Data compiled by Heather Connor
Can I cash flow a rental property in Crested Butte?
Ultimately, the answer is no. Crested Butte is best for what I call Lifestyle Investments. This is when someone purchases a property that they will utilize for personal enjoyment and then rent the property out during vacant times to help off-set expenses.
What I will share today are 4 tips to maximize the income you will make:
1. Rental Staging
4. Type of Rental Structure
This includes finishes and furnishings. The more on-trend and update your property is, the larger the audience that will want to rent. Just like real estate, the more interest, the better your rental will perform overall.
Make sure to choose what consumers are looking for. Currently, Alpine Modern styles are doing really well.
I would say duh but seriously, take time to either take and edit great images or hire a professional. It’s worth it when you look at your end-of-year gross rental numbers. It will easily give you 20x return.
If your HOA allows it then strongly consider this. If you have a large home, there may be a section that you can offer as a pet-friendly area to minimize the pet hair or potential damage. Many rental sites offer insurance protection that does cover pet damage as long as you can prove you authorize the pet ahead of time.
If you have more questions, send me a text. 619.333.7412.