Prospective
Owner FAQs

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.

Back to Top

Advertising Owner Forms