Looking for a new property manager is not an easy feat, so here are the top 7 things we recommend you ask. Not just because we want you to hire us if you find yourself looking for a property manager, but because no matter who you choose, we truly want you to have a great experience owning an investment property in Idaho.
Maintenance and Money.
In our experience with clients, there are very specific pain points for a majority of our clients when it comes to owning an investment property. Maintenance and Money. These questions relate to both of those and can really affect your bottom line when owning an investment property.
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What types of properties do you manage?
- We manage single-family and multi-family housing.
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How often do you go into my rental property?
- There is a walkthrough done bi-annually at each property we manage.
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Do you require tenants to have renters insurance?
- Yes, renters insurance is a requirement in our lease agreement for every tenant over the age of 18 and must have a minimum of $100K liability coverage.
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How do you pay clients? (some pay in arrears, some pay in advance and that might be an unpleasant surprise once the property is rented)
- Rents are received on the 1st of each month, no later than the 5th and paid to clients between the 10th & 12th of that same month depending on weekends and holidays.
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How do you handle maintenance requests?
- When we receive a work order request from a tenant our team reviews it, troubleshoots when possible and then dispatches it to a vendor as applicable. The client receives and email notifying them of the request shortly after. We await contact from the vendor at that point. We review & check on active work orders on a regular basis and any maintenance needed at the property over $150 must be approved by the client (with the exception of emergencies).
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How much do you charge?
- Our monthly management fee is 8% of the gross rental income however we do negotiate if a client has 3 or more properties/units.
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Are there any other fees?
- We have a one-time setup fee of $150 and it is $50 per bi-annual walkthrough which includes a full report at your request. That’s it, we like to keep it simple!
If you want to see our full list of FAQ’s just go to www.rentwisepm.com/owner-faq/. We also offer a few tips on what to ask if you are switching property management companies to ensure you get all the information you need for the smoothest transition, just click here.
A property manager usually wears a million hats so knowing where they stand on these aspects of managing your property means you can have peace of mind knowing that they are handling things just as you expected. If you would like to know more about our services you can either visit our website at www.rentwisepm.com or if you are ready to start living with LESS HASSLE, MORE HAPPY when it comes to owning a rental property in Idaho give us a call at 208-949-3083.