Lease Just Signed: Townhouse in Shanahan Ridge, Boulder

1521-shanahanIn September, 8z Rentals leasing agent Brian Kurtz, leased out this property in Boulder’s Shanahan Ridge neighborhood.

Brian said that this townhome leased slowly with about three months of marketing. He further explained that “This was one of the main indicators that the rental market was leveling out and in some cases going down.  This property is in such a great location for families looking for certain schools and it was available and marketed prior to the start of the school year.  Nonetheless it sat at $2400/mo for a while (which was the lease rate the previous two years).  We slowly dropped it week after week and we finally got $2000/mo, which is way lower than it should have gone.”  He added that there were a few other factors that affected leasing: the tenants made it a bit hard to show the property during occupancy, and left it a bit dirty, the unit is a bit dated, and we noticed that dated properties started to sit longer with all the new people coming into town looking for more updated properties.  This year renters didn’t feel as rushed, touring rentals for longer, and caused the older properties to sit a bit longer and more rent drops.  The final factor that slowed the leasing process was that the owner did not want pets, which deterred a couple of potential tenants.  Brian believed from early interest, if pets were accepted that it would have leased with zero vacancy to interested parties that had pets.

This nice townhouse has 3 bedrooms and 2.5 bathrooms. This property has a bright and open living room and dining room that also has a nice fireplace. The kitchen is large with plenty of cabinet and counter space. The master bedroom is really nice and includes a balcony and good size closet. This property has a unfinished basement with tons of storage space and a washer/dryer. This property also has a carport and access to the outdoor pool.

This property is in a great location near open space and great hiking/biking trails.

The water, sewer and trash are included in the rent.

QUICK FACTS:

Neighborhood:  Shanahan Ridge, SoBo

City: Boulder

Property Type: Townhouse

Bedrooms: 3

Bathrooms: 2.5

Square Footage: 2,064

Term: September 2016- August 2017

Rate: $1,995.00/mo

Leasing Agent: Brian Kurtz

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