Colorado Springs vs Nearby Cities
The real estate prices in Colorado Springs are more affordable than prices in many cities within a 20-mile radius. The city’s median listing price is typically around $300,000, and the median sales price is often closer to $250,000. Compare those prices to the rates in Manitou Springs, which is located about five miles west of Colorado Springs. This city often features a median listing price around $400,000. About 20 miles to the north in Black Forest, the median listing price is known to get close to $550,000.
There are some nearby cities that do offer lower prices than Colorado Springs. Pueblo, located about 40 miles to the south, is known to offer a median listing price well below $200,000.
Colorado Springs Property Managers
If you need help managing your rental properties but don’t want to hire an official employee, a property manager working as an independent contractor is a good alternative. An experienced manager can handle all aspects of a rental business, including finding the best tenants and coordinating maintenance duties for all areas of your property.
Colorado Springs Property Management Company Fees
Property managers typically base their fees on the amount of rent collected from your tenants each month. The standard management fee is often around 10 percent, but it can go a bit lower or higher for some properties. You can expect to pay additional fees if you need services not covered by the base fee.
Colorado Landlord/Tenant Laws
- Landlords have no legal limitations when determining how much to charge for a security deposit, but they must clearly state the amount charged in the rental agreement.
- Unless otherwise stated in the rental agreement, Colorado landlords have one month to return a previous tenant’s security deposit.