Sales for a total dollar volume of $117,309,263

West: 71 Sales for a total dollar volume of $26,277,457

"Based on information from the Pikes Peak REALTOR Services Corp. ("RSC"), for the period 4-1-2017 through 6-30-2017.  RSC does not guarantee or is in any way responsible for its accuracy.  Data maintained by RSC may not reflect all real estate activity in the market."

2017 June Sales Activity

by The Colorado Springs Group™

Broken down by area to give a better prospective on the results for June. Single Family & Patio Homes

Black Forest: 17 Sales for a total dollar volume of $9,969,500

Briargate: 127 Sales for a total dollar volume of $49,384,500

Central: 96 Sales for a total dollar volume of $24,744,897

East: 76 Sales for a total dollar volume of $18,687,507

Fountain Valley: 282 Sales for a total dollar volume of $72,236,352

Falcon - Peyton: 129 Sales for a total dollar volume of $42,494,800

Marksheffel: 60 Sales for a total dollar volume of $20,036,927

Northeast: 129 Sales for a total dollar volume of $37,428,535

Northwest: 45 Sales for a total dollar volume of $18,405,600

Northgate: 68 Sales for a total dollar volume of $33,052,223

Old Colorado City: 22 Sales for a total dollar volume of $5,642,031

Powers: 196 Sales for a total dollar volume of $55,311,503

Southeast: 107 Sales for a total dollar volume of $22,929,581

Southwest: 91 Sales for a total dollar volume of $40,652,604

Tri-Lakes: 108 Sales for a total dollar volume of $55,004,379

West: 25 Sales for a total dollar volume of $9,061,057

"Based on information from the Pikes Peak REALTOR Services Corp. ("RSC"), for the period 6-1-2017 through 6-30-2017.  RSC does not guarantee or is in any way responsible for its accuracy.  Data maintained by RSC may not reflect all real estate activity in the market."

2017 May Sales Activity

by The Colorado Springs Group™

Broken down by area to give a better prospective on the results for May. Single Family & Patio Homes

Black Forest: 15 Sales for a total dollar volume of $7,203,929

Briargate: 120 Sales for a total dollar volume of $46,644,287

Central: 84 Sales for a total dollar volume of $19,731,052

East: 99 Sales for a total dollar volume of $23,854,050

Fountain Valley: 260 Sales for a total dollar volume of $63,670,895

Falcon - Peyton: 116 Sales for a total dollar volume of $37,703,811

Marksheffel: 47 Sales for a total dollar volume of $14,519,967

Northeast: 119 Sales for a total dollar volume of $35,294,562

Northwest: 41 Sales for a total dollar volume of $18,871,373

Northgate: 72 Sales for a total dollar volume of $35,538,096

Old Colorado City: 28 Sales for a total dollar volume of $9,074,123

Powers: 204 Sales for a total dollar volume of $56,863,040

Southeast: 64 Sales for a total dollar volume of $13,167,100

Southwest: 86 Sales for a total dollar volume of $34,391,576

Tri-Lakes: 72 Sales for a total dollar volume of $37,600,151

West: 29 Sales for a total dollar volume of $10,958,300

"Based on information from the Pikes Peak REALTOR Services Corp. ("RSC"), for the period 5-1-2017 through 5-31-2017.  RSC does not guarantee or is in any way responsible for its accuracy.  Data maintained by RSC may not reflect all real estate activity in the market."

How Much Does A Vacancy Actually Cost?

by The Colorado Springs Group™

Rental vacancies are a common thing when there is tenant turnover. The length of vacancy can be just a day to months. A lot of it depends on your property manager and how good they are.

This is a cost to homeowners that is rarely given consideration when interviewing property managers. Good property managers can find tenants who will sign a multi-year lease. When this happens, you're protected against vacancy cost because the same tenant is going to occupy the home for a longer period of time.

Just as an example, let's say you're renting a home for $2,000 per month, and the average vacancy time for an area is 2 weeks. Finding a tenant who signs a 3 year lease vs. a tenant who signs a 1 year lease means there is a difference of 2 vacancy periods by the time the 3 year lease is up. Those 2 vacancy periods with an average of 2 weeks each comes out to almost a full month's rent - $2,000. That's equal to 10 months of property manager fees at 10% per month. This situation can turn a profitable property into a loss.

How fast is your property manager at filling vacancies? This can depend on a lot of things, all of them revolving around your property manager's organization and abilities. Finding better tenants to begin with means a shorter turnover period simply because the home is going to be in better condition when possession is given back to the property manager. Using professional photos, and/or doing open houses can also help reduce the time.

Right now we can turn over most homes in 2 days. There are reasons for our ability to find and place great tenants. We have clear expectations on what we expect from tenants. Our company is very proactive in all searches for new tenants. We have a team of people ready to go for any necessary repairs and upkeep between tenants. The way our leases are drawn up there is a lot of protection to ensure seamless transition between tenants.

2017 April Sales Activity

by The Colorado Springs Group™

Broken down by area to give a better prospective on the results for April. Single Family & Patio Homes

Black Forest: 15 Sales for a total dollar volume of $8,131,500

Briargate: 102 Sales for a total dollar volume of $38,298,028

Central: 68 Sales for a total dollar volume of $19,106,575

East: 77 Sales for a total dollar volume of $19,589,072

Fountain Valley: 223 Sales for a total dollar volume of $53,556,855

Falcon - Peyton: 100 Sales for a total dollar volume of $31,978,627

Marksheffel: 45 Sales for a total dollar volume of $13,863,703

Northeast: 85 Sales for a total dollar volume of $25,895,361

Northwest: 44 Sales for a total dollar volume of $18,081,150

Northgate: 50 Sales for a total dollar volume of $23,286,643

Old Colorado City: 18 Sales for a total dollar volume of $4,746,443

Powers: 126 Sales for a total dollar volume of $33,956,591

Southeast: 72 Sales for a total dollar volume of $14,135,975

Southwest: 57 Sales for a total dollar volume of $22,395,634

Tri-Lakes: 51 Sales for a total dollar volume of $24,704,733

West: 17 Sales for a total dollar volume of $6,258,100

"Based on information from the Pikes Peak REALTOR Services Corp. ("RSC"), for the period 4-1-2017 through 4-30-2017.  RSC does not guarantee or is in any way responsible for its accuracy.  Data maintained by RSC may not reflect all real estate activity in the market."

Displaying blog entries 1-10 of 397

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The Colorado Springs Group™
6665 Wild Indigo Drive
Colorado Springs CO 80923
(719) 799-3686

Kevin & Jessica
The Colorado Springs Group
6665 Wild Indigo Drive
Colorado Springs, CO 80923
(719) 799-3686