As of 2024, the fair market rent (FMR) price in Fort Collins, Colorado is $1,646 per month for a two-bedroom apartment according to RentData.org, which makes it 96% more expensive than other FMR areas. Because the prices are so high, landlords are finding it challenging to find tenants. On top of that, they're struggling to find quality renters too.
Your rental is a vital asset, and you can risk renting to bad tenants, even if times are bad. In this article, we'll give you efficient tenant placement solutions so you can make the most of your property in Fort Collins.
Make Targeted Online Listings
Of course, you should utilize popular rental platforms such as Zillow and Apartments.com. However, you should also focus on local Fort Collins groups on platforms like Facebook and Nextdoor.
In your listings, you should highlight the proximity of your rental to Colorado State University and Old Town to attract attention. Pointing out nearby parks and gardens is helpful too.
Use Professional Photos and Virtual Tours
Telling potential renters about your property is one thing, and showing it is another. If you don't invest in high-quality images, how can you truly represent what you're offering to them?
In addition to these high-res photos, you should offer virtual tours. Fort Collins is home to a diverse group of renters, including students, professionals, and families, so if you showcase the property online, it can speed up the rental process.
Have Competitive Pricing and Incentives
You might have a nice piece of property, but if it's not priced correctly, it'll sit empty.
As we've said earlier, the FMR price for a two-bedroom apartment in Fort Collins is $1,646 per month. However, you should research comparable properties to set competitive pricing.
To further entice renters, offer move-in specials like reduced first month's rent. This can encourage them to sign quickly.
Screen Tenants Thoroughly
Attracting more tenants is great, but if they're irresponsible, they may be more trouble than they're worth. You want to get those leases signed fast, but don't skip vital steps. You should still do:
- Background checks
- Credit check
- Reference requests
Just remember that a quality renter is less likely to cause issues. They'll save you time and money in the long run, so consider the screening process an investment.
Leverage Local Property Management Companies
All the above can be a lot to tackle solo, so consider utilizing local property management services. These companies often have a database of vetted tenants and know the specific demands in the Fort Collins rental market.
In addition, they can provide valuable help, such as tenant screening services. Your job as a landlord will be more hands-off and enjoyable.
Fast Track Tenant Placement With Our Tips
Tenant placement is never easy; you have to balance efficiency with quality. With our tips, you'll be able to streamline the process and find quality tenants while maintaining quality standards.
Of course, you can always outsource this task to a property management company like us. By leveraging our expertise, you'll have an easier time in a dynamic rental market like Fort Collins.
Would you like assistance with rental property management in Fort Collins? Then contact us today. We at PMI Northern Colorado are property leasing experts with 20 years of experience in the local market.
