Idaho’s Landlord Tenant Law recommends the following:

1.  Conduct a criminal, financial, credit, and rental background check on every adult applicant. 

2.  Inspect the rental property with the tenant before moving in and after vacating the property.

3.  Take pictures and video tape the property before a tenant moves in and after vacating.

4.  Provide copies of the lease and any addendums. 

5.  Provide receipts for cash payments.

6.   Keep accurate records.

7.  Explain the lease terms to the tenant if necessary.

A Happy New Year 2011

Thank You
Now that the holiday season has past and the New Year has begun its time to get back to work. We have had an unusual experience for the past couple of months, when late last fall our office gained full occupancy in all of our properties. This is highly unusual, and I might add an absolutely wonderful experience. But, now reality has come back into our lives and we realize our great tenants have families, jobs and lives, all which include the possibility of moving. Sadly, we have the first vacancy of 2011. Vacancies are an inevitable fact of life in property management.
We have been very blessed to have full occupancy, but far more so in having a wonderful group of tenants. Each and every one of them are exceptional people. We have no concerns or complaints about any one of them. We meet with each and every tenant personally. We know the properties but, we know the people who rent from us, we know our tenants.
We are blessed to have this opportunity to thank each and every one of our tenants for being who they are….great people, and great tenants. We appreciate you and Thank you.
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

Space Heater

Space Heater

Space heaters are popular and work well in heating a small area of your rental home or apartment. Space heaters are not meant to replace the heating system but to help with additional warming of a small area in the home. When using a space heater, very simple but extremely important rules, must be followed to ensure your safety.

Here are some rules:

1. Never leave the heater unattended.
2. Use a wall plug only. Never use an extension cord or worn outlet.
3. Turn the heater off while sleeping or otherwise unable to visually keep an eye on the heater and its functionality.

Remember space heaters are a leading cause of fire with 1 in 10 starting by improper use of a space heater.

Always use the heating system in the home or apartment as your main source of heat. If a problem occurs or questions arise about its safety contact your landlord or property manager, heating and cooling service company or the local fire department.

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

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/

Your Boise Property Management Rental Resource

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

A Lending Decision

Having properties for rent and the market a bit soft makes it important to locate a new tenant as fast as possible. With properties in top condition and lowered rents in place we were ready to go. With thoughts of filling some vacancies we advertised in several local hot spots and soon received a call to show a property to a woman and her child. She wandered through the first apartment then the second, returning to the first. She was quiet at first, but then began discussing the home with a friend that came along as support. They discussed where to place furniture and how wonderful the yard would be for the child to be able to go outside and safely play and for her to do some gardening.
She decided to apply for the property. After an hour we had a prospective tenant with a completed application and well on our way to filling a vacancy. This was exciting.
Returning to the office the screening process began. The first thing was to obtain a credit report. It’s on our website and spelled out on the rental application we do tenant screening on every adult applicant. We require a through screening be done and charge a fee to the tenant for that service. Tenant screening is very important and every landlord or property manager should either do it themselves or hire a company to verify a prospective tenant’s credit worthiness, rental history, criminal background and general character of the applicant. It’s a bad idea to lease to anyone with too much debt or bad debt or has any negative findings in other areas of the process. Those are a landlord or property managers golden rule or at least should be.
In all the years of working in property management and conducting tenant screening, a credit report has always included information whether it is a minor or major item of credit or comment there has always been something on a credit report. This applicant was 30 years old with a child; it’s assumed some type of credit would appear on this report. To our amazement and disbelief she had no credit. She was nonexistent in the world of credit. What should be done when accepting or denying a prospective tenant and their ability to rent this property?
This is what was determined. Our policy is to have a minimum credit rating and to demonstrate the ability to pay rent with any and all utilities or fees during occupancy. Also, they must come with a good record in all other areas. But, the credit report has always been a major area to weed out the keepers and rejects so to speak. Where does this applicant land with this issue?
We determined without a credit history we had no way to determine her ability to pay. Even obtaining raving reviews from the current landlord, friends and family the problem remained as to her credit worthiness. It doesn’t mean she would be a bad or good tenant, it means we cannot verify her credit worthiness. Also, if we indeed rented to her and later went into default for rental payments, we would not be able to locate her to collect past due payments. In order for us to offer tenancy, she would need to apply for credit. It may be necessary for her to have someone cosign on her behalf, of which we don’t accept, or be added to a joint account for a period of time. In a short time she will have a credit history upon which to base her credit worthiness and be a great candidate for a new rental.
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

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

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

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

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/