RentWise Property Management

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(208) 949-3083

      

Q3 Vacancy Report – NARPM Southwest Idaho

The NARPM Southwest Idaho Chapter conducts a vacancy survey each quarter by collecting data from local property management companies throughout the Treasure Valley including Ada and Canyon County. The data collected reveals the trends and current state of the local rental market so you can make an educated decision about your investments!

Wondering whether Idaho is the best place to purchase an investment property?

This report shows the vacancy data for nearly 9000 “doors” in the Treasure Valley. Our valley is one of the most desirable places to not only live but INVEST in! In the almost 8 years that RentWise has been managing investment properties, the Q3 data is the lowest we have seen! What does that mean to you? It means owning a rental property in Idaho is ideal for any investor. We have a large need for affordable and available housing at an ROI that fits most pocketbooks. You can read the full report by clicking here. Q3 2019 Vacancy Report

Unit Managed Number of Vacancies Vacancy Rate
Ada 6335 97 1.53%
Multiple 4352 53 1.22%
Single 1983 44 2.22%
Canyon 2508 50 1.99%
Multiple 1939 39 2.01%
Single 569 11 1.93%
Grand Total 8843 147 1.66%

 

What is NARPM?

The National Association of Residential Property Managers (NARPM®) is an association of real estate professionals who know first-hand the unique problems and challenges of managing single-family and small residential properties. They provide members with the education, classes, information, support, networks, and growth they need to succeed in the property management industry.

Whether you choose to self manage or hire a professional property manager like RentWise, we recommend you either join yourself or hire a member of the NARPM. We would love the opportunity to discuss how we can help when it comes to managing your investment with the highest possible return.

Ready to start living with LESS HASSLE. MORE HAPPY? Reach out to us today, RentWise Property Management.

Communication & Property Management

Communication can make or break any relationship. This is especially true when it comes to property management. From tenant repairs and new leases, to recommendations for improving profit margins on your rental – effective communication is key to success.

No one wants to be in the dark; and when they are – things get messy, confusing, and frustrating. Here are three key areas where you want to make sure your property manager has a clearly defined communications procedure.

Tenant Repairs

Tenant retention rates are a vital component to turning your rental into a profitable investment. When a client needs a repair, efficiency goes a long way toward keeping quality tenants in your rental. Your property manager should have an easy to use portal where your tenant can easily make a request, and get a response with a plan for repair quickly. This portal should enable the property manager to assign repair projects to trusted professionals who will perform the work according to your contract.

New Leases

You need to be kept up to speed on your properties and their vacancy rates. A quality property management team will have systems in place to notify you when leases end, and when new leases are signed. Staying on top of this process will help you make informed decisions about your property.

Lease Renewals

If you have a quality tenant in your rental, you’ll want to keep them there as long as possible. Your property manager should have a clearly defined communications procedure in place to notify you when that tenants lease is coming due for renewal. That way, you can make informed decisions on how to keep that well-paying, trusted tenant in your investment property.

A qualified property management team will provide you with as much information as possible to allow  you to be as involved or as passive as you would like in managing your investment. Your input matters, and you also need to have a clear view of what’s going on to make an educated decision when reviewing recommendations regarding your rental.

Choosing the right property manager is essential to owning a profitable and successful investment, communication is the key to open that door.

Considering renting your property? Schedule a free consultation with RentWise!

 

Our Location:

RentWise Property Management
925 N Main St. (drop box only)
Meridian, ID 83642

Mailing Address:
P O Box 191208
Boise ID 83719

Contact Us:

Office: (208) 949-3083
Fax: (208) 953-7870
E: office@rentwisepm.com