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Owning a rental property in Colorado Springs was supposed to feel like a smart, steady investment — not a constant source of stress. But if you’re reading this, chances are something has shifted. Maybe the late-night maintenance calls have worn you down. Maybe a tenant stopped paying rent months ago, or the property needs more work than the income can cover. Whatever brought you here, you’re not alone, and you have more options than you might think.

Selling a rental property in Colorado Springs is different from selling your own home. There are tenants to consider, capital gains taxes to plan around, and timing that can make or break your bottom line. The good news? With the right approach, you can move on quickly — sometimes in as little as a week — without sacrificing your peace of mind.

Why So Many Colorado Springs Landlords Are Ready to Sell

Being a landlord sounds great until you’re the one fielding 11 p.m. phone calls about a broken furnace in the middle of a January freeze. Across neighborhoods like Old Colorado City, Briargate, and Stetson Hills, more property owners are quietly deciding that the rental life isn’t worth it anymore. Some common reasons we hear:

• Problem tenants who damage the property or refuse to pay
• Aging properties that need expensive repairs (roof, HVAC, plumbing)
• Out-of-state owners who inherited the rental and don’t want to manage it
• Rising property taxes and insurance costs eating into cash flow
• A desire to free up equity for retirement or a different investment
• Burnout — plain and simple

If any of that sounds familiar, selling for cash can be a clean break. You skip the months of listing, showings, and tenant cooperation, and you walk away with money in hand.

Capital Gains and the 1031 Exchange: What Colorado Landlords Should Know

Here’s where a lot of landlords get nervous: taxes. When you sell a rental property in Colorado, you’ll likely owe federal capital gains tax (typically 15-20%), depreciation recapture (up to 25%), and Colorado state income tax — which is currently a flat 4.40% on the gain. For a property you’ve owned for 10+ years, that bill can be significant.

The good news is that there are legitimate ways to soften the hit:

• 1031 Exchange: Roll your proceeds into another investment property and defer capital gains taxes entirely. You have 45 days to identify a replacement property and 180 days to close.
• Installment Sale: Spread the taxable gain over multiple years by accepting payments over time.
• Cost basis adjustments: Make sure your CPA accounts for every capital improvement you’ve made — new roof, kitchen remodel, etc.

A quick conversation with a tax professional before you sell can save you thousands. We can also coordinate closing timelines if you’re working a 1031 exchange — we’ve helped plenty of Colorado Springs investors hit those tight deadlines.

Selling With or Without Tenants in the Property

One of the biggest questions landlords ask is: “Do I need to wait for my tenants to leave before I sell?” The short answer is no. We buy properties in any condition and any occupancy situation, including:

• Occupied with paying tenants — great for buyers wanting immediate cash flow
• Occupied with non-paying or problem tenants — we’ll handle it from here
• Vacant properties — close fast, no staging required
• Mid-eviction — yes, even that

Colorado law requires landlords to give tenants proper notice depending on the lease type, and a sale doesn’t automatically void an existing lease — the new owner typically inherits it. That’s actually a benefit when selling to a cash buyer like us, because we don’t need the unit empty to move forward. You don’t have to evict anyone, clean anything, or even tell your tenants their landlord is changing until the deal is done.

What a Fast Cash Sale Actually Looks Like

Whether your rental is a fixer-upper in Old Colorado City, a townhome in Briargate, or a single-family in Stetson Hills, the process is the same:

• Reach out with a few details about the property
• Receive a fair, no-obligation cash offer within 24-48 hours
• Pick your closing date — as soon as 7 days, or whenever fits your timeline
• No repairs, no commissions, no cleaning, no showings

If you’re ready to stop being a landlord and start enjoying your equity, we’d love to talk. Call Blue & Gold Homes today at (619) 480-0195 for a straightforward, pressure-free conversation about your rental property in Colorado Springs. Whether you sell to us or not, you’ll walk away with a clearer plan than you have right now.

Frequently Asked Questions

Can I sell my rental property in Colorado Springs if I still have tenants living there?

Absolutely. We regularly buy occupied rental properties throughout Colorado Springs, and you don’t need to ask tenants to leave or break their lease. Under Colorado law, existing leases typically transfer to the new owner, so the tenants stay put and we take over as landlord. You can even close without your tenants knowing the property is being sold until afterward.

How does a 1031 exchange work when selling to a cash buyer?

A 1031 exchange lets you defer capital gains taxes by reinvesting proceeds into another qualifying investment property. Selling to a cash buyer actually makes this easier because closings are fast and predictable, which helps you meet the strict 45-day and 180-day IRS deadlines. We’re happy to coordinate with your qualified intermediary to keep everything on schedule.

Will I have to pay capital gains tax in Colorado on my rental sale?

Most likely yes — Colorado charges a flat 4.40% state income tax on the gain, plus you’ll owe federal capital gains tax and depreciation recapture. The exact amount depends on how long you’ve owned the property and your tax bracket. A quick chat with a CPA before closing can identify deductions and strategies to reduce what you owe.

What if my rental property needs major repairs or has code violations?

That’s actually one of the most common situations we see. We buy properties as-is across Colorado Springs, including homes with foundation issues, roof damage, outdated systems, fire damage, or open code violations. You won’t need to fix a thing, get inspections, or negotiate repair credits — we handle all of that after closing.