3 Amenities Renters Love

Amenities make renting a home comfortable and enjoyable.

Any property can offer the basics, but it’s the extra details that make all the difference. Most tenants plan on touring several properties before making a decision. Therefore, rental units with unique features will be the properties that make the strongest impression. Once as potential renters find a property that meets their needs, they’ll look for above-and-beyond features to make a final decision. Providing one-of-a-kind amenities is a key way to attract serious tenants with an eye for quality.

1.     In-Unit Laundry Appliances

Renters love any amenities that make their lives a little easier. After a long week, spending an afternoon at the laundromat is the last thing anybody wants to do. It’s time-consuming, and people want to spend their days off doing what they love. In-unit washers and dryers let tenants finish their chores while going about their day. Including these in your property will definitely earn you some brownie points. With that being said, on-site laundry facilities are still preferable when compared to laundromats. If you can’t provide in-unit laundry appliances, this is the next best option.

2.     Outdoor Features

Tenants don’t want to be forced to travel far to enjoy the outdoors. More than anything, they love amenities that give them the freedom to roam. During the summer months, people don’t want to be cooped up in their apartments blasting the AC, they want to be by the pool where they can cool off and spend time with loved ones. They want to be able to get some fresh air and enjoy outdoor activities. It’s a fact: amenities like pools, hot tubs, ponds, and tennis courts are always a hit. If you allow pets in your facility, renters will also love parks and outdoor, dog-friendly spaces.

3.     Upgraded Kitchens

Standard kitchens always tend to look similar. They often include small, outdated refrigerators, ‘80s-style countertops, and humming appliances. In order to stand out from the crowd, you’ll want to focus on this area. Renters know a property is well-maintained if the kitchen has been upgraded. To wow potential tenants, consider installing stainless steel appliances, high-quality cabinets and granite or marble countertops. If financial restraints bar you from making these changes, think about smaller upgrades that are at least up-to-date. The best thing you can do is provide functioning equipment and a pleasing atmosphere for your renters. We spend a lot of time in our kitchens. Whether we’re cooking up meals with our family members or having late-night conversations over coffee, kitchens are comforting places. They should feel welcoming and pleasant.

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The housing market is still savagely unhealthy

But there is a glimmer of hope as we look at the rest of the year.

The National Association of Realtors reported that existing home sales for March came in as a miss of estimate at 5.77 million. However, the real story of 2022 is that the savagely unhealthy housing market continues as inventory is still lower than last year, sending home prices growth into double digits again. However, hope for a balanced market is real this year because, with higher rates, we should see more days on the market coming up and growth in the inventory data.

The 5.77 million sales print on Wednesday is in line with my 2022 forecast sales range between 5.74 million and 6.16 million. Last year I discussed sales levels coming back down to 5.84 million, and I am looking for more of the same in 2022, at the 5.74 million level. Like last year, I was anticipating a few prints under 5.84 million. We only got one, and the same with this year under 5.74 million

However, unlike the previous year, we have a material change in the U.S. housing market; the 10-year is above 1.94%, something that didn’t happen in 2020 or 2021. This means higher mortgage rates, so we need to talk about the housing market in a rising-rate environment without going into housing crash mode like the professional grifters do for clicks.

From NAR: Total existing-home sales dipped 2.7% from February to a seasonally adjusted annual rate of 5.77 million in March.

Housing demand has been stable for the past few years; we have never had a credit boom in demand since 2002-2005. So, we never had a credit bust as we saw from 2005 to 2008. However, post-2010, we have had times when housing demand has gotten softer with higher mortgage rates.

In 2013-2014, rates rose, and you see the lower trend in sales back then. Demographics and employment levels were much different at that time, so it isn’t the best comp to use compared to 2020-2024, which has the most significant housing demographic (ages 28-34) running at 32.5 million.

In 2018 when mortgage rates rose, we saw existing home sales trend lower from 5.72 million to 4.98 million in January 2019. Even though total existing-home sales didn’t do much in 2018 and 2019, we see how higher rates impacted the demand curve. The housing data we got yesterday with housing starts are backward-looking. The same should be thought about today and going out in the future.

How does application data look? Due to COVID-19, I needed to make severe adjustments because the year-over-year data has been out of whack. This data line has been negative since June of 2021. With proper adjustments, you can tell what is going on.

2022 is looking to be the first actual negative year-over-year purchase application year since 2014. However, the decline is mild so far.
—Week to week: -3%
—Year over year: -14%
—4 week moving average YoY: -9.75%

The week-to-week action has produced two mild positive and two mild negative prints for four weeks. I believe the COVID-19 comps ran out by mid-February this year. So the year-over-year data is good to go. We are between what we saw in 2018 — with a mild response to higher rates — and 2014, where the reaction was much more severe. When it moves, this data line moves up and down 20%-30%. So the four-week moving average, while a noticeable weakness, isn’t anything too big yet. 

Keep reading on Housing Wire.

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Is it time to turn my sprinklers back on?

 
 

Colorado has been socked by dry, spring weather, but is it time to run the sprinklers?

Hot, dry and windy weather has settled over Colorado in April.

The month of April is the windiest month of the year along Colorado's Front Range, but this year has been a little more extreme than usual. Wednesday will be the 16th consecutive day with a Red Flag Warning in Colorado.

As the grass begins to turn green across the state, many are wondering when is the best time to turn on a sprinkler system.

Denver Water recommends waiting until after the last freeze, typically around May 5, to turn on your sprinkler system, however other Front Range garden experts say now is the right time to turn sprinklers on.

According to Denver Water, Colorado will likely have at least one more night of temperatures below 30 degrees which can damage pipes above or below ground leading to costly repairs and wasted water.

However, other experts said that Colorado is unlikely to see a cold-enough freeze that would damage ground pipes that are under six inches of dirt. These experts believe that for sprinkler systems that are turned on, only the above-ground back flow preventer box needs to be covered on a night with below-freezing temperatures.

All agree that when the grass begins to turn green, it is time for watering.

Denver Water recommends those who choose to wait to turn on their system bring out the garden hose and hand-water grass, trees and perennials now.

Whenever you decide to turn on the sprinkler system this spring, here's how to get started:

Step 1: Irrigation Box

The first step is to locate your irrigation box. It's usually out in the front of your house.

Open it up and look for the drain valve. Turn it off by turning the valve to the right. Cover box back up.

Step 2: Back flow preventer

Now, go to your back flow preventer to keep your water from your sprinkler system from going back into the drinking water inside your house.

Look for your ports. It's the area where the sprinkler company blows out excess water in the fall.

You will need a flat blade screwdriver. Turn a quarter of a turn so they are against the pipe, which means they are closed. Make sure they are not parallel to the pipe.

Now open your ball valves. Turn the handles to the left so they are parallel to the pipe.

Step 3: Style ball valve

Locate your style ball valve. It is usually in your basement.

Tighten your port before you turn your water back on or you will have water gushing into your basement.

Open your water valve by turning it right so it is parallel to the pipe.

Step 4: Sprinkler system controller

This is usually located in your garage.

Each system is different so find directions or go online to find an owners manual to set your sprinkler system. 

If you don't feel comfortable turning it back on yourself, be sure to contact a professional.

For more like this, visit 9news.

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Just Listed: Studio Unit in Amazing Winter Park Location

 
 
 

Beautiful ski in/ski out studio on the 4th floor of Iron Horse Resort.

This well maintained unit is close to the ski corridor and sleeps 4 guests comfortably. Very well laid out space features a queen size Murphy bed and a trundle that can be used as a sofa, 2 twin beds or pull out into a king bed. Gas fireplace, full well stocked kitchen and full bath. This space has a high top dining table and private balcony. Enjoy everything winter park has to offer in this amazing location, just steps to the resort and one of the few true ski in/ski out locations. Community pool, hot tub, gym, game room, ski lockers, private storage locker and underground parking included (1 parking pass). Lift stop right outside your door to venture into town. Excellent rental potential!

Listed by Rachel Cardwell for West + Main Homes. Please contact Rachel for current pricing + availability.

 
 
 

Have questions?
West + Main Homes
(720) 903-2912
hello@westandmainhomes.com

Presented by:
Rachel Cardwell
(623) 451-5823
rachelcardwell@westandmainhomes.com


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Meet the Maker: Shelby Jonse of Wander and Graze

 
 

Meet Shelby + Wander and Graze

We create vibrant and inviting charcuterie boards and grazing tables for delivery in and around Denver, Colorado.

Our grazing tables and boards are a unique event catering options. They’re perfect for networking events, conferences, happy hours, showers, weddings, and more. Charcuterie boards can be vegetarian, vegan, and gluten-free friendly.

 
 

Learn more about Shelby below!

How did you arrive where you are today?

I have always enjoyed cooking and creating. I love that W+G gives me the ability to do both of those things at once. And I am able to create opportunities for communities to connect over beautiful food.

 
 

How did your business come to exist?

In 2018 I decided to go back to school full time. I had been a retail store manager for over 10 years at the same company, and I was ready for a change. I started Wander and Graze as a fun and creative "side hustle" that quickly grew into a full-time job. And I love it!

What was the best day at work you've had in the past three months?

I would have to say opening up our storefront in the West Highlands Neighborhood in Denver. We opened at the beginning of February, and it has been a game-changer for our team to be working out of our own space. We are also very excited to be offering regular charcuterie workshops in our shop.

 
 

What do you like to do outside of work?

I am a small business owner and a foster mom, so I don't have much free time, but when I am not working or chasing a toddler around, I enjoy gardening, pottery, and grabbing a happy hour cocktail with friends.

 
 

Get in touch with Shelby

Instagram: @wanderandgraze

Facebook: Wander and Graze

Website: www.wanderandgraze.com

If you are a local artist/crafter/maker/indie business owner and would like to be featured on our blog, please fill out this form or contact Ashley at ashley@westandmainhomes.com with questions...we can't wait to learn all about you!