Prospective Owners

New Owners Overview

Greetings from Park Place Property Management of Idaho. We have been managing residential properties in the Treasure Valley for more than ten 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 2,700 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: over forty 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 full service residential property management services for:

  • Single Family HomesHow Does Your Property Manager Stack Up?
  • Apartments
  • Duplexes
  • Triplexes
  • Fourplexes
  • Town houses
  • Condos

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

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We serve Boise, Eagle, Meridian, Star, Nampa, Caldwell, Kuna and all Treasure Valley areas.

Please fill out the form below to begin the process of becoming a Park Place client.
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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 immediately entered in the payee's account for record keeping and 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 offer direct deposit of 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.
Sign Up for Direct Deposit now.

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 our maintenance department 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:

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.

3D Interactive Tours

As an upgrade option, Park Place has partnered with Matterport to bring your property listings to life. These 3D tours capture real spaces in perfect interactive 3D. Tours allow your prospects to get a bird's eye view or walk through every room as if they were there. Take a look at one of our tours to check out the game changing immersive experience. Take a tour
3D Tour Pricing
$190   1,000 sq. ft. or less
$240  2,000 sq. ft. or less
$290   3,000 sq. ft. or less

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.

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.


Craigslist
Rentals.com FaceBook Youtube
FrontDoor powered by HGTV Google base Hotpads.com - The place to find your place

oodle Listpic
Backpage Zillow.com
Trulia - real estate search Twitter.com Vast.com







Property Investor FAQ

Why should I use a professional to manage my investment?
What needs to be done to my house before it is ready to rent?
How will you find tenants for my house? How long will it take?
Can I say that I do not want any pets or smokers in the house? How about children?
How does Park Place Property Management communicate with their owners?
How does Park Place Property Management handle evictions?
How much does an eviction 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?
How much can my investment property lease for?
Can Park Place Property Management help me buy or sell investment property?

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 utilizes Flat Fee 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.

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?

We are able to pay some bills out of the rental income on your behalf, for more details on which bills please contact your property manager

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.

Park Place Property Management | 625 S. Stratford Dr. Suite 200 | Meridian, Idaho. 83642 | Phone: (208) 377-3227 Fax: (208) 376-3884 | pppm@parkplaceid.com
Rental Property Management Serving Boise | Meridian | Nampa | Kuna | Eagle | Star | Caldwell