Boise Idaho Residential Vacancy Rate
Currently First Rate Property Managements vacancy rate is 1.2%. This is the 20th week in a row that we have had vacancy rates under 2%.
Fair Housing
Below is an article in yesterday's Wall Street Journal which addresses changes to how the Fair Housing Act perceives or determines if discrimination took place. It states that Landlords can be held guilty of discrimination, even if there was no intent to discriminate or even if the process is implemented in a non-discriminatory reason. This is concerning, because First Rate Property Management has a very detailed and thorough screening process. This process is needed to guarantee payment of rent each month, reduce chances of property damage, and to ensure the safety of neighboring tenants in apartments. For example, First Rate Property Management performs a thorough national criminal background check on all applicants. This article suggests that that standard can be questioned if that process limits the number of tenants within any of the protected classes. First Rate Property Management also requires some form of government issued ID to protect our owners from bad people who make fake IDs assuming another person’s identify. First Rate Property Management also requires all applicants to meet a certain income level in order to qualify. This too can be challenged. The article suggests that Landlords can either remove legitimate screening criteria or use a double standard of discrimination to make sure that an appropriate number of tenants are within the protected classes.
If you needed another reason to hire a professional manager to protect the investor, this certainly adds to that list.