Looking to sell? It might be smarter to rent your property out!

A quick history lesson: before the great housing recession of 2008, it was a little too easy to get a loan to buy a house that was much more than the house was really worth. For a multitude of reasons (that the movie The Big Short nicely popularizes), this caused a lot of problems, and now banks can be overly hesitant to make loans to buyers. As a result, the rental market has surged as an option for first-time homebuyers looking to build up a nice-looking loan portfolio. Denver in particular has become a popular destination for young professionals seeking to rent for a while before deciding whether to buy.

Here’s where your property comes in: rather than waiting for someone to make an offer on your house that is contingent upon financing that may or may not come through from risk-averse banks, you could make a good profit on renting your property out. Rents are high enough now that, in most parts of Denver, you can make enough to cover your mortgage payment, property maintenance, and then some.

Storey Real Estate & Construction manages a number of properties in the Denver area and therefore can give counsel on pricing your rental property and best practices for landlording. You can also find some tips on managing a rental property here.

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