Cheyenne, WY: Magic City of the Plains
Cheyenne has an estimated population of 64,742 residents, making it the most populous city in Wyoming. It also acts as the capital city of Wyoming and as the seat of Laramie County. Cheyenne is home to several sites and buildings recognized under the National Register of Historic Places. This includes the Atlas Theatre, the Historic Plains Hotel, the Governor’s Mansion, and the Nagle-Warren Mansion.
In Cheyenne, residents enjoy an abundance of outdoor activities. There are many parks and greenways in the area, and the city even earned a “Trail Town USA” designation by the National Park Service. There are also several sporting venues in Cheyenne, including Powers Field, the Cheyenne Ice and Events Center, and Bison Stadium.
Additionally, Cheyenne hosts an annual event called the Cheyenne Frontier Days. This 10-day celebration consists of several events such as professional bull riding and steer wrestling as well as the largest outdoor rodeo in the country. Other notable points of interest include the Wyoming State Capitol, Laramie County Community College, F.E. Warren Air Force Base, and Cheyenne Botanic Gardens.
How Is Cheyenne’s Rental Market?
Cheyenne has a pretty attractive rental market. Homes are relatively affordable, with a median listing price of $245,800. This is only 8% higher than the national median. Cheyenne also has a fairly large pool of renters. In fact, renters comprise 34.1% of the city’s population.
Image via towncharts.com
However, Cheyenne has a lower rental rate compared to other cities. In 2019, the median rent in the city was $841. Although this is higher than the median rent in Wyoming ($822), it is cheaper than the national median ($1,097). It should also be noted that 2019 experienced a dip in median rent from the previous year.
Image via deptofnumbers.com
While rent may be comparatively cheaper in Cheyenne, property investors do benefit from the state’s landlord-friendly regulations. In Wyoming, landlords can enter a tenant’s unit without prior notice or terminate a lease if rent is more than three days overdue.
Why Go With a Cheyenne Property Management Company?
Rental property management does not suit everyone. Landlords tend to have a difficult time balancing the many responsibilities required of them, especially with a 9-to-5 job or a family to raise (or both). This is exactly why a lot of people are hesitant to invest in rental properties.
With a Cheyenne rental management company, though, all your problems will be solved. When you hire a management company, you can delegate most of your duties as a landlord to an experienced professional. Rental management companies typically offer an extensive range of services — from finding and screening tenants to collecting rent to enforcing lease terms to processing evictions.
How do you know if it’s time to hire a rental management company?
- Rental management does not interest you.
- You don’t know anything about how to properly manage your rental property.
- Your rental property is located far from where you live or spend most of your time.
- You don’t have enough time to manage your rental property.
- You own multiple rental properties that you can’t juggle all at once.
Start Looking for Property Management in Cheyenne
Searching for the right rental management company can be a frustrating process. There are several companies offering the same service that it can be hard to narrow down your options. It is simply overwhelming at times.
Rental Choice provides landlords and property investors with a convenient database of trusted rental management companies. Using our online directory, you can search for companies by location and get their much-needed contact information without any hassle.