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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.
Ready to buy or sell? Schedule an appointment or call 303.746.6896.
You can also like our Facebook page or follow us on Twitter.
As always, your referrals are deeply appreciated.
--
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.
