Many homeowners consider renting their property when they move, upgrade homes, or relocate for work. Whether renting or selling makes more sense usually depends on a few key factors.

The first is the potential rental income compared to the cost of holding the property. Mortgage payments, taxes, insurance, utilities, maintenance, and management fees should all be considered when evaluating whether the property will produce positive cash flow.

Another important factor is long-term appreciation. Many homeowners choose to rent out their property because they want to hold the asset long-term, while tenants help pay down the mortgage. Over time, appreciation and loan paydown can significantly increase the owner’s equity in the property.

However, becoming a landlord does come with responsibilities. Rental properties require maintenance, resident management, and compliance with Colorado landlord laws. This is one reason many owners choose to work with a professional property management company.

For many homeowners, renting can be a strong long-term investment when the numbers make sense, and the property is properly managed.

This is one of the most common questions hopeful landlords ask, and the answer often determines whether turning a home into a rental makes financial sense.

At Pioneer, we use a detailed process to determine the right listing price. It begins with seeing the home in person so we can fully understand its layout, condition, and features. From there, we analyze comparable rentals in the area and review key data points such as how long similar homes have been on the market, how much activity they received, and what nearby properties have recently leased for.

One important thing to understand is that “top market” rent is not always the best strategy. Pursuing the highest possible rent can increase vacancy, reduce the pool of qualified applicants, and ultimately lower the owner’s overall return.

Our goal is to find the optimal rent, which is a price point that supports strong demand, shorter vacancy periods, and long-term resident stability. Homes priced at the very top of the market often attract fewer qualified applicants and may spend more time on the market. This can also make future lease renewals more difficult.

When a property is priced appropriately within the market, it typically rents faster and attracts residents who feel they are receiving fair value. This often leads to higher resident satisfaction and a greater likelihood of lease renewals.

It is important to strike the right balance when pricing a rental. Our goal is to maximize the owner’s return while minimizing time on the market. An extended vacancy can quickly reduce overall returns. For example, 60 days of vacancy and two mortgage payments can easily outweigh the benefit of trying to raise the rent slightly.

While tools like the Zillow Zestimate can provide a general reference point, they should not be relied on as the sole indicator of rental pricing. Automated estimates often lag behind real-time market changes and may miss important details that impact rent, such as condition, upgrades, layout, and current market demand.

You can read more about the limitations of the Zestimate in this article

Between 2021 and 2026, Pioneer has averaged about 45 days from the day a property is listed to the day a lease officially begins. In most cases, we see two to three weeks of showings before an application is approved, followed by another two to three weeks before the resident moves in. That short gap between lease signing and move-in is usually a good sign, as it indicates the resident is planning ahead rather than needing immediate housing.

A major factor that affects timing is the starting rental price. If several comparable homes are available in the same neighborhood and a property is priced at or above the prices of those listings, it will typically take longer to rent. On the other hand, pricing the home slightly below competing listings or listing a property in an area with limited availability and strong demand can significantly shorten the timeline.

In some cases, we have had residents move into a home within two weeks of listing because the pricing strategy created strong interest right away.

Our services include pricing the property for the market, marketing the home across multiple rental platforms, coordinating showings, screening residents, and preparing lease agreements. Once a resident moves in, we handle rent collection, maintenance coordination, resident relations, and compliance with Colorado landlord laws.

Owners also receive regular financial reporting, including annual tax documentation for the property, and support with long-term decisions regarding the property. In short, a property manager acts as the owner’s representative and oversees the entire rental process from listing the home to managing the day-to-day operations during the lease.

Property management pricing varies by company and services provided, but most companies in the Denver area charge a percentage of the monthly rent plus a leasing fee when a new resident is placed.

At Pioneer, our pricing is designed to align our incentives with the property owner. If the property is vacant, we do not earn a management fee. Our focus is on leasing the home quickly to a qualified resident and maintaining a long-term tenancy.

Owners should be cautious of companies that advertise unusually low fees. Property management is a service-based business, and extremely low pricing can sometimes mean corners are being cut on important items such as resident screening, maintenance oversight, or legal compliance.

When evaluating property management companies, it is often more valuable to focus on experience, processes, and track record rather than simply choosing the lowest fee.

You can see our full fee structure HERE

Some property owners choose to manage their homes themselves, especially if they live close to the property and have the time to handle the responsibilities. Self-managing can work well for owners who are comfortable handling resident communication, coordinating maintenance, and staying current with Colorado landlord laws.

However, many owners eventually decide to work with a property manager because of the time commitment and complexity involved in managing a rental property. Tasks such as screening residents, handling maintenance requests, responding to emergencies, and navigating legal requirements can become time-consuming.

A professional property manager also brings experience with pricing, marketing, vendor relationships, and compliance. For many owners, the value comes from reducing stress, protecting the property, and allowing the investment to operate more passively.

The right choice ultimately depends on how involved an owner wants to be in the day-to-day management of the property.

Check out our blog on this topic HERE

At Pioneer, we believe that keeping long-term residents at a fair market rent is usually more beneficial than maximizing rent at every opportunity. While it may seem appealing to push rent as high as possible each year, doing so can sometimes price out good residents who would otherwise have stayed long-term.

Turnover can be expensive. Between vacancy periods, cleaning, maintenance, and leasing costs, losing a strong resident can easily cost thousands of dollars. In many cases, those costs outweigh the benefit of trying to gain an extra hundred dollars per month in rent.

Colorado law also limits rent increases to once every 365 days, so timing and pricing both matter. When considering a rent increase, we recommend looking at the broader market and asking a simple question. If the current residents moved out, would the home realistically rent for this new price on the open market?

If the answer is no, the risk of vacancy and turnover often outweighs the potential gain. Our general strategy is to keep rents within the middle of the market range while retaining good residents for as long as possible. Over time, this approach typically produces stronger and more consistent returns for the property owner.

Yes. Property owners can change property management companies if they are not satisfied with their current service. Most management agreements include a termination clause that outlines the transition process.

If an owner decides to make a change, the new property manager typically helps guide the process. This may include coordinating the transfer of documents, lease agreements, resident information, and financial records from the previous company. Experienced property managers can often handle much of this process on the owner’s behalf, making the transition easier.

The goal during a transition is to make the change as seamless as possible for both the owner and the resident living in the home. In most cases, residents are able to continue their lease without disruption while the new property manager takes over the day-to-day management of the property.

Timing is also important. Pioneer wants to ensure there is as little confusion as possible for current residents. We typically find that the best time to make the transition is at least two weeks before the next rent collection period.

Before making a change, it is always a good idea to review the current management agreement to understand the notice requirements and any transition procedures.

A rental license is not required to rent out a property in most municipalities across Colorado. However, some cities and counties have implemented licensing programs for rental properties.

Currently, rental licenses are required for properties located in Denver, Edgewater, or Boulder. These cities require landlords to complete an application process and meet certain requirements before renting the property.

Because local regulations can change, it is important for landlords to confirm the requirements for the specific city where their property is located.

For more details on rental license requirements, check out this article.

For owners, the first step is to contact your current insurance provider and request a quote to convert your homeowner’s policy to a landlord policy. The cost is often similar, but a landlord policy provides the proper coverage for a property that is being rented rather than owner-occupied.

Pioneer has minimum insurance requirements for landlord policies, though they are similar to what most mortgage lenders already require if the property has a loan in place.

Owners may also choose to reduce their personal property coverage since items such as TVs, computers, and jewelry will no longer be located at the home. However, we do not recommend removing this coverage entirely. In the event of a total loss, items such as appliances are typically replaced through this portion of the policy. We also recommend adding a vacancy rider so the property remains covered during periods when it is not occupied.

For residents, Pioneer takes a slightly different approach. We automatically enroll residents in a liability-to-landlord insurance policy for a small monthly fee. Residents can opt out of this program if they provide proof of their own renter’s insurance that meets Pioneer’s minimum coverage requirements.

Some of the most important steps include removing all personal belongings from the home, completing any necessary repairs, ensuring all appliances and mechanical systems are working properly, and professionally cleaning the property. Safety items such as smoke detectors, carbon monoxide detectors, and fire extinguishers should also be installed or updated.

Owners should also make sure doors and windows function properly, locks are secure, blinds are installed on privacy windows, and that the exterior of the property is clean and well-maintained. Taking care of these items during the vacancy period helps prevent issues once a resident moves in.

At Pioneer, we have developed a detailed Make Ready Guide that walks through the full checklist of preparing a property for the rental market. This guide covers everything from safety requirements and appliance expectations to cleaning standards and exterior preparation.

Pioneer requires that rental homes include a full set of basic appliances for residents. This includes a refrigerator, range, and washer and dryer. If the home does not have hookups for a dishwasher or a mounted microwave, those items are not required. However, they can be a nice upgrade that residents appreciate.

If a microwave is provided, we recommend a mounted unit rather than a countertop model. Countertop microwaves are typically considered something residents provide themselves if they want one. If the owner provides a countertop microwave, they are usually responsible for replacing it if it fails.

The only situation where a washer and dryer would not be required is if the home does not have the proper hookups installed.

In the early 2000s and before, it was common for residents to provide their own refrigerator or laundry equipment. Today, expectations have changed, and most residents expect these appliances to already be included. Providing them helps keep the home competitive in the rental market. In our experience, the best qualified residents are looking to exchange their strong credentials for a well-equipped and well-maintained place to live.

Appliances do not need to be brand new. Used or scratch-and-dent units are perfectly acceptable as long as they are fully functional and in good condition. Pioneer typically recommends brands such as GE or Whirlpool rather than Samsung or LG. Parts for these brands are easier to find, repairs are generally less expensive, and they tend to have a longer service life in rental properties.

Smart devices frequently rely on internet access, require account management between residents, and can create privacy concerns during showings. They can also increase replacement and repair costs if the devices fail. Because of these factors, our general recommendation is to keep rental properties simple and avoid most smart home technology.

Smart thermostats are the one exception. Devices such as Google Nest or Ecobee can be a good upgrade for a rental property. They allow residents to easily control the temperature and can still function even if the home lacks internet service during vacancy periods.

Smart cameras and doorbells, including Ring or Nest products, can create challenges during showings and account transfers between residents. Prospective residents may feel uncomfortable if they believe they are being monitored, and these devices often require resetting or changing accounts between tenancies. For that reason, our standard practice is to remove them.

Smart locks are also not recommended for most rental properties. Many smart locks rely on internet access or app-based accounts that must be transferred between residents. If accounts are not properly reset, it can create security concerns or access issues. Traditional keyed locks are generally more reliable, easier to manage between residents, and simpler to replace if needed. They can also create a gray area of financial responsibility in the case of a lockout if there is no option for a key on the deadbolt.

Smart sprinkler systems are also not ideal for rental properties. Unlike smart thermostats, they require internet access to operate. During vacancy periods, most rental homes lack internet service, so the system will not function.

Smart appliances may sound appealing, but they can rely on internet connectivity and typically cost more to repair than standard appliances. In most rental homes, traditional appliances are more practical and cost-effective.

Other smart features, such as built-in speakers or smart lighting, generally do not add meaningful value for residents. If someone wants those features, they can easily install their own devices. As the owner, providing them rarely increases rent but can create additional costs and maintenance headaches over time.

Another concern is access to important home systems. Many storage areas contain equipment such as the HVAC system, water heater, sump pump, electrical panel, or the main water shutoff. If these areas are locked, residents may not be able to replace furnace filters or shut off the water during an emergency. It can also create problems for maintenance vendors who may need access for routine service or urgent repairs.

There are also practical limitations for owners. Once the property is occupied, owners cannot freely access the home to retrieve stored items. Entry requires proper notice and must follow Colorado landlord laws, which makes the home a poor option for personal storage.

Finally, it is helpful to consider what the long term plan is for the items being stored. If the intention is to eventually sell or dispose of them, it is usually better to handle that before the property is rented. Rental homes function best when they are fully available to the resident and are not used as a long-term storage space for the owner.

Pioneer only operates with unfurnished rentals. For more information on why we avoid furnished rentals, check out our article here.

Resident screening is one of the most important factors landlords should consider when choosing a property manager. At Pioneer, we take the screening process very seriously.

One important part of our process is that we only show vacant, rent-ready properties. Before anyone can apply, they must first see the home in person. We rent all properties in their current condition, ensuring prospective residents understand exactly what they are applying for.

We also market every property widely to attract the largest pool of qualified applicants. Instead of relying on just one platform, we list homes on about 30 rental websites to maximize exposure and bring as many interested, qualified prospects through the door as possible.

Before someone can even schedule a showing, they must complete a prescreening questionnaire. In this form, prospects self-report key qualifications to confirm they meet our basic requirements. We only process one application group at a time, so if multiple people request a showing at the same time, we review those prescreening responses to determine who appears to be the best fit for the property. All of this is done within the guidelines of Fair Housing laws.

If you would like to see the full details, you can review our Resident Screening Criteria HERE.

While no screening process can eliminate every possible risk, we believe our process is both thorough and effective. In fact, Pioneer has never had to complete an eviction for a resident that we placed in a home.

Whether pets are allowed in a rental property is up to the property owner. With Pioneer, owners can choose from several options, including allowing pets, not allowing pets, allowing cats only, or allowing dogs only. If you would like to set additional criteria, such as allowing only one dog under 50 pounds, we can accommodate that as well.

It is important to note that service animals and Emotional Support Animals are not considered pets under Colorado rental laws. As a result, standard pet restrictions do not apply to these animals.

In our experience managing rental properties in Colorado, more than 70% of residents have some type of pet. Colorado is a very pet-friendly state, and properties that do not allow pets often see less interest and fewer applications. This can translate into lower rent and longer vacancy periods.

If an owner chooses to allow pets, Pioneer charges a one-time pet fee at the start of the lease, as well as a monthly pet fee of $ 35 per pet. Pioneer retains these fees, but in exchange, we provide additional pet damage coverage.

If pet-related damage exceeds the security deposit, Pioneer will cover up to $1000 in additional damage, which is more than three times the maximum pet deposit allowed under Colorado law, which is currently $300.

You can learn more about pets in our blog HERE.

Water is the primary reason for this policy. If a water bill goes unpaid, the lien can be placed on the property itself rather than the account holder. Even if a lease requires the resident to pay the bill, the homeowner ultimately becomes responsible if it goes unpaid.
Sewer and stormwater charges vary by municipality and are sometimes billed quarterly or annually. For simplicity and consistency, we also require that owners keep these utilities in their name.

Water, sewer, stormwater, and trash are listed as included utilities when the property is marketed. We do not bill these back to residents each month. Since the owner pays these directly and is not reimbursed, they are typically tax-deductible expenses when reviewing your year-end financials.

Gas and electric are handled differently. Residents are responsible for setting up these accounts in their own name when they move in. If they fail to pay those bills, the balance goes to collections rather than becoming the owner’s responsibility.

We do require owners to establish a landlord account with their gas and electric providers. This keeps the owner’s information on file so that when a resident moves out, the service automatically transfers back to the owner’s account. This prevents utilities from being shut off during vacancy periods, which helps ensure that cleaning, maintenance, and showings can continue without interruption.

One important exception to note is for rental properties located in Longmont, Colorado. In Longmont, all utilities are required to be in the resident’s name. This is because the city operates its own utility services, and power and water are billed together through a single provider.

If damage is determined to be caused by the resident, they are responsible for the cost. Common examples include clogged garbage disposals, clogged toilets, or other issues caused by misuse.

When a maintenance request is submitted, Pioneer’s first step is to troubleshoot the issue. If we can resolve the problem through a phone call, photos, or simple guidance for the resident, there is no cost for that service. It is part of the support we provide as your property manager.

If the issue requires in-person service, we operate with a $500 maintenance limit. This means that if the repair is under $500, such as a running toilet or a leaking faucet, we will proceed with the repair in the most efficient and cost-effective way without requiring prior owner approval. This allows us to resolve smaller issues quickly. Full details of the repair will be included in your monthly statement.

For repairs exceeding the $500 threshold, we will contact the property owner before proceeding. You will receive an email with the scope of the issue, photos when available, and any no-cost estimates we have obtained. From there, you and your Property Manager can review the options and determine the best path forward together.

Sprinkler systems are handled differently. Pioneer requires that sprinkler systems be professionally activated and winterized each year through our vendors to ensure they are set correctly and comply with local municipal watering guidelines. Residents are expected to monitor the yard and notify us if they notice areas receiving too much or too little water, so we can have a vendor make the necessary adjustments.

It is also important to note that it is not a reasonable expectation for residents to hand water a yard if the home does not have an irrigation system installed.

While residents are responsible for general upkeep, they may not maintain the yard to the same standard as a homeowner would. For owners who want more consistency or peace of mind that the yard is being maintained to a higher standard, we often recommend hiring a professional landscaping service. In those cases, the cost would typically be paid by the owner, but it helps ensure the property continues to look its best and protects the long term health of the landscaping.

Furnace maintenance is one of the most important. We recommend servicing the furnace at least every other year; if it is located in a crawlspace, we require annual service. Regular service helps extend the system’s lifespan, keeps it running efficiently, and reduces the risk of unexpected breakdowns during the colder months. HVAC always tends to fail at the worst times.

Gutter cleaning should be completed annually, typically after the leaves have fallen. Keeping gutters clear helps prevent water from backing up and causing damage to the roof, siding, or foundation. We have vendors available to complete this service when conditions are safe for roof access.

For homes with tankless water heaters, we recommend annual servicing to flush and clean the system. This helps maintain efficiency and can significantly extend the unit’s lifespan.

If the property has a sprinkler system, Pioneer requires that the activation and winterization be handled through our team. Sprinkler systems are critical to the property, and if they are not properly shut down before winter, they can cause significant water damage inside the home. Most tenants are also unaware of the local municipality’s watering requirements and tend to set the timer to overwater the grass. For that reason, we do not rely on residents to handle this service.

While Pioneer has never completed an eviction for a resident we placed, that does not mean we have never encountered residents who struggled to pay rent. After placing thousands of residents over the years, situations occasionally arise. In most cases, missed payments are tied to major life events such as a job loss, a medical situation, or the loss of a partner.

Our first approach is to understand what is going on and treat the resident like a person, not just a lease agreement. When possible, we try to work toward a solution that keeps everyone in the best position. In some cases, that may mean setting up a short-term payment plan. In other situations, it may make more sense to allow the resident to end their lease early rather than forcing the situation toward an eviction.

At Pioneer, rent is due five days before the end of the month. Colorado law requires a seven-day grace period before late fees can be applied, which means late fees typically post on the 3rd of the month. When a payment becomes late, our team reaches out to the resident to determine what is going on and what options may be available.

If the balance remains unpaid, we will serve a formal demand for payment. The demand for payment gives the resident 30 days to make the delinquent payment before further legal action can begin.
If the demand period expires without resolution, Pioneer will work with our legal team to begin the eviction process. That said, evictions are difficult and costly for everyone involved. Our goal is always to resolve the situation before it reaches that stage whenever possible.

Check out our blog on how we’ve maintained our ZERO eviction rate HERE