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Tips for Landlords

So you want to be a landlord?

Being a landlord can be a scary undertaking. Like most things, the more frequent comments are about what might go wrong. Few people talk about when it goes right or how to prepare and prevent those negative scenarios. Here are a few preparation and prevention tips for landlords.

Insurance

Talk to your homeowner’s insurance agent. Tell them your plans and have them quote a policy that will give you the protections you need. If you rent your home and don’t change your insurance policy, it may not cover damage that occurs while it was rented. A policy feature to cover income losses may also be available.

Carbon Monoxide & Smoke Alarms

Colorado requires homes to have a carbon monoxide detector within 15 feet of sleeping areas. It is up to the homeowner to ensure they were in place at the time of the rental. Plug in detectors are readily available and do not require any special installation as long as there is an outlet available.

Your home should also include working smoke alarms. It is recommended that the batteries be changed in the smoke alarms between renters or, at minimum, on an annual basis.

Property Condition

We strongly encourage all tenants to let us know if there are concerns with a property during their lease. However, there is always a chance minor issues can go unnoticed. We recommend having a home inspection between renters or if it has been a while since you have used your home yourself. A home inspection will cost a few hundred dollars depending on the size of the home. It can identify minor issues that, if addressed, can prevent them from becoming major issues later. Safety issues will also be identified during a home inspection. You should be prepared to fix all safety issues.

Utilities

If your Summit County property is a condo or townhome that has some or all utilities covered in HOA dues, you don’t need to think much about utilities. The rent will include those utilities provided through the HOA. However, if you have a single family home or a property where you pay the bills yourself, who pays for what needs to be addressed. Gas and electric service is most commonly transferred into the tenants’ names. Xcel Energy connects the charges to the party, not the property. That means if your tenants do not pay their bill, it doesn’t come back to the homeowner. Water and sewer bills are just the opposite. If those bills are not paid, the provider can place a lien on the property. We recommend homeowners pay for water and sewer as well as driveway snow removal. Decks, walks and stairs can be cleared by the tenants. Don’t forget about TV and internet service too. Are you ok with a satellite dish mounted on your house if that’s what they choose? If not, those may services you want to include in the rent.

If you have more questions, check out our Property Management FAQs.

About Us

Mountain Living Real Estate, a.k.a. The Mountain Living Team, is a family owned, second generation, real estate company that has been helping buyers and sellers in Summit County since the early 90’s.  Mountain Living Real Estate is committed to going above and beyond to ensure their clients have the most amazing real estate experience possible.  Jason & Meredith take a personal approach to educate their clients, empowering them to make high quality decisions no matter the situation.  They take exceptional care throughout the sales process and beyond; striving to make each client’s path in Summit County one filled with fun, excitement & great memories.

Work with Mountain Living Real Estate and you’ll understand why so many people say, “We Love Mountain Living!”

Testimonials

View from Silverthorne

Professionally executed from start to finish

William from TX Mountain Living Real Estate November 25, 2020

Honest and realistic about pricing and negotiating. On the clients side for negotiations. Willing to go extra mile for anything we needed since we were out of state.

Kristin from VA Mountain Living Real Estate October 6, 2020

Thank you Jason and Meridith for all you did . We were very impressed from the start to the finish . Jason was very timely with his responses to any questions or concerns we had . His very calm and professional demeanor was most reassuring. The photos that Meridith took were professional grade . All Continue Reading

John from Idaho Springs, CO Mountain Living Real Estate October 2, 2020

Jason and Meredith exemplify what real estate agents should be.  We purchased two homes and sold one with them.  The attention to detail was outstanding.  It is rare in today’s world to find such a high level of customer service.   Jason and Meredith handle everything and go way above and beyond what other agents would do.  The online tools, calendar Continue Reading

Wendy from Pine, CO Mountain Living Real Estate September 14, 2020

La Riva del Lago

Thank you for going above and beyond to sell and help me close! You have been a great resource for us. We so appreciate it!

Sheila from KS Mountain Living Real Estate September 10, 2020

Most impressed with timeliness and response – working with us late in the evening. It was a pleasure. Appreciate the opportunity to work with you.

Kevin from Highlands Ranch Mountain Living Real Estate September 4, 2020

You did a wonderful job. You went up to the condo several times. Not only did you take pictures, but you set up the dining table, etc. for better showing. You came in for inspection follow up, etc. All much appreciated!! All the extra special touches and great communication from listing to closing meant a Continue Reading

Pat from Broomfield, CO Mountain Living Real Estate July 11, 2020

You went above and beyond our expectations to check out the Wetterhorn unit! You know what we like and saw the opportunity for us to purchase a unit we will enjoy!

Linda from Texas Mountain Living Real Estate June 30, 2020

Buffalo Ridge Condo

We were most impressed with the willingness to get the job done under difficult situations.

John from Manitou Springs, CO Mountain Living Real Estate April 13, 2020

January Sales get a Thumbs Up

Good communication and quick response. Knowledge of area and market. Pleasant attitude through it all.

Stacey from Texas Mountain Living Real Estate March 1, 2020

Contact Us


Jason and Meredith Adams

Jason & Meredith Adams
Mountain Living Real Estate

101 Main St, #109, PO Box 4115 Frisco, CO 80443

(888) 666-0844
team@mountain-living.com
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