Tuesday, November 15, 2011

Eeny, Meeny, Miny, Moe

At Rental Services we work with lots of first time investment property owners.  Most have little or no experience when it comes to property management.  This leads to several mistakes that can cost a new property owner time and money.

One of the most common mistakes that many new landlords make is not screening all of the residents that move into the rental property.  Just because one person makes enough money to pay the rent doesn’t mean you don’t need to screen the other occupants.  If you don’t check everyone I guarantee you will eventually have problems with registered sex offenders and convicted felons moving in as occupants.

Another problem is using the wrong lease agreement or not using one at all.  Make sure you have the applicants sign a lease before they move-in.  Just like resident screening, make sure everyone who lives at the property and is over the age of eighteen signs the lease.  Many states have specific laws that govern the lease.  Make sure the lease you’re using covers the specific laws for your state.  If you’re not sure many local apartment associations will provide the agreements for a small fee.

The move-in and move-out check list is often skipped by new landlords.  If you don’t use this form you’re shooting yourself in the foot.  Documenting the condition in writing when your renters move-in and after they move-out makes it easy to calculate damages and if you have to go to court, always impresses the judge.

If you’re new to property management I recommend taking a property management class.  Most states have trade organizations that offer support to property owners.  Local trade associations can help you build a solid foundation for managing your investment properties. 

Wednesday, October 12, 2011

Can your applicants apply online?

If the answer is NO, you may want to check this out. Rental Services, Inc. has just rolled out the RSI Quick Application.  

The RSI Quick Application is a new and exciting tool that can be used in place of a standard rental application. RSI Quick App allows your prospective renters to apply online! Once your property is setup, you can send your applicant to www.rsiquickapp.com. They select your property, complete the customizable online application and pay for the screening fee with a credit card. The application is then sent to RSI for processing and you receive an email notification when the report is ready to be viewed.

Quick App can also be setup as part of your company’s website. Applicants can apply online from your website 24/7. We will provide a custom URL that can be added to your website. The URL link will list the properties in your portfolio. 

The RSI Quick App can be setup with a customizable rental application that can even include your company’s specific business forms. You can setup a way to collect the application fee or have us do it for you. RSI Quick App provides a variety of options to meet your needs.

Contact the RSI office or visit www.erentalservicesinc.com for more information.

Monday, October 3, 2011

Renting To Young Adults


I recently read an opinion from a person in the apartment industry that I found to be interesting. He states that he has seen an alarming trend of younger and younger debtors sent to collection by apartment communities. People 18 and 19 years old may legally sign a contract but most won't understand or remember it. If no co-signor or guarantor is on the lease many people of this age are not responsible enough to be given control of an asset valued in the tens of thousands of dollars. I agree on face value. However, if you have strong rental criteria in place the age of the applicant shouldn’t matter. When your tenant screening company conducts the background check they should be verifying income, rental history, credit, evictions and criminal records. Match this information up with your criteria and you increase your odds of getting a good renter regardless of age.

Quality tenant screening and criteria decrease the chances of renting to individuals who can’t pay the rent. 

Friday, September 30, 2011

Social Network Background Checks

I read this online by Lester Rosen, Attorney at Law. I thought is was very eye opening.

Although employers may request that background screening firms perform this function, there are a number of drawbacks. First, a background screening firm does not have the same in-depth knowledge the employer has of the details of the position. In addition, if a social network background check is done by a background screening firm, the search falls under the federal Fair Credit Reporting Act (FCRA) which requires a background screening firm to maintain reasonable procedures for maximum possible accuracy. Because a background screening firm has no way of knowing if the online information is accurate, it is difficult for background screening firms to perform this service consistent with the FCRA. In other words, due to the FCRA, background screening firms may not be best suited to perform these types of ‘social network background check’ searches. 

Would your company make a hiring decision based on someones Facebook profile? Its my opinion that this type of search opens your screening company and you to possible litigation. Whats your thought on social network background checks?

Friday, August 19, 2011

Pink & Blue United Summer Soiree

A special message sent to RSI from one of our clients! It sounds like a great event.

Good morning Friends, Vendors and Associates:


I hope this letter finds you all well!


The reason for contacting you is I'm helping my brother with the marketing of his new foundation which helps people of both genders for expenses and treatment for individuals with breast, ovary, prostate or testicular cancer.


I know this may be late in getting this information to you but would like to ask if you could forward this information to the rest of the company. It would help with others learning about this organization, and having the opportunity to come to the inaugural gala next weekend.


My brother, Dr. Kelly Lennon MD., has two practices, one in Littleton and another in Castle Rock. He has served on the board of both Swedish and Littleton Hospitals.
Please take a moment to read about the benefits of Pink & Blue United below.


Any correspondence of passing the information along will be very helpful in getting the word out of this new organization.


Subject: Pink & Blue United Summer Soiree

Please join us as we celebrate Pink & Blue United's Inaugural Summer Soiree at The Ritz Carlton - Denver, August 27, 2011 at 6:00 p.m. Pink & Blue United (PBU) is a 501(c)3 non-profit foundation dedicated to providing financial support for living expenses and fertility preservation to individuals during their initial treatments for breast, ovary, prostate or testicular cancer.


While there are many great organizations out there to find a cure, Pink & Blue United sets itself apart by not only real time assistance but by Uniting the genders - no more seperation of "his" or "her" cancer. We believe we're all in this together!


PBU will help people struggling with their cancer diagnosis and living paycheck to paycheck with real time financial assistance today; it is structured to help with putting food on the table, help with the mortgage/rent and childcare. Additionally, it will provide funds for fertility preservation for those afflicted at the prime of their reproductive lives.


We have a great evening planned with Savory Food & Spirits, Good Laughs from 'The Comedy Works', Dancing and a Silent & Live Auction! We look forward to seeing you there - guaranteed to be fun & memorable!!


To register, visit www.blacktie-colorado.com/RSVP and enter the event code: PBUgala



Wednesday, July 27, 2011

Did you Know?

Dear RSI Client,

On June 25, 2011, the Social Security Administration (SSA) changed the way Social Security Numbers (SSN) are assigned. This change is known as "randomization."

What is Randomization?

The SSA traditionally assigned nine-digit SSNs in a particular pattern. Specifically, the first three digits indicated the state in which the consumer resided at the time the SSN was issued, and digits four - five indicated the year the SSN was issued.

Effective June 25th, the SSA changed its SSN assignment methodology to a randomized process. SSN randomization will affect the SSN assignment process in the following ways:

• Elimination of the geographical significance of the first three digits and any association with specific states.

• Elimination of any association with the number's date of issuance.

• Previously unassigned area numbers will be introduced for assignment, excluding area numbers 000, 666 and 900-999.

Now you know.

Friday, July 1, 2011

NAA Apartment Industry Mobilization Service Grassroots Program

Greetings Apartment Industry Advocates!

This is the second in a series of monthly communications to members of the Apartment Industry Mobilization Service (AIMS) to help you advocate for the apartment industry. This information will focus on our federal policy initiatives, the legislative process, important committees, key members of the House and Senate, and briefing materials. We hope you find this valuable and invite you to suggest other topics to cover.

This month our focus is a call to action! Now is the time to make your voice heard by meeting face to face with your members of Congress when they are in recess in August.

Many NAA members cannot travel to Washington, D.C., in March for the annual Capitol Conference lobby day. This is your opportunity to make your voice heard for nothing more than a little time and the cost of gas.

You may not think that your involvement will make a difference. Or, you may think you don’t have time even to set up a meeting – and even if you get one, what would you say?

NAA Government Affairs wants to make it easy for you. Here’s how:

Your involvement will make a difference. In fact, you have a seat at the head of the table! Among Congressional staff recently surveyed, 46 percent said that an “in-person constituent visit” will have “a lot” of influence on a member of Congress who is undecided on an issue. Another 51 percent said it will have “some” influence.

Information on how to plan and schedule your meeting in the district/state office is available below. Since the meeting will be held during the recess, you should schedule your meeting with the district/state office. At other times, the meeting should be set up through the Washington, D.C., office.

To help you prepare, issue talking points and issue fact sheets will be made available next month. If you still feel you need an “Inside-the-beltway” perspective for your meeting, we will do our best to arrange for a NAA/NMHC policy expert to be on the speaker phone for a two-way conference call.

If you are turned down for a meeting in the district/state office, you are still in luck. In 2010, the House of Representatives’ calendar had five district work periods. This year’s calendar has 13. That means Representatives have more time to participate in town hall meetings and local events – as well as more time to spend conversing with you in those venues.

Almost every member of Congress holds town hall meetings to take the pulse of their constituents. While they are considered an underutilized resource, the same survey reported that 87 percent of Congressional staff said that questions from constituents at town hall meetings had “a lot” or “some” influence on an undecided member of Congress.

To find out the date, time and location, check your local newspaper or the member of Congress’s website. However, it is best to contact your member of Congress’s district/state office. While some town hall meetings are open to everyone, keep in mind that some offices will only contact constituents who have signed up to be notified. Be careful to note if you need to register to attend, send an RSVP, or sign up to ask a question (the latter typically occurs on-site). Always provide your name and home address, telephone number and e-mail address. (This will be used to verify that you are a constituent.)

Events provide a great opportunity for two-way dialogue – especially if you’re the event’s host. Invite your member of Congress to tour your apartment community and meet with residents over an informal barbecue. Or, invite your Senator or Representative to speak at a breakfast with your employees.

Pitch the visit to your local newspapers and television stations. This type of face time with constituents makes for good news media coverage for both the member of Congress and you! (And if you are in an early primary state, you might be lucky enough to piggyback on a Republican presidential hopeful’s visit to town as well.

Always remember that your personal stories trump everything else you say. You don’t need to be an expert on federal issues affecting the industry, but rather a resource on your business and how a particular issue impacts it. Members of Congress want and need to benefit from your expertise and point of view. By doing so, you become a relied-upon source for future multifamily housing issues, and they become more knowledgeable about our industry and the impact of legislation on your livelihood.

Measure your success in increments over time. To oversimplify an arduous process, it can literally take years for most bills to become laws. Added to that, most proposals never pass. Those that do frequently are re-introduced numerous times over different legislative sessions. And that’s not taking into play the growing Election Day turnover in Congress. So celebrate the baby steps, such as when a U.S. Senator finally agrees to meet you after declining your requests for several years.
We’re looking forward to hearing about your plans for your meetings. Again, the recess is between August 8 and September 5 and it is important to schedule meetings as soon as possible. Please keep us posted!

Thank you for your attention to this e-mail. If you have questions or comments on any of the material contained in this message, please contact me at 703-797-0633 or Kathleen@naahq.org.

Good luck!


Kathleen Youngblood
Director, Political Affairs
National Apartment Association