Current Owners FAQ
I have questions about my monthly statement, how do I get my questions answered?Who takes care of the yard and sprinkler turn-on and blow-out?
How does Park Place Property Management communicate with their owners?
How does Park Place Property Management Handle evictions?
How much does it cost?
What is eviction Protection?
How much can my investment property lease for?
Can Park Place Property Management help me buy or sell investment property?
How are Security Deposits handled?
Can I enter my property after it is rented?
How much notice does a resident have to give before they can properly vacate a property?
What does Park Place Property Management need to start managing my property?
How do I pay management fees?
Will you pay my monthly bills for me?
Can I view my account online
I have questions about my monthly statement, how do I get my questions answered?
You can contact us by email or call us Monday through Saturday 7 am till 7 pm MDT.
Who takes care of the yard and sprinkler turn-on and blow-out?
Typically in a single family home the tenant is responsible for the yard care. Multi family complexes are an expense of the owner or HOA. However, Park Place Property Management will spread weed and feed and turn on and blow out the sprinkler system.
How does Park Place 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 quarterly newsletters in an effort to keep our clients informed. Below are some of the instances that we will initiate additional communication:
- Eviction Summary
- Acceptable applications
- Notice to vacate from tenant
- What to expect when tenant moves out
- Lease renewals
- Extraordinary maintenance items
How does Park Place Property Management Handle evictions?
On or around the eighth of every month Park Place Property Management will post and mail a 72 Hour Notice to Pay or Quit. After 72 passes we can file for eviction. Unfortunately Idaho law prevents Park Place Property Management or anyone other than the owner or an attorney to represent the property in court. Park Place Property Management retains Rose Law Group to do evictions unless an owner can be present at court.
How much does an eviction cost?
An uncontested eviction will cost about $400 to $500. A contested eviction can cost up to $2000.
What is eviction Protection?
Evictions can happen to any landlord no matter how well a tenant is screened. Circumstances change in peoples lives and they are not able to pay the rent. This is especially true when people lose their jobs, go through divorce, or have a serious injury. When they aren't able to pay the rent they also find it difficult to move. When this happens the landlord has to go through a costly procedure of evicting the tenant.
Park Place Property Management has the solution. We have a cost effective program that protect our owners from the high cost and all the time consuming headaches of evicting a tenant. For a small annual fee of only $69, this program will cover the cost of virtually all evictions. This could save you between $500.00 to $2000.00 or more. The only part of an eviction that is not covered is a jury trial, should that become necessary. In the 12 years we have been doing evictions for our clients, we have never had to go through a jury trial. If that becomes necessary, we will let you know and try to negotiate a favorable settlement in your behalf.
It is standard for the Eviction Protection to be included with our property management agreement.
How much can my investment property lease for?
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.
Can Park Place Property Management help me buy or sell investment property?
Through our affiliation with reputable, experienced and established local REALTORS we can assist you in the acquisition and disposition of investment property. Should you have an established relationship with another REALTOR, we can assist you by working with them to make the process smooth.
How are Security Deposits handled?
Park Place Property Management will require security deposits, usually an amount that is equal to one month's rent, from all residents. These funds are held in a separate escrow account at an insured Mountain West Bank. Security deposits cannot be disbursed until the resident vacates and at that time, can only be disbursed to the owner or the resident.
Can I enter my property after it is rented?
We do not enter the property and recommend the owner not enter the property except in emergency situations or when repairs have been requested by the resident. Park Place will conduct interior 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.
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.
What does Park Place Property Management need to start managing my property?
In order for us to begin the process of managing your property we need the following:
- Executed property management agreement
- Keys to the property, including mail box keys, if applicable
- Garage door openers, if applicable
- Certificate of insurance, with Park Place Property Management, Inc as an additional insured
- IRS W-9
- Getting Started page submitted (link)
- ACH Authorization (link)
- Lead Based Paint Form (Link), if the property was built prior to 1978
How do I pay management fees?
Management fees are deducted from your monthly equity distributions.
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.
Can I view my account online?
Yes, our clients have full access to their accounts. You will see the same data that we have in the office and be able to prepare your own customized reports, 24 hours a day, 365 days a year.
