How to Declutter Like a Pro: Making the Most of Your Rental Space

January 26, 2023

Decluttering is scientifically proven to reduce stress, increase the ability to focus, and helps to combat feelings of depression. If you’re a renter, then you know how difficult it can be to keep your living space organized and clutter-free. It’s easy to let things pile up over time, especially when you don’t own the space and don’t plan to stay in it for too long. But don’t worry because there are plenty of simple and effective decluttering tips you can use to help you keep your rented space organized!

Take a walk through your home and identify the items you don’t need. This might include anything from clothes and shoes to old magazines, DVDs, and even furniture. Make a list of all the items you plan to get rid of, and then decide what you’ll do with them. You might choose to donate them, sell them, or simply throw them away.

Once you’ve identified the items you don’t need, it’s time to start organizing the things you do want to keep. Take advantage of vertical storage solutions like shelves, bookcases, and over-the-door hooks to maximize your space and make it easier to find things. You can also use bins and baskets to store items that don’t need to be seen.

When it comes to bigger items like furniture, try to choose pieces that won’t take up too much room. Invest in multi-functional items like an ottoman with storage, a coffee table with drawers, or a futon that can be used as both a sofa and a bed.

Finally, don’t forget to keep your living space tidy regularly. Make it a habit to take 10-15 minutes each day to pick up clutter, dust, and vacuum. This small investment of time can make a big difference in the overall appearance of your home.

Here is a breakdown of our 10 Favorite Decluttering Tips:

Donate, sell, or give away any items you no longer need or use.
Create a designated spot for frequently used items, like keys, phone chargers, and mail.
Utilize storage bins or baskets to keep items like blankets, pillows, and books organized.
Utilize vertical space with shelves and racks to store items like spices, canned goods, and cleaning supplies.
Use drawer and cabinet organizers to keep items like cutlery and dishes orderly.
Invest in furniture that has additional storage like ottomans, armoires, and sofas with built-in drawers.
Hang items like coats and hats on wall hooks, or in closets.
Utilize the back of doors to store items like cleaning supplies and scarves.
Consolidate similar items, like craft or office supplies, into one storage container
Label storage containers, shelves, and bins to make items easier to find.

If you’re like us, we love a good list or guide to help with visual progress. Here are two fantastic guides to help you on your journey of a wonderfully organized home.

If you would like to know more about how RentWise Property Management does property management, visit us at www.rentwisepm.com, where we make finding your dream rental a LESS HASSLE, MORE HAPPY experience!

We hope these decluttering tips help you keep your rented space organized and clutter-free. Good luck!

Winter Preventative Plumbing Essentials | Pro Tips to Protect Your Pipes in the Winter Months

January 2, 2023

The general rule of thumb when it comes to plumbing freezing in the winter is that if the temperature outside drops below 32°F (0°C), the pipes inside your home may be at risk of freezing. If the temperature drops significantly lower than that, such as in the teens or single digits, it’s even more likely that your plumbing could freeze.

Generally, a frozen pipe can burst in as little as a few hours if the temperature is cold enough and the pressure is high enough. To help prevent this from happening, it’s important to keep pipes from freezing in the first place by insulating them, keeping the temperature of your home above freezing, and ensuring that pipes are properly maintained.

To keep your home’s plumbing safe during the winter months, here are some tips that you should consider:

Insulate Exposed Pipes

Uninsulated pipes in exposed areas like the attic, crawl spaces, and garage are especially vulnerable to freezing temperatures. Make sure to use proper insulation materials to protect them.

Fiberglass insulation, foam insulation, and heat tape are all excellent options for insulating plumbing to keep it from freezing. Fiberglass insulation comes in rolls that are easy to install around plumbing pipes. Foam insulation comes in pre-cut shapes and sizes that fit around pipes and can be sealed to the wall with caulk. Plumbing heat tape is an electrical heating element that is used to keep pipes from freezing in cold climates. It is a self-regulating, insulated cable that is wrapped around the pipe. When the temperature drops below freezing, the heat tape turns on, providing just enough heat to keep the pipes from freezing.

Keep Cabinets Open

If you have exposed pipes within your cabinets, keep the doors open to allow warm air to circulate. If you notice a drip or any signs of water, turn off the water shutoff valve and immediately put a bucket down to ensure that your space does not flood.

Disconnect Water Hoses and Insulate Outdoor Faucets and Spigots

Make sure to disconnect all water hoses from exterior faucets and spigots to prevent freezing. If you have outdoor faucets, make sure to insulate them with specially designed covers or wrap them in foam insulation. You can easily find these on Amazon or at your local hardware store.

Inspect for Leaks

Check your property for any signs of water leaks or dripping faucets, as these can lead to frozen pipes. Furthermore, if you are not going to be at home for more than 24 hours, you should consider having a third party frequently check your home for any signs of compromised plumbing. If you notice any signs of water spots, report those to your property manager and maintenance coordinator immediately.

Maintain Consistent Indoor Temperatures

Generally, it is recommended that you keep your thermostat at a minimum of 65°F to prevent plumbing from freezing. If your home cannot maintain a consistent temperature due to a power outage, it is important to take measures to protect your home’s plumbing to avoid costly repairs. It is recommended to keep each faucet at a slow drip to relieve water pressure and prevent freezing.

Know Where the Main Shutoff Valve Is – In case of an emergency, it’s important to know where the main shutoff valve is located so you can quickly shut off the water.

If you are renting your home, be sure to have the steps to file a maintenance work order handy.

Our top priority at RentWise Property Management is to care for your home as if it were our own. We know your investment is important to you, and you want it maintained both financially and physically. As you can see, there are many effective ways to protect your property. We care about our property owners and tenants just like our friends and family. We would love to have you as part of our RentWise Family! For more information on how we make things “Less Hassle, More Happy”- visit us here!

SW Idaho NARPM | Q3 2022 Vacancy Report

November 8, 2022

Each quarter the NARPM Southwest Idaho Chapter conducts a vacancy survey with data sourced from local property management companies! This is to help investors gauge property performance and vacancy rates in the respective county that their rental properties are in.

The Southwest Idaho Chapter of the NARPM(National Association of Residential Property Managers) has released its findings from the 2022 Q3 Vacancy and Rental Trends survey. The report is as of September 30, 2022. This survey tracks key performance indicators and market trends for single and multi-family homes across the Ada and Canyon County region. There are a total of 9,018 managed between the counties, with a total of 314 vacancies.

Q3 Vacancy Survey Results

The rental market has seen some very interesting fluctuations this quarter! The number of vacancies in this report increased by 225 units. However, the number of rentals managed significantly increased by 3,654 homes. The 3rd quarter of 2022 closed out with an overall vacancy rate of 3.48%. The data collected indicates that vacancy rates are beginning to level out, and Q3 of 2022 is right in line with Q3 of 2021, in which the vacancy rate was 3.2%

Rental Rates

Ada County single-family rental rates decreased this quarter by an average of $42.00 per unit per month. The overall marketed rent rate for the combined single and multi-family comes in at $1,962 per month. To compare, that is a $324 or 19.78% monthly rental rate increase based on the Q3 2021 Vacancy Survey.

Canyon County rental rates showed a rental rate decrease in the third quarter of 2022. The rental rates for single-family homes showed an average monthly decrease of $97. This puts the average rental rate at $1,830 per month. The current data illustrates that rental rates in Canyon County come in lower for both single and multi-family properties.

Rental Rate Comparison By County

Here are some of the key metrics for review that are broken down by respective counties.

Stay tuned for the Q4 survey results that will be coming out in early 2023. If you have more questions about how we can help maximize the return on your investment property or would like more information about our services and how owning an investment property can be LESS HASSLE, MORE HAPPY, give us a call at 208-949-3083!

Maximizing Value | 3 Ways A Professional Property Management Company Can Save You Time & Money

October 27, 2022

You’ve decided to turn your property into a rental home. Hooray! Self-managing your rental properties may often seem like an easy task & a good idea.

However, you may soon realize that managing a rental property involves a TON of work and a time commitment many investors do not have. When you decide to self-manage, essentially, you become the “everything” person. What does that mean? You have officially been promoted to the landlord, marketing professional, photographer, maintenance coordinator, emergency contact, tenant screener, document preparer, accountant, and legal liaison. Whoa.

You may feel as though you are maximizing your passive income profits by not spending the extra money for professional help. However, there are costs associated with bringing in professionals; trying to handle everything yourself could cost you money. Rental Properties can be an excellent source of income. Here are three ways hiring a professional property management company can take some of the burdens off the investors.

Marketing + Finding High-Quality Tenants For Your Rental

Professional property managers are well-versed in how the local rental markets perform, vacancy trends, and average rents collected. When you do business with a property manager, you hire their skill sets to help get your rental tenanted quickly. Your property manager may provide recommendations on upgrades or potential maintenance that needs to be completed to get your property ‘rent ready’. Additionally, your property management team will be able to advise you on suggested appropriate rents for your area and will assist in maximizing your return on investment. Further, your property manager will have access to countless marketing tools, such as the company’s website, professional business pages, the MLS, and social media.

Once you have found a potential tenant, you must adequately screen and vet them to ensure they have the ability to pay rent, have a clean background, and are not scammers. Many property owners have little experience in screening tenants and often do not have the tools to complete proper background qualification checks legally. Professionals have proven processes in place to work quickly and efficiently screen tenants. Not only does this give you back some of your time, but it also creates the opportunity for quality tenants to remain in your home long-term.

One aspect of owning a rental property you may not have considered is federal, state, and local landlord-tenant laws. When accepting applications and screening potential tenants, you must comply with all regulations to avoid legal turmoil. Your property management team remains trained and up-to-date on all current regulations, such as fair housing and discrimination laws. This expertise also comes in handy if an unfortunate eviction were to occur. There are many processes and procedures involved with carrying out an eviction. Removing a tenant is never a good feeling, but having a trusted team of experts on your side can ease some of the anxiety associated.

Maintenance & Repairs

It’s 2:00 AM, your phone rings, and it’s your tenant with an emergency. You’re traveling across the country and cannot get to the property for several days. Additionally, you do not have a list of reliable and licensed contractors available to perform quality repair work. This sounds like every investor’s nightmare, right? One of the largest perks of working with a property management company is having someone on your team 24/7 to address any maintenance concerns immediately.

Additionally, experienced property managers can resolve issues quickly as they have access to teams of trusted vendors. This means that you, as the investor, that you no longer have to answer any tenant maintenance requests directly. Many property management companies also have preventative maintenance programs. These programs can include routine maintenance inspections with the hope that any small issues are caught early before evolving into larger, more costly problems. This allows peace of mind for the property owner and affords the opportunity for major systems in their properties to be checked regularly and maintained.

The right property management team looking out for your property will save you time and money. You will no longer have to stress and coordinate maintenance repairs, no matter how serious the issue may be.

Rent Collection + Lease Enforcement

Time is money. It is no secret that sometimes collecting rent from your tenants can be a challenge. Property Managers are responsible for preparing a lease agreement and enforcing the standards once a new tenant signs for a property.

Property Managers assist with making rent collection easier and seamless for everyone in some of the following ways:

Offering convenient ways for your tenants to pay their monthly rent
Explain the rent collection process to new tenants so that they thoroughly understand the process and their obligations under their lease agreement.
Discussing the consequences and outlining the process for non-payment of rent, late fees, and potential eviction
Your property manager will handle the legal procedure for eviction and stand behind you in court to help recover any costs related to a non-paying tenant.

Additionally, outside of monthly rent requirements, when a tenant signs a lease on a property, they are signing a contract to abide by the standards set forth by the property manager.

A few situations that will be outlined in a lease agreement are:

Pet Policy
Security Deposits
Rent Payments
Notice of Entry
Subletting and Roommates
Parking Policies
What’s Included in the Lease- utilities, appliances, pest control, etc.
Repairs and Maintenance
Insurance Requirements
Process for Addressing Violations

There are many ways that Property Managers enforce the standards of a lease agreement. Many will have processes put in place for quarterly, biannual, and annual check-ins to ensure that the legal requirements of the lease are being met.

Closing

Hiring the right property manager is essential to your success while owning an investment property. It will not only save you time and money, but it will ensure that you are PROTECTING your investment long term.

If you are looking for a property management company to help save you time and money, RentWise Property Management would love to connect with you!

Reducing vacancies, avoiding a bad eviction process, or handling a major repair request more than makes up for the cost of investing in a professional property manager. We guarantee our best practices and ethical standards are unmatched. We are dedicated to creating relationships with clients, tenants, and vendors to make owning an investment property easier and more profitable.

Amenities & Tenant Safety | Tips For Child-Proofing Your Rental Property

October 12, 2022

It’s no secret families with children and pets are ideal long-term tenants. Once families begin to expand, it is difficult for them to unnecessarily move from one place to the next every year or so. Recent statistics show that families generally stay put on average for three years. Those are great odds for rental property investors.

When searching for their next home, families typically have a few key points at the front of their minds. Location, schools, and safety are huge components of any home search. While thinking about safety, many property owners don’t consider that this can mean a child-proofed home for their prospective tenants. This often overlooked amenity can be a huge selling point when a family is viewing at home. If you’re looking to keep your vacancy rate low, there is no better way than to keep your tenants happy. And what better way to appeal to families than to protect their loved ones? More amenities and attention to detail equals a higher monthly rent, which in turn will boost your monthly passive income.

If you’re unsure where to start in the child-proofing game, you’re in luck. We’ve put together a short list of easy ways you can implement safety features into your rental property.

Windows + Window Treatments

Many rental properties have window coverings, or blinds, with long pull strings that can hang low to the ground. This makes it easy for young children to get tangled in the cords, and unfortunately, small children have died from strangulation. Many state legislatures are fighting to outlaw corded blinds in homes.

If you are looking for a great way to dip your toes into the child-proofing game without making it obvious, installing cordless blinds at your rental is a beautiful place to begin. They are visually appealing and are constructed infinitely better.

If you do not have the budget to overhaul every window treatment, there are still steps you can take to enhance safety around the blinds.

Install a small hook where the cord can be tied up and out of reach of a child or pet
Provide curtain cord covers that clip any excess cord from the blind

Additionally, ensure that the windows in your rental are secure and that the locks are in good working order. Inspecting the stability of the window panes and screens will eliminate the risk of a window falling on a child.

Electrical Outlet Covers

Once babies are on the move, there is no stopping them from exploring anything and everything they can get their hands on. Electrical outlets are no exception. Electrical outlets are a magnet for little fingers due to being eye level with a little tot. Babies and toddlers are infamous for wanting to touch outlets and stick their fingers and/or toys into the little sockets.

To protect against accidents, installing outlet covers is one of the easiest child-proofing measures you can take. There are many different options, all of which do not affect the functionality of the outlet. While this is a very inexpensive and easy fix, saving the tenant the hassle of doing it themselves is a huge bonus in showing that their landlord cares enough to take care of it for them.

Pools

If your investment property has a pool, there are steps that you must take to make accidental drowning a non-issue for tenants with children. Child-proofing the pool area will provide value for prospective tenants and protect your liability as the owner should an accident occur. Peace of mind is priceless for parents who not only want to provide a fun space for their children that is safe.

Signage. Post signs on how the pool should be used, maximum occupancy, and any emergency directions.
Pool Surroundings. Your property’s pool should have a fence with a tall, locked door that will prevent children from swimming unattended. The fence should be tall enough that even the most agile kiddos cannot climb over and sneak in.
Pool Covers. When looking at safety, there are many different options for pool covers. To protect the integrity of the pool, you may opt for a hardcover, which also can withstand a person’s weight. Another option is netting, specifically designed to securely stretch across a pool and eliminate the risk of drowning if someone falls in.
Pool Alarm. Designed to sound a loud alarm when the pool water is disturbed, this feature may make parents feel safer about having their child living in a home with a pool.

Falls

Not every rental property is one-story, and it is imperative to consider fall risks and safety when child-proofing a home.

Inspect the stability of all fences and railing to ensure that nothing is loose.
Be sure that balcony fencing does not have a wide enough space where a child could slide through.
Ensure the railing is tall enough that a small child cannot fall over the edge.

Other Considerations

While we have hit on some of the significant items, there are still many things you do to up your child-proofing game.

Install cabinet locks
Add child-proof door locks to all exterior doors
Install removable, walk-through gates at the top and bottom of each staircase
- Encourage your tenant that they are welcome to do the same
Add hand railings to exterior stairs and porches to discourage falling
Install appliance locks and appliance anchors to ensure that they cannot fall if a child climbs on them
Add rubber bumpers to sharp corners and edges

Going that extra mile to provide safety precautions and thus some childproofing strategies can positively affect your potential tenant’s family’s desire to lease your investment property.

If you have more questions or you want to find out more about our services and how you can have LESS HASSLE. MORE HAPPY when it comes to owning an investment property; visit our website at www.rentwisepm.com or give us a call at 208-949-3083.

3 Tips To Protect Your Vacant Rental Property

September 14, 2022

Do you own a rental property in the Treasure Valley in Idaho?

The overall vacancy rate between Ada & Canyon counties is at an all-time low of 1.67%! Although the vacancy rate is historically low, your rental property will become vacant at one point or another.

However, you may not have considered that a vacant home is a desirable target for thieves, crime, and vandalism. Empty homes are the easiest to break into without anyone noticing. Property damage from a break-in will likely be costly. Stolen plumbing, appliances, broken windows, and property damage can eat away your property’s profitability quickly. It will also take time to repair the damage so that it is livable again. There are several vital steps that you can take to ensure that your investment is protected and able to be rented as soon as possible.

Protecting Your Vacant Rental

1. Create The Appearance Of Activity

Increase Lighting- Keeping a vacant property well-lit is a considerable deterrent for those lurking. Installing motion-activated exterior lights on the front and back of the property is a great start. Further, having timed lights on the interior and exterior of the home will create the illusion that there is a resident in the home. If lights are kept on 24-7, it can quickly become evident to a criminal that there is no movement at the home.
Window Coverings- If you haven’t already invested in blinds or curtains, a vacancy is a perfect time to have those installed. Anyone can visit a property and look in a window; if it is apparent that the property is empty, this is an open invitation to crime. Covered windows can create the illusion that someone is home.
Maintain Landscaping- Overgrown and unkempt landscaping is the first sign that no one is living at a property. If your home is vacant and between tenants, landscaping will be a top priority to increase curb appeal. Further, keeping the lawn mowed and trimming shrubs and trash out of the yard will deter unwanted visitors.

2. Regularly Inspect The Property

Check Locks & Doors- Continue maintaining the home’s security by checking for broken doors and windows and ensuring that all locks are functioning correctly.
Remove Mail & Packages- Porch shoppers will quickly notice if there are boxes at the door. Additionally, if the mailbox is overflowing, this is a surefire indication that no one is home.
Visit the Property- If you are self-managing your rental and are local, visit your property regularly. However, be sure not to visit at the same time, as this will show a pattern. Thieves are sneaky and notice these small nuances when targeting a property.
Hire a Third Party to Inspect the Home- If you are not local or don’t have the time to dedicate to frequent visits, you may consider hiring a trusted third party to inspect the home. Experts such as TaskMasters Idaho will offer convenience and peace of mind to handle your vacant home inspections. A third-party inspector will enter the property frequently, test all doors, locks, and plumbing, and look for signs of forced entry.

3. Hire a Property Manager

It would be best if you were using one of Boise’s most-trusted property management companies. If you have potential tenants contacting you directly regarding your available vacant rental, be mindful of how much information you share. Your property manager can handle the many facets of protecting your vacant property and getting it tenanted quicker. Some of the details that your professional property manager will take of are:

Screening Tenants- Property Managers are skilled at screening potential tenants and spotting a scam. If you are inexperienced, you may disclose specific details regarding your vacant property to a stranger, which could set your home up for a break-in.
Marketing Your Property– The easiest way to eliminate vacancy concerns is to place great tenants in your property. Your property manager has access to a much more extensive network and will begin marketing the property immediately.

Final Thoughts

Owning a rental property in a place such as the Treasure Valley offers extremely low vacancy rates. Tenants are staying put and leasing properties for more extended periods. However, all rental property owners will experience a vacancy as tenants move from time to time. Additionally, considering the above tips, your vacant rental property will remain better protected. Further, staying proactive will lower the risk of costly damages due to theft, vandalism, or a break-in.

RentWise Property Management is committed to your success while owning an investment property. Investing in our services will not only save you time and money but will offer peace of mind that you are PROTECTING your investment long-term.