Although rental properties may seem similar, they are not “one size fits all.” This means the best property for you will depend on many factors. Some of the biggest elements in making a decision will be property size, location, and price.
Let’s start with size. When renting out any property, you can either rent out the entire place or on a “per bedroom” basis. Typically, a property that is between 2–5 bedrooms will produce better cashflow when rented out individually rather than as an entire place. This allows for a higher occupation rate and a better return on investment.
Speaking of returns, some of the best places to rent in Colorado are ski resorts. Because of the tourism rates, you may find the best returns in Vail, Beaver Creek, Steamboat, and more.
Price can be intimidating and it is the make-it-or-break-it factor here. At Away Agents we do financial research for our clients and can help you with this! We’ll help you understand how amenities like a hot tub or a nearby golf course can add value and show you whether or not a property is worth it as an investment based on the average daily rate for your location and property size.