Welcome to the 2014 Fall Preleasing Season in Boulder!
We have put together this guideline for University of Colorado Boulder Students, Parents, Faculty, and those looking to secure a place to rent off campus in Boulder for the 2014 academic season.
When does 2014 Fall Preleasing in Boulder start?
One of the questions we get all the time from Boulder student renters and their parents is “when should we start looking for a place for next fall?”. The answer might surprise you. If you guessed “right now!” you’d be correct.
Preleasing in Boulder starts earlier and earlier every year. We’re already seeing properties listed for the fall of 2014 and we haven’t even hit November of 2013 yet. And we’re already getting tons of inquiries from groups of students looking to rent for the fall of 2014. There is no doubt that next year’s housing rush will be just as fierce and competitive as last years.
( For those of us in the property rental business, property managers and property management companies in Boulder, the unfortunate reality of things is that we really don’t get a break from the leasing season anymore. Uuugh! )
What will rental rates be for student properties in Fall 2014?
This is a great question AND a tough one to answer. Reason being that most student rental homes being offered for 2014 fall preleasing are privately owned, which means the rental rates will vary from property to property. However, we have seen rent increases over the last year for Boulder student properties reach as much as 15% over the last years rents.
With historically low vacancy rates in Boulder you should be prepared to pay even more in 2014. We’ve seen rents per-bedroom rise to as much as $1500 per room in some cases, with the averages probably around $1000 per room. Yikes!
What do Landlords and Property Owners require to accept student renters?
This varies depending on the Landlord and the property. There is no law or rule in Boulder for requirements to rent to students. This leaves it up to the individual property owner or Landlord to decide what they want from student renter (and their parents) to feel comfortable renting to them.
Some of the more common procedures we see are:
- Parental guarantees- this is an addendum to the lease document whereby the parents of the student renters will actually sign a guarantee of the lease agreement.
- Security deposits equal to one months rental rate.
- First and last month’s rental payments made in advance.
- Credit checks, and positive rental history verifications.
- Eviction checks.
Note to CU Students and Parents , stay safe and beware of scammers, misinformation, and “ghost” postings.
A final word about your students safety is important to mention here. As many student renters are going out on their own for the first time they need to be aware of the dangers that lurk in the rental “market”. Popular rental search sites like Craigslist, Zillow, and others have become hot beds for scammers, fake listings, and ghost postings. What are “ghost” postings you ask?
Ghost postings is a type of scam whereby the scammer copies information from a real posting and then reposts it under his or her own account and contact information. So for example you will see real photos of a house in Boulder for rent with real details, even the correct address. But the contact information will be for the scammer- NOT the real Landlord. You see the house on Craig’s List or Zillow, you think it looks great, so you send the “Scamlord” a check. Only when you show up to move in the real Landlord has no idea who you are. You’ve just been scammed by a ghost posting.
How to avoid this? Do your homework, meet with your new Landlord at the property, or at the property managers office. Find your place through a local and reputable company in Boulder such as….ehem… Housing Helpers! Our Boulder office has been here for over 27 years, just a block from the University, and we are staffed with friendly local rental specialists- not Scamlords! Give us a call or stop by- our service is FREE for renters, and we make fall preleasing in Boulder easy for students and their parents.