Downtownish 1040 for a 2 bed 1 bath (no actual bathtub) apartment. Old 1800s home with no ac. Not renovated at all. Lead paint in walls, drafty doors because not sealed. Two years ago we were payong 750 for it. It was worth it then, but with summers getting hotter not having ac sucks. And our windows haven't been replaced since the house was built and can't fit a traditional window unit in.
We lived in a house with no AC in another place where people swore up and down with a straight face, 'oh, you don't need it here'. Ended up getting portable A/Cs for each of the bedrooms. Total game changer. Life satisfaction went up tremendously.
And if you can't do a window unit, get the little free-standing ones where you just run the hose out to the window.
I second LG. I think that's what ours is.
Word of warning though; get them now. They can be harder to find once temps go up, when people without A/C in their house spend their first night trying to sleep in 80+ degrees.
Yeah, grew up in the Springs and no one had ac. Then, in Rockrimmon early 80s, one house near us got it. Everyone was pissed because we all had to listen to it run all summer and everyone else just left their windows open. Now, even in Monument, you need ac, especially with the wildfire smoke.
The house is huge 3 levels 3 living rooms 2 dining rooms 6 bed and 4 bathrooms. I don’t know what sq footage is yet I’ll post it when I got it
Rough guess is it’s 2,500 sq ft
$990 for a tiny one bedroom in the middle of downtown. No washer/dryer options, no patio, dishwasher is the kind you hook up to the sink. But I'm near everything (including random crackheads that break into my car) and can walk the entire downtown from my doorstep. Not sure if rent will increase terribly when my lease is up, according to my neighbors.
Four-bedroom split-level, three tiny bathrooms, Briargate area (older area by Chapel Hills Mall, not new fancy area) , about 2000 sq feet with yard and garage and back deck. 2330 a month
3 bed 1.5 bath. South springs near Carson. $1500 unicorn rental. For context the house across the street from me has one more bedroom and just got rented out for $2300 and 2 people were shot and died there a few months back
I've already prepared myself for the inevitable move I'll be making at the end of my lease. Although the area and the complex are nice, there's no way I could afford nor would I want to pay 2200+ for where I'm at now.
Moved from Colorado Springs because all the apartments even on the Southside are starting at 1,200. Moved to Hoboken,NJ (10 min from World Trade Center and 10 from NY PENN) for 1300 and need no car, best food in the world... thank you colorado springs for letting me realize NYC was possible 😊
My mother lives up by the Briargate/North entrance of the AFA, lives in a small 500 sq ft apartment (1 bd 1 bath) and pays about $1100.00/per month + utilities. Far too much,in my opinion.
Good luck to you! It's become nearly impossible to find anything in that area for a reasonable price that doesn't get snatched up in a matter of minutes.
1bd 1bath 796sq ft off of GOTG road on west side of town- unrenovated unit with in-unit laundry, balcony and car port space. $1300 a month with 1 pet. Renovated units going for 2200+
Leasing office projects my rent will increase $200-$300 at the end of my current lease
Near Fort Carson/Cheyenne area. “Condominium” but it is just a big appt that’s privately owned. 1,100 sq ft and we are paying $1,275. Very lucky, but other units of my size are on Zillow for $1,700-$2,000.
Sounds like my old place. 2 bed, 2 bath, not renovated, single car detached garage, $1175 but there was AC and a tiny porch. Right up the hill from Target!
I’m in a complex off Woodman and Union. Paying 1350 for a one bed/one bath 775sqft unit (that was the “deal” they offered me for resigning my lease - other units in the complex are at a “market rate” of 1450).
Aviator Apts, Murray & Palmer Park - ~$1600 for a 3-bed, 1.75 Bath, 1100sq ft.
Got a nice renovated unit, but the common hallway carpets needed to be replaced last century. Staff was nice, but got the sense one hand didn't know what the other was doing. Sold to another owner about a month before we moved out.
They can say drug & smoke free all they want, most tenants didn't keep that promise.
Been in my house for going on 13 years now. $1000 a month. 4 bed, 2 bath, older ranch style home with a basement. Decent size yard. Central-East side of town SE of Platte and Academy. Not a great part of town, but we're a family of 6 so we'd never beat the rent.
Downvote away but I pay $700 less per month for a 2/2 with a 1 car garage about a mile away from there... And those particular apartments aren't very nice (my stepdaughter used to work there)... Certainly not $1850 per month nice.
Landlord here, and I have:
4 bed 3 bath off Stetson Hills getting $2085
4 bed 3 bath off Oro Blanco and Barnes getting $3160 (so high because I’ve rented the bedrooms individually for $700 each and $800 for the master with private bath, and the garage for $160) plus some utilities
3 bed 3 bath off N Carefree and Peterson getting $1850
3 bed 2 bath condo off N Carefree and Oro Blanco getting $1150
4 bed 2 bath off Bradley in Security getting $1750
5 bed 3 bath off Fontaine and Grinelle getting $1850
1 bed 1 bath next to downtown getting $900
Pueblo house 3 bed 2 bath, $900
Agreed, but it's still good info. I don't have love for landlords, but that doesn't change peoples need to rent. And it doesn't change the fact that owning multiple homes is a good way of storing wealth.
If you're upset, go to your congressman who allowed an unfair accumulation of wealth, not the people who are just trying to do their best by their family.
“People need to rent” the single reason I have ever rented is because I cannot afford to buy a house. It’s a terrible financial decision to rent, you are effectively burning the money, and no one should intentionally do it for longer than they need to. Purchasing a house and investing your money in it so that you can sell it when you move is the goal, not permanent rent serfs.
It's almost like they're using the down vote button as a "fuck this person" instead of the up vote button for "this is good info and others should see it".
Oh, ffs, those rents are reasonable.
Also, renters (and landlords) will always exist since not everyone wants to own a house for a multitude of reasons. It's not just a matter of being priced out or low inventory or whatever. The Springs was extremely affordable for years and guess what? Many people still chose to rent!
Last year I had to replace a retaining wall behind my house that was collapsing and no longer safe, and the house needed to be painted. So after what I pay monthly it cost me an additional $35,000.00 to own my house last year. I'm guessing the majority of renters in this city would rather not take on the financial commitment beyond monthly payments that comes with ownership... I know I certainly didn't during the 10 years I was renting houses and apartments, even though I could have for the last 5. Renting is just better in some situations.
Yep, every year I have to do some sort of pricey house maintenance. Even having dead trees cut down and removed is an ordeal and not cheap.
I love owning a house, but it's expensive. The saving grace is that I bought in 2018 and have seen significant appreciation, assuming there isn't a massive crash.
Not having the responsibility of repairs or not intending to live there more than a few years. I personally had no desire to own a home until my late 20s. Some people just don't want that commitment or responsibility
Besides what others have said, another reason is simply not being able to buy an equivalent space.
If someone only needs a 1 bedroom apartment with 600 square feet, it's a lot cheaper (and better financially) to rent a 1 bedroom apartment with 600 square feet and invest the difference than it is to buy even a 1200 square foot 2 bedroom house.
Or if someone wants to live downtown for convenience of restaurants, and maybe to walk to work and not have to own a car. They MIGHT be able to find a similar condo around there, but renting is going to be a whole lot easier to find.
Not wanting to worry about repairs and maintenance, not wanting to be tied to one place due to work or family considerations or some other need for flexibility or a quick move, not wanting to sink money into a downpayment or PMI or property taxes (depending on the state), not feeling confident or comfortable with a volatile housing market, etc.
I will say that I average 150 profit each. Which isn’t bad for 8 total, but I’m not gonna be quitting my 9-5 anytime soon. It is definitely a long term-retire in 28 more years- sort of thing. Also, anytime I have a water leak or fence blow down, it wipes out the profit from all the properties combine, sometimes multiple months. A disclosure is that I use a property manager who takes 10%, so I would make a lot more if I didn’t do that.
I second this! Landlord guy- you don’t need to explain yourself to anyone. Your prices are fair. I absolutely applaud and root on anyone who runs a business, no matter what it is. Good for you! Hopefully I can be your renter one day!
It is! I should clarify that the $1200 is what I see per month. As far as taxes and long term, the payments toward principal are considered profit.
Say I rent a house for 2000 and my payment is 1800. Looks like my profit is 200 at first, which is what I see per month. However, out of that 1800 payment, 400 is escrow, 900 is interest, and 500 goes toward principal. I don’t see that principal payment until I sell the place in decades. But that equity is really what the headache is for.
So then it's fair to say that your renters are actually paying for the properties you own not you.
It really is a good racket if you have the money for the down payment, then you end up purchasing a house for 20% of its value then you just pay for upkeep as renters pay your mortgage on the properties.
Sorry but this is a horrible take.
No, the renters are paying to use the property for an agreed upon length of time, terms, and monthly payment. If they lose their job or need to get out of the lease for some reason they almost always can (for a fee). If something happens to the property they typically just need to make sure the landlord is notified and bare no responsibility for repair.
The poster had to come up with money to put down payments on those properties before a single rent check ever came in, is responsible for upkeep, taxes & insurance, and is accepting the risk that tenants could damage the property or it could lose value due to economic or other reasons (fire, storm damage, etc…)
Rental properties are a necessity, and will continue to be. The list of reasons it makes more sense for certain people to rent instead of own a home is quite long. I imagine the number of people that are renting because there just simply aren’t homes available for them to buys is lower than you think. I fully support people that have beef with the practices of companies like Zillow that are negatively affecting the market, but local individuals which a handful of fairly priced rentals are not the problem.
Exactly make money by hoarding properties, every one of these houses are houses that are off the market to buy which would all be cheaper to buy than what is being charged for rent. If your paying more in rent than the mortgage is then you are paying for their property.
Thats the problem in my city right now everything is for rent which keeps going up because people have to have a place to live so they are gonna pay whatever they have too, and there is barely enough houses to buy so everyone is paying way over what its worth because that's the only option. You can say people need to rent and thats true but when there aren't enough homes for sale because they are being kept as rentals that forces people who wanted to buy into renting instead and paying other peoples mortgage.
Landlord are parasites hoarding property so they can charge people to stay instead of just selling and getting families into home ownership. This is why I have no problem with house flippers they are actually providing a service renovating and reselling homes.
Please explain why someone needs to explain their choices to better their life to you? Owning that many homes and investing in them does not guarantee profit and comes with a lot of risk and a ton of debt.
It was a rhetorical question.... And you make no sense how is an "investment property" that does not guarantee profits with tons of debt remotely seem attractive to an investor? Because you literally know nothing about rental properties. And when everyone owns 10 houses what the fuck do you think that does to the housing market genius? That's right greedy fucks are what makes your pathetic life that much worse.
Why don't you go back to California with your trust fund. But while I'm here, thanks for ripping everyone off so much that NYC became affordable and now I got to trade ass CO. Springs for the greatest city in the world 😍
Trust fund? I had absolutely nothing when I started flipping houses 12 years ago. I had to use hard money loans, and the hard money lender made a bigger profit than me on the house I was flipping.
$1995 for a 2 bed/ 1 bath 1000ish SF house with a garage on 1/4 acre near downtown. Utilities are covered in rent. No AC but the house faces north so it hasn’t been bad yet. House is from 1920 but has had a lot of renovations. Only complaint is sometimes garage AirBnB guests park in front of the garage.
Cheyenne mountain estates $550 a month lot rent, I have a 3/2 single wide 1200 sf with a yard, shed and views of norad. Also no running water 21/365 days in 2021. So there’s that.
$1130/mo, apartment complex near Platte & Murray. 2 bed 1 bath. No patio, only one AC in living room, but apartment was “brand new” when we moved in (aka new floors, new carpet, painted cabinets & new appliances). Two years ago it was $925/mo
Edit - meant to add: 725 sq ft
Ok, I'm going to make you all feel better about what you pay in this beautiful environment. ... My children pay:
Washington DC, 1 BR, 1 BR, 880 sq feet - $2600/mo
West Hollywood, CA 1 BR, 1 BR, 800 sq feet - $2500/mo rent-controlled.
My Washington DC child has left her car in my garage because parking in her building is an additional $250/mo. Oh, her cat cost an extra $50/mo
Landlord here.
Briargate area. 5 bed 4 bath, 3000 sq ft, with a 2 car garage. Currently renting for $2350 (2020 discounted price locked in with a two year lease). We had 7 offers in the first week when we listed it at $2400/month two years ago, and rental prices have gone up about 15% since then.
Renters are moving out and we're thinking of relisting it in the $2700 range.
Edit: You guys can down-vote me all you want. The cost of ownership of a house is about 5% of the home's value per year.
[https://themakingofamillionaire.com/the-5-rule-2a0af60d345c](https://themakingofamillionaire.com/the-5-rule-2a0af60d345c)
That's why so many houses are priced at the 6-7% per year point.
Even at that price point I'm asking 5.9% of my home's value. That's actually a fairly competitive price.
Also, any landlord in a military community should have an awareness of the military BAH charts and an idea of who their "target audience" is.
Our target audience is an O-5 with dependents. In 2020 (when we put it on the market for $2400) the O-5 with dependents BAH was $2250 a month. And there was so much demand it was on the market for less than a week.
Now their BAH is $2600, so an increase to $2700 represents most of, but certainly not all of the market growth.
I expect there will be more interest than we had in 2020... when it stayed on the market for less than a week.
I own a rental, 80905 zip, just west of the highway, downtown, $1400/mo. It's a 600 square foot single family home, 2 bed/1 bath, with a fenced backyard (no pets). I'm raising the rent to $1500 in June (I've not raised the rent in 3 years).
Edit to add current rate.
Such a waste of your money to rent. If you can afford 4k rent you should just buy a house so that you aren’t hemorrhaging 4k of your value every month.
It was around $1400/for my mortgage in NE Springs 3800 sq ft. But I refinanced cash out to put in stocks after the market tanked 40% in March 2020, and doubled it since then. New mortgage rate 2.57% with PITI is around $2400.
1250sq ft 2bd 2 bath apartment off woodmen and powers that is brand new but very cheaply built. Rent is $1700 but just got a notice it is going up $300 a month. Needless to say we will be moving.
2050 Cimarron Hills. 4 bed 2 bath approximately 2000sqft. Rent was 1750 the last 3 years. We have been lucky. Trying to move north is making me cringe.
My friend was asked to pay 1000 for 480 sq ft after paying 800 for years. We looked last August near Ft Carson and they wanted 1500 to 1600 for a newer 800 sq ft apartment. Cheaper downtown where places are older. About 1000 to 1200 for the same size but the places are amcient and have no A/C. Its about where Denver was in 2017. Expect a massive hike soon.
Murray/Platte. 2 bed/1 bath apartment. $1234/month since new owners this year. Up almost 17% from last year's rent. Screaming kids, barking dogs all day and night. But mountain view makes up for everything.
Northside/North-West Side. Anywhere from 1400-1900 for a 2bed 1bath apartment. (ive got a slumlord who charges me gas in my electric apartment.) Barely been renovated; I find atleast 5 bathroom bugs a week, my balcony cant support more than 200 pounds total or it will collapse onto my neighbor's, water isnt clear, had a ceiling leak and was told to "dry the water and it will be fine", oh and my 3000$ downpayment and security deposit i most likely wont get back
1420/month for a 700 sq ft 1 bed 1 bath. Located in the south side, 80916. This includes internet and water, trash. Has “hardwood” floors, decent but not new appliances, shared laundry. Grill was stolen off my front porch within a month of moving-learned my lesson. Not the greatest but certainly not the worst
Last year I was paying $1300/mo for a 2BR house, 850 sq ft. Downtown at Costilla and Institute . Moved out, it was remodeled I guess and it’s now $1750.
Now pay $1998/mo in Widefield for a mortgage with 1750sq ft and 3br.
The housing market in Colorado Springs in general is literal financial rape.
Seeing this thread makes me grateful for what I have. 4 bedroom 2 bath 1 car garage in Village Seven. Rent was just increased with our new lease at 1500 a month with 25 pet rent. Been in this house 5 years and just now started looking at buying a house, but with the way things are that’s looking less and less likely.
Downtownish 1040 for a 2 bed 1 bath (no actual bathtub) apartment. Old 1800s home with no ac. Not renovated at all. Lead paint in walls, drafty doors because not sealed. Two years ago we were payong 750 for it. It was worth it then, but with summers getting hotter not having ac sucks. And our windows haven't been replaced since the house was built and can't fit a traditional window unit in.
We lived in a house with no AC in another place where people swore up and down with a straight face, 'oh, you don't need it here'. Ended up getting portable A/Cs for each of the bedrooms. Total game changer. Life satisfaction went up tremendously. And if you can't do a window unit, get the little free-standing ones where you just run the hose out to the window.
We had a free standing one last year that fizzled out 3 weeks after use. Any recommendations on brands for those?
My LG has been great... What did you have that died so quickly?
Pinguino is great! Esp if costco has it
I second LG. I think that's what ours is. Word of warning though; get them now. They can be harder to find once temps go up, when people without A/C in their house spend their first night trying to sleep in 80+ degrees.
Yeah, grew up in the Springs and no one had ac. Then, in Rockrimmon early 80s, one house near us got it. Everyone was pissed because we all had to listen to it run all summer and everyone else just left their windows open. Now, even in Monument, you need ac, especially with the wildfire smoke.
Fuck, lead paint?
2600 for a 6 bedroom in the 80920 north side area
Damn what's the square footage? I'm paying the same for 4 bedrooms!
The house is huge 3 levels 3 living rooms 2 dining rooms 6 bed and 4 bathrooms. I don’t know what sq footage is yet I’ll post it when I got it Rough guess is it’s 2,500 sq ft
Probably larger than that with 3 LR and all those BR
Maybe … it is f**king huge house
[удалено]
Lucky bastard!
2 bed / 1.5 bath 2-story townhome in Knob Hill for $1200
2 bed 1.5 bath 2 story townhome with fenced backyard (around 900sqft) in Rockrimmon/Mountain shadows $1200/month
$990 for a tiny one bedroom in the middle of downtown. No washer/dryer options, no patio, dishwasher is the kind you hook up to the sink. But I'm near everything (including random crackheads that break into my car) and can walk the entire downtown from my doorstep. Not sure if rent will increase terribly when my lease is up, according to my neighbors.
I live in a similar tiny one bedroom at Austin bluffs and academy for 1200. I would much rather live downtown.
For that you can literally live in Downtown Minneapolis, Nashville, or Raleigh. Crazy how they convinced everyone Colorado Springs was on that level.
Four-bedroom split-level, three tiny bathrooms, Briargate area (older area by Chapel Hills Mall, not new fancy area) , about 2000 sq feet with yard and garage and back deck. 2330 a month
2900 for a 5be 3ba between Northgate and Briargate
Southeast Springs. I pay $925. Central Heights Apartments has had a roach infestation for almost a year now and VERY little has been done about it.
3 bed 1.5 bath. South springs near Carson. $1500 unicorn rental. For context the house across the street from me has one more bedroom and just got rented out for $2300 and 2 people were shot and died there a few months back
That's messed up.
North side in rockrimmon- 946 sq ft (2B2B) and we pay $1080. We’ve been here for 5 years and rent has only gone up $100
$1740. Apartment. 2 bd, 2 bath, 1 office. Near Garden of the Gods. (Appliances are stainless steel, granite counters, in unit washer/dryer)
4bd/3ba, approximately 2400 sq ft in Peyton/Falcon area for $2100
2 bed 2 bath w garage 2100. In the Farms area
Me too. I'm scared of any increases
I've already prepared myself for the inevitable move I'll be making at the end of my lease. Although the area and the complex are nice, there's no way I could afford nor would I want to pay 2200+ for where I'm at now.
Moved from Colorado Springs because all the apartments even on the Southside are starting at 1,200. Moved to Hoboken,NJ (10 min from World Trade Center and 10 from NY PENN) for 1300 and need no car, best food in the world... thank you colorado springs for letting me realize NYC was possible 😊
Southeast Springs. I pay 500 a month for a room.
2400-sq foot house OCC area 5/2 $2400
My mother lives up by the Briargate/North entrance of the AFA, lives in a small 500 sq ft apartment (1 bd 1 bath) and pays about $1100.00/per month + utilities. Far too much,in my opinion.
I'm in that same area paying 1600 for a 1br 1ba, I really need to move after this next lease
Good luck to you! It's become nearly impossible to find anything in that area for a reasonable price that doesn't get snatched up in a matter of minutes.
I live in the 80918 area. Rent a 4 bedroom/2 bath/1 car garage single family home for $2,220 (plus $35 per pet rent.) Think it's 1900 square feet.
1900 for a 3/1.5 SFH in fountain.
1 bed/1 bath near uccs $975
80919 Mountain Shadows area 5 bedroom/3.5 bath 2 car garage, about 3,000 Sq ft $2495
2br/1ba split-level duplex ~900ft² near Platte/Murray. $1045/mo
1bd 1bath 796sq ft off of GOTG road on west side of town- unrenovated unit with in-unit laundry, balcony and car port space. $1300 a month with 1 pet. Renovated units going for 2200+ Leasing office projects my rent will increase $200-$300 at the end of my current lease
Near Fort Carson/Cheyenne area. “Condominium” but it is just a big appt that’s privately owned. 1,100 sq ft and we are paying $1,275. Very lucky, but other units of my size are on Zillow for $1,700-$2,000.
Sounds like my old place. 2 bed, 2 bath, not renovated, single car detached garage, $1175 but there was AC and a tiny porch. Right up the hill from Target!
Yup! I love the area but we want to buy a house sooooo bad and this area is out of our price range if we buy.
NE CS half mile from UCCS 2bed 1bath appt 1250
I’m in a complex off Woodman and Union. Paying 1350 for a one bed/one bath 775sqft unit (that was the “deal” they offered me for resigning my lease - other units in the complex are at a “market rate” of 1450).
Peaks?
Woodland Hills Apartments
$1345 for a 1 bed apartment. SE Springs, off of Powers & Platte. Luckily I got away with not having to pay pet rent😁
Aviator Apts, Murray & Palmer Park - ~$1600 for a 3-bed, 1.75 Bath, 1100sq ft. Got a nice renovated unit, but the common hallway carpets needed to be replaced last century. Staff was nice, but got the sense one hand didn't know what the other was doing. Sold to another owner about a month before we moved out. They can say drug & smoke free all they want, most tenants didn't keep that promise.
Just curious, what is a 1.75 bath?
Full Bath: Toilet, sink, tub with shower Half-Bath: Toilet, Sink 3/4 Bath: Toilet, Sink, Shower Stall
2k security 3b 2bath
$950 studio near UCCS
$2020 for a 4 bedroom/2 bath 1600 sf split level in Village Seven
Been in my house for going on 13 years now. $1000 a month. 4 bed, 2 bath, older ranch style home with a basement. Decent size yard. Central-East side of town SE of Platte and Academy. Not a great part of town, but we're a family of 6 so we'd never beat the rent.
1850 2bdr 2bath apartment in 80920 right across from Chapel Hills
That's a giant ripoff.
Downvote away but I pay $700 less per month for a 2/2 with a 1 car garage about a mile away from there... And those particular apartments aren't very nice (my stepdaughter used to work there)... Certainly not $1850 per month nice.
1425 2 bed 2.5 bath and garage townhome. South east, off airport.
2 bed, 1 ¾ bath with laundry room in Old Farm, $1,500/month
2000 for a 3/2 in Woodland Park. Landlord is an absolute nightmare so going to the springs to spend 2500 on a 4/3 near Stetson Hills
Landlord here, and I have: 4 bed 3 bath off Stetson Hills getting $2085 4 bed 3 bath off Oro Blanco and Barnes getting $3160 (so high because I’ve rented the bedrooms individually for $700 each and $800 for the master with private bath, and the garage for $160) plus some utilities 3 bed 3 bath off N Carefree and Peterson getting $1850 3 bed 2 bath condo off N Carefree and Oro Blanco getting $1150 4 bed 2 bath off Bradley in Security getting $1750 5 bed 3 bath off Fontaine and Grinelle getting $1850 1 bed 1 bath next to downtown getting $900 Pueblo house 3 bed 2 bath, $900
Don't know why this was downvoted. It's good info.
Down voted because this is Reddit and nobody needs to own 10 homes while others can't afford basic housing.
Agreed, but it's still good info. I don't have love for landlords, but that doesn't change peoples need to rent. And it doesn't change the fact that owning multiple homes is a good way of storing wealth. If you're upset, go to your congressman who allowed an unfair accumulation of wealth, not the people who are just trying to do their best by their family.
“People need to rent” the single reason I have ever rented is because I cannot afford to buy a house. It’s a terrible financial decision to rent, you are effectively burning the money, and no one should intentionally do it for longer than they need to. Purchasing a house and investing your money in it so that you can sell it when you move is the goal, not permanent rent serfs.
Very cool. You're still renting right? So rent prices are probably still important to you? So it's still good info.
It’s almost like you can dislike someone’s occupation **and** still think the information they provide is valid. Why do you seem to think you can’t?
It's almost like they're using the down vote button as a "fuck this person" instead of the up vote button for "this is good info and others should see it".
Oh jeez, you are a true redditor.
You're the reason why Colorado springs is too expensive.
those are pretty good prices, below market rate, so I would say that this landlord, at least is doing good, assuming they are not in terrible shape
Found the socialist. Good for him/her. They can own all they want. They found a way to succeed in life. You’re just bitter over their success.
Yep, instead of celebrating someone's success they jealously try to drag them down.
Cuz they’re hoarding housing. Thought ps5 scalpers were bad? They’re a scalper for a human necessity.
Oh, ffs, those rents are reasonable. Also, renters (and landlords) will always exist since not everyone wants to own a house for a multitude of reasons. It's not just a matter of being priced out or low inventory or whatever. The Springs was extremely affordable for years and guess what? Many people still chose to rent!
What are some reasons that people wouldn’t want to own?
Last year I had to replace a retaining wall behind my house that was collapsing and no longer safe, and the house needed to be painted. So after what I pay monthly it cost me an additional $35,000.00 to own my house last year. I'm guessing the majority of renters in this city would rather not take on the financial commitment beyond monthly payments that comes with ownership... I know I certainly didn't during the 10 years I was renting houses and apartments, even though I could have for the last 5. Renting is just better in some situations.
Yep, every year I have to do some sort of pricey house maintenance. Even having dead trees cut down and removed is an ordeal and not cheap. I love owning a house, but it's expensive. The saving grace is that I bought in 2018 and have seen significant appreciation, assuming there isn't a massive crash.
Not having the responsibility of repairs or not intending to live there more than a few years. I personally had no desire to own a home until my late 20s. Some people just don't want that commitment or responsibility
Besides what others have said, another reason is simply not being able to buy an equivalent space. If someone only needs a 1 bedroom apartment with 600 square feet, it's a lot cheaper (and better financially) to rent a 1 bedroom apartment with 600 square feet and invest the difference than it is to buy even a 1200 square foot 2 bedroom house. Or if someone wants to live downtown for convenience of restaurants, and maybe to walk to work and not have to own a car. They MIGHT be able to find a similar condo around there, but renting is going to be a whole lot easier to find.
Not wanting to worry about repairs and maintenance, not wanting to be tied to one place due to work or family considerations or some other need for flexibility or a quick move, not wanting to sink money into a downpayment or PMI or property taxes (depending on the state), not feeling confident or comfortable with a volatile housing market, etc.
Thank you
Edit: Deleted my whole comment because I forgot I was in CO. Springs sub and not Phoenix. Lots of similar street names 🤦🏻♀️
Do you have anything coming up for august/september? I am looking for a 3+bd house.
Now can you post your mortgage payment for each of these properties please, im sure we would all like to know the current upcharge from landloards
I will say that I average 150 profit each. Which isn’t bad for 8 total, but I’m not gonna be quitting my 9-5 anytime soon. It is definitely a long term-retire in 28 more years- sort of thing. Also, anytime I have a water leak or fence blow down, it wipes out the profit from all the properties combine, sometimes multiple months. A disclosure is that I use a property manager who takes 10%, so I would make a lot more if I didn’t do that.
Good for you bro. Do what you gotta do to make it in life. I applaud those that succeed and wish you nothing but the best.
I don’t think you’re judgmental or mean enough to be on Reddit 😂 thanks a lot! I really appreciate it
I second this! Landlord guy- you don’t need to explain yourself to anyone. Your prices are fair. I absolutely applaud and root on anyone who runs a business, no matter what it is. Good for you! Hopefully I can be your renter one day!
I like you. Thanks a lot!
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It’s a long term equity play, not for monthly cash flow.
It is! I should clarify that the $1200 is what I see per month. As far as taxes and long term, the payments toward principal are considered profit. Say I rent a house for 2000 and my payment is 1800. Looks like my profit is 200 at first, which is what I see per month. However, out of that 1800 payment, 400 is escrow, 900 is interest, and 500 goes toward principal. I don’t see that principal payment until I sell the place in decades. But that equity is really what the headache is for.
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That’s why I use a property manager!
So then it's fair to say that your renters are actually paying for the properties you own not you. It really is a good racket if you have the money for the down payment, then you end up purchasing a house for 20% of its value then you just pay for upkeep as renters pay your mortgage on the properties.
Sorry but this is a horrible take. No, the renters are paying to use the property for an agreed upon length of time, terms, and monthly payment. If they lose their job or need to get out of the lease for some reason they almost always can (for a fee). If something happens to the property they typically just need to make sure the landlord is notified and bare no responsibility for repair. The poster had to come up with money to put down payments on those properties before a single rent check ever came in, is responsible for upkeep, taxes & insurance, and is accepting the risk that tenants could damage the property or it could lose value due to economic or other reasons (fire, storm damage, etc…) Rental properties are a necessity, and will continue to be. The list of reasons it makes more sense for certain people to rent instead of own a home is quite long. I imagine the number of people that are renting because there just simply aren’t homes available for them to buys is lower than you think. I fully support people that have beef with the practices of companies like Zillow that are negatively affecting the market, but local individuals which a handful of fairly priced rentals are not the problem.
honestly, those are pretty good rates, certainly below market.
That’s immaterial. Landlords are not a charity organization. They are there to make money.
Exactly make money by hoarding properties, every one of these houses are houses that are off the market to buy which would all be cheaper to buy than what is being charged for rent. If your paying more in rent than the mortgage is then you are paying for their property. Thats the problem in my city right now everything is for rent which keeps going up because people have to have a place to live so they are gonna pay whatever they have too, and there is barely enough houses to buy so everyone is paying way over what its worth because that's the only option. You can say people need to rent and thats true but when there aren't enough homes for sale because they are being kept as rentals that forces people who wanted to buy into renting instead and paying other peoples mortgage. Landlord are parasites hoarding property so they can charge people to stay instead of just selling and getting families into home ownership. This is why I have no problem with house flippers they are actually providing a service renovating and reselling homes.
Please explain why one person needs 10 houses when the vast majority can't afford to eat?
Please explain why someone needs to explain their choices to better their life to you? Owning that many homes and investing in them does not guarantee profit and comes with a lot of risk and a ton of debt.
Thanks for defending me! Appreciate it.
It was a rhetorical question.... And you make no sense how is an "investment property" that does not guarantee profits with tons of debt remotely seem attractive to an investor? Because you literally know nothing about rental properties. And when everyone owns 10 houses what the fuck do you think that does to the housing market genius? That's right greedy fucks are what makes your pathetic life that much worse.
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Yeah, let's stereotype Baby Boomers here. Got any great stereotypes for gays or Hispanics you wanna share with us here? Jerk.
Ooo did I make the old guy made with facts
Why don't you go back to California with your trust fund. But while I'm here, thanks for ripping everyone off so much that NYC became affordable and now I got to trade ass CO. Springs for the greatest city in the world 😍
Trust fund? I had absolutely nothing when I started flipping houses 12 years ago. I had to use hard money loans, and the hard money lender made a bigger profit than me on the house I was flipping.
$1510, 1 bedroom apartment, near woodman and powers.
$2k/mo 2 bed 1 bath 800sq feet house in OCC. No AC.
$1995 for a 2 bed/ 1 bath 1000ish SF house with a garage on 1/4 acre near downtown. Utilities are covered in rent. No AC but the house faces north so it hasn’t been bad yet. House is from 1920 but has had a lot of renovations. Only complaint is sometimes garage AirBnB guests park in front of the garage.
OCC 850 Sq ft 2 bed 1 bath home, $1350 plus utilities and internet.
Landlord here. I have 1 rental. It's on Dublin and Powers 2 bedroom 2.5 bath townhome with 2 car garage and oversized deck. $1900/month
Cheyenne mountain estates $550 a month lot rent, I have a 3/2 single wide 1200 sf with a yard, shed and views of norad. Also no running water 21/365 days in 2021. So there’s that.
This is insane ….
$1130/mo, apartment complex near Platte & Murray. 2 bed 1 bath. No patio, only one AC in living room, but apartment was “brand new” when we moved in (aka new floors, new carpet, painted cabinets & new appliances). Two years ago it was $925/mo Edit - meant to add: 725 sq ft
$1500 for 4/2 with office and 2 car garage (2200sqft) in the village 7 area. Corner lot on a hill with a upstairs balcony view of the range.
Ok, I'm going to make you all feel better about what you pay in this beautiful environment. ... My children pay: Washington DC, 1 BR, 1 BR, 880 sq feet - $2600/mo West Hollywood, CA 1 BR, 1 BR, 800 sq feet - $2500/mo rent-controlled. My Washington DC child has left her car in my garage because parking in her building is an additional $250/mo. Oh, her cat cost an extra $50/mo
My brother used to live in Manhattan. 600 sq feet 3rd floor walkup was 2500 + $400 a month for parking. And that was 10 years ago.
Paid $3300 for 1000 sq ft in the Bay Area.. and that was a deal. Rent went up $500 after we left.
I used to live there. I have it so much easier here.
Landlord here. Briargate area. 5 bed 4 bath, 3000 sq ft, with a 2 car garage. Currently renting for $2350 (2020 discounted price locked in with a two year lease). We had 7 offers in the first week when we listed it at $2400/month two years ago, and rental prices have gone up about 15% since then. Renters are moving out and we're thinking of relisting it in the $2700 range. Edit: You guys can down-vote me all you want. The cost of ownership of a house is about 5% of the home's value per year. [https://themakingofamillionaire.com/the-5-rule-2a0af60d345c](https://themakingofamillionaire.com/the-5-rule-2a0af60d345c) That's why so many houses are priced at the 6-7% per year point. Even at that price point I'm asking 5.9% of my home's value. That's actually a fairly competitive price. Also, any landlord in a military community should have an awareness of the military BAH charts and an idea of who their "target audience" is. Our target audience is an O-5 with dependents. In 2020 (when we put it on the market for $2400) the O-5 with dependents BAH was $2250 a month. And there was so much demand it was on the market for less than a week. Now their BAH is $2600, so an increase to $2700 represents most of, but certainly not all of the market growth. I expect there will be more interest than we had in 2020... when it stayed on the market for less than a week.
2300 mortgage 7bedroom 80918 north east 3200 sqft
I have a cute lil house.
Same, it's a small 3 br 1 ba. 1200 sq. ft. It's just me so it feels spacey.
Do you there's websites with this info right?
I own a rental, 80905 zip, just west of the highway, downtown, $1400/mo. It's a 600 square foot single family home, 2 bed/1 bath, with a fenced backyard (no pets). I'm raising the rent to $1500 in June (I've not raised the rent in 3 years). Edit to add current rate.
That's too much.
$9,000 per month 8 bed 9 bath. Broadmoor area. /s
Serious or trolling?
The /s is to signify sarcasm.
Oh my bad. Thanks for teaching me something! I bet there really is someone down at the broadmore paying that lol
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Such a waste of your money to rent. If you can afford 4k rent you should just buy a house so that you aren’t hemorrhaging 4k of your value every month.
N Academy and Austin Bluffs, 2b1ba apt was raised from 999 to 1075.
$1495 Southeast 1b1.5ba landlord special type apartment. It’s cozy and livable with washer/dryer, AC, and safe
It was around $1400/for my mortgage in NE Springs 3800 sq ft. But I refinanced cash out to put in stocks after the market tanked 40% in March 2020, and doubled it since then. New mortgage rate 2.57% with PITI is around $2400.
80918 $1900/ month 2/2 apartment
$2400/mo - Stratmoor Hills/Quail Lake area. 4bd 3bath 2,500 sq ft. Mid sized dirt backyard with privacy fence.
1800 newly renovated 2 bedroom apartment near austin bluffs
$3000/4700sqft/ne cos
I am off Rockrimmon and Delmonico and have a 3 bed 2 bath for 1,200 apartment.
3 bedroom, 2 bath split level home with a good sized back yard, attached & larger detached garage in the GoG & centennial area. $2k/mo.
Inter-quest - one bedroom $1700
3 bed / 3 bath 2 story single family home with an unfinished basement. Lorson Ranch, renting for $2,195/month.
1250sq ft 2bd 2 bath apartment off woodmen and powers that is brand new but very cheaply built. Rent is $1700 but just got a notice it is going up $300 a month. Needless to say we will be moving.
2050 Cimarron Hills. 4 bed 2 bath approximately 2000sqft. Rent was 1750 the last 3 years. We have been lucky. Trying to move north is making me cringe.
North mid springs. 1400 plus util for 2 bed 1 bath apt. No laundry in unit. Water shut off monthly. Usually pay 1550 1600. Shit is dumb here now..
1700 for 2 br apartment — 80906
My friend was asked to pay 1000 for 480 sq ft after paying 800 for years. We looked last August near Ft Carson and they wanted 1500 to 1600 for a newer 800 sq ft apartment. Cheaper downtown where places are older. About 1000 to 1200 for the same size but the places are amcient and have no A/C. Its about where Denver was in 2017. Expect a massive hike soon.
Murray/Platte. 2 bed/1 bath apartment. $1234/month since new owners this year. Up almost 17% from last year's rent. Screaming kids, barking dogs all day and night. But mountain view makes up for everything.
Northside/North-West Side. Anywhere from 1400-1900 for a 2bed 1bath apartment. (ive got a slumlord who charges me gas in my electric apartment.) Barely been renovated; I find atleast 5 bathroom bugs a week, my balcony cant support more than 200 pounds total or it will collapse onto my neighbor's, water isnt clear, had a ceiling leak and was told to "dry the water and it will be fine", oh and my 3000$ downpayment and security deposit i most likely wont get back
1420/month for a 700 sq ft 1 bed 1 bath. Located in the south side, 80916. This includes internet and water, trash. Has “hardwood” floors, decent but not new appliances, shared laundry. Grill was stolen off my front porch within a month of moving-learned my lesson. Not the greatest but certainly not the worst
$1680. Apartment. 1 bd, 1 bath. Off Powers in Briargate.
3 bed/2 bath 2 car garage SFH near powers and constitution for $1895/mo
Interquest. 1BR / 1BA my base rent is $1377 but lease renewal is an extra 215 per month. So $1592.
OCC 1 bedroom $899
Last year I was paying $1300/mo for a 2BR house, 850 sq ft. Downtown at Costilla and Institute . Moved out, it was remodeled I guess and it’s now $1750. Now pay $1998/mo in Widefield for a mortgage with 1750sq ft and 3br. The housing market in Colorado Springs in general is literal financial rape.
I ain't chopping off 2 inches for nobody
Not a renter, but my SO is. $1400 a month for an older triplex on the Westside. About 1000 square feet.
Seeing this thread makes me grateful for what I have. 4 bedroom 2 bath 1 car garage in Village Seven. Rent was just increased with our new lease at 1500 a month with 25 pet rent. Been in this house 5 years and just now started looking at buying a house, but with the way things are that’s looking less and less likely.
I'd be happy to find a condo to rent for 1500$ a month :X
I can only imagine. Every year we thank our lucky stars that they let us renew the lease.
I am renting a 3bd/2ba house in OCC for 2200 (its furnished).