RentWise Property Management

TENANT PORTAL
OWNER PORTAL
MAINTENANCE
(208) 949-3083

RentWise Property Management Facebook   RentWise Property Management Google My Business    Rentwise Property Management Yelp

  • Home
  • About Us
    • Testimonials
  • Property Management
    • What Will My Property Rent For?
    • Property Management
    • Our Technology
    • Tenant Screening
    • Why Hire a Professional Management Company?
    • Eviction Protection Program
    • Rent Assurance Program
    • How to cancel services with another Property Manager
  • Owners
    • Portal & Resources
    • Owner FAQ
    • COVID-19 Updates
  • Tenants
    • Tenant Resources
    • Tenant Portal
    • Submit a Maintenance Request
    • COVID-19 Updates and Resources
    • Application Processing Policies and Procedures
    • Security Deposit Dispute Form
  • Agent Referral
  • Available Properties
    • Search Homes for Rent
    • Parkway Apartments
  • Blog
  • Areas We Serve
    • Boise
    • Caldwell
    • Eagle
    • Kuna
    • Meridian
    • Middleton
    • Nampa
    • Star
  • Contact Us
    • COVID-19 Updates

What will my property rent for?

January 29, 2020

Are you wondering the best way to determine the most accurate and competitive amount that your investment property will rent for in Idaho? This is typically a deal-breaker question when trying to choose where and how much to spend on a rental property. This is but only one item of consideration, there are so many other factors to consider like age of the home, location, nearby amenities. We have a free tool on our website to help with just that!

What is this tool?

In about 5 minutes or less, you can receive a full report showing all the statistics and accurate data you need to help make that decision. We know that you have better things to do than make phone calls or “google” things as they say and hope the data is correct. Our rental analysis tool has helped several realtors and clients make informed decisions about their potential rental property investment.

How important is the accuracy when it comes to our Idaho rental market?

This matters no matter where you buy but especially here in Idaho, where we are a bit of an anomaly when it comes to home prices and rentals alike, our housing market has significantly increased over the years and there is a definite need for available housing on a steady basis. Our valley is so diverse that just a mile or two can make a huge difference. As our population rises we see a need for balance and as a property manager, it’s important to us to provide quality and affordable housing at a profitable margin.

The rental analysis you can receive will provide you with a free rental estimate with accuracy guarantees. We always recommend checking multiple sources however, this tool will help zoom in and give you the market proper expectations for rentals in our area as it pulls data from a multitude of resources on the internet. We are always on standby as well so please feel free to reach out and confirm.

To utilize this tool you can click here. If you would like to learn more about our services and how you can have LESS HASSLE, MORE HAPPY when it comes to owning an investment property you can visit our website at www.rentwisepm.com or call us today at 208-949-3083.

Filed Under: Financial, Investment Property, Property Investment, Property Management, Rental Properties Tagged With: boise, communication, hiring, home, investing, investment, investment management, investment property, investments, investor, leases, leasing, narpm, National Association of Property Management, professional, property investment, property managment, rental, rents, rentwise, rentwisepm, technology, treasure valley, vacancies

Application Fee Cap in Boise City

January 1, 2020

The city of Boise has passed a new city ordinance applying a cap on application fees. This ordinance was passed just a few days ago and property managers across the Treasure Valley are processing how to proceed on this front.

You can read more about the ordinance in its entirety below. Here at RentWise, we know that properly screening potential tenants is one of the largest concerns for all investors so we want to assure you that we plan to continue screening applicants with the same standards as we always have regardless of the cost or fee changes. If you have any questions, we are always here to help answer them.

City of Boise Ordinance

City of Boise Ordinance
City Code Amendment
Council Office
150 N Capitol Blvd
Boise, ID 83702
(208) 972-8531
TO: Mayor and Council
FROM: Lisa Sánchez, Council Office
NUMBER: ORD-56-19
DATE: November 13, 2019
SUBJECT: Amending Title 5, Adding New Chapter 16, Residential Rental Application Fees
BACKGROUND:
As you are all aware, the vacancy rate for apartments and rental units in the City is at an all-time low, and our residents, especially our low-income residents, are struggling to find housing. The Grow Our Housing program is working to increase the number of units that are available, but the City is precluded under Idaho Code from placing any kind of caps or limits on rental rates.
Despite our limited tools, the City does have the capability to manage residential rental application fees. This would provide relief to residents who are searching for a new rental home who often pay high application fees for each rental-unit application they submit.
Currently, there is no limit in Boise on how much a property manager or management firm can charge a potential renter to apply for a unit. There are no criteria on how the applications will be judged, no designation for what the application fee is going toward, and not even an assurance that a unit is actually available.
Anecdotally, we are hearing that some property managers are charging up to $100 and are accepting far more applications from prospective tenants than they have units available. Some residents are paying even greater amounts applying for units that, by number of applications alone, they have no chance of getting. I have also been told by the Boise City Ada County Housing Authority that there is a risk to their federal voucher funds if the voucher holders are unable to obtain housing. The application fee costs are very much a barrier for these housing seekers. This makes an already tenuous and stressful financial situation even worse, especially for those among us who can afford it the least.
UPDATED PROPOSAL
After conversations with impacted parties, the Office of the City Attorney, the Director of
CITY OF BOISE
Community Partnerships, and the discussion that was had at the City Council Work Session on September 10 and the Public Hearing on October 29th, the ordinance has been updated and now includes: Require that, before an application can be taken or accepted, the criteria on which the application will be judged must be disclosed, along with the amount that will be charged for the application fee. If a property owner or management company is not charging an application fee, they are exempt from the requirements of this section. Require that property owners shall only advertise, take applications and screen applicants for units that will be available within a reasonable time period. If an applicant has been screened, the unit has been offered, and a deposit has been placed, it will no longer be considered available and no other applications will be allowed. If a unit is not available, the applicant will have the option to consent to be screened and placed on a waiting list. Designate that the amount that can be charged by any property management company for a unit in the City of Boise shall not exceed the actual cost of the screening process or $30, whichever is lower. The actual costs that are allowed are only hard costs for items such as background checks, credit report, etc. as written in the ordinance. Soft costs such as labor may not be charged as part of the application fee. The time frame in which application fees can be charged is defined as a reasonable time period before the unit will be available. An explanation and receipt detailing how the fee was used, and any copies of paperwork or correspondence that were generated as a result of the screening must be provided to the applicant. Stipulate that current tenants of a unit shall not be charged an application fee to move to another unit under the control of the same property owner. Further stipulate that violations would be an infraction, punishable by a $100 fine. Second or subsequent violations would be considered a misdemeanor and would also be punishable under those guidelines. Complaints of violation must be filed within six months.
I believe that this is a small but meaningful step to assist those in our community, many of whom are low income, who are in search of a place to live. I ask for your support in making this change.
FINANCIAL IMPACT:
CITY OF BOISE
Minimal. Some police enforcement action.
CITY OF BOISE
Ordinance NO. ORD-56-19
BY THE COUNCIL CLEGG, LUDWIG, MCLEAN, SANCHEZ, THOMSON AND WOODINGS AN ORDINANCE AMENDING TITLE 5, PUBLIC SAFETY, BOISE CITY CODE, BY ADDING A NEW CHAPTER 16, RESIDENTIAL RENTAL APPLICATION FEES – REQUIREMENTS AND PROHIBITIONS; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, the City of Boise believes that everyone one of its citizens deserves safe, affordable and stable housing; and WHEREAS, the City of Boise is dedicated to ensuring that citizens of all incomes have adequate access to housing and are not having to overcome significant financial and regulatory barriers to achieve that access; and WHEREAS, special considerations must be given to the population pursuing rental housing, due to the barriers to that housing that historically and currently make it more difficult for citizens to secure suitable living arrangements; and WHEREAS, one such barrier is the rental application fee that a renter must submit along with their rental application. BE IT ORDAINED BY THE MAYOR AND COUNCIL OF THE CITY OF BOISE CITY, IDAHO:
Section 1. That existing Boise City Code Title 5 shall be, and hereby is, amended to add a new chapter, 16, Residential Rental Application Fees – Requirements and Prohibitions, to read as follows:
Chapter 16
RESIDENTIAL RENTAL APPLICATION FEES – REQUIREMENTS AND PROHIBITIONS
5-16-1. Purpose. The City of Boise City, Idaho (“City”) finds that residential rental application fees should be regulated to protect applicants from unnecessary and predatory collection practices. The purpose of this Chapter is to establish rules and regulations for the collection and return of residential rental application fees within the City.
Residential rental application fees have recently become unduly expensive and not reflective of the actual costs of performing background and credit checks on potential renters. High application fees act as a barrier to segments of the population seeking to secure suitable housing.
CITY OF BOISE
All Boise residents should have access to housing without having to overcome excessive financial and regulatory barriers to achieve that access.
5-16-2. Legal Authority. Idaho Code sections 50-301 and 50- 302 authorize the City to exercise its police power for the protection of the public welfare, prosperity, health and peace of the City, its residents, and the community. The prohibitions set forth in this Chapter are intended to supplement and enhance, and not supersede, State landlord-tenant law and the Idaho Consumer Protection Act, as set forth in Idaho Code Title 48, Chapter 6.
5-16-3. Scope. This Chapter shall apply to all Residential Rental Units, as defined herein, within the boundaries of the City.
5-16-4. Definitions.
A. Applicant: A prospective tenant for a residential rental unit, who signs or intends to sign a lease or other contractual agreement in relation to the unit.
B. Rental Application: The written document used by a rental property owner to determine if an applicant is qualified to become a tenant of a residential rental unit.
C. Rental Application Fee: Any cost, payment, charge or any other kind of expenditure or renumeration, including administrative costs, that a residential rental applicant is required to pay in order to have his or her rental application considered by the rental property owner.
D. Rental Property Owner: The legal owner of a residential rental unit, and his or her agent or representative, including a property management company or its representative.
E. Residential Rental Unit (Unit): A building or portion of a building used as a dwelling for one or more persons that is offered for rent or lease for periods of time greater than thirty (30) days.
5-16-5. Disclosure of Application Criteria. Before accepting a rental application, a rental property owner must disclose to the applicant, in writing, the criteria on which the application will be judged.
5-16-6. Disclosure of Application Fee. Before accepting a rental application fee, a rental property owner shall disclose in writing to the applicant the rental application fee amount. The applicant shall not be charged more than the disclosed rental application fee for that application.
5-16-7. Availability of Units. Rental property owners shall only advertise rental units, receive applications, screen applicants, and accept application fees for rental properties when such rental properties are actually available and ready for occupancy or are expected to be available for occupancy within a reasonable time period; provided, however, that an applicant may consent to be screened and placed on a waiting list. For purposes of this Chapter, a rental unit is no longer considered available if a different applicant has been screened by the rental property owner, has been offered the rental unit and accepted it, and has placed a deposit on the rental unit. A rental unit may be considered available if a tenant of a unit has declared they will not be renewing a lease or have otherwise vacated the
CITY OF BOISE
property. Rental property owners shall document the date and time that deposits are placed on rental units.
5-16-8. Application Fees. Application fees for rental properties shall not exceed the actual cost of the screening process or thirty dollars ($30.00), whichever is lower. The actual cost of the screening process includes only the hard costs associated with a background check. Labor costs and other soft costs associated with application process must be excluded. Hard costs may include, but not be limited to, the following: national, state and local criminal background checks, credit reports, rental history records and/or reference checks, eviction records and/or employment verification. Each adult who intends to reside in a residential rental unit may be charged an application fee.
5-16-9. Disposition and Use of Application Fee. Within ten (10) days of receipt of an application fee, a rental property owner must provide an explanation for the disposition and use of the application fee and provide a receipt to the applicant detailing how the application fee was used. An application fee shall be refunded in its entirety if a rental property owner does not incur hard screening costs. A rental property owner shall also provide the applicant with any paperwork or copies of electronic correspondence generated as result of the screening process, to the extent permitted by State and Federal law.
5-16-10. Current Tenants. A current tenant of a residential property unit shall not be charged an application fee to move to another rental unit owned by the same rental property owner.
5-16-11. Penalty. A violation of this chapter is an infraction, punishable as provided in section 1-4-2 of this Code. A second or subsequent violation within one year of a prior conviction shall be a misdemeanor, punishable as provided in section 1-4-1 of this Code. A complaint filed under the provisions of this Chapter must be filed within ninety (90) days of the alleged violative conduct.
5-16-12. Exemption. The provisions of this Chapter shall not apply to any Rental Property Owner who does not charge a Rental Application Fee.
5-16-13. Private Right of Action. There is no private right of action that is created by this section or money damages available to any person based on this chapter.
Section 2. That this Ordinance shall be in effect immediately upon its passage, approval, and publication.
CITY OF BOISE
ADOPTED by the Council of Boise City, Idaho, on December 17, 2019.
APPROVED by the Mayor of the Boise City, Idaho, on December 17, 2019.
APPROVED:
David H. Bieter, Mayor
ATTEST:
Lynda Lowry, Ex-Officio City Clerk

If you are interested in learning more about our services you can visit our website at www.RentWisePM.com.

Filed Under: Financial, Investment Property, Legislation, Pets, Property Investment, Property Management, Rental Properties Tagged With: boise, communication, hiring, home, investing, investment, investment management, investment property, investments, investor, leases, leasing, narpm, National Association of Property Management, professional, property investment, property managment, rental, rents, rentwise, rentwisepm, technology, treasure valley, vacancies

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

5 things to Consider When Hiring a Property Manager in the Treasure Valley

September 4, 2019

Once you’ve made the decision to invest in a rental property, you’ll want to find a qualified, professional property manager to help you make the most of your investment. Here are five things you should check before hiring a property manager in the Treasure Valley.

 

#1: Is their website useful, comprehensive, easy to navigate?

For most, a website is the first impression when searching for a property manager. If it’s difficult to get the information you want on the website, it might be difficult to get the information you want after you hire them. The website should typically be able to answer any questions you might have as a landlord – barring a few special circumstances – but you should be able to get a pretty good idea of how efficient a company is by their website.

#2: Do they have online resources for their clients?

We are all going 100 miles an hour most of the time, from work to kids to school to vacations – it’s a busy world out there. Having the technology and proper resources online for applicants, tenants, clients is an essential part of running a smooth ship when it comes to your investment property. Not only is it convenient, but it time stamps and creates a communication trail which is the most important aspect of our industry.

#3: Do they answer the phone when you call or call you back within a few hours?

Frankly, it’s rude to not return someone’s call. Not having an appropriate turn-around time in returning a call or replying to an inquiry of some kind typically means that either they don’t have the proper staff to assist them with their daily duties as a property manager or it might also mean that their priorities are elsewhere.

#4: Do they have online reviews?

Take the time to read the reviews on your prospective property manager’s Google profile and social media accounts. Weigh the negative reviews with the positive reviews, and make an informed decision on whether to move forward with that property manager.

#5: How does their lease stack up?

It’s incredibly important that you have a property manager who understands local laws and can create leases that keep you compliant while protecting your interests. There are many leases available for download on the internet that don’t property protect you or your tenant. It pays to work with a qualified professional to avoid costly legal issues in the future.

Considering investing in a rental property? Schedule a free consultation with RentWise Property Management.

Filed Under: Investment Property, Property Management Tagged With: boise, caldwell, eagle, hiring, home, investment, investment property, investor, kuna, management, meridian, middleton, nampa, property managment, rental, rents, rentwise, rentwisepm, technology, tenants, treasure valley

  • « Previous Page
  • 1
  • …
  • 3
  • 4
  • 5

What is my property worth

    Inquire About Our Services


    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

    Equal Housing Opportunitiy   RMP NARPM   NARPM   Meridian Chamber of Commerce Logo
    Copyright © 2023 RentWise Property Management
    All Rights Reserved · Privacy Policy Boise · Meridian · Eagle · Kuna · Star · Nampa · Caldwell · Middleton
    This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.