A misconception about being a rental property manger may be that one just puts a “For Rent” sign on the front of your unit and starts collecting rent immediately. We hope to provide some tips from Real Property Management Coeur d’Alene to ensure you rent to good tenants and have fewer vacancy days, meaning more money back into your pocket. Real Property Management Coeur d’Alene does over and beyond to assist your cash flow and offers years of experience in the business of property management.
Renting your first property is exciting and as soon as you see any interest your natural response is to jump on the possibility of making them a tenant, however pre-screening tenants saves you time and money in the long term. What do you really know about this person? A professional Coeur d’Alene property manager will take the time to screen each potential tenant carefully through employment, background, and credit checks. They know what to look for and how to look for it. Background checks can determine any criminal behavior in a person’s past and there are even background checks for potential terrorist activities. Ask for references from employers and former landlords because references. These references offer a better view of how the tenant will take care of your property rather than friends and family of the applicant. A rule of thumb for employment check is to see if the applicant is making three times or more the cost of the rental. So be sure to check the income of the rental applicant. These are just a few of the things you are supposed to look for, and we can help you find more.
Be legally wise
A burden of a property manager is knowing the laws related to leasing and renting property? After all, lawyer fees are high. One legal issue against an Coeur d’Alene investment property owners’ mistake can completely drain your cash reserves. Real Property Management Coeur d’Alene knows how to properly comply with those laws and regulations to help you avoid legal risks that will cost you money. You need to understand fair housing rules and make sure you are not discriminating against race, religion, service animals, and other protected groups to name a few.
Rent Collection Process
Rent collecting is the ultimate goal of owning rental property. The rent collecting process can be made easier and more regular with the experience of a Coeur d’Alene property manager on your side. Online payment options and online tenant portals gives unlimited access to 24 to tenants to make on time payments easier, and provide a documentation of when the payments are received and initiate fines if need be for late payments. When a tenant moves in, a clear communication of a firm but fair payment policy helps to avoid confusion and keeps the process professional and not personal, which is overarchingly the most common problem for first time property managers.
The job of a Coeur d’Alene property manager can be made easier for you when you partner with an experienced and professional property manager. The hassles and experience needed to do background, employment and reference checks, rent collection, maintenance requests, and legal matter are put on to the shoulders of professions. You are protected legally, prepared more efficiently, and starting that cash flow started as soon as possible.
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.