If you are a property manager or landlord in Lakewood, Colorado, you have likely heard that a new law has been announced pertaining to short-term rental (STR) properties. Set to go into effect on September 1, 2023, this new law will require all STRs to be licensed.

Properties must be assessed by a qualified inspector, and they must meet a list of criteria. Once the STR is deemed compliant, it can then be registered with the city and rented out.

The city of Lakewood determined that licensing was a necessary step in order ensure that short-term rentals are up to minimum safety and habitability standards.

What is a Short Term Rental?

According to the municipal code of the city of Lakewood, “a Short-Term Rental or STR means the rental of any real property, or any portion thereof, for not more than twenty-nine (29) consecutive days, excluding hotels, motels, bed and breakfasts, or any other rental of property for habitation purposes.”

Short-term rentals can come in all shapes and sizes, ranging from full residences to apartments, ADUs, to individual rooms within a house.

Why Does My STR Need a License?

With the immense popularity of hosting platforms, such as Airbnb.com and VRBO.com, we have seen a significant increase in short-term rentals nationwide. As a result, many municipalities across the country have been implementing licensing laws. Colorado is no exception, with cities such as Denver, Boulder and Longmont considering or implementing some form of licensing. Some jurisdictions require inspections, some do not.

As stated above, the primary reason for the Lakewood short-term rental license, is to ensure that a property is a safe space to inhabit. Additionally, licensing also serves to control the amount of STRs that are popping up in a given area.

What Can I Expect at an STR License Inspection?

In order to acquire a license, the city of Lakewood requires an ASHI-certified inspector to assess the premise to make sure it is compliant with a list of items. The city clerk’s office provides a checklist (shown below) that must be filled out and signed by your inspector.

All items required on the checklist are as follows:

• An up-to-date fire extinguisher must be located on each floor of the dwelling. 
• Operable carbon monoxide detectors must be in each bedroom of the dwelling. 
• Each floor of the STR must have an operable smoke detector. 
• If the STR has living/sleeping areas in the basement, they must be equipped with sufficient means of egress.

If any items are found to be noncompliant at the time of inspection, the landlord will have to make the necessary corrections and then show the inspector proof of compliance. Once the report is successfully completed, you can then send it off to the county clerk with the official application, which can be found here. Note: according to municipal code of the city of Lakewood, the inspection report must be completed within 30 days of the application.

How Do I Apply For My STR License?

So you have successfully completed your inspection and you have your completed report – what’s next? You will now have to send an application to the city clerk’s office. The city establishes the list of all necessary documentation in section 5.55.030 of the municipal code.

It is quite an extensive list, and the city will not accept applications unless all documentation is accounted for. So make sure to read through all the requirements carefully.

You will need to include the following:

• The application itself, which can be accessed here.
• Proof of primary residence
• Proof of property ownership
• Proof of insurance
• A floor plan of the proposed space for the STR
• A copy of the private rules (HOA) in the area, to prove that an STR is admissible
• A copy of city sales and use license OR a copy of your agreement with a hosting platform (i.e. Air BnB)
• An affidavit of ownership and primary residence that is signed and notarized
• An affidavit of compliance with Lakewood municipal code that is signed and notarized
• A completed and signed inspection report
• A community notice form for each neighboring property to inform them about your STR (here’s an example)
• A non-refundable application fee of $150, as required by the City of Lakewood (this is in addition to our inspection fee)

In order to make sure you don’t miss any steps in the application process, you can download this helpful application checklist provided by the city of Lakewood.

Lakewood Short Term Rental License Inspections

Here at Scott Rental Inspections, a division Scott Home Services, we are no strangers to the rental inspection process. We have been conducting rental inspections in Boulder for 16+ years; we have been on the forefront of the recently implemented Denver rental license program; and now we are proud to be offering our services in the Lakewood short term rental market, as well.

Are you in need of a rental inspection for your Lakewood STR? We have a team of experienced, ASHI-certified specialists who can help you meet your inspection needs in a timely, efficient, and professional manner. We are here to help you ensure that your property is safe, certified and ready to rent!

Visit us on online to learn more about our STR inspection services, or contact us to book your short term rental inspection today!

If you are a Denver landlord or property manager, you are no doubt aware of the Denver Residential Rental License Program. Residential rental property licenses are now required on all multi-family and single-family properties in the city of Denver.

There are several steps necessary to get your Denver rental property licensed. Sometimes it can be a bit confusing and overwhelming, but not to worry!

At Scott Home Services, we have extensive experience with the entire process. We are the largest provider of rental license inspections in Boulder, and we were the first company to provide the service under Denver’s law. In this blog, we will break down all the steps needed in order to acquire a Denver residential rental property license.

Does the Denver RRP Apply to Me?

The first question you may be asking yourself is: Does this residential rental property license even apply to me? Simply put – if your property is located in the County of Denver, and you offer it for rent for 30 days or more at a time, you must get it licensed. You can verify that your property has a valid Denver address with their tool here: https://www.denvergov.org/Maps/map/bestaddress

For a deeper dive into licensing requirements, take a look at “Article VIII” of the Revised Municipal Code of the City and County of Denver, Colorado

The Denver Residential Rental Program (RRP) Guidebook states that “property owners that rent more than 1 unit at a single location (a ‘multi-unit property’) [were] required to apply for a license by January 1, 2023. Property owners that rent only a single unit at any one location, [were] required to apply for a license by January 1, 2024.”

If you own or manage a rental property, you should have applied for a license by now. If not, it’s time to get a move on!

Residential Rental Property License Inspections

So it turns out you have to get your property licensed. What’s next? It’s time to get an inspection.

The city requires a RRP-certified rental inspector to inspect the property and assess it based on the official Residential Rental Inspection Checklist. To be a certified inspector, the individual needs to hold a valid ICC combo inspector certification and either an ASHI or InterNACHI certification.

While the city of Denver maintains a list of self-reported inspectors, the city is not directly affiliated with any inspection company. Our inspectors hold these certificates, but when you connect with an inspection company for your certificate, you should verify they have the required certifications.

All single-unit properties need to be inspected individually. For, multi-unit properties, the city mandates that 10% of units need to be inspected.

The inspector will evaluate the property based off the required criteria and fill out the checklist accordingly. If any items on the checklist are not up to code, they will be marked as “non-complaint.” Any of these non-compliant items will need to be addressed before the property can become properly licensed.

Exceptions to the Inspection

In some instances, a physical inspection can be avoided. Generally, when a government-based inspection occurred recently, you can use this report instead. These instances include the following:

1. If you have a recent alternate inspection report from a Federal Housing Agency such as an affordable or public housing program.
2. If the house is new construction and has gotten the final Certificate of Occupancy (CO) within the last 4 years.

Either of these reports can be submitted instead of a qualified inspector’s report. However, 4 years from now, when the license needs to be renewed, you will need to present these documents again. At that point, a CO will likely be too old to accept.

Submitting the Application

Once the inspection is complete, it is now time to submit your Denver residential rental property application. Applications must be submitted within 90 days of the initial inspection. If the application is sent after this 90-day window, the initial inspection will be considered invalid, and a new inspection will be required. So make sure to stay on top of those applications!

We recommend submitting your application as soon as possible after the inspection, even if the inspector noted any non-compliant items on the property which failed the inspection. This is because you will have one year from the date of application to make the necessary repairs to the property if a failed report is submitted.

Ready to apply for your Denver residential rental property license? Apply here!

When you have made the necessary repairs, your inspector must verify that the changes have been made sufficiently. Once verified, the inspector will fill out the re-inspection section of the checklist, which states: “I certify all reinspect items have been resolved.” Then, with the completed inspection report, along with the application, you will be able to acquire your license.

Fee Breakdown

One of the most common questions we get is “How much is this all going to cost?” That is a valid question and we’ve got the answer. There will essentially be four different factors that will contribute to your expenses: inspection fee, application fee, property repair fees, and license fee.

Inspection Fee

As stated above, a residential rental property license inspection is mandatory and is typically around $195 for a single unit. Inspection prices can vary depending on the inspection company and how many units you have in your portfolio. As stated before, the inspection companies are not directly affiliated with the city and each company can set its own prices.

Scott Home Services provides competitive pricing for single-family and multi-unit properties. Higher volume discounts are available if multiple inspections can be performed on the same day or if there are several units in the same building. Feel free to contact us for more info on our pricing. Or you can schedule a single-unit inspection online. 

Application Fee

The City of Denver currently requires a one-time $50 application fee.

Property Repair Fees

This number can obviously vary from case to case. Your property might be 100% compliant right off the bat, with no need for any corrections. On the other hand, repairs could be needed to bring your property into compliance, which would need to be priced out accordingly.

License Fees

Denver currently breaks down these fees based on the number of units that need licensing, but please confirm fees as applicable for your property here:

• $50: Single dwelling unit
• $100: 2 to 10 units
• $250: 11 to 50 units
• $350: 51 to 250 units
• $500: 251 or more units

Need a Residential Rental Property License Inspection?

If you are in need of a rental license for your property or properties, we hope that you will consider Scott Home Services. We have a team of 67 Denver RRP-qualified inspectors, with more in training. We are geared up and ready to help you with your inspection needs.

Our company has also been providing rental license inspections in the city of Boulder for the last 14+ years, which gives us the experience needed to effectively navigate the Denver Residential Rental Program. It is our goal to provide every client with fast, efficient, and professional services, while offering top-notch customer service and support every step of the way.

If you have any more questions or wish to schedule your rental inspection, contact us now! 

Furnaces and water heaters are key elements in any Colorado home. However, being that they are combustion appliances, they can pose safety and health hazards if not configured properly. One of the most common practices in the residential setting is to have these appliances installed in a combustion closet.

When it comes to Denver and Boulder rental properties, there are strict guidelines with regards to combustion closets or rooms. For rental license inspections, it all boils down to safety. A rental property needs to meet a list of standards in order to be deemed safe for its occupants.

Why Are Proper Combustion Closets So Important?

Combustion appliances are, by definition, fuel-burning. They combine a gas supply with oxygen in order to create fire. This reaction, in turn, heats your water and air.

The byproducts of this chemical reaction are carbon dioxide and water. In many cases, if the fire is not receiving enough oxygen, it will produce carbon monoxide, instead of carbon dioxide.

Carbon monoxide (CO) is highly toxic to humans if not ventilated properly. So, it follows that an enclosure with a combustion appliance must be built properly to ensure safe living conditions.

A fuel-burning device needs a source of fresh combustion air and an avenue for ventilation to expel its fumes. If the device does not have unhindered access to fresh air, it may begin to create negative pressure and pull the air it needs through the exhaust piping. Once that air is moving inward through the exhaust pipe, the fumes being produced as a byproduct have nowhere to go but back into the home. Now we have CO making its way into the living space, and that is an obvious problem.

It was common practice in many older homes to put combustion appliances in closets with louvered doors (shown below). The slats in these doors allow the appliance to draw fresh air in from the interior of the home. And if the ventilation flue is installed properly with no obstructions, this configuration should technically work.

However, according to code, using the louvered door method can be hazardous and especially unacceptable in certain locations such as the bedroom or bathroom.

For instance, if a fire were to break out in a bedroom combustion closet, without the proper fire-proofing precautions (i.e. a louvered door), the fire could quickly spread into the bedroom. Or what if a combustion device is located in bathroom closet with a louvered door? If someone turns on the exhaust fan, it could potentially create a backdraft and start to pull CO fumes into the bathroom.

Due to all these potential issues, it eventually became apparent that we needed to establish a standard for combustion appliances and how they are installed in the home.

Combustion Closets, By The Book

As mentioned above, when conducting rental license inspections in Boulder and Denver, inspectors are going to be paying close attention to the location and configuration of furnaces and water heaters. Both municipalities have similar standards. They have adopted the codes established in section 303.3 of the 2021 International Fuel Gas Code (IFGC).

So, can furnaces and/or water heaters be located directly inside bedrooms or bathrooms? No. However, they can be accessible through bedrooms or bathrooms, as long as they are contained in an isolated room or closet.

If a fuel-burning appliance is accessed through a bedroom or bathroom, it must be installed in a room or closet that is completely sealed with weather stripping and a door equipped with a self-closing device. Additionally, the appliance must have its own access to a source of combustion air from the outdoors. Furthermore, its exhaust must also terminate outside the home through its own dedicated piping. When built correctly, these combustion closets should have an airflow system that is operating independently of the living space.

The diagram below illustrates a water heater in one of the most efficient types of sealed combustion closets. Most new furnaces are built with direct ventilation systems (top picture shown above), meaning their intake and exhaust piping are mounted directly onto the appliance. These examples illustrates two different methods for proper combustion appliance configuration.

Utility rooms are commonly located in basements, and there are many basement rental units. It follows that the rental license guidebooks also address these specific living spaces. Any habitable part of the basement unit must be separated from any room containing fuel-burning appliances. According to section 4.2 of Denver’s residential rental program guidebook:

“If a fuel-fired furnace is located in a room that opens directly into an area used for sleeping, the two rooms must be separated by a solid core 1-hour fire-rated door with a smoke seal around it.”

Rental License Inspections

At Scott Home Inspection, we have been offering our rental license inspection services to the Boulder area for 10+ years. And now with the recently implemented Denver residential rental license requirements, we have several certified inspectors who are qualified to offer the same, high quality rental inspection services to the city of Denver.

When observing the combustion appliances in the home, our inspectors will consider a few key questions. Is the appliance functioning properly? Is it installed in a safe, and code-acceptable location? Does it have proper ventilation? Does it have an adequate combustion air supply? Any deficiencies noted at the time of inspection will be called out for repair and/or correction.

Our number one priority is to help Colorado families live in safe, healthy, and comfortable homes. So when assessing a rental property for licensing, our inspectors are as thorough as possible. We observe all aspects of the property as required by the municipality, and provide an unbiased pass or fail assessment.

If you are in need of a rental license, we recommend reviewing the applicable rental license guidebooks (City of Denver or City of Boulder) prior to the inspection.

We hope you will contact Scott Rental Inspections for your next Colorado rental license inspection! For more info, feel free to contact us today!

If you are a property manager or rental property owner in Boulder or Denver, you likely know a thing or two about rental licenses. The city of Boulder has required rental licensing for quite some time. And the city of Denver is following in its neighbor’s footsteps, making rental licensing mandatory by January 2024 for all rental properties.

A rental license inspection is meant to ensure that a rental property is a safe living space for its occupants. The inspection covers a wide variety of aspects throughout the home. But in this article, we will focus on the electrical components of the home.

Electricity is no joke. So sometimes even seemingly minor issues can lead to huge safety hazards. This is why it is important to be aware of the electrical issues that can fail a rental license inspection.

Missing GFCI Outlets in Bathrooms

At least one GFCI outlet is required in all bathrooms. This is considered a critical safety issue, and failure to meet this requirement will result in a failed rental license inspection.

A GFCI or “Ground Fault Circuit Interrupter” is meant to prevent electrical shock. The GFCI can detect any irregularities in the electrical currents at an outlet. When these irregularities are detected, the GFCI will immediately shut off, preventing any electrical hazards.

This type of outlet is especially important when near water features because water is a very conductive medium for electricity. So it follows that bathrooms need the extra security that GFCI outlets can provide. For a more in-depth discussion on GFCI outlets, check out our article, GFCI Outlets Explained.

Exposed Electrical Wiring

Wiring that is not contained by the proper conduit or enclosure is another way that can cause a rental license inspection failure. This one is pretty self explanatory. Simply put – exposed wiring or wiring in disrepair can be dangerous.

When conducting rental license inspections, our inspectors pay close attention for these types of issues. Outlets without covers is one of the more common defects we observe. This may seem like a minor defect to some. But on the contrary, uncovered outlets present serious safety risks – especially for curious children or pets. If any aspect of the property’s electrical system is exposed and deemed unsafe, it will be called out for evaluation and repair.

Improperly Wired Outlets

During the rental license inspection, inspectors will also be checking each outlet for functionality and proper wiring. They have specialized outlet testing devices that can indicate issues the outlet may have. Reverse polarity is a defect commonly found when an outlet is accidentally wired in reverse. With this reverse wiring, an outlet has the potential to produce an unstable current that can lead to serious electric shock and/or property damage.

This is an obvious concern for any unsuspecting tenant. So naturally, this type of issue will need to be fixed to pass an inspection. We elaborate on this topic in our past article about common electrical issues.

We also check the main electrical panel to ensure that a) it is accessible and not obstructed and b) it is properly wired with no safety hazards.

Use of Permanent Extension Cords or Makeshift Wiring

Inspectors will be on the look out for any problematic, makeshift wiring. We want electrical wiring to be professionally, and safely configured. So any wiring that is tacked, stapled or nailed to the walls will not be acceptable.

Additionally, extension cords being utilized for permanent wiring will be deemed hazardous and grounds for rental inspection failure. Extension cords can not be extending across doorways, from room-to-room, through unit walls, or across walkways.

Note that, according to section 3.4 of Denver’s Residential Rental Program guidebook, property owners or managers can address and remedy these problems to a satisfactory configuration during the inspection, if possible.

What Will Not Fail a Rental License Inspection?

There are certain electrical related issues that we may normally note in a standard home inspection that may not be required for a rental inspection.

For instance, missing GFCI outlets in the kitchen will not fail a rental license inspection. Being that kitchens have water features and a lot of electrical appliances in use, it is highly recommended to have GCFI outlets in this setting. However, there are technically no hard rules on the matter with regards to rental inspections.

Additionally, there are no rental license inspection rules about electrical panel brands. There are certain problematic panels, such as Federal Pacific Electrical Panels and Zinsco Electrical Panels, that were discontinued due to safety hazards. Though they are becoming more and more rare, we do still find these panels in older homes. We will always make note of these and recommend replacement in a standard inspection. But again, a rental license inspection does not require any panel replacements to be made.

Are You Ready for Your Rental License Inspection?

Rental license inspections take time and cost money. So why not shoot to pass with flying colors on the first try? Before applying for a rental license, we recommend that owners/property managers read up on all the requirements for their region. Check out articles like this one or you can go directly to the handbooks provided by the city of Boulder and the city of Denver. That way you can get your property certified, safe and tenant-ready in no time!

If you are in need of rental license inspection services, we hope that you consider us here at Scott Rental Inspections. We have a team of certified rental license specialists that service both Denver and Boulder. Feel free to contact us for more info or to schedule your inspection today.

Boulder’s Rental License program is one of the first of its kind. The program requires Boulder homeowners to pass a general health and safety inspection before being allowed to rent a property in the city.

Because of the university and the subsequent high volume of rental units, the city decided to create a baseline for quality of rental housing to ensure people and students are living in safe and healthy homes. The city has outlined the rental license requirements to abide by.

However, like many government programs, the documentation is robust and there are many different requirements that need to be met. When obtaining a rental license, a 3rd party inspection is required to verify the requirements.  Many of the items are “no-brainers”, but there are some tricky ones that cause many people to fail their initial inspections.

So if you are a Boulder rental property owner or a property manager and would like some clarification, we wrote this for you.

We will break down each category of the rental license handbook, and give you the SparkNotes version. We will also give you some hints as to what our inspectors are looking for.

Of course, you can just have a baseline Rental License Inspection done by one of our licensed inspectors to find any issues. But if you want to be proactive, read on.

The Rental License Requirements Handbook

The Boulder Rental License requirements are laid out in the handbook which can be found here. However, it is slightly complex with many references to building codes. We will break it down here as we understand it.

The two main requirements are the safety inspection and the outdoor lighting requirements. We will be focusing on the safety inspection.

But First… Occupancy Limits and Posting Requirements

The city requires anyone renting out a property to post the number of unrelated individuals allowed to live in a unit inside the doorway. This number can be found on their website here, and searching for your address. Depending on the zone of the city it is between 3 and 4.

This is less of a safety item, and more of a chance for the city to follow up on this law. The specific requirements for what the sign should say are in the handbook and at this website. This section is also touched on in this follow section.

1. General Requirements: Light, Ventilation, and Occupancy Limitations

This section is broken down into a few items.

Exterior/Interior Structure: The basis of this section is to ensure the exterior and interior of the home is in livable condition. No leaky roofs, missing siding, broken windows. Anything that could let the outside elements into the home should be properly sealed. Many people fail their baseline inspection due to having a broken or cracked window. That would fall under this section. On the interior, all areas should have handrails and general maintenance should be well kept.

Lighting and Ventilation: Along with a general habitable space, all sections of the home must have some type of lighting. Bedrooms with wall switches that operate outlets are acceptable. However, lights must be present in stairwells and hallways, and generally in places where you would normally find a light.

Ventilation violations primarily pertain to a bedroom with no window in it. Also, bathrooms must have a bath fan or an operable window for adequate ventilation.

Occupancy Limitations: This section outlines what a standard house should have for the number of tenants living in it. Pretty straight forward, but you’d be surprised as to what we sometimes see! Occupancy limits ensure that there are adequate bathrooms, a kitchen, some type of shower or bathtub, and that no one is sleeping in these areas!

The occupancy sign mentioned above is covered in this section as well.

2. Plumbing Facilities and Fixture Requirements

This section is pretty general. Basically, the big picture is NO LEAKS. All plumbing fixtures have to be in working condition and there should be hot water present in all locations you would expect it. No tenant wants to take a cold shower every day, and the city has their backs on that one!

An overlooked requirement in this section is that bathrooms must have privacy! If the door to the bathroom is broken or you can’t lock the door, this would be enough to fail your rental license inspection.

Are you in need of a Boulder rental license inspection? We are the only rental license provider with multiple inspectors. Schedule your inspection as early as tomorrow. Learn more here.

3. Mechanical and Electrical Requirements

This section is long and detailed but we will try to give a big picture overview.

General Mechanical Requirements: The house must have a heat source and water heater that are in a safe and operable condition. They also need to be installed as a professional would install it, meaning the exhaust, gas lines, gas line shut-offs, combustion air inlets, and safety requirements need to be followed. If a professional contractor installed it, you are most likely in good shape.

Water heaters also require TPR valve extensions to be present and installed the way the manufacturer intended it.

One item that people get caught on in this section is when a furnace or water heater is accessed through a bedroom or bathroom. If that is the case, the access door needs to be fully sealed with weather stripping so no exhaust can escape from the closet. Many DIY renovations of basements have issues with this.  

Along with the heating system, all other appliances like kitchen appliances need to be installed safely and correctly.

Electrical: Electrical devices fall under this category as well. This can be summed up fairly easily with 3 requirements.

1. Make sure all wiring is installed correctly and outlets are everywhere that outlets normally are expected.
2. No exposed live wires. This includes no missing cover plates.
3. Make sure you can access the main electric panel and it isn’t blocked or hidden.

If you feel that you meet the requirements of these 3 items, you will likely pass this part of the inspection. We will also be opening the electrical panel during the inspection to ensure the wiring is correct.

One key issue that the city addresses in this area is ungrounded 3-prong outlets. Many homes that have been remodeled that started with 2-prong outlets have now been upgraded to 3. The issue is that even though you add a grounding slot to the outlet, it does not mean it is connected to anything. This presents a few hazards, but it is also very common to see it in homes. The city of Boulder wants to see this addressed by adding GFCI outlets/breakers to protect the ungrounded areas or replacing the outlets that have older 2-prong outlets.

4. Fire Safety Requirements

General Requirements: The basis of fire safety in this section is about egress. You must have the escape paths available that were required when the house was built. This typically refers to basement bedrooms where there is no walk out window. Newer homes will require it, but older homes do not.

You also cannot block an area that was created for escape. For example, you cannot put bars or covers that cannot be easily removed over windows or entryways. Also, you cannot have doors that lock from the inside with a key only. In the event of a fire, if the key can’t be found, the tenant may be trapped.

Firewalls are also inspected. This includes the drywall between the garage and the home or between 2 units. This drywall must stay intact as it gives the tenant time to escape.

Smoke Alarms and CO Detectors: PLEASE PLEASE PLEASE read this section carefully. In 2018, the city of Boulder started requiring inspectors to ensure these devices are present and in the correct locations. Since then, this has been the most frequent reason for rental inspection failure.

Smoke detectors and CO detectors must follow TODAY’s code standards. Unlike most other items, older homes are not grandfathered into the rules. So here is what is needed:

1. At least one smoke detector ON EVERY FLOOR.
2. One smoke detector IN EVERY BEDROOM.
3. CO Detectors should be placed WITHIN 15 FEET of all bedrooms.

The smoke detectors are fairly straightforward, but the CO can be confusing. If all of the bedrooms are right next to each other, you can just have one unit outside the bedrooms. But if there are bedrooms in the basement and the main floor, there will need to be a CO detector outside the basement rooms, and another outside the main floor rooms.

On top of all this, all units have to be in working condition at the time of the inspection. These units can be battery powered or hard wired. Furthermore, smoke and CO detectors have a 10-year expiration. The city has asked us to ensure no detectors are older than 10 years as they would be expired!

It’s important to follow these guidelines, as Boulder requires the inspectors to go back to the property to verify that issues with the detectors have been resolved. This results in another fee from our company. If you have further questions, please give us a call.

BONUS: Floodplain signage

There is one more requirement that deserves its own section. If the building is located within a 100-year floodplain, the city requires you to post a sign outside the front door stating that it is. The sign must read as follows:

“This property is located in an area that is subject to sudden and severe flooding. In case of flood emergency be prepared to seek high ground immediately.”

To find out if your property is located in the 100-year floodplain, you can use the parcel information lookup map and search your address.

Boulder Rental License Requirements Completed and Post Inspection

And there you have it. A summary of all the Boulder Rental License Requirements in under 1000 words. We hope that this helps you prepare for your rental license inspection. We have found that a small amount of homework will save you a lot of headaches when completing this inspection.

Once the inspection is completed, our company will email you a copy of the inspection compliance form. You will combine these 2 pages with the rest of your rental license application and submit it to the city.

One note for all new rentals that have never been a rental in the city of Boulder.

Along with the rental license requirements, you will also need to pass a SmartRegs Inspection. This is Boulder’s initiative to reduce the energy usage of rental units. We have another blog post that can help you with your SmartRegs requirements as well. You can also see if your property has already passed a SmartRegs inspection here. If it has, the certification transfers to present and future owners.

We hope this helps clear up any questions you had about Boulder’s Rental License requirements. In general, the inspections do not take long, and our inspectors will help you identify any required repairs.

If you are in need of a rental license inspection, consider using Scott Rental Inspections. We have multiple inspectors, trained and certified, to complete these inspections. You will also receive a discount for multiple units, or if the rental inspection is combined with our standard home inspection. Schedule your inspection today.

Estimating your property maintenance on your rental might feel like an overwhelming task. How could you forsee how much to set aside for rental property maintenance costs? What could go wrong anyway, right?

When we invest in rental properties, we do so with anticipation of a return on our investment. When we don’t factor building maintenance into our rental strategy, our investment can quickly turn into a money pit.

There are a few different schools of thought when it comes to how much money you should spend on your property maintenance and a formula for each.

The Formulas for Rental Building Maintenance Cost

• The 50% Formula – In this equation, you would take your income from the property and apply 50% to the maintenance of the property. For example, if your income equals $500/month, you would want to set aside $250/month for maintenance and repairs. This equates to $3000 a year.

• The 1% Formula – To find the 1% option, you would take the property value and extract 1% of that value. This total would be the annual cost you would set aside or use to maintain your rental. For example, if your property is valued at $250,000, you would take 1% of that value which is $2500.

Looking for a professional rental inspector to regularly inspector your properties? We offer move in, move out, and periodic rental property inspections at affordable prices with bulk discounts. Learn more about our rental property inspections here. 

• The 5x Formula – This formula would take the monthly rental fee and apply a 1.5 times rate to come up with how much money you will likely need for property maintenance. For example, if the property rents for $1500/month you should expect to spend $2,250 on building maintenance.

• The Square Footage Formula – This is a 1 for 1 ratio calculation. Take the square footage of your rental to get the annual cost of maintaining it. For example, a 1300 square foot home will cost $1300 a year to maintain.

The caveat to all of this is that labor and materials are likely always going to be more than you anticipate. This might be because what started off as a minor repair, upon more investigation, turns into a major maintenance cost.

It’s best if you set aside an alternative “emergency” fund which will put your mind at ease so as to not threaten a year or more of your rental profits.

Get Property Proactive

One way to prepare for rental maintenance is to be proactive about looking after the property. You can do this by scheduling regular inspections of the rental home or building.

Almost all disasters start off as minor issues, the job of a rental property inspector is to locate those issues before they turn into a project that wipes out your maintenance cost budget. Our final suggestion to be proactive is to create a rental maintenance calendar and stick to it.

If you need a rental property inspection or want to learn more about how rental inspections work, visit our service page here. We can help you prepare your property for the years to come and help you grow your investment.