Check Your Prospective Landlord

Since the financial fall of the real estate market renters have been placed in bad positions with foreclosures and unscrupulous property owners.  Here are a few things you can do to be informed and protect yourself.

1.       Ask questions of the landlord or property manager.  Be friendly when asking how long did the previous tenants live at the property and how long were the ones prior to them?  This shows the possibility of a landlord that is difficult to work with.  Ask how long he’s been a landlord or property manager, and who is responsible for repairs and if the landlord is who will be taking care of those repairs.

2.      Check property records.  You have to know who you will be leasing from.  A property management company is easily checked into but what if the landlord is a private owner?    Also you can check out your landlord at checkyourlandlord.com.  Make sure the property is not at any risk of going into foreclosure or bankruptcy.  

3.      The best way to be more confident about your move is to visit with the neighbors.  They will give you lots of information.  Ask questions such as: Is this person the actual landlord?  How are repairs done and are they done in a timely manner.

4.      Take a drive by other properties owned or managed by this person or company.  If the property looks as good as the place you are wanting to rent and all other information regarding the landlord looks reasonable you should be comfortable in making your renting decision.

Don’t feel pressured to sign onto a property.  It only takes a few minutes to review the landlord and any reputable landlord or property manger will understand and are able to wait a couple of hours for your rental application.  Besides, you, as the prospective tenant, are required to wait for the landlord to check into your background it’s only reasonable for you to do the same.

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

Coming Available August 1st.

Plush, comfortable and roomy townhouse style duplex located on a quiet culdesac. 
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Very clean.
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View more details and photos at www.mrpmrentals.com
To schedule an appointment to tour this wonderful property call:  208-322-4228

TENANTS FACING FORECLOSURE

THE PROTECTING TENANTS AT FORECLOSURE ACT


The federal Protecting Tenants at Foreclosure Act ensures that tenants receive notice that their residential rental property was sold to a new owner at a foreclosure sale. To prevent an abrupt eviction, the Act requires the new owner to give tenants at least 90 days to leave the rental. If the property reverted to the bank or will not be used as a primary residence by the new owner, the bank (or new owner) must allow the tenants to remain in the rental until their lease expires.
The Act only protects the rights of “bona fide” tenants, which includes persons in possession of property with or without a lease, provided that:

• The person isn’t the new owner or the owner’s child, spouse or parent;
• The tenancy was the result of an arms-length transaction; and
• The rent is not substantially less than what the property’s fair market rent is (unless the rent is government-subsidized).

Section 8 Tenants
The law provides “Section 8” tenants with all of the same rights as other tenants. The new owner must give the tenant a 90-day notice to leave if the owner intends to occupy the property as a primary residence. The tenant’s Section 8 Housing Assistance Payment contract continues, and foreclosure is not a lawful reason for the owner to terminate a lease.

Enforcement of the Act
The law is self-regulating, which means that no government agency enforces it. Also, federal courts have ruled that tenants cannot file lawsuits under the Act. However, tenants may have other causes of actions or remedies and should speak to an attorney about their legal rights.

Reproduced from http://www.ag.idaho.gov/publications/consumer/LandlordTenant.pdf

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

Landlords require tenants to carry renters insurance

Buying a policy to cover your possessions is always a good idea and more property owners are making the decision a lease requirement. An owner’s insurance policy never covers the tenant and or their belongings.

As the local rental market continues to tighten, many property managers are requiring each tenant or rental unit be covered by renters insurance and be a part of the lease agreement also to provide verification and its value to the landlord or property manager.

Renters who balk at paying renters insurance premium should take look at its advantages. First, renters insurance is cheap! Do some shopping; agencies can give quotes over the phone or on-line. Paying over $120 per year may be excessive unless your personal property is of high quality and volume.

Renter’s insurance policies can save big money in replacement costs if you are robbed, the rental floods damaging furniture, a fire and smoke or other damages. The policy should cover personal items replacement value, storage and hotel or other rental costs if you are required to vacate. Also the policy should cover damages finding you as the tenant at fault and is your responsibility for payment. This alone can save thousands in a legal battle.

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