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Showing posts from October, 2013

HOME TEST-DRIVES ARE HAPPENING IN THE HOUSING MARKET…COULD THE PATH BE PAVED FOR THE NEXT BIG TREND IN THE RENTAL INDUSTRY?

A new trend in the housing market allows potential home buyers to spend time in a home before buying it…a test drive of sorts. This movement has become increasingly popular; the practice already occurring in markets from New Jersey to Colorado.
The arrangement usually allows for around 12 hours (all day or over-night) in the home without the pressure of a hovering realtor or homeowner. Home buyers are able to relax, listen for noisy neighbors, leaky pipes, air traffic or drafty windows. They seem to love the idea as they are able to make a more informed decision and get a real feel for life in that particular space.
Would the same principal work well for the rental industry? Having the option available may be a powerful draw for potential renters and displays a healthy confidence in the quality of the rental property itself. As a property owner or manager, there may be a few concerns about how to best protect your investment while allowing access to your property. Would any prescreen…

Protect Yourself From Discrimination Lawsuits....

Documented Criteria is Essential when Screening Possible Tenants It is not only fundamentally important to screen possible tenants in order to protect your property, but how you outline your screening criteria can be essential to protecting yourself.
As a landlord, you need only accomplish one easy task, do it consistently, and you can avoid the headache and financial drain of this legal vulnerability.
Document your screening criteria. Though your criteria may vary greatly from another landlord’s criteria, all documented criteria should:
1.)Comply with federal, state and local laws in addition to fair housing requirements. Information specific to Colorado can be found at: http://www.coloradoattorneygeneral.gov/sites/default/files/uploads/identity_theft/CoConsCreditRepAct.pdf.
If you are not certain that your criteria are in compliance with regulations, be sure to have an attorney review the screening document and offer advice.
2.)Depend on quantifiable and verifiable data to effectively e…

Low Income Housing Limits to Be Waived For Colorado Disaster Victims

Issue Number:    IR-2013-79
Inside This Issue:  Low Income Housing Limits to Be Waived For Colorado Disaster Victims
WASHINGTON — The Internal Revenue Service announced today that it is waiving certain limitations for projects financed with low-income housing tax credits or exempt facility bonds so that owners and operators of these facilities anywhere in the nation can provide housing to victims of severe storms, flooding, landslides and mudslides in Colorado that began Sept. 11.
Because of the widespread devastation to housing caused by storms and flooding, the IRS will temporarily suspend certain limitations for qualified low-income housing projects that house people displaced by the storms and flooding. The action will expand the availability of housing for disaster victims and their families. Further details are available in Notice 2013-63 and Notice 2013-64, posted today on IRS.gov.
The IRS recently announced other relief available to affected taxpayers in the presiden…

HOW TO CHOOSE THE RIGHT SCREENING COMPANY….

As with most things, there are many options available when it comes to screening possible tenants. Today landlords have even more options then ever before and the results and effort required can range greatly from a good ol’ gut check to having tenants supply their own credit reports or digging a little deeper and having a screening company verify application information. You may feel overwhelmed and unsure about how to get the best information for the least amount of money.


Having been in the industry for 29 years, RSI employees have seen it all. We have heard countless horror stories about how massively other screening measures have failed a given landlord. And while we always say “go with your gut” the advice is constantly balanced with the addendum “be sure to check the facts”.

Here is a step by step guide to accomplishing exactly that:

1.)Do not put all the power in the tenant’s hands!
Many new screening companies offer tenant driven background screening. The setup process is le…