FORT COLLINS, Colo., October 6, 2022 /PRNewswire/ — 78% of independents Colorado landlords have indicated that they do not plan to buy more property this year, according to a recent study conducted by TurboTenant.

And it’s no surprise that when we look at housing prices in cities like Fort Collins. Zillow indicates the average Fort Collins the value of the house is $585,128, an impressive 15.9% year-over-year increase. In neighborhoods like Old Town North, home values ​​skyrocket $759,321an increase of 21.1% year-on-year.

While house prices have risen at a healthy pace, monthly rental income has not kept pace Northern Colorado owners. TurboTenant Rental Data Center indicates that the median rent for a two-bedroom unit Fort Collins only increased by $100i.e. 7.1%, since 2021.

TurboTenant rolled out eight surveys to landlord and tenant audiences in the first half of 2022, garnering over 4,000 complete responses. Their four-part report explains why people are becoming homeowners, how owners plan to grow their business, and whether they would buy more real estate before the end of the year. See the full report on the state of the rental industry here.

“It was no surprise to hear from independent owners here at Colorado are suspending their portfolio growth efforts, based on our report. Although there has been some decline in house prices nationally, Northern Colorado remains one of the most attractive real estate markets in the country,” said Seamus Nally, CEO of TurboTenant. “If local housing prices flatten or fall, I expect independent owners to quickly begin to grow their portfolios again. In the current climate with rising interest rates, they gain an advantage since independent owners are not limited not financing with conventional mortgages. Also, recessions generally put upward pressure on the rental market, which we expect.”

About TurboTenant

Over 450,000 independent homeowners across the United States benefit from TurboTenant’s free, all-in-one online property management solutions. Features offered by TurboTenant include rental applications, tenant screening, real estate marketing, rent payments, rental agreements and rental reports. Please contact [email protected] for specific data requests.

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Krista Reuther
TurboTenant
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