The Surprising Growing Rental Market: Baby Boomers

When you think of the most popular rental market, what comes to mind? If you’re like most landlords, you might think of millennials. However, the fastest-growing rental market is at the other end of the age spectrum—baby boomers! As older generations are looking to sell properties and have amenities available in rental communities, they are flocking to rental properties throughout the Denver metro area.

Why Are Baby Boomers Renting?

Baby boomers are looking for a more hands-off way of life in retirement. Instead of staying in the homes that they have occupied for decades, many are interested in communities with like-minded people, living in cities where traditional houses are not available and not being on the hook for maintenance and landscaping. Between 2009-2015, the number of renters aged 55+ rose 28%, while those renting under the age of 34 increased only 3%.

This age demographic is looking to relax in retirement, not spend the entire time worrying about replacing a roof, mowing the lawn or tying themselves down. Many seniors are looking for the flexibility that comes with renting, along with the ability to meet plenty of new people in their new home. Maintenance-free living is almost impossible in a traditional residence, but it is possible in a rental property.

What Do Baby Boomers Want in a Rental Property?

  1. Convenience: Locations near grocery stores, senior centers, gyms, museums, medical facilities and hospitals, restaurants and public transportation are all considered appealing to baby boomers.
  2. Safety: Instead of retrofitting their homes, some seniors are particularly attracted to apartments and condos that are single-level, which lessens the risk of falling down the steps.
  3. Responsive Maintenance: The great news is that baby boomers are some of the best tenants on the rental market! The more challenging news is that with that excellent behavior and prompt rent payment comes high expectations for maintenance. Make sure that your property management company is up to the task of offering excellent service, like All County Denver Metro Property Management.

Appeal to the Baby Boomer Rental Market with All County Denver Metro Property Management

All County Denver Metro Property Management offers all property owners competent and honest property management services. From rental market evaluation to tenant placement, we can assist with all of your needs. Our team of real estate professionals looks forward to hearing from you about how we can make your investment a stress-free asset and keep your tenants happy. Call us at (720) 575-6100 for a free quote.

6 Seasonal Maintenance Tips for Spring

Spring is here in Denver, which means that now is the perfect time to take a weekend and invest a little TLC into your rental property. Whether you work with your tenants to complete these tasks or do them yourself, here are some of our best seasonal maintenance tips to keep your Denver area rental property in awesome shape. 

6 Seasonal Maintenance Tips

  1. Prune any non-flowering trees on the property. When trees are dehydrated, they can become brittle and more likely to snap. Regular pruning helps to stop trees from breaking under the weight of late-spring snow and ensures that they are in excellent health for the coming seasons.
  2. Add mulch to your landscape. Mulch is an excellent way to lock in moisture around plants, shrubs and trees in the yard. Mulch also helps to add major curb appeal to a property. Make sure that you don’t apply mulch too close to the foundation of the property and that you don’t use too much. The best mulch is organic compost if you have access to it. If you don’t, look for an organic mulch that does not compact quickly.
  3. Is there old fruit sitting on the fruit trees? Are there still some leaves sitting in the gutters? Now is the perfect time to get rid of any old fruit and rake up leaves that were left behind. Spring is also a good time to clear out any debris or old leaves from the gutters to ensure optimal drainage.
  4. Look for browning on your deciduous and evergreen trees. If there are dead buds, take the time to prune them away.
  5. Do you want to add a little pizazz to the landscape to celebrate the arrival of spring? May is ideal for adding seasonal pops of color to the landscape through seasonal plantings and shrubs. 
  6. Get ready for lawn-trimming season! Make sure that your lawnmower is in good condition and check your irrigation system to ensure it’s in working order. Aerate the lawn to ensure that all of the grass gets enough sunlight, nutrition and oxygen. Always set your lawnmower to cut at 2 ½ to 3 inches early in the spring.

Property Management for Denver Metro Area Landlords and Seasonal Maintenance TIps

All County Denver Metro Property Management offers all property owners competent and honest property management services. From rental market evaluation to tenant placement, we can assist with all of your needs. Our team of real estate professionals looks forward to hearing from you about how we can make your investment a stress-free asset and keep your tenants happy. Call us at (720) 575-6100 for a free quote.