Nestled in the heart of a rapidly expanding metro area at the foot of Pikes Peak, Colorado Springs lures in residents with its stunning mountain views, wide variety of outdoor recreation opportunities and relatively affordable cost of living, earning it its designation as the third-best place to live in the United States.

But as the housing market has balanced out and apartment construction has surged in recent years, landlords have increasingly had to compete for tenants, with vacancy rates in Colorado Springs metro area multifamily rentals jumping from 5.5% in the fourth quarter of 2021 to 7.4% in the fourth quarter of 2024, according to the Colorado Housing and Finance Authority.

For landlords, vacancies can be devastating: If a rental listed for the city’s median rate of $1,400 is vacant for just six months, that’s a loss of $8,400. That’s why an effective Colorado Springs property management strategy is essential. Whether you own a bungalow in Old Colorado City or a trendy apartment downtown, a strong lead generation pipeline can help you maximize your investment in Olympic City USA.

Understanding the Colorado Springs Rental Market

Colorado Springs is Colorado’s largest city by area, and its demographics vary widely, from its significant Hispanic population to the large number of military service members who are stationed at one of the Springs’ many bases. There are pockets of students, like the Colorado College students who live downtown, and the west side is a base camp for outdoor enthusiasts of all ages.

No matter which side of the Springs you’re on, there are plenty of residents who could be prospective tenants, but in a city as spread out — and with as many different demographics — as the Springs, it can be difficult to understand the rental market.

Although the median rental rate across the Colorado Springs metro area was $1,400 in the fourth quarter of 2024, rates vary depending on which side of town you’re on. This was the median rent for apartments in the following neighborhoods, according to the Colorado Housing and Finance Authority:

• Airport: $1,116

• North: $1,575

• North Central: $1,145

• Palmer Park: $1,225

• Rustic Hills: $1,219

• Security/Widefield/Fountain: $1,450

• South Central: $1,332

• Southwest: $1,502

• West: $1,379

Nationally, there are typically more rentals available in the summer, since people often want to move before colder weather comes and school starts for children. In Colorado Springs, demand from some rental demographics is more seasonal than others, such as the military service members stationed in the area on a regular schedule or college students seeking new apartments before school begins in the fall.

When it comes to renter demand, Colorado Springs’ rental market is considered warm, according to Zillow. It’s neither hot nor cold, but somewhere in the middle, which offers plenty of opportunity for savvy landlords who are willing to work to find a competitive edge.

Online Lead Generation Strategies

If you’re seeking new leads for your rentals, there are several online strategies you can use to give yourself an advantage in the marketplace. First, because many people begin their search for a new rental property on their real estate website of choice, it’s essential to optimize your rental listings on popular platforms like Zillow, Apartments.com and Craigslist. That means taking high-quality, engaging photos to appeal to online browsers and taking the time to write up a detailed property description.

It’s also useful to market on social media, from posting listings on Facebook Marketplace and local online community groups to creating Instagram content to promote listings.

Offline Lead Generation Strategies

Although it might seem like everything happens online nowadays, there are offline strategies for you to employ, too. To find new leads, you can network with local real estate agents and relocation services, many of which might know clients in need of a rental. You should also encourage your current tenants to make referrals by offering them a cash incentive. And finally, you can post flyers in community centers, coffee shops or local businesses to catch someone’s eye.

Compliance with Colorado Springs Rental Regulations

Although securing a quality renter might seem like the biggest challenge that landlords face, the work doesn’t stop there. Both throughout the search for a renter and during the tenant’s stay on your property, it’s essential that you comply with all state and local rental laws and fair housing regulations. You must also ensure transparency and legal compliance in all marketing and communications with your tenants. Although dealing with the legal side of property management it may seem complicated, it’s an essential step to protect both yourself and your tenants.

In Colorado, the Anti-Discrimination Act protects people from housing discrimination based on a variety of characteristics. The state also has laws regulating many aspects of property management, from the amount that a landlord can charge for an application fee or a security deposit to how the lease termination or eviction process must be handled.

Hiring a Colorado Springs Property Management Company to Manage Lead Generation for Rental Properties

Navigating the logistics of managing a rental property can be difficult and time-consuming — and that’s why many prefer to outsource lead generation to a local property manager. A property manager with expertise in the Colorado Springs rental market can save landlords time and ensure faster tenant placement.

Property managers’ services can include listing, tenant screening and leasing. A Colorado Springs property management company will bring expertise in leveraging its managers’ networks and using its marketing channels to find high-quality tenants quickly.

A property manager can provide you with a simple and seamless experience as a landlord, but it’s important to select someone you trust to manage your property. Consider these tips for selecting a reputable property manager in Colorado Springs:

• Verify the property manager or property management company’s licensing and local market experience

• Check online reviews and client testimonials

• Compare fees and services offered

Lead Generation for Rental Properties in Colorado Springs

To fill your Colorado Springs properties quickly, there are several strategies you can implement, from optimizing your rental listings on websites such as Zillow to networking with local real estate agents and relocation services, who could refer clients to you. For maximum reach, consider combining online and offline tactics — by leveling up your strategy, you can reduce vacancy periods in your rentals and boost your rental income.

Interested in learning how a trusted Colorado Springs property management company with local expertise could make the process a breeze? Contact Evernest today to learn more!