Get Ready to Cut Your Tenants a Check [Analyze This]
by Osman Parvez
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Rates remain far from normal. In case you forgot, here’s a little visual reminder.
The chart above shows the 1 mo average CD rate (blue) compared to the required rate for tenant security deposits in the City of Boulder (red).
Someday we’ll return to normal, maybe. Don’t expect it anytime soon, however.
Though the required rate is only 0.16%, landlords must track and make this payment to their tenants. For a fairly typical $2400 per month lease in Boulder, you’re required to send your tenants a check for $3.84.
References
Tenant security deposit data courtesy of the Boulder Area Rental Housing Association (BARHA). If you’re a serious income property investor in Boulder, become a member. There is no substitute.
The average 1 month CD rate is the combination of two series: The 1 Month Secondary Market Rate (discontinued) and the 1 Month CD Rate on Non-Jumbo Deposits.
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The ideas and strategies described in this blog are the opinion of the writer and subject to business, economic, and competitive uncertainties. We strongly recommend conducting rigorous due diligence and obtaining professional advice before buying or selling real estate.
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Osman was a refreshingly honest realtor. He stressed through the entire process that his goal was to make me happy with my home purchase. I greatly appreciated the fact that he never shied away from pointing out the negatives as well as the pluses of different places while leaving the final decision up to me.
We can highly recommend Sophie. Her attention to detail and communication skills are great. Our home was in area that most realtors are not familiar with, but Sophie took extra time to get to know the neighborhood in order to give us quality service. She also brought in a professional photographer to make our home look its best. Even though the listing was in winter, the house sold quickly. With Sophie’s business and people skills, we have no doubt she will be a top realtor in the area.
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More about the author
Osman Parvez
Owner & Broker at House Einstein as well as primary author of the House Einstein blog with over 1,200 published articles about Boulder real estate. His work has appeared in the Wall Street Journal and Daily Camera.
Osman is the primary author of the House Einstein blog with over 1,200 published articles about Boulder real estate. His work has also appeared in many other blogs about Boulder as well as mainstream newspapers, including the Wall Street Journal and Daily Camera. Learn more about Osman.
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