Advertising available rental properties can be expensive. The cheapest and proven tool for effective advertising is to use directional signs. Posting a “For Rent” sign at the property, the nearest corner, as well as, the closest major intersection or cross streets will pay huge in financial savings and advertising effectiveness!
If you post a sign in the yard of another property be sure to inquire with the owners or current tenant for permission. Failure to acquire permission could mean your sign may end up in the garbage.
Another technique is to place exterior signage and interior signage at your available rental property. Be sure to open all window coverings allowing prospective tenants the ability to peek in the windows. Add flyers on the “For Rent” sign providing more specific rental information. These signs are a fantastic renting technique filling your rentals fast, easy and at the lowest possible cost.
For additional information on this and other renting articles, please visit our web site at http://www.mrpmrentals.com/
Your Boise Property Management Rental Resource
Sunday, December 27, 2009
Sunday, December 6, 2009
Why Hire NARPM?
NARPM stands for National Association of Residential Property Managers. NARPM is an association of Real Estate Professionals who know first-hand the problems and challenges of managing rental homes and small multi-unit properties.
NARPM was established for the professional and ethical practices of rental home management. As a member, managers network with other property managers and offices throughout the country. Being a member of NARPM provides property managers with a focused education and a clear understanding of the rental market arena.
As a rental owner searching for a property manager saves time and money. Review the companies in your area listed as NARPM members.
For additional information on this and other renting articles, please visit our web site at http://www.mrpmrentals.com/
Mountain Ridge Property Management
Your Property Management Source
NARPM was established for the professional and ethical practices of rental home management. As a member, managers network with other property managers and offices throughout the country. Being a member of NARPM provides property managers with a focused education and a clear understanding of the rental market arena.
As a rental owner searching for a property manager saves time and money. Review the companies in your area listed as NARPM members.
For additional information on this and other renting articles, please visit our web site at http://www.mrpmrentals.com/
Mountain Ridge Property Management
Your Property Management Source
Monday, November 23, 2009
Collection At Tax Time
As a property manager, you took an ex-tenant to court for non-payment and were awarded a victory and now you want payment. This also may be a requirement due to the contract agreement with the owner of the property. But, despite your faithful attempts at collections of this judgment you have been unable to do so and now your only recourse is to forgive the debt which is passed on to the owner.
Here is a thought to help collect and soothe the owner at the same time. The Internal Revenue Service treats these uncollected funds as debt forgiveness and you can send a 1099-MISC IRS form to the renter for the amount of the uncollected rent. Property Management Companies are required to mail a copy of the amount of funds past due to the last known address (which may be your rental address) prior to January 31st, then send a notice to the IRS and let them take action. It doesn't matter if the notice is received as long as one is mailed. Mail this certified mail and retain the receipt of mailing for your records. On April 15th, the IRS will match up the 1099-MISC tax form to the renter’s taxes and ask for more tax money. They technically received a month's free rent and will be required to pay the IRS taxes on the unreported money. This money is regarded as income to them.
The negative (sort of) aspect of this scenario is that after sending the notice to the IRS you no longer have any legal recourse to collect the rent and neither does the owner. In many instances people may not want the IRS to know about the unpaid judgment especially if they are collecting public assistance making your chance of collecting much higher.
Notify the tenant you will be mailing a 1099-MISC to the IRS within ten days if payment is not received. Consider adding this as a company policy to the lease agreement. This inspires many renters to make their payments to avoid such notice.
For additional information on this and other renting articles, please visit our web site at http://www.mrpmrentals.com/
Mountain Ridge Property Management
Your Property Management Source
Here is a thought to help collect and soothe the owner at the same time. The Internal Revenue Service treats these uncollected funds as debt forgiveness and you can send a 1099-MISC IRS form to the renter for the amount of the uncollected rent. Property Management Companies are required to mail a copy of the amount of funds past due to the last known address (which may be your rental address) prior to January 31st, then send a notice to the IRS and let them take action. It doesn't matter if the notice is received as long as one is mailed. Mail this certified mail and retain the receipt of mailing for your records. On April 15th, the IRS will match up the 1099-MISC tax form to the renter’s taxes and ask for more tax money. They technically received a month's free rent and will be required to pay the IRS taxes on the unreported money. This money is regarded as income to them.
The negative (sort of) aspect of this scenario is that after sending the notice to the IRS you no longer have any legal recourse to collect the rent and neither does the owner. In many instances people may not want the IRS to know about the unpaid judgment especially if they are collecting public assistance making your chance of collecting much higher.
Notify the tenant you will be mailing a 1099-MISC to the IRS within ten days if payment is not received. Consider adding this as a company policy to the lease agreement. This inspires many renters to make their payments to avoid such notice.
For additional information on this and other renting articles, please visit our web site at http://www.mrpmrentals.com/
Mountain Ridge Property Management
Your Property Management Source
Saturday, November 14, 2009
How to Screen a Prospective Tenant
When accepting a rental applications take some simple steps in tenant screening to save time, money and agony. Be sure the following information is collected on your rental application.
1. References: Require your rental application to ask for references both personal and rental references for at a minimum of the past three years. Checking this information can easily provide information into the type of person you are dealing with.
2. Income and Employment: The tenant’s monthly income should be three times the monthly rent Meaning: If the rent is $500 per month, their income should be $1500 per month take home. Verify their income is a permanent source and not part-time or temporary. If there is a roommate situation property management agents require each tenant to qualify financially with their own income. Management companies have varying policies for income qualifications and should be clearly spelled out in your contract agreement.
3. Evictions: Each tenant should have a clean record. If there is an unacceptable record refuse to rent to them. Period. Make a firm policy and apply it to all tenants without question.
4. Criminal Records: Always check a tenant's criminal record. If there is an unacceptable record refuse to rent to the. Period. Make a firm policy and apply it to all tenants without question.
5. Identification: Have each tenant produce a photo ID such as a valid driver’s license and a valid credit card or preferably their social security card. Obtain a clear photocopy of each piece of ID for your records. Why? As the property manager there is a genuine need to obtain a photo of the person(s)occupying your property. Without a photo ID you may not recognize the person(s) who initially applied to rent your property and if there comes a time for say an eviction, you will need to know what each tenant looks like to have them both legally and easily served or to locate them in a courtroom setting.
6. Collections: Check credit reports for bad payment history, tax liens, collections, derogatory or disparaging remarks, or type and number of late payments. Ideally, the credit report should be clean with no late payments and no collections. Medical issues are also listed but may or may not have any real influence on their true credit history.
7. Verification: Verify that each person moving into your rental is the same person you received an application, credit report and were screened for occupancy. Refer to the identification material for additional verification.
8. Sex Offender: Each applicant should be checked out on the states list as a sex offender or predator.
Each adult that will occupy the property must sign the lease agreement. This should be done together and before anyone is given permission to occupy the property.
For additional information on this and other renting articles, please visit our web site at http://www.mrpmrentals.com/
Mountain Ridge Property Management
Your Property Management Source
1. References: Require your rental application to ask for references both personal and rental references for at a minimum of the past three years. Checking this information can easily provide information into the type of person you are dealing with.
2. Income and Employment: The tenant’s monthly income should be three times the monthly rent Meaning: If the rent is $500 per month, their income should be $1500 per month take home. Verify their income is a permanent source and not part-time or temporary. If there is a roommate situation property management agents require each tenant to qualify financially with their own income. Management companies have varying policies for income qualifications and should be clearly spelled out in your contract agreement.
3. Evictions: Each tenant should have a clean record. If there is an unacceptable record refuse to rent to them. Period. Make a firm policy and apply it to all tenants without question.
4. Criminal Records: Always check a tenant's criminal record. If there is an unacceptable record refuse to rent to the. Period. Make a firm policy and apply it to all tenants without question.
5. Identification: Have each tenant produce a photo ID such as a valid driver’s license and a valid credit card or preferably their social security card. Obtain a clear photocopy of each piece of ID for your records. Why? As the property manager there is a genuine need to obtain a photo of the person(s)occupying your property. Without a photo ID you may not recognize the person(s) who initially applied to rent your property and if there comes a time for say an eviction, you will need to know what each tenant looks like to have them both legally and easily served or to locate them in a courtroom setting.
6. Collections: Check credit reports for bad payment history, tax liens, collections, derogatory or disparaging remarks, or type and number of late payments. Ideally, the credit report should be clean with no late payments and no collections. Medical issues are also listed but may or may not have any real influence on their true credit history.
7. Verification: Verify that each person moving into your rental is the same person you received an application, credit report and were screened for occupancy. Refer to the identification material for additional verification.
8. Sex Offender: Each applicant should be checked out on the states list as a sex offender or predator.
Each adult that will occupy the property must sign the lease agreement. This should be done together and before anyone is given permission to occupy the property.
For additional information on this and other renting articles, please visit our web site at http://www.mrpmrentals.com/
Mountain Ridge Property Management
Your Property Management Source
Tuesday, November 10, 2009
Tenant Writes Bad Check
As a property manager or owner you receive rent checks every month and for the most part have had no problems. Until now, this month you receive a bounced check. You find yourself squirming with fear and agitation at the thought of a bounced rent check then having to turn to the renter in an attempt to recoup the funds.
Your first step should be in completing adequate tenant screening to ensure this is not a habit, but one of an error of kinds. Mistakes do happen. Secondly, add to your lease agreement a NSF fee for any returned bad checks and for all rents and fees from that time on must be paid with guaranteed funds cash or money order. We recommend around $25.00 NSF fee in addition, to late fees or other bank fees. The bank will then charge their NSF in addition to the cost of the check.
Okay, you have your bases covered now what?
First, contact the bank asking for the check to be run through again. Most banks run non-sufficient fund checks twice but it doesn’t hurt to ask for clarification. Then, contact the renter as this could be a simple error and payment is a phone call away. Also, collect this rent in cash and demand the NSF fee stated in your lease be included. Don’t back down, enforce your lease.
If the funds are still not in the account and your tenant isn’t cooperating, take the check to the bank of the renter. Present the check to the cashier asking how much they can cash the check for. Suppose the renter wrote the check for $600 but the account has only $400. You can request the $400 for payment of the check. Banks aren’t wild about doing this, but will if you insist on payment. There is a risk in doing this, as the renter may add more funds to the account and you will miss collecting them and receiving payment in this manner is perceived as payment in full for the check.
Another way to collect funds is called “Submitting a Collection Item”. Tellers may not be aware of this process so you will need to speak to the bank manager. There is a fee for this service usually around $15.00. The process is done like this. When you hold a check for collection, much like the process the banks do, you are given top priority for any funds that may be added to the account.
Suppose, just enough funds are added to the account to cover a check for a smaller amount, the bank will not pay that check but will hold all the funds in the account until the full amount of your check is collected and you are paid. Any remaining funds will then be applied to subsequent checks. Many banks notify the account holder their account is being held for collection, but most frequently, renters don’t know until after the fact, and after subsequent checks have bounced.
For additional information on this and other renting articles please visit our web site at http://www.mrpmrentals.com/
Mountain Ridge Property Management
Your Property Management Source
Your first step should be in completing adequate tenant screening to ensure this is not a habit, but one of an error of kinds. Mistakes do happen. Secondly, add to your lease agreement a NSF fee for any returned bad checks and for all rents and fees from that time on must be paid with guaranteed funds cash or money order. We recommend around $25.00 NSF fee in addition, to late fees or other bank fees. The bank will then charge their NSF in addition to the cost of the check.
Okay, you have your bases covered now what?
First, contact the bank asking for the check to be run through again. Most banks run non-sufficient fund checks twice but it doesn’t hurt to ask for clarification. Then, contact the renter as this could be a simple error and payment is a phone call away. Also, collect this rent in cash and demand the NSF fee stated in your lease be included. Don’t back down, enforce your lease.
If the funds are still not in the account and your tenant isn’t cooperating, take the check to the bank of the renter. Present the check to the cashier asking how much they can cash the check for. Suppose the renter wrote the check for $600 but the account has only $400. You can request the $400 for payment of the check. Banks aren’t wild about doing this, but will if you insist on payment. There is a risk in doing this, as the renter may add more funds to the account and you will miss collecting them and receiving payment in this manner is perceived as payment in full for the check.
Another way to collect funds is called “Submitting a Collection Item”. Tellers may not be aware of this process so you will need to speak to the bank manager. There is a fee for this service usually around $15.00. The process is done like this. When you hold a check for collection, much like the process the banks do, you are given top priority for any funds that may be added to the account.
Suppose, just enough funds are added to the account to cover a check for a smaller amount, the bank will not pay that check but will hold all the funds in the account until the full amount of your check is collected and you are paid. Any remaining funds will then be applied to subsequent checks. Many banks notify the account holder their account is being held for collection, but most frequently, renters don’t know until after the fact, and after subsequent checks have bounced.
For additional information on this and other renting articles please visit our web site at http://www.mrpmrentals.com/
Mountain Ridge Property Management
Your Property Management Source
Tuesday, October 27, 2009
Get Renters Insurance
Obtaining renters insurance is a must if you are renting any type of a rental home or apartment. A homeowner has an insurance policy to protect their dwelling, the structure and interior, this does not cover your belongings or issues that may occur directly caused or affected by you.
Purchasing average renters insurance coverage is relatively inexpensive at around $300 per year. Be sure to read and understand your policy to ensure adequate rental home insurance coverage of your personal belongings, and renters liability insurance if someone falls or is injured or if there is damage done at the property that is determined to be your responsibility.
Check several companies for quotes on tenant's insurance and be sure to write down and photograph your belongings at the beginning of your policy. The insurance company should provide a list of basic personal items as a reminder so nothing is missed. Also, determine if your policy has current value or replacement value for lost, stolen or damaged items in your rental home.
Actual cash value is the actual cash value or replacement cost at the time. What an item may sale for at the time of loss. Replacement cost minus depreciation.
Replacement Cost is just as it sounds. What is the cost for replacement at the time of loss? What is the cost for replacement at the time of loss? The premiums for replacement cost are a bit higher than actual cash value.
Know and understand the difference and how each one of these policy types could affect you. The cost for each is virtually the same in price. Make sure you obtain the coverage that best suits you. Remember, the homeowner or property manager carry insurance but none have coverage for you or your personal belongings. You must purchase your own rental home insurance coverage.
For additional information on this and other renting articles please visit our web site at http://www.mrpmrentals.com/
Mountain Ridge Property Management
Your Property Management Source
Purchasing average renters insurance coverage is relatively inexpensive at around $300 per year. Be sure to read and understand your policy to ensure adequate rental home insurance coverage of your personal belongings, and renters liability insurance if someone falls or is injured or if there is damage done at the property that is determined to be your responsibility.
Check several companies for quotes on tenant's insurance and be sure to write down and photograph your belongings at the beginning of your policy. The insurance company should provide a list of basic personal items as a reminder so nothing is missed. Also, determine if your policy has current value or replacement value for lost, stolen or damaged items in your rental home.
Actual cash value is the actual cash value or replacement cost at the time. What an item may sale for at the time of loss. Replacement cost minus depreciation.
Replacement Cost is just as it sounds. What is the cost for replacement at the time of loss? What is the cost for replacement at the time of loss? The premiums for replacement cost are a bit higher than actual cash value.
Know and understand the difference and how each one of these policy types could affect you. The cost for each is virtually the same in price. Make sure you obtain the coverage that best suits you. Remember, the homeowner or property manager carry insurance but none have coverage for you or your personal belongings. You must purchase your own rental home insurance coverage.
For additional information on this and other renting articles please visit our web site at http://www.mrpmrentals.com/
Mountain Ridge Property Management
Your Property Management Source
Sunday, October 18, 2009
Mail Identity Theft
Finding your letters, boxes and bank statements scattered across the county is a reminder to keep a close eye on everything coming in and out of your mailbox.
Mail often contains personal information about you and your personal finances. Thieves snatch the mail and sort through it to get credit cards, social security numbers, bank statements, checks or other personal information for mail identity theft.
Tips to avoid becoming a victim of mail identity theft: Never place outgoing mail in your curbside mailbox. Use a Post Office box for collection.
Mail often contains personal information about you and your personal finances. Thieves snatch the mail and sort through it to get credit cards, social security numbers, bank statements, checks or other personal information for mail identity theft.
Tips to avoid becoming a victim of mail identity theft: Never place outgoing mail in your curbside mailbox. Use a Post Office box for collection.
- Pick-up your incoming mail as soon as possible after it is delivered. If that isn't possible, consider renting a post office box. Use a locking mail box that is bolted down Never mail money through the mail. If you are on vacation, call the U.S. Postal Service to request a vacation hold on your mail or visit the post office or mail service business filling out a hold mail card. Check your credit report regularly. Credit reports can be accessed three times per year free of charge.
Check with Experian Credit Services for a rapid response in obtaining your next report Ask that your checks be delivered to your bank instead of your home. Carefully review your financial statements on a regular basis for possible errors and/or identity fraud. Review these documents monthly if possible. Shred all documents containing personal information before throwing them away. Notify your local post office and anyone you do business with of an address change. If your mail has been taken, reporting theft to your local Police Department and notify your property manager. For additional information on this and other renting articles please visit our website at
Mountain Ridge Property Management
Your Management Source
Sunday, October 11, 2009
Getting Ready for a Smooth Move
1. Set aside items for sale
When packing sort out and get rid of items you don’t need. Tag and organize them for a garage sale. Keep things organized and be flexible on prices. You will sell these unnecessary items and pocket the cash.
2. Types of boxes
Purchase large and small boxes. Pack by weight with heavy items in small boxes and light items in large boxes, marking each box with the room it belongs in. All boxes will be close to the same weight when completed packing. Also, purchase the needed packing materials before packing begins. Wrapping paper, bubble wrap and various sized boxes and don’t forget tape.
3. Packing dishes
Purchase packing boxes meant for dishes. Plates should be packed by standing them vertically. Never pack plates in stacks; they will crack due to weight. Standing them vertically will keep all the weight off of the plates.
4. Paintings and photographs
Don’t pack items on a moving truck that are irreplaceable. Take them with you if at all possible. But if you do, remember to pack blankets or rugs around them for additional protection. Remember, to purchase renters insurance after relocating to your new home.
5. Learn your new address
Write your new address including city and state along with the new phone number on each box. Call the new property management company if you have forgotten this information. They should also provide utility company phone numbers making your move easier.
6. Keep the phone book
Keep your current phone book. You may need to make calls to friends, family or businesses in your old town. Also, keep your rental lease and all contact information for your current property management company. Put this information in a safe place along with all receipts for payments made for your relocation, deposits, and utility hookups. If there are questions, you will have that information in an easy to locate place.
7. Life’s necessities
Upon arrival at your new rental home you will have only what has been packed in your moving truck. Unless of course, you are prepared with the necessities. Items for the kitchen and bathroom. Pack the items you will need in the kitchen such as coffee, paper towels, can opener, paper plates and cups. Also, what essentials you will need in the bathroom. Toilet paper, shampoo, deodorant.
8. Sleeping is the best
If you have your essentials unpacked then it’s off to make a place to sleep. You need sheets, blankets and towels. These items can be packed in your car and easily unpacked upon arrival.
9. The refrigerator
After cleaning the refrigerator, place a sock full of coffee, baking soda or charcoal, inside to keep the interior smelling fresh. Remember, to do this whenever the fridge is closed and the fan not running.
10. Light bulbs
Remove all light bulbs before packing the lamps. Store the bulbs in boxes that are made for light bulbs to prevent damage and or breakage.
11. Computer
Let the computer sit in the house. The computer needs to warm up to room temperature before plugging in.
Enjoy your new town and rental home.
For additional information on this and other renting articles please visit our website at http://www.mrpmrentals.com/.
When packing sort out and get rid of items you don’t need. Tag and organize them for a garage sale. Keep things organized and be flexible on prices. You will sell these unnecessary items and pocket the cash.
2. Types of boxes
Purchase large and small boxes. Pack by weight with heavy items in small boxes and light items in large boxes, marking each box with the room it belongs in. All boxes will be close to the same weight when completed packing. Also, purchase the needed packing materials before packing begins. Wrapping paper, bubble wrap and various sized boxes and don’t forget tape.
3. Packing dishes
Purchase packing boxes meant for dishes. Plates should be packed by standing them vertically. Never pack plates in stacks; they will crack due to weight. Standing them vertically will keep all the weight off of the plates.
4. Paintings and photographs
Don’t pack items on a moving truck that are irreplaceable. Take them with you if at all possible. But if you do, remember to pack blankets or rugs around them for additional protection. Remember, to purchase renters insurance after relocating to your new home.
5. Learn your new address
Write your new address including city and state along with the new phone number on each box. Call the new property management company if you have forgotten this information. They should also provide utility company phone numbers making your move easier.
6. Keep the phone book
Keep your current phone book. You may need to make calls to friends, family or businesses in your old town. Also, keep your rental lease and all contact information for your current property management company. Put this information in a safe place along with all receipts for payments made for your relocation, deposits, and utility hookups. If there are questions, you will have that information in an easy to locate place.
7. Life’s necessities
Upon arrival at your new rental home you will have only what has been packed in your moving truck. Unless of course, you are prepared with the necessities. Items for the kitchen and bathroom. Pack the items you will need in the kitchen such as coffee, paper towels, can opener, paper plates and cups. Also, what essentials you will need in the bathroom. Toilet paper, shampoo, deodorant.
8. Sleeping is the best
If you have your essentials unpacked then it’s off to make a place to sleep. You need sheets, blankets and towels. These items can be packed in your car and easily unpacked upon arrival.
9. The refrigerator
After cleaning the refrigerator, place a sock full of coffee, baking soda or charcoal, inside to keep the interior smelling fresh. Remember, to do this whenever the fridge is closed and the fan not running.
10. Light bulbs
Remove all light bulbs before packing the lamps. Store the bulbs in boxes that are made for light bulbs to prevent damage and or breakage.
11. Computer
Let the computer sit in the house. The computer needs to warm up to room temperature before plugging in.
Enjoy your new town and rental home.
For additional information on this and other renting articles please visit our website at http://www.mrpmrentals.com/.
Sunday, October 4, 2009
Advertising Your Rental on the Internet
Today’s home rental websites are set up to not only provide descriptive textual advertisements but also a visual ad with a variety of color photos of the rental property. Photos, virtual home tours, mapping with driving directions, email, text messaging and phone for rapid connection to the owner or property manager are common amenities used in marketing rental properties. With this type of on-line advertising the renter has a clear picture of the property including the requirements for renting prior to contacting the landlord or property management company. These types of advertisements connect more qualified tenants to a property than any other type of advertising or marketing medium available today.
Many sites provide landlords or property managers the option of uploading their rental application along with their rental advertisement. Allowing potential renters to fill out and send it directly to the property manager a completed rental application. Allowing for a rapid connection between the renter and landlord. this results in more signed leases at a higher rental rate. Check your local rental market for home rental advertising websites. Rental owners and property management companies are marketing their vacancies on the websites that advertise in local and state markets. Posting rental ads on local or state websites puts your advertisement in the location of your rental property and where most renters reside or perhaps relocate to. Tenants moving to your location or across the country are more likely to search local or state rental markets first since they have already chosen their state and city. Searching a national site takes more time and provides far less appeal to many serious renters searching in today’s rental marketplace.
Check the internet for local rental websites and review the information required to develop a complete advertisement. This type of marketing allows more information to be provided than a local newspaper can allow. For the first time, write down the property details along with taking several photos. Developing additional information and photos allows you to make as many changes to your marketing details without incurring additional cost.
For additional information on this and other renting articles please visit our website at http://www.mrpmrentals.com/
Mountain Ridge Property Management
Your Boise Home Rental Source
Many sites provide landlords or property managers the option of uploading their rental application along with their rental advertisement. Allowing potential renters to fill out and send it directly to the property manager a completed rental application. Allowing for a rapid connection between the renter and landlord. this results in more signed leases at a higher rental rate. Check your local rental market for home rental advertising websites. Rental owners and property management companies are marketing their vacancies on the websites that advertise in local and state markets. Posting rental ads on local or state websites puts your advertisement in the location of your rental property and where most renters reside or perhaps relocate to. Tenants moving to your location or across the country are more likely to search local or state rental markets first since they have already chosen their state and city. Searching a national site takes more time and provides far less appeal to many serious renters searching in today’s rental marketplace.
Check the internet for local rental websites and review the information required to develop a complete advertisement. This type of marketing allows more information to be provided than a local newspaper can allow. For the first time, write down the property details along with taking several photos. Developing additional information and photos allows you to make as many changes to your marketing details without incurring additional cost.
For additional information on this and other renting articles please visit our website at http://www.mrpmrentals.com/
Mountain Ridge Property Management
Your Boise Home Rental Source
Sunday, September 27, 2009
Energy Saving Tips for Tenants and Landlords
2. Computers go to sleep when not in use: Settings can be adjusted to automatically go into sleep mode when not in use after 10-15 minutes. Noticeably reducing energy bills.
3. Take advantage of the sun: Open window blind shades with Southern and Eastern exposure during the day. Closing the window coverings just before the temperature begins to drop outside. This allows the sun to provide heat without the energy costs.
4. Purchase an energy efficient heating system: Look for Energy Star Models for replacement of a residential heating system; these are the most economical energy cost saving systems on the market. This is typically the responsibility of the property manager or landlord.
5. Heat up the house: The house won’t warm up any faster if you raise the thermostat setting. Home heating systems run at the same rate regardless of the temperature setting.
6. Maintain the heating system: Residential gas furnaces will run more efficiently and will last longer if the heating system is serviced annually. Cleaning or replacing the filters monthly is the responsibility of the tenant. Annual servicing is typically the responsibility of the property manager or landlord.
7. Use ceiling fans: The use of ceiling fans increase air movement and comfort levels which saves money. Changing the ceiling fan direction to counter-clockwise in the winter will push the warm air down into to the living space. Shut off the ceiling fans with lights during daylight hours also saves in utility bills.
8. Keep the doors closed: Shut the doors after opening to restrict the cold air from entering saves on utility bills. This also applies in the summer with keeping the heat outside.
9. Rearrange your rooms: Exterior walls feel colder and residences with older windows can be drafty. Rearranging your furniture by placing seating (couches, high back chairs etc.) near interior walls – that way you won’t “feel” the cold as much. Close closets and cabinets especially ones that are on exterior walls. These steps will not only make the home more comfortable but also energy saving. 10. Caulking and weather stripping: A major dollar saving task is window caulking, weather stripping, interior door sweeps and garage door sweeps. These are low cost, easy to install and will lower utility bills by preventing drafts. This is typically the responsibility of the property manager or landlord.
11. High efficiency windows: Replace current windows with vinyl windows under the Energy Star brand. This will reduce heating and cooling energy costs up to 15%. Replacing a window is relatively simple and the window replacement cost will be recouped in utility bill savings in a few short months. This is typically the responsibility of the property manager or landlord.
12. Don’t let the heat go up the chimney: Close the chimney damper. Closing the damper will stop the heat from being pulled out of the room and up the chimney. Keep the fireplace chimney clean and closed when not in use.
13. Turn off the furnace pilot light: During the summer months when the furnace is not in use the cost to keep the pilot light lit runs from $2.50 $4.50 per month. Shut off the pilot light when not being used.
14. Install a programmable thermostat: Allows the thermostat to be lowered when not at home or at night. You can also preset the thermostat to come on prior to returning home in the evening. Returning to a preset daytime setting when you are home for any length of time. This is typically the responsibility of the property manager or landlord.
15. Proper Insulation: Ensure the walls and attic are properly insulated this will provide maximum savings and energy efficiency for many years. Checking for sales or specials on your purchases will also lower your costs. This is typically the responsibility of the property manager or landlord.
16. Use appliances efficiently: Do full loads in the clothes washer and dishwasher. Use cold water settings for clothing when possible. thereby reducing energy usage by 75%. Try to use these appliances late at night for maximum water pressure.
For additional information on this and other renting articles please visit our website at http://www.mrpmrentals.com/
Sunday, September 20, 2009
Cleaning and Repairs Charged by the Landlord
There is a notable difference in a security deposit and cleaning deposit; what the funds collected can be used for or applied to when renting or leasing a rental property. First, as a landlord you should be aware of your states Landlord Tenant Act and its requirements when collecting a deposit and the rules for refunding all or part of this highly disputed deposit. Having a clear understanding of the rules will alleviate a landlord tenant dispute that will inevitably arise with your tenant.In general, a cleaning deposit is just what it sounds like; cleaning of the property. This deposit can be applied only to the cleaning of the property. No more - no less. A security deposit, on the other hand, can be applied to any and all defects found in the property such as cleaning, damages, repairs, rent, fees, etc. One stipulation in this law is the items the security deposit is being applied to should be stated in the lease agreement and both parties must agree. Upon vacating it is within the tenant rights to receive a written notice from the landlord stating the disbursement or refund of these funds.
Now take a step back to the beginning of the leasing process. Your property is ready to be rented and a suitable candidate has been approved. What is the first thing you should do when getting your lease agreement together for the tenant to sign? A move in condition form; this is one of the most important forms you will use other than the lease itself. If you don’t use a printed form have a detailed note signed and dated with your tenant. If you neglect this step then how can you refute cleaning or damages when the tenant vacates your property? You could very well lose if your case ends up in court. Every landlord should use some type of move in and move out condition form. A move in condition form should clearly detail the condition of the property, both the good condition and details of a defect. Each extreme is noteworthy and could save you hundreds if not thousands of dollars in legal fees and repairs. Know your states leasing laws and the stipulations that apply. Stating in the lease the collected funds are a security deposit is more flexible for use as a landlord and holds the tenant responsible for the entire property unlike the cleaning deposit which covers only cleaning.
For additional information on this and other renting articles please visit our website at www.mrpmrentals.com
Mountain Ridge Property Management
Your Property Management Source
Monday, September 14, 2009
Landlord Services
Being a landlord requires that many services be performed on a regular basis. Among these duties is to locate a suitable tenant, fill out the required paperwork and process that paperwork to ensure the best tenant has been chosen. Landlords and Property Manager’s alike are also required to inspect and maintain each property and be responsible for its general maintenance and repair.
Landlords and Leasing Property Managers must have a complete set of state specific legal paperwork. From a detailed lease, rental application, tenant credit screening authorization, and any and all paperwork resulting from tenant screening or background checks, all to ensure every step of the renting process is legally covered for your protection whether it is a property owner or property manager. To be sure the leasing process is completed in a consistent manner; a written policy should be completed prior to beginning the renting process. Doing so will aid in a standard process being done but will also remove any doubts for a discrimination suit.
Every property must be maintained either by maintenance personal of the property management company or by the owners chosen maintenance personal. Keeping a property well maintained helps to rent the property faster and at a higher rent. When the time comes to sell the maintenance has already been completed and will command a price at the top of the market.
During the rental property maintenance process every property manager or landlord should be in the habit of doing an inspection. Check smoke detectors, flooring, appliances, yard care and exterior inspection for the tenants care, as well as, maintenance. This habit will ensure the tenant will be held responsible for repairs and damages that may occur during tenancy and lower the continued damage to the property. Be sure to properly fill out, at the beginning of each new tenancy, a move in condition form detailing the condition of the property. Filled out in detail, this form will clarify the responsibility for each repair in the event any damage occurs.
For many property owners the job of being a property manager is an overwhelming task. If this is your case, don’t hesitate to contact local management companies and interview for your property manager.
For additional information on this and other renting articles please visit our website at www.mrpmrentals.com.
Mountain Ridge Property Management
Your Property Management Source
Landlords and Leasing Property Managers must have a complete set of state specific legal paperwork. From a detailed lease, rental application, tenant credit screening authorization, and any and all paperwork resulting from tenant screening or background checks, all to ensure every step of the renting process is legally covered for your protection whether it is a property owner or property manager. To be sure the leasing process is completed in a consistent manner; a written policy should be completed prior to beginning the renting process. Doing so will aid in a standard process being done but will also remove any doubts for a discrimination suit.
Every property must be maintained either by maintenance personal of the property management company or by the owners chosen maintenance personal. Keeping a property well maintained helps to rent the property faster and at a higher rent. When the time comes to sell the maintenance has already been completed and will command a price at the top of the market.
During the rental property maintenance process every property manager or landlord should be in the habit of doing an inspection. Check smoke detectors, flooring, appliances, yard care and exterior inspection for the tenants care, as well as, maintenance. This habit will ensure the tenant will be held responsible for repairs and damages that may occur during tenancy and lower the continued damage to the property. Be sure to properly fill out, at the beginning of each new tenancy, a move in condition form detailing the condition of the property. Filled out in detail, this form will clarify the responsibility for each repair in the event any damage occurs.
For many property owners the job of being a property manager is an overwhelming task. If this is your case, don’t hesitate to contact local management companies and interview for your property manager.
For additional information on this and other renting articles please visit our website at www.mrpmrentals.com.
Mountain Ridge Property Management
Your Property Management Source
Thursday, September 10, 2009
Honesty is the Best Policy
Saying you are married when you are not will cause problems when applying for a rental home.
If you are applying to rent a place and say or write on your application that you and your “roommate” are married and in reality you are not, this could be a problem.
With any type of tenant screening it will become quite apparent you are not married. Along with signing the rental application verifying your statement is true this item alone are grounds to deny your application.
There are property owners and managers that will not rent to "roommates" and will only rent to married couples.
The solution is to be truthful and upfront about your living arrangements very few landlords or property managers will rent to someone that has lied.
For additional information on this and other renting articles please visit our web site at www.mrpmrentals.com
Mountain Ridge Property Management
Your Rental Management Source
Leasing Service or Tenant Finder
Frequently, landlords and rental owners will hire a property management company to locate and place a new tenant in their rental for a service fee. This service is referred to by various terms typically called a Leasing Service, Tenant Finder, One-Time Leasing or One Time Rental Service.
Simply put, this is when the property manager or owner hires a third party to locate, screen and place a new tenant in their rental property. At this point, the leasing service turns over all funds collected and the new lease agreement to the property manager or owner for the day to day management duties. The management service is paid a fee and has no further contact with the tenant.
For additional information on this and other renting articles please visit our web site at www.mrpmrentals.com
Locating a Property Management Company
It is recommended that you interview at least two or three property management companies before deciding on the company who best fits your property and your needs.
Use the following guidelines. We believe a company should offer all of these services and at no additional cost to you.
1) High tenant retention. It isn’t the number of properties a company manages; its how do they manage the properties they have.
2) Attentive customer service. Do they pay attention to your needs?
3) Good lines of communication with owners. Are they easy to talk to and do they clearly understand what you are asking and wanting from them.
4) An attention to keeping costs low. Are they keeping costs low and within an acceptable range? Are they spending money on items that maintain the property and or increase its value?
5) Preventative maintenance. Do they do preventative maintenance? What does it include and how often is it done? Is there an additional charge for this service or is it included in the service provided by the property management company.
6) Inspection of units and property on a routine basis. How often and exactly what process is done and how often.
7) Good contractor supervision: Are they with the repairman or left alone in your rental.
8) What is the final cost to you for repairs at your property? Does the property management company charge you a fee for processing the paperwork for a repair?
Be sure every item that is important to you is included in your contract.
For additional information on this and other renting articles please visit our web site at http://www.mrpmrentals.com/
Obtaining Renters Insurance
LIFE HAPPENS.....BE PREPARED
It is strongly encouraged to purchase Renters Insurance.
A renters policy will insure "your" belongings. A landlord or owners insurance policy will not insure "your" belongings.
The average renters insurance policy covers against fire and theft up to the face value of the policy.
The amount of the deductible varies, but the annual premium is typically very inexpensive.
Be safe and purchase insurance for your belongings.
It is strongly encouraged to purchase Renters Insurance.
A renters policy will insure "your" belongings. A landlord or owners insurance policy will not insure "your" belongings.
The average renters insurance policy covers against fire and theft up to the face value of the policy.
The amount of the deductible varies, but the annual premium is typically very inexpensive.
Be safe and purchase insurance for your belongings.
For additional information on this and other renting articles please visit our web site at www.mrpmrentals.com
The Check Is In The Mail........
Letters, boxes and bank statements found scattered in areas of the county recently is a reminder to keep a close eye on everything coming in and out of your mailbox.
Mail often contains personal information about your personal finances. Thieves snatch the mail and sort through it to get credit cards, social security numbers, bank statements, checks or other personal information that will allow them to steal your identity.
Tips to avoid becoming a victim of mail theft:• Never place outgoing mail in your curbside mailbox. Use a Postal Service collection box instead.
• Pick-up your incoming mail as soon as possible after it is delivered. If that isn't possible, consider renting a P.O. box.
• Don't send cash in the mail
• If you are on vacation, call the U.S. Postal Service to request a vacation hold on your mail: 1-800-275-8777
• Check your credit reports regularly for errors
• Have your checks delivered to your bank instead of your home.
• Carefully review your financial statements on a regular basis for possible errors and/or fraud.
• Shred sensitive documents or "sanitize" them before throwing them away.
• Immediately notify the post office and anyone with whom you do business of any address changes.
If your mail has been taken, or if you have any information about mail thefts, please call Ada County Sheriff's office non-emergency dispatch at 377-6790.
Posted with permission of the Ada County Sheriff’s Office, Boise Idaho
It is policy for many Property Management Companies to only accept rent payments in a check or money order and to be mailed to their mailing address or be hand delivered to them personally. Most have no exceptions to this policy.
We do not accept credit cards and request that you do not send cash.
If you are a victim of mail theft please contact your local Sheriff's Department and your property management company immediately.
Mail often contains personal information about your personal finances. Thieves snatch the mail and sort through it to get credit cards, social security numbers, bank statements, checks or other personal information that will allow them to steal your identity.
Tips to avoid becoming a victim of mail theft:• Never place outgoing mail in your curbside mailbox. Use a Postal Service collection box instead.
• Pick-up your incoming mail as soon as possible after it is delivered. If that isn't possible, consider renting a P.O. box.
• Don't send cash in the mail
• If you are on vacation, call the U.S. Postal Service to request a vacation hold on your mail: 1-800-275-8777
• Check your credit reports regularly for errors
• Have your checks delivered to your bank instead of your home.
• Carefully review your financial statements on a regular basis for possible errors and/or fraud.
• Shred sensitive documents or "sanitize" them before throwing them away.
• Immediately notify the post office and anyone with whom you do business of any address changes.
If your mail has been taken, or if you have any information about mail thefts, please call Ada County Sheriff's office non-emergency dispatch at 377-6790.
Posted with permission of the Ada County Sheriff’s Office, Boise Idaho
It is policy for many Property Management Companies to only accept rent payments in a check or money order and to be mailed to their mailing address or be hand delivered to them personally. Most have no exceptions to this policy.
We do not accept credit cards and request that you do not send cash.
If you are a victim of mail theft please contact your local Sheriff's Department and your property management company immediately.
For additional information on this and other renting articles please visit our web site at http://www.mrpmrentals.com/renting-articles.asp
The Professional Deadbeat
A Realtor friend was recently involved in the sale of a duplex. The owner of this rental property was also involved in tenant eviction proceedings against one of the tenants. The tenant had been warned various times for violations of the lease agreement. He had unauthorized occupants living at the property and constantly played loud music, the occupants and guests parked their cars on the lawn and were trashing the duplex. To top it off no one living at this property had paid rent. The owner won the eviction and sold the property.
Interestingly, a few months later my Realtor friend was requested to preview a rental property across town that the owner wanted to sell. In the conversation about the property the owner was questioned why he wanted to sell such a great rental property. He responded he was tired of dealing with the issues that arise with having tenants and rental property. This is a pretty standard reply Realtors receive when previewing a rental property. But in this case, the reason was going to become more apparent. After inspecting the property more closely it was discovered the renter from the first rental property was occupying one of this landlords apartments.
In a short time period, this deadbeat tenant had trashed this landlord's rental and was also delinquent in the payment of rent. This same deadbeat renter had made his way into both of these properties and had caused extensive damages in addition to costing the owner several months rent.
These destructive deadbeat tenants move from one rental property to the next moving from one unsuspecting landlord to the next each falling victim to their deadbeat behaviors over and over again. The only way a rental owner can protect themselves and their rental property is to do the homework required of every landlord no matter where they live, how large or small the community.
This cycle of abuse and financial damage can be prevented with a landlord's upfront due diligent tenant screening of each potential renter applying to their property. The cost of tenant screening is cost effective and minimal especially in comparison to the cost of lost rent and damages. Charging the rental applicant the fees charged to complete tenant screening will also help to discourage the deadbeat renters from attacking your rental property.
Follow these basic rules:
1. Require each adult tenant to fill out your rental application. Completely.
2. Require each adult tenant pay an application fee which totally covers the expense of tenant screening.
3. Require each adult tenant provide you with a clear photocopy of a current drivers license.
4. Never allow anyone to move into the property until each applicant has been approved to occupy the property.
5. Require each adult tenant (roommates) to qualify to rent your property individually. If one tenant moves, the remaining tenant has the ability to pay all of the rent and expenses.
6. Be aware of and understand your states Landlord Tenant Laws.
Set your standard requirements for renting any of your rental properties. Credit limits, employment income, legal issues, smoking, animals etc. Set your policy standards and require your tenants to uphold those standards with no exceptions.
For additional information on this and other renting articles please visit our web site at www.mrpmrentals.com
Interestingly, a few months later my Realtor friend was requested to preview a rental property across town that the owner wanted to sell. In the conversation about the property the owner was questioned why he wanted to sell such a great rental property. He responded he was tired of dealing with the issues that arise with having tenants and rental property. This is a pretty standard reply Realtors receive when previewing a rental property. But in this case, the reason was going to become more apparent. After inspecting the property more closely it was discovered the renter from the first rental property was occupying one of this landlords apartments.
In a short time period, this deadbeat tenant had trashed this landlord's rental and was also delinquent in the payment of rent. This same deadbeat renter had made his way into both of these properties and had caused extensive damages in addition to costing the owner several months rent.
These destructive deadbeat tenants move from one rental property to the next moving from one unsuspecting landlord to the next each falling victim to their deadbeat behaviors over and over again. The only way a rental owner can protect themselves and their rental property is to do the homework required of every landlord no matter where they live, how large or small the community.
This cycle of abuse and financial damage can be prevented with a landlord's upfront due diligent tenant screening of each potential renter applying to their property. The cost of tenant screening is cost effective and minimal especially in comparison to the cost of lost rent and damages. Charging the rental applicant the fees charged to complete tenant screening will also help to discourage the deadbeat renters from attacking your rental property.
Follow these basic rules:
1. Require each adult tenant to fill out your rental application. Completely.
2. Require each adult tenant pay an application fee which totally covers the expense of tenant screening.
3. Require each adult tenant provide you with a clear photocopy of a current drivers license.
4. Never allow anyone to move into the property until each applicant has been approved to occupy the property.
5. Require each adult tenant (roommates) to qualify to rent your property individually. If one tenant moves, the remaining tenant has the ability to pay all of the rent and expenses.
6. Be aware of and understand your states Landlord Tenant Laws.
Set your standard requirements for renting any of your rental properties. Credit limits, employment income, legal issues, smoking, animals etc. Set your policy standards and require your tenants to uphold those standards with no exceptions.
For additional information on this and other renting articles please visit our web site at www.mrpmrentals.com
Tips on How to Prevent Burglary
1. Use deadbolt locks on doors.
Weak locks are easily forced open. Use deadbolt locks with a one inch throw and a reinforced strike plate with three inch screws. Lock the doors whenever you leave, even if you will be gone only a short time.
2. Keep garage doors closed and locked.
Don’t rely on the electric garage door opener as your only security measure. Also, when you are pulling out of your garage, take a few seconds to watch the door close completely.
3. Secure sliding doors.
Put a metal or solid wood rod on the inside track to help prevent burglars from forcing the door open. Install screws in the track above the sliding door frame to help prevent the door from being lifted out of the track.
4. Lock windows.
Using window locks is an easy way to keep intruders out. Windows are left unlocked and open more often than doors. An open window, visible from the street or alley, may be the reason your home is chosen by a burglar.
5. Install solid doors.
Outside doors should be metal or solid hardwood and at least 1 3/4 inches thick. Frames should also be of strong material and each door must fit its frame well, with no gaps. Make sure your door hinges are on the inside. Avoid having glass sidelight panels next to the door.
6. Clean up your yard.
Trim or remove big or overgrown bushes near your house. Tall thick shrubs can hide a burglar. Put tools away so that burglars won’t use your own ladders, hammers, screwdrivers or pliers against you.
7. Fences.
Solid fences can keep burglars from being seen entering your house. Consider picket fences, chain link, or other materials that don’t compromise visibility.
8. Use outdoor lighting.
Keep the outside of your home well lit. Place a light over every door at minimum.
9. Keep track of your property.
Keep a detailed list of your valuables, and/or videotape or photograph them. Consider marking your valuables with an engraver. Don’t keep valuables in plain sight, or in the main bedroom.
10. Work together with your neighbors.
Get to know your neighbors on each side of your home and directly across the street. When you are going to be away, tell trusted neighbors and ask them to watch your property. Call police if you notice anything suspicious. If your neighborhood doesn’t have a neighborhood watch program, start one.
Reproduced with permission of the Ada County Sheriff in Boise, Idaho.
For additional information on this and other renting articles please visit our web site at www.mrpmrentals.com
Weak locks are easily forced open. Use deadbolt locks with a one inch throw and a reinforced strike plate with three inch screws. Lock the doors whenever you leave, even if you will be gone only a short time.
Don’t rely on the electric garage door opener as your only security measure. Also, when you are pulling out of your garage, take a few seconds to watch the door close completely.
3. Secure sliding doors.
Put a metal or solid wood rod on the inside track to help prevent burglars from forcing the door open. Install screws in the track above the sliding door frame to help prevent the door from being lifted out of the track.
4. Lock windows.
Using window locks is an easy way to keep intruders out. Windows are left unlocked and open more often than doors. An open window, visible from the street or alley, may be the reason your home is chosen by a burglar.
5. Install solid doors.
Outside doors should be metal or solid hardwood and at least 1 3/4 inches thick. Frames should also be of strong material and each door must fit its frame well, with no gaps. Make sure your door hinges are on the inside. Avoid having glass sidelight panels next to the door.
6. Clean up your yard.
Trim or remove big or overgrown bushes near your house. Tall thick shrubs can hide a burglar. Put tools away so that burglars won’t use your own ladders, hammers, screwdrivers or pliers against you.
7. Fences.
Solid fences can keep burglars from being seen entering your house. Consider picket fences, chain link, or other materials that don’t compromise visibility.
8. Use outdoor lighting.
Keep the outside of your home well lit. Place a light over every door at minimum.
9. Keep track of your property.
Keep a detailed list of your valuables, and/or videotape or photograph them. Consider marking your valuables with an engraver. Don’t keep valuables in plain sight, or in the main bedroom.
10. Work together with your neighbors.
Get to know your neighbors on each side of your home and directly across the street. When you are going to be away, tell trusted neighbors and ask them to watch your property. Call police if you notice anything suspicious. If your neighborhood doesn’t have a neighborhood watch program, start one.
Reproduced with permission of the Ada County Sheriff in Boise, Idaho.
For additional information on this and other renting articles please visit our web site at www.mrpmrentals.com
Tuesday, September 8, 2009
What is Regarded as a Pet When Renting?
If it isn’t human…..it’s a pet.
If your lease states “no pets”, that means, no cats, no dogs, no birds, no goldfish, no critter in a cage, box, or closet, if it crawls, flies walks on more than 2 legs or has a tail, ........it’s a pet.
Very simple …No Pets, mean no pets, period.
For additional information on this and other renting articles please visit our web site at www.mrpmrentals.com
If your lease states “no pets”, that means, no cats, no dogs, no birds, no goldfish, no critter in a cage, box, or closet, if it crawls, flies walks on more than 2 legs or has a tail, ........it’s a pet.
Very simple …No Pets, mean no pets, period.
For additional information on this and other renting articles please visit our web site at www.mrpmrentals.com
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