How to improve your credit score

1. Don't apply for lots of credit cards. A credit inquiry can lower your credit score by five points.
2. Requesting your personal report won't hurt your score.
3. Avoid applying for credit cards from companies that don't set a spending limit or won't report your limit to the credit bureaus.
4. Don't cancel credit cards. Keep accounts open to ensure a longer credit history. If you can’t afford the monthly payment pay it off and stop using the credit card.
5. Limit the percentage of available credit you use to no more than 30% of your net monthly income. Paying off the amount each month will still reflect the amount charged and excessive spending will hurt your credit score.
6. If you don't have a credit history, start one by obtaining a secured credit card and managing it responsibly.

For additional information on this and other renting articles, please visit our web site at www.mrpmrentals.com.
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Making Extra Income

You are looking to remodel your current home or property to create additional income. Generally, zoning authorities and subdivision stipulations are set up to be very cautious when reviewing such additions to a property.
Here are a few things to consider when seeking community approval.
1. How will the additional traffic affect the neighborhood as a whole and more importantly, on the block of our location?
2. Where will the parking be located and how will it affect my immediate neighbors and the appearance of the street?
3. If the addition is to my home how will it affect my residence and street view?
4. If the addition is a separate apartment or bungalow how will a new residence affect my current residence?
5. The cost of the completed project versus the potential rental income. How do they balance? Is this project cost effective?
6. How will the results of such a project affect the property for resale?
When reviewing these options for a remodel, it will become more apparent what the effect of such a project will have for you and your neighborhood. Be sure to evaluate the pros and cons prior to jumping into a remodel project. Consult a qualified Realtor and property manager, as well as, a real estate attorney with any questions and their advice will assist in all of your decisions for becoming a landlord.

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

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Welcome Packets

Provide your tenant with information of what you expect from them is the best way to eliminate future problems. A tenant welcome packet establishes this relationship in writing making your rules clear and concise.

Include the Welcome Packet with the Lease Agreement:

1. A welcome letter establishing a professional, positive working relationship.
2. Copy of the lease agreement including all addendums and inspection forms.
3. A short concise list of rules. Develop a list of your rules that you can and will enforce.
4. An up-to-date list of area phone numbers for utility companies, phone, mail, hospitals, fire departments, and local police department.
5. Be sure to include a copy of the required Lead Paint Pamphlet with every lease on properties built on or before 1978. Be sure this item is included in your lease agreement and the tenant signs in acceptance.
6. Provide basic information about renters insurance; this item should be stated in the lease agreement and tenants should be required to acknowledge such notification.

Allow sufficient time for signing the lease and review of all paperwork including the welcome packet. Answer any questions in a pleasant yet professional manner. Following these steps will establish a stronger relationship with your tenants and a clear understanding of your expectations.

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

Mountain Ridge Property Management - Your Rental Home Resource

Why Prohibit Smoking?

Allowing smoking at your rental property can be a cause of complaints by your non-smoking tenants. Drifting smoke to, or inside of, a non smoking unit or the simple spread of the smell to a non smoking unit can be a source of problems. This can also cause a renter to require you, as the owner or manager, to move them to a smoke free unit at your expense. If the tenant is disabled or has health issues of any kind being subjected to second hand smoke can cause a habitability issue. Reading up on the Fair Housing Guidelines learning your states habitability rules can be especially helpful.
Aside from these issues, the cost of cleaning and repairs are saved when requiring your property to be non smoking. Non-smoking means to not allow smoking of any kind inside or outside the property. A smoking tenant, including their guests, must be located completely off of the property at all times when smoking.

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