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Q3 Vacancy Report – NARPM Southwest Idaho

December 4, 2019

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.

Filed Under: Financial, Investment Property, Property Management Tagged With: caldwell, investing, investment, investor, management, meridian, National Association of Property Management, owner, professional, property investment, property managment, protect, quarterly report, real estate, real estate trends, rental, rents, rentwise, rentwisepm, technology, tenants, treasure valley, vacancies, vacancy

Not all investors are created equal.

August 28, 2019

Getting the most out of your investment property means understanding your unique needs as an investor. It’s also important to partner with a property manager who knows how to help you reach your goals.

What Should My Property Manager Cover?

You work hard for your money and equally as hard to decide how/where/when to invest it. If real estate is your avenue of choice for investment, you want to make sure you’re choosy about your property manager.

Investing in a rental property has its ups and downs, as well as pros and cons. An effective property manager will help you as the landlord, and navigate your way through that process. From picking up keys for you after closing, handling rent ready repairs, placing tenants, you want to be able to trust that your property manager has everything under control. Every nook and cranny, every aspect. You want your property manager to be your partner in progress.

What Questions Should I Ask My Property Manager?

When considering a property manager, it’s important to find someone who won’t just put you in a little box and leave you there. You want to make sure they ask the right questions, and keep you in the loop about what is happening at your property. Here are some questions you may want to ask:

  • Are you a licensed property manager? What are your certifications?
  • How many properties are you currently managing, and what type of properties are they?
  • What is your fee structure?
  • How do you send your reports, and what information do those include? Can I see a sample?
  • How are potential tenants screened?
  • Who handles the maintenance work?
  • How is rent collected?
  • How long is the management agreement for?
  • Do you have references?

It is vital that you find a property manager who can customize their services to you – not the other way around.

Making Sure Your Property Manager Understands the Industry

At the same time, you want a property manager who is more than just a “yes man”. You want someone who isn’t afraid to offer recommendations for improvement on the property, ensures that you adhere to compliance laws, and other issues as it fits your best interest. It’s important that they are able to explain the “why” behind these recommendations.

This is your property, your hard-earned investment. That’s a hard thing to hand off to another person to manage. You want to hire a property manager that has experience as renters, and as investment property owners – that way you can be sure they know the frustrations and hesitations.

You’ll want to find a property management team that has extensive experience in this industry, as well as business management, bookkeeping, real estate photography, and real estate marketing.

Ready to Learn More About Professional Property Management?

If you’re considering finding a property management for your investment rental – start with our property value tool!

Filed Under: Investment Property, Property Management Tagged With: boise, caldwell, certifications, eagle, home, investing, investment, investment management, investor, leases, meridian, middleton, nampa, property investment, property managment, real estate, rental, rents, rentwise, rentwisepm, star, tenants

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    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

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