How We Helped A Relocated Colorado Owner Make $6.7K/mo.

Background

Craig is a veteran who used to live in this beautiful property in Woodland Park, Colorado with his family. In 2023, he relocated to Alaska due to work which left this property vacant.

Since he was paying the mortgage for out of pocket and wasn’t around to short-term rent it himself, he considered whether he should sell it or use a property manager to rent it out.

The owner

The house is located in Woodland Park, a calm area outside of Colorado with a stunning view over Pikes Peak from the front porch.

With its 3 bedrooms and 2 bathrooms, the property can fit up to 6 guests and was split into two separate rental units.

The Property

"Since I was leaving Colorado, I needed someone who could handle everything for me for most of the year, and that's what Kelsie and Erin at DreamBnB helped me with"

Our Solution

Craig decided to keep the property as a long-term investment and rent it out. That’s where we came in with our full-service management and took care of everything for Craig’s rental.

This allowed him to focus on his work and family up in Alaska while collecting a good paycheck every month.

“I knew that if I’d let you guys rent it out I could both pay down the mortgage to get more equity but also extra income on top of it. Then later on when the real estate market is better I could sell it at that point”

Our Full-Service Management became a success for Craig, since he left the house fully furnished it was ready for us to start managing.

Take a look at everything we did below.

  • To short-term rent it, we did a few last tweaks including:

    • Install digital locks.

    • Set up security cameras outside.

    • We arranged a professional photographer.

    • We built a custom profile for the property on AirBnB, VRBO and Booking.com.

    • We continuously updated the listings and optimized the pricing based on the market condition to give Craig the highest returns possible.

  • We took care of everything both online and on the ground, including:

    • Bookings & calendar

    • Guest Communications

    • Cleaner management

    • Maintenance Coordination

    • Guest Resolutions

    • Each month, Erin created a financial report with all the numbers on how the property is performing.

Results & Conclusion

Craig has now lived in Alaska for over 18 months, and he’s been able to completely focus on his work, family all the other duties up in Alaska while his Colorado rental has produced great revenue.

Owner Payouts

In 2024, he averaged $6.7K a month in owner payouts, with the highest month being $12.2K in July and lowest being $4.1K in February.

“Things have run very smoothly with the house ever since we started, as long as I’m staying in Alaska I’ll keep working with you to rent it out”.

Get In Touch

Get in touch with us today and see how we can help you.