Words n Terms of the Week.....Property Management

Property Management: the operation of a property as a business, including rental property management, rent collection and home maintenance repairs.

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SMOKE DETECTORS

Smoke detectors are great security feature and are a required safety measure for all rental properties. A smoke detector should be installed in each bedroom, hallway and kitchen. Whether the smoke detector is battery operated or hard wired they are a security requirement and must be well maintained to ensure adequate safety is achieved. Property managers are to always check and recheck every smoke detector in each of their properties prior to leasing. Mark the battery with its date of installation, as well as, maintain a record of smoke detector checks. When leasing a property check the smoke detectors function again. Notify new tenants of their maintenance and importance and in spite of everyone’s efforts, never rely exclusively on a smoke detector to alert you of smoke or a fire; always have an alternate plan for escape in the event of an emergency.
For additional information on this and other renting articles, please visit our web site at http://www.mrpmrentals.com/
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NOISE MONITORING

Disturbing noises such as slamming of doors or objects being dropped on the floor do carry from one rental unit to another. Everyone must be courteous and think of those who live around, beside, above, and underneath.

Remember, its city ordinance but is also stated in your lease called “Quiet Hours” which begin at 10 pm thru 7 am everyday of the week. If you are a victim of a loud neighbor, you should attempt to work things out with them. If this doesn’t work, then put your complaint in writing in a police report. After a noise complaint is filed with the police and the noise continues, the property manager can then become involved resolve the problem with an eviction being the ultimate and final result.

Property managers must always keep detailed notes on all complaints for any future legal proceedings or tenant complaints and conflicts.  The easiest thing to do is to be courteous and respectful of others.

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

View us on Merchant Circle @
http://www.merchantcircle.com/business/Mountain.Ridge.Property.Management.208-322-4228?utm_medium=phone&utm_source=code

For a business review visit us @ http://www.linkedin.com/in/mrpmrentals

Chimney and Furnace Fires

While most property management companies defer this type of maintenance to the owner or ignore it all together, we believe this to be a safety requirement and schedule service and maintenance annually.

• While fire presents a year-round risk, chimney and furnace fires are the causes of fires most frequently in the winter months.

• The residential structure fire problem represented approximately 81 percent of all fire deaths and 79 percent of the injuries to civilians in 2006.

• Between 1997 and 2006, an average of 3,090 civilians lost their lives and another 15,340 were injured annually as the result of residential structure fires, according to the Consumer Product Safety Commission.

• 43 percent of home fire deaths occur in homes without smoke alarms.

Approximately 25,000 residential fires begin in a fireplace or chimney every year.  Why? Over time, a layer of unburned creosote (a carbon-based residue on the walls of the chimney) and can eventually catch fire. The solution is to have a chimneysweep clean and inspect your chimney annually.

An annual inspection of the furnace and broiler is just as important for general maintenance and as a safety check. Never store flammable items near the furnace, broiler, fireplace, woodstove or water heater and share this information with your tenants. Many are unaware of these hazards and the more information is shared, the safer every rental home or apartment will be. Obviously, a better relationship is developed with your tenant.

Request your property management company schedule a professional inspection each year of all fuel-burning home heating systems, including furnaces, boilers, fireplaces, wood stoves, water heaters, chimneys, flues and vents. Many furnace and chimney sweeps will schedule a maintenance review on an annual basis, offering a discount for advanced scheduling. This service is scheduled with the property manager then with the tenant. During this inspection, each smoke detector should be checked and repairs or replacement (which should be done every 10 years) made at that time.

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

View us on Merchant Circle @ http://www.merchantcircle.com/business/Mountain.Ridge.Property.Management.208-322-4228?utm_medium=phone&utm_source=code

For a business review visit us @ http://www.linkedin.com/in/mrpmrentals

Words N Terms

Visit http://www.wordsnterms.com/ your leading free online Dictionary and Thesaurus made up of an extensive database of words, terms and phrases used in Real Estate contracts and rental home and apartment leases. Supplying trustworthy, extensive definitions; Words N Terms is beneficial to every tenant, landlord, Property Manager or Real Estate Agent.  Words N Terms Dictionary and Thesaurus is updated regularly with word definitions written in simple language to aid in strengthening your knowledge and understanding of the Real Estate business.

For any questions on real estate terms go to http://www.wordsnterms.com/

For additional information on this and other renting articles, please visit our web site at http://www.mrpmrentals.com/

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FICO isn't your only score

Checking your credit score can be done at any one of the three credit bureaus Experian, Equifax or Trans Union. Each bureaus office FICO credit scores using the formula developed by Fair Isaac but the difference is each give their score a different name. Equifax is known as the Beacon, TransUnion; Empirica and Experian go by Experian/Fair Isaac Risk Model.

To complicate matters further each bureau will give a different score due to the bureaus not sharing data. One credit agency may use more account information than another, using details such as the type of account, payment history or credit limits and balances due. This reflects a different score.

Due to such differences, it is useful to obtain reports from each bureau. Most loan companies will obtain all three but work from the average number. It will pay off to monitor your credit report throughout the year making corrections when necessary. Obtain new credit sparingly.

For additional information on this and other renting articles, please visit our web site at http://www.mrpmrentals.com/


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