New Owners Overview
Greetings from Park Place Property Management of Idaho.
We have been managing residential properties in the Treasure Valley for more than
seven years. Our customized approach to rental property management has positioned
us as one of the premier rental property management companies in Idaho. With more
than 1200 rental properties currently managed and accreditation with the Better Business Bureau,
IREM, and NARPM,
you can be assured that your investment property rests in the hands of a solid company
with staying power.
Benefits you can expect from Park Place Property Management
include and are not limited to: Twenty-eight full time employees with expert knowledge
of the rental industry who keep communication at the forefront of every issue, a
quick response maintenance staff and detailed accounting for your rental property.
This will ensure a maximum return on your investment and optimize your tax benefit.
In short, we take your investment as seriously as you do.
Thank you for your inquiry into Park Place Property
Management. We look forward to getting to know you and your rental property. Please
review the services we offer and the reasons you need to go no further in selecting
a rental property management company. Call or email today to sign up with the only
rental property management company you will ever need.
Owner services:
We Develop a Fair Market Rental Budget Professional
Leasing and Rental property management services for:
- Triplexes
- Fourplexes
- Apartments
- Homes
- Town houses
- Condos
- Duplexes
We offer:
Call or email today to sign up with the only property management company you will ever need.
(208) 377-3227 pppm@parkplaceid.com
Want to know the latest news in real estate and the rental market? Subscribe to our newsletter.
We serve Boise, Eagle, Meridian, Star, Nampa, Caldwell,
Kuna and all Treasure Valley areas.
Rental Property Accounting
Park Place Property Management utilizes
a very robust and comprehensive double entry accounting system to track all transactions
for our clients and rental properties.
- When we receive payments, the item is scanned and attached to the payee's account
for record keeping and immediately deposited into our insured rental account.
-
We provide detailed monthly statements for each one of our rental properties to
help our clients stay informed and assist in tax preparation. Included in our monthly
statements is a year to date column, as well.
- There are approximately 50 additional
reports available via e-mail to suit your needs
- Park Place Property Management
is covered by a general liability, errors and omissions, and workman's compensation
insurance policy. To obtain a copy of our certificate of insurance contact our office.
-
We direct deposit our client's monthly equity distributions around the 10th day
of each month with the assistance of our banks treasury services division. This
eliminates the possibility of lost items in the mail and places the immediately
available funds in our client's accounts several days quicker than mailing checks.
Learn more about the benefits of signing up for direct desposit.
Download our Direct Deposit Form.
Download our Owner Statement FAQ document.
Rental Property Maintenance
Park Place Property Management believes a appropriately maintained rental property is the best way to maximize the return of the investment. Well maintained properties not only rent for a premium, they also rent quicker, reducing costs associated with vacancy. When owners utilize Park Place Rental Property Maintenance, they can look forward to the prompt and quality performance of all the maintenance services we provide.
Park Place Property Management has a full maintenance crew that specializes is a variety of repair needs. HVAC, appliance repair, electrical, roofing, plumbing, and basic carpentry are just a short list of all the capabilities of our maintenance crew. When it comes to housing, there isn't something we can't fix. We negotiate the best prices from all our suppliers so you can rest-assured that your property is maintained properly and you get the best return on your investment possible.
If it's something outside our area of expertise, we partner with some of the best contractors in the valley to assist us. You can bet that not only do they provide a level of service you can expect from the Park Place Staff, but the negotiated rates to match!
Quick access to maintenance is one of the key aspects to reducing owner expense and keeping tenants happy. That's why Park Place Maintenance is available 24 hours a day, 7 days a week, all year round. Not only are our technicians friendly and professionally certified, but our rates are extremely competitive. See for yourself:
Service |
Park Place |
Other Certified Company |
| Plumbing |
$55 an hour |
$75 service charge + hourly |
| Electrical |
$55 an hour |
$90 an hour |
| HVAC |
$75 an hour |
$78 an hour |
| Appliance Repair |
$75 an hour |
$105 an hour |
If you have specific questions or concerns regarding our maintenance, feel free to view our Frequently Asked Questions page. You may also contact Troy Stone, our maintenance manager, if you think it may be something out of the ordinary.
Rental Property Advertising
We advertise all of our properties in the most comprehensive and proven ways in
our market. Please find below some of the main ways in which we market our properties:
Internet
We recognize that the Internet is quickly becoming the most widely used source for
procuring real estate information. Ten years ago, 90% of people utilized the newspaper for hunting down rentals. Today, 95% of people track down real estate opportunites by means of the internet. For this reason we market your property on some
of the most widely used real estate websites. Here is a small sample of the websites
we use, please contact us for a full list of all sites.
Yard Signs
Our signs are placed in a property's yard the day it becomes vacant. They are the
2nd most important marketing tool we use.
ParkPlaceID.com
All of our vacant properties are listed on our website and available 24 hrs a day
7 days a week. Our site gets an average of 20,000 hits a week along with a bonus of 4,000 weekly views on our mobile site. In addition, our website includes other valuable information to assist
our clients and residents with their informational needs, such as maintenance requests,
payments, local area links, and frequently asked questions.
Interior Photos
Interior and exterior photographs are taken for all of our properties so they can
be marketed to their maximum potential and let their interior features shine. These
photographs are placed on our website and many other sites.
Virtual Tours
On many of our listings we have links for potential tenants to view a high-definition,
narrated, virtual walk-through of our listings.
Referrals
As a member of BNI, the largest Business Networking organization in the world,
as well as
NARPM, National Association of Resident Property Managers, and
IREM, Institute
of Real Estate Management, we have long standing relationships with the local realtors
and many other professionals in need of housing.
Property Investor FAQ
Why should I use a professional to manage my investment?
While the reasons our clients choose professional property management vary, here
are some of the key reasons many people elect professional management over self-management:
- We handle maintenance and emergency repairs in-house, allowing you to sleep at night
and save money.
- We enforce collection of rents and serve the proper notices upon failure to pay.
- 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.
- After you add up the increased rent we can often command, the discounts you'll receive
on advertising, and the company rate we get on repairs, you'll often make more money
than if you managed the property yourself!
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.
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 7am till 9pm. This is one of the reasons we have the lowest vacancy
rate in the Treasure Valley.
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.
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 to75% 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.
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 Shearer & Bonney, P.C., Attorneys to do evictions unless
an owner can be present at court.
How much does an eviction cost?
An uncontested eviction will cost about $500. A contested eviction can cost up to
$2500.
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 an annual fee of only $69, this program will cover the
cost of virtually all evictions. This could save you as much as $2,500.00 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
-
ACH Authorization
- Lead Based
Paint Form, 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.
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.
