Management 101

RSI will be posting a series of blogs designed to address issues that face property owners. Each of the blog posts will talk about a specific issue such as frozen pipes, crime and many other. Make sure you follow this blog to stay in the loop.

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THE SNOWBALL EFFECT…WHY NOT TO RUN ONLY ONE SCREENING REPORT

This time of year is financially tough on most people. As a landlord, you may be tempted to give possible tenants a break. By screening only one applicant (instead of each adult on the application) the screening fee is greatly reduced, but so then, is your security. This seemingly small moment of generosity quickly turns into an overwhelming problem. Let’s just look at the facts: If your possible tenant is having trouble paying a screening fee, they are probably going to have trouble paying you rent. If your tenants get to pick and choose who among them get screened, then it is very easy to hide a criminal record or bad credit. If you are selective about whom you screen and to what degree, you are opening yourself up to a possible Fair Housing lawsuit.   At RSI we advise all of our clients to screen each person over the age of 18 who will be residing on the property. That means that on any given application you would screen each person in ...
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The election and you!

Hello Apartment Industry Advocates! With the election a mere five weeks away, it seems appropriate to devote this edition of the Apartment Industry Mobilization Service (AIMS) communication to our role as advocates for the apartment industry in the upcoming election. There is no denying it – this year’s election has the capacity to impact every level of government. Not only will control of the White House and House and Senate be decided on Election Day, but 11 governors and numerous state legislatures, city councils and mayors’ races, 166 statewide initiatives in 35 states and a staggering number of local community questions will also be determined. Although media attention may be focused on the presidential election, virtually everything federal, state and local policymakers do, or don’t do, impacts your business and your bottom line. So, no matter which side of the political aisle you’re on, your participation and vote on all these ballot items are vita...
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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....
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