The RSI blog was created as a convenient way to share information and ideas that pertain to the multifamily housing industry and discuss employment screening best practices. As a full-service background screening company, Rental Services, Inc. knows the information we provide is key in your success, that’s why No One Checks Them Closer!
COLORADO NOW AN ATTRACTIVE LIMITED LIABILITY STATE
The Colorado Supreme Court recently ruled that owners and
managers of limited liability companies (LLC) now have less exposure to
personal liability and no fiduciary duty toward creditors should the company
Limited liability companies are primarily governed by each
state’s LLC Act and LLC operating agreement. It is in this way that courts
across the nation are being asked to determine a standard for LLC
accountability. This landmark ruling makes Colorado very attractive to potential owners
and managers forming new LLCs and serves as a precedent for other states.
The rental industry in Colorado could stand to benefit greatly
because of this appealing reduction to personal liability. Existing property
owners operating under LLC can now take a deep breath and new property owners
will be drawn to the state for its lower risk investment potential.
If you own rental property in the state of Colorado you need to make sure you’re aware of the new warrant of habitability statute that was past in 2008. As the end of 2009 approaches I still talk with property owners that are not aware of this rule. A complete copy of the House Bill is listed below for your review.
HOUSE BILL 08-1356
SECTION 1. 13-40-111 (1), Colorado Revised Statutes, is amended to read:
13-40-111. Issuance and return of summons. (1) Upon filing the complaint as provided in section 13-40-110, the clerk of the court or the attorney for the plaintiff shall issue a summons. The summons shall command the defendant to appear before the court at a place named in such summons and at a time and on a day which shall be not less than five business days nor more than ten calendar days from the day of issuing the same to answer the complaint of plaintiff. The summons shall also contain a statement addressed to the defendant stating: "If you fail to file with the cour…
Back in March of 2015 Equifax, Experian and TransUnion
launched a website, http://NationalConsumerAssistancePlan.com.
This website was setup to inform consumers about the implementation of the National
Consumer Assistance Plan. This mission of the NCAP was to make credit reports
more accurate and easier for consumers to correct mistakes found on their
credit report. This sounds great, but it has had a negative impact on property owners
conducting background checks.
On July 1, 2017, Equifax,
Experian and TransUnion began to exclude most public tax
lien and all civil judgment information that didn’t meet the new NCAP
standards. The new standard requires each credit bureau to remove records that did
not include a person’s name, address and either a Social Security number or
date of birth. It also requires Equifax, Experian and TransUnion to verify
public record information by visiting court houses every 90 days. When you
remove tax lien and civil judgment information from a consumer c…
Rental Services, Inc. is proud to announce that we’ve
entered into a strategic partnership with a leading property management
software company. This partnership allows RSI to offer cloud-based
property management software to each of our clients.
RSI Property Management Software provides solutions to various
aspects of property management.
When using the RSI Property Management Software, all monthly
charges and late fees are automatically billed to the tenant. There is no need
for Manager involvement or potential for human error on recurring charges. RSI
Property Management Software ensures that your tenants are being billed
accurately. Tenants are automatically billed based on your customized rules
ensuring late fees are applied.
Post vacancies to popular website like Apartments.com,
Apartment Finders, Apartment Living, Rent Jungle and Oodle.
Track work orders and maintenance requests online from the web-based
Let Tenants pay rent online using their smart phones or