Mike Levy’s RENTAL PROPERTY Information website

According to The Group Inc. Real Estate Insider newsletter (Vol. 31, No. 3 - April 2007), apartment vacancy rates in the Fort Collins area fell from 8.9% (3Q-2006) to 8.3% (4Q-2006) and the Greeley area fell from 7.3% (3Q-2006) to 7.2% (4Q-2006). However, the Loveland area increased from 8.0% (3Q-2006) to 10.6% (4Q-2006). According to the newsletter, apartment vacancy rates are likely to decline in the next six months - stating that “demographic and cost-of-housing fundamentals favor lowering vacancy rates”.

The Fort Collins Apartment Association launched it’s brand new website today (April 12, 2007)! You can view the website by going to www.FCRHA.org or clicking on:
Fort Collins Apartment Association Website

The Rocky Mountain Collegian Online - Kathleen Harward, Director of Student Legal Services - Issue date: 4/9/07 Section: Opinion

“Student tenants, with help from Student Legal Services, won a significant victory on Thursday in Larimer County Small Claims Court! Magistrate Schwartz ruled that the landlord in the case could not enforce a written lease that purported to rent to only three tenants when, in fact, the landlord intended from the beginning to rent to more than three.”

Click here to view the entire article:
THREE PEACEFUL WARRIORS WIN AN IMPORTANT COURT RULING FOR TENANTS

By CHRISTINE McMANUS — The Coloradoan, Ft. Collins, CO.

Rents increase, vacancies drop

The continued, slight increases in rent, mixed with declining vacancy rates, are stabilizing the multifamily housing market in the Fort Collins/Loveland area.

Average rent in the Fort Collins/Loveland market

$766 -September 2006

$730 - 2005

$722 - 2004

$721 - 2003

$729 - 2002

Multifamily vacancy rates (by percent), Fort Collins/Loveland

8.1 - September 2006

8.9 - 2005

11.2 - 2004

12.2 - 2003

13.1 - 2002

3.3 - 2001

Source: Colorado Division of Housing, third-quarter 2006 report

Click here to view the entire article:
Rental vacancy rates drop

Apartment Vacancy Rates:

From The Group Inc. Real Estate Insider - October 2006

Fort Collins Area declined to: 8.8% (1Q’06) from 12.9% (1Q’05)

Greeley Area declined to: 8.1% (1Q’06) from 12.1% (1Q’05)

Loveland Area declined to: 6.3% (1Q’06) from 10.5% (1Q’05)

Update by HUD on local rental market conditions.

You can see the full report at:
“Market Watch” and “Market Opportunities” – September 2006

Highlights:

Rocky Mountain Economic and Market Analysis Section (EMAS) “Market Watch” and “Market Opportunities” – September 2006 by the U.S. Department of Housing and Urban Development (HUD)

Market Watch -September 2006

Fort Collins: The rental market has shown signs of improving, but remains soft. According to the Colorado Division of Housing (DOH) first quarter 2006 survey, the renter vacancy rate was 8.8 percent, down from 12.9 percent reported in the first quarter 2005. Average rents during the same period fell from $788 to $743. Increased competition has put downward pressure on area rents.

Loveland: The rental market vacancy rate and average monthly rents have improved. According to the DOH, the rental vacancy rate was 6.3 percent in the first quarter 2006, down from 10.5 percent in the first quarter 2005. The average monthly rent for the same period increased from $762 to $797.

Greeley, Colorado PMSA (Weld County) (Crain) - The rebound of the Greeley economy has continued. There have not been any significant changes in the Greeley rental market since the June 2006 ‘Market Watch.’ The rental market vacancy rate has improved; however, average monthly rents have decreased.  The Group, Inc. stated in their August 2006 Real Estate Insider there remains excess rental inventory.

According to Business 2.0 (November 2006, Page 94), “The Best Places to (Still) Invest”, Fort Collins is #9 on the Top 10 list!

The article projects a 28% increase in home prices over the next 5 years.

The article talks about Fort Collins appearing “time and again on the media’s ‘best’ lists - best place to live, best place to retire, best place to raise a family, best ‘dream’ town, even the best place to ‘reinvent your life’.”

However, the article also cautions: “Another tech slump could dampen the housing forecast. With large divisions of Agilent Technologies, Eastman Kodak, and Hewlett-Packard based here, the regional economy leans mighty heavily on tech-industry growth.”

Click here to see the entire Business 2.0 article:
The Best Places To (Still) Invest: Fort Collins is #9 on the list!