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First Rate Property Management Blog

4th Quarter Vacancy and Rental Rates Are In

Blog Post 4th Quarter Vacancy and Rental Rates Are In
By Melissa Sharone Thursday, January 18, 2018
The Southwest Idaho Chapter of Narpm just completed its 4th quarter Vacancy Survey.  The resutls show a slight increase in vacancy but rental rates are still going strong.  The overall vacancy for the treasure valley is still pretty low compared to past years.  The...
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Maximizing Rents – Part 2 - What you should consider

Blog Post Maximizing Rents – Part 2 - What you should consider
By Melissa S. Tuesday, January 3, 2017
In Part 1 of this blog series, Melissa explained reported rents are not effective rents.  There could be back-end concession or other facts that overstate rents.  Landlords should always have their property manager provide a market analysis before considering changes.In...
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Maximizing Rents - Part 1 - What You See May Not Be What You Get

Blog Post Maximizing Rents - Part 1 - What You See May Not Be What You Get
By Melissa S. Monday, January 2, 2017
Like many parts of the county, the Boise area is seeing record high rents and low vacancies. Rents within our own management portfolio grew well over 10% on average this year. At some point, the rental market should stabilize. In the meantime, it is not unreasonable for landlords...
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Insurance Companies Drop Properties with Section 8 Tenants

Blog Post Insurance Companies Drop Properties with Section 8 Tenants
By Melissa S. Sunday, January 1, 2017
Attached is a report that was forwarded to me from a local fair housing advocate. Evidently there are federal complaints that allege that, once insurance providers become aware of the presence of Section 8 tenants at an insured property, they have either canceled the existing pro...
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Instant Tenant Screenings Are TV Dinners

Blog Post Instant Tenant Screenings Are TV Dinners
By Melissa S. Sunday, January 1, 2017
In the past, we've discussed many technology changes within the property management industry. These changes in general reduce a manager's workload and help facilitate that need for something "instant." Instant and online screening are good examples of where tech...
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Who's #1 in Residential Income Properties

Blog Post Who's #1 in Residential Income Properties
By Melissa S. Sunday, January 1, 2017
It was just over ten years ago that I joined Swope Investment Properties. Prior to joining Swope Investment Properties, I, through First Rate Property Management, managed many of Mike Swope's properties. Mike and I had also invested in some four-plexes together. It's...
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Feds Change Water Heaters

Blog Post Feds Change Water Heaters
By Melissa S. Sunday, January 1, 2017
The company that handles our after-hours maintenance calls, NightTenders, sends out certain maintenance alerts. The most recent was from the US Department of Energy for improved energy efficiency for water heaters that goes into effect as of April 16, 2015. This change will ...
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Below is a link to a Wall Street Journal article...

Blog Post Below is a link to a Wall Street Journal article...
By Melissa S. Sunday, January 1, 2017
That article discussed the current rental investment market. For the most part, I agree with what the article says. There is no doubt that at today’s prices, the right investment property can produce a great return. I love the example of the California investors who are boa...
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$8K Housing Credit Termination causing some urgency with tenants

Blog Post $8K Housing Credit Termination causing some urgency with tenants
By Melissa S. Sunday, January 1, 2017
In order to receive the $8,000 Housing Tax Credit first time home buyers need to be under contract by the end of April and closed by the end of June. Based on the number of tenants giving First Rate Property Management notice to vacate due to buying a home, there seems to be a se...
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War Is Declared on Fake Assistance Animals

Blog Post War Is Declared on Fake Assistance Animals
By Melissa S. Sunday, January 1, 2017
Before the holidays we blogged about a potential law making it illegal to lie about the need for an assistance animal. Maybe it was the photo, but for whatever reason that post got the most attention of any blog entry before. I guess I finally got to see sensationalism at work. A...
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