Longmont vs Nearby Cities
The real estate market in Longmont features mid-market prices in north-central Colorado. The city’s median listing price is around $450,000, and it’s expected to increase with time. The median listing price is around $250 per square foot, and the median rent price is around $2,000 per month. This is comparable to nearby Loveland, which features a median listing price close to $400,000 or about $250 per square foot. Greeley offers slightly lower prices with a median listing price closer to $300,000 and a median rent price around $1,500 per month. Higher prices are found in larger cities like Broomfield and Boulder.
Longmont Property Managers
Professional property managers represent the interests of property owners in Longmont and surrounding cities. They can collect rent, pay property bills, oversee property repairs and maintenance, and even represent property owners during eviction proceedings. This takes the stress off property managers and protects the profitability of each rental unit.
Longmont Property Management Fees
Property managers typically charge a base management fee plus added fees for certain services. The management fee is usually a percentage of the rent collected from tenants and may go as high as 15 percent in some regions. Vacancy fees are often added to compensate the property manager when one or more rental units are unoccupied.
Colorado Landlord/Tenant Laws
- Landlords in Colorado have up to one month to return a tenant’s security deposit after they vacate the rental unit.
- When a landlord fails to return a tenant’s security deposit within the legal time limit, the tenant may file a lawsuit worth up to $7,500 in damages.