How Much Do You Trust Your Property Manager?
At the beginning of this year Forbes published an article on data that had been collected by Gallup revealing most and least trusted professions. How, you might ask, is this relevant to property management? Sadly it has become relevant just recently when on June 11 a suit was filed alleging Meridian-based Paradigm Property Solutions, LLC, through its owner, Ronald Jaques, took as much as $750,000 to $1 million from property owners’ trust accounts and moved it to other accounts without permission.
When a company in an industry is accused of fraud, it can affect how people feel about the industry as a whole. To this point, I suggest events in recent years may well be an influence in why Judges, Clergy, Bankers, Newspaper Reporters, Local Officeholders, TV Reporters, Lawyers, Business Executives and Lobbyists all rank low in perceived honesty and ethical standards according to Gallup’s poll.
In Idaho there is no license requirement for the Property Management profession. Literally anyone can hang a shingle out and claim to be a property manager. There are, however national industry organizations that guide, educate and support this industry. The National Association of Residential Property Managers, (NARPM®), is one such organization. Property Management companies who wish to embrace good business practice, excel at their profession, and become a trusted resource supporting the investment real estate industry will align themselves with professional organizations and adopt systems and practices that meet or exceed ethical and business standards set by that organization. The professional designations awarded by NARPM® are earned with a combination of property management experience, NARPM® and industry education, and service to the association through volunteer activities. Marc Banner, owner of Realty Management Associates was implemental in starting the Southwest Idaho NARMP Chapter soon after launching his Property Management business almost 40-years ago. Marc has held positions on the NARPM® board over the years including the position of President for both the local chapter as well as the national organization. Marc teaches ethics classes for NARPM for the northwest NARPM® Chapters, and was the first property manager in Idaho to earn the MPM®, (Master Property Manager), designation. He has since been awarded the Residential Management Professional (RPM®) designation and Realty Management has earned the Certified Residential Management Company (CRMC®) certification which is only awarded to companies that have proved they have attained the highest levels of education and commitment in the property management field. This certification is only awarded after a detailed on-site examination of the company has been performed by a NARPM® auditor selected by the certification committee. This certification must be renewed annually and a review of the company’s procedures is performed every 3 years in order to maintain the certification. Only 3 property management companies in Idaho hold this prestigious certification.
So, despite a few rotten eggs, there are reputable Property Managers to be found, and Realty Management Associates ranks highly among them.
As to the professions of Judge, Clergy, Banking, Newspaper Reporting, Local Officials, TV Reporting, Legal, Business Executives and Lobbyists – I like to believe there are even still a few ethical professionals amongst them too! Well, maybe not lobbyists….
Pre-Scheduled Optional Services Schedule:
In July our vendors were finishing up:
Dryer Vent Clean out
Scheduled for July/August
Due to extreme demand on our vendors Crawl Space and Attic Inspections have been postponed to the Fall.
Fall services will also include: Gutter cleaning, fall landcape clean-up, fall lawn care, hot water heater service.
If you wish to elect to have one of more of these servcies for your property, and have not already submitted the Optional Services Survey form, please contact Spencer Henderson: firstname.lastname@example.org
Vendor billings for pre-elected optional maintenance items received prior to closing our books on the 25th, will be billed in August’s statement. Any billings received after the 25th of the month will appear in your September statement.
If you ever have questions about your statement, please contact Karen@rentalsinboise.com.
Our August Tenant Newsletter reminds tenants of our new maintenance/repair system. RMA is very excited about this new system. We believe it will improve the service our tenants receive while at the same time streamlining our maintenance system to be beneficial for all.
Our business feature is on Tasso. Boise’s newest lunch hotspot is serving up fresh flavors to the Downtown area. Tasso maintains a casual, yet refined feel. Dan Carruthers can be found cheerfully greeting customers through the kitchen window as he busily works his sandwich magic.
Employee Spotlight – Brandy Ker
Each morning Brandy arrives at the office to be greeted by a seemingly endless string of emails and phone messages to respond to. Inspired by her grandma who was a 3rd grade teacher, from a young age Brandy believed she too would be a teacher when she grew up. With a degree in Special Education, despite never having taught in a public school, I feel Brandy’s contribution to the success of our business is not too different from teaching. Interacting with prospective tenants searching for a new home, helping them navigate our automated systems, assisting them in gathering pertinent information required to apply for a rental, and answering their many questions, takes patience and a good ear for a variety of accents and varied English language abilities. After a typical busy day at the office, Brandy more than deserves to end her day unwinding in her hot tub, soaking the day’s stress away.
Aside from the skill sets Brandy brings to RMA, she has a side passion which takes a part of each of her day, writing developmental treatments for adults with disabilities. This work connects her to a cause she loves as well as her support of the Special Olympics. Brandy has two teenage daughters and they, along with her fiancé are her primary focus. A native Idahoan, Brandy never tires of exploring the Idaho mountains from the back of the family 4 wheeler. Family time at their lakeside cabin in the mountains, and time with friends enjoying good food with plenty of cool Corona Light accompanied by 4 lime wedges, (limes are a must!), rank highly amongst her favorite ways to spend time relaxing. Sunday mornings will find Brandy on her back patio, a cup of coffee in one hand and a good book in the other. When she’s not reading, she might be daydreaming of the places she plans to travel to in the future, and reminiscing about the Caribbean Islands she has already visited.
This newsletter is intended as a resource and communication platform for you. If there is a topic, relevant to the management of your investment property, that you would like me to write on, please let me know!