An excellent way to generate more money and provide someone with a place to live is to rent your house rather than sell it. In addition to producing cash flow, it may aid in tax deduction eligibility and long-term equity building as your property value rises. Your house may be configured as either a long-term or a transient rental.
If you want to rent your home and have questions about a residential rental property license in Denver CO, you are in the right place.
Fill Out the Application
The first step to obtaining a residential rental property license in Denver, CO, is getting the application and filling it out. You should be able to find this on your city’s housing department website. If the application isn’t available online, head to city hall, pay the application costs and begin the subsequent stages.
Schedule an Inspection
Although it is a crucial step in obtaining a rental license, an inspection is not always necessary. When an inspector is dispatched, their primary goal is ensuring the home is suitable for renting and complies with safety regulations. The inspector will examine the plumbing, electrical, and smoke detector systems to ensure they are in good working condition. Each city’s rental license inspections are different, although they usually aim to find serious health code infractions.
Make Needed Changes
Following your examination, make any required adjustments. It’s a good idea to work with a qualified, licensed contractor to do the alterations correctly and in accordance with the code. You’ll conduct another inspection when the work is finished to make sure you’re ready to depart. After that, you’ll have your license and may go to the following phase: locating your renters.
