Property Owner FAQs

Welcome to our Property Owner FAQs page! Here, you’ll find answers to the most commonly asked questions about our property management services. Whether you’re new to working with us or have specific inquiries about our processes, fees, or services, this resource is designed to provide you with the information you need. If you have any additional questions or need further assistance, please don’t hesitate to reach out to our team.

How much does an eviction cost?

An uncontested eviction usually costs about $500, whereas a contested eviction can cost up to $2500.

What does Keyrenter Property Management need to start managing my property?

In order for us to begin the process of managing your property we need the following: Complete the online Owner Property Information Data form | Executed property management agreement with accompanying W9 | Keys to the property, including mail box keys, if applicable | Garage door openers, if applicable | Certificate of insurance, with Keyrenter Property Management as an additional insured

Why does Keyrenter Boise pay owners at the end of the month?

In our pursuit of enhancing clarity and efficiency in financial management, we’ve adopted Full Month Accounting. This approach aligns the processing of statements and payouts with the calendar month, allowing us to provide you with a clear, easy-to-understand financial overview from the 1st to the end of each month.

This method eliminates the confusion and complexity associated with mid-month accounting, where overlapping statement periods often lead to misunderstandings. By consolidating all transactions and financial activities within a single month, we ensure that your financial statements are straightforward, aiding in more accurate tax filing and financial planning.

Key benefits include:

  • Consistent Early Month Payouts: You receive your funds at the beginning of each month, well before any mortgage due dates, ensuring peace of mind and financial predictability.
  • Simplified Statements: Financial statements cover a clear, single-month period, making them easier to understand and manage.
  • Efficient Handling of Expenses and Repairs: All payments, including utilities and repair bills, are settled by month-end, ensuring that funds are readily available for prompt payment to vendors and contractors.

Regarding concerns about interest earned on held funds, it’s important to note that any interest accrued in property management trust accounts is minimal and typically offsets banking costs, not generating significant income for the property management company.

We understand the initial adjustment to this system may require a period of financial acclimatization. However, this model is designed to foster financial stability and predictability, ensuring that managing your rental property is as seamless and stress-free as possible. Adopting this approach is part of our commitment to upholding our Core Values, especially in ensuring transparency, professionalism, and prioritizing our relationships with property owners by providing the best possible service.

How much notice does a resident have to give before they can properly vacate a property?

Our lease provides that the resident give a minimum 30 day written notice that the lease will be terminated.

How are Security Deposits handled?

Keyrenter Property Management will require security deposits, usually an amount that is equal to 75-100% of one month’s rent, from all residents. These funds are held in escrow in a real estate trust account. Security deposits cannot be disbursed until the resident vacates at which time a disposition of funds is processed.

Can I enter my property after it is rented?

We do not enter the property and recommend the owner not enter the property except for inspections, in emergency situations or when repairs have been requested by the resident. If you sign up for our inspection program, Keyrenter will conduct interior/exterior inspections of the property every six months. History has shown that repeated disturbances prompt residents to become unhappy and not be as willing to renew their leases. We usually try to give the resident 24 hours notice before we enter unless it is an emergency situation.

What are the areas serviced by Keyrenter Boise Property Management?

Keyrenter Boise serves the following areas in Idaho: Boise Caldwell Eagle Garden City Kuna Meridian Middleton Nampa Star Treasure Valley

Can I say that I do not want any pets or smokers in the house? How about children?

Pet owners are not a protected class. However, by eliminating them you are likely eliminating up to 75% of the people in the market for a rental house! Being open to pets does make your property available to more potential renters. Additional deposits for pets generally run $350 per pet. However, if you feel very strongly about this issue, we will agree not to show your property to anyone with a pet. All of our properties prohibit smoking, in the interest of protecting your investment, as well as the health of the neighborhood. Children come under the protected class of “familial status” and it is not possible to discriminate in this way. Our application forms do not ask number or ages of any children.

What needs to be done to my house before it is ready to rent?

The better condition that a house is in, the better quality tenant that it will attract. Your home must be left in professionally cleaned condition as the tenants will be paying a non-refundable cleaning fee. Your Property Manager prefers to arrange this cleaning to insure that the cleaning guidelines are strictly followed. The carpets must be freshly cleaned and all debris and personal belonging removed from the house. It is not necessary to paint automatically, but you should consider painting any room that has dirty or marred walls. A neutral color is best. Your Property Manager will be happy to discuss any necessary repairs or painting with you. Neutral window coverings such as blinds should be left, but not curtains that match a particular bedspread or couch. Tenants moving into a rental property do expect some sort of window coverings to be provided for privacy and safety. The tenants are generally requested to maintain the yard in the condition it is provided to them. Therefore, the yard should be freshly mowed, weeded, trimmed and the leaves and debris removed.

Can Keyrenter Property Management help me buy or sell investment property?

Yes, with Keyrenter Real Estate! We are constantly assisting our clients to either sell their rentals, or buy more investment properties. With competitive rates and innovative strategies, we guarantee to save you money and maximize your return! Give our real estate team a call today!

How does Keyrenter Property Management communicate with their owners?

We believe in prompt and thorough communication with our clients. Every staff member has their own telephone extension, voice mail, and e-mail. We send out monthly statements and have automated alerts and notifications in an effort to keep our clients informed. Here are some of the instances that we will initiate additional communication: Leasing, Notice to vacate from tenant, Tenant move outs, Eviction Summary, Lease renewals, Extraordinary maintenance items

How often do you inspect the properties you manage?

• Move-In Inspections: We complete a detailed inspection when the resident moves in, documenting the condition of the property to establish a baseline for future comparisons. • Move-Out Inspections: At move-out, we inspect the property to check for any damage beyond normal wear and tear, ensuring a fair and accurate security deposit return. • Annual Inspections (90-120 Days Before Lease Expiration): We conduct a comprehensive inspection 90-120 days prior to the lease expiration. This allows us to ensure the property is well-maintained and identify any issues that may need to be addressed before the lease is renewed. • Landscape Drive-bys (Every 2-3 Months): We perform regular drive-by inspections every 2-3 months to assess the exterior and landscaping, ensuring the property’s curb appeal and overall condition are up to standard. • Issue-Driven Inspections: If any maintenance requests or concerns arise, we conduct targeted inspections to resolve specific issues promptly. This schedule allows us to maintain the property’s condition and provide proactive service to both owners and residents.

Will you pay my monthly bills for me?

Yes, through our accounting system we can easily pay most of your monthly bills. Typically our owners will pay HOA dues and mortgages. We pay bills on the 1st of each month.

What is included in your property management services?

Comprehensive Marketing: We use various platforms and professional photography to ensure maximum exposure and attract quality tenants quickly. Tenant Screening: We conduct thorough background checks, including credit, criminal, and rental history, to find reliable tenants. Lease Preparation and Signing: We handle all lease documentation, ensuring it complies with legal standards and protects your interests. Maintenance and Repairs: We coordinate all maintenance and repairs, using trusted vendors and responding promptly to tenant requests. Rent Collection: We manage rent collection efficiently, offering online payment options for tenants and ensuring timely disbursement to owners. Financial Reporting: We provide detailed monthly financial statements and an annual summary to keep you informed about your property’s performance. Tenant Relations: We manage all tenant communications, addressing concerns and fostering positive relationships to encourage long-term tenancy. Legal Compliance: We stay updated on local, state, and federal laws to ensure your property complies with all regulations. Eviction Process: If necessary, we handle the eviction process professionally, adhering to legal procedures to minimize your risk and expenses. 24/7 Emergency Services: We offer around-the-clock emergency services to handle urgent issues and maintain tenant satisfaction. By offering these comprehensive services, we aim to maximize your property’s profitability while minimizing your stress and involvement.

What is RUBS?

RUBS, or Ratio Utility Billing System, is a fair and efficient method we use to allocate utility costs among tenants when individual metering isn’t possible. We base utility billing on the number of occupants per unit, ensuring that utility expenses are shared equitably. This approach reflects actual usage more closely than flat-rate billing, promoting fairness and encouraging conservation. Adopting RUBS aligns with our core values of transparency, customer service, and doing the right thing, as it provides a clear, understandable way for tenants to see how their utility costs are determined. It also mitigates risk by ensuring no one is unfairly burdened with disproportionate utility costs. Through RUBS, we maintain our commitment to building strong relationships and trust with our tenants, ensuring everyone pays their fair share based on a reasonable and transparent system.

How will you find tenants for my house? How long will it take?

We know the importance of answering the phone every time it rings, especially when it comes to renting properties. We answer the phone and show properties six days a week from 8:30am till 5pm. This is one of the reasons we have the lowest vacancy rate in Boise and the surrounding areas. Your property, along with photos, will be advertised on our website. It will also be posted on over 20 additional websites. A yard sign will be placed immediately as well. A Property Information Sheet will be prepared for your property with all the necessary information. It normally takes two to four weeks to rent a home. It sometimes takes longer in the winter. A home goes on the list of available properties as soon as we receive notice from the existing tenant.

For how much can my investment property lease?

Your lease rate is going to be determined by several market factors including the condition of the property, location, and the rental rates for competing homes in the immediate area. Unfortunately, the markets that dictate lease rates vary vastly from the markets that influence value of properties. Please contact our office and we can discuss this with you as it relates to your specific property.

How does Keyrenter Property Management handle evictions?

We are proud of the fact that we have an extremely low eviction rate. But when an eviction for non payment does come up we follow the following process. On or around the 7th of every month Keyrenter Property Management will post 3-Day Pay or Vacate notice per state law. After 72 hours passes we can file for eviction. We communicate and make final decisions with our clients regarding the eviction. When filing with the courts and pursuing an eviction, our legal counsel handles the process for you.

How do I pay management fees?

Management fees are deducted from your monthly equity distributions.

Why should I use a property manager to manage my property?

There are many reasons landlords hire property managers, below are some of the most common: Landlords value their time and usually have full-time responsibilities outside of owning rentals property. As professionals, we manage rentals day-in-day-out; it’s what we do and we are great at! Landlords generally don’t have a full understanding of local and federal laws and statutes. This lack of knowledge can cost a landlord thousands in costly mistakes. With a legal team and constant education and involvement on current issues, as a property management company in Idaho we are better equipped to solve complex situations. We understand and apply the correct federal, state, and local laws, keeping you and your investment out of trouble. We know the local market, have an extensive network of contacts, and have advertising resources available to us at discounted rates. This allows us to effectively market your vacant home to prospective residents to get it filled. DIY Landlords these days need be skilled in Advertising, Photography, Marketing, Sales, Repairs, Project Mgmt, Customer Service, Conflict Resolution, Legal Proceedings, and many other areas. Keyrenter is all that and more!

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999 W Main St STE 100, Boise, ID 83702, United States

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