Realty Management Associates, Inc., CRMC® (RMA) has been in the business of management of single-family homes, townhouses, condominiums and small apartment properties since 1980. RMA has maintained a history of solid, long-term client relationships throughout Boise and surrounding areas.
RMA works on a business model of percent of income plus reasonable fixed fees for specific services as they occur. These fixed fee services are: Annual Admin, Lease up, Lease renewal, Advertising. The management percentage ranges from 6% to 8% and will depend on the number of doors you want us to manage, whether they are single family or multiplex units, and accumulative rental income. If you have 3 or more 4plex (or equivalent) buildings in the same community, you may qualify for our flat rate option. Our flat rate fee is calculated on an account by account basis. Please call us for a personalized quote.
We request a minimum of 2-weeks to complete the onboarding process. Scheduling walk throughs and rent ready work can only take place once the Management Agreement is completed and all requested documents are received in our office. Processing times can vary according to seasonality.
Current market conditions will always dictate how long it will take to rent out your rental. However, RMA as developed a marketing strategy that is designed to adjust to market reaction, thereby achieving a timely rental for the best possible rent.
RMA will conduct a rental market analysis to determine current rental value for your property. This analysis will encompass data including current comparable available rentals, quarterly vacancy and rent rate statistics for our area, community, neighborhood and desirability. You will be provided this analysis within 72 hours of when your ad is ready to go live. We will recommend a rent range designed to test the market by suggesting a high rent which could be higher than the market will allow, and a low rent which is intentionally set at a level lower than RMA believes the market dictates. With this range RMA is able to adjust rent on a weekly basis in response to market reaction, thereby achieving a timely rental, which is in the best interest of the owner.
Approximately 60% of the people who lease from us find us first via our Internet presence. Each ad on our website is syndicated across the Internet and appears on all the major national rental sites. These listings also link directly to schools, maps and city information. Approximately 80% of the people who we work with use our site to do advance “screening” of properties. Our second largest source of leads is our high-quality, metal signs. People drive through the neighborhoods where they want to live. Our signs display our logo, our name, our telephone number and our website address. We actively participate in professional networks within the Real Estate community. RMA also has established relationships with the major employers in the Greater Boise Valley community. We work closely with these professionals to assist them with housing needs for their clients and employees.
You may specify whether or not you want tenants with pets or if you are amenable to roommate tenancies. All our properties disallow any smoking in enclosed and attached structures. The Federal Fair Housing or local fair housing laws do not allow discrimination against any protected class. For example you cannot say you won’t rent to someone with/without children, people with disabilities, or people of a particular nationality or race. The more restrictions placed on tenant approval, the longer it will take to rent your property; we encourage a study of risk versus benefit when considering prospective tenants. We are professionals in leasing and tenant screening, and we have specific criteria that every applicant must meet in order to rent a property. Realty Management Associates will not knowingly place a high-risk tenant in your property.
Our screening process reports: rental payment history, national risk score, credit report, collection information, public record information, residence history, previous landlord verification, employment verification, social security alerts, and state wide criminal background check.
More than 95% of our tenants pay their rent on time. Rent is due on the first of each month and considered late after the fifth. If rent has not been paid by that time, we will take the first step in the eviction process, which is to contact the tenant. Unless satisfactory payment arrangements are made, RMA will deliver a “3-day Notice” to pay or vacate. The vast majority of Tenants will immediately pay upon receipt of this notice. If the tenant has not paid by the end of the 3-day notice period, with the owner’s approval we will instruct our attorney to file an Unlawful Detainer action. This is the court order to remove the tenant from the property and will occur within 12 days. We file Unlawful Detainer actions very infrequently. Unless you subscribe to Realty Management Associates’ Eviction Protection Service, all costs associated with an eviction are your responsibility.
The tenant is responsible for rent for the entire term of the lease. If they choose to vacate prior to the expiration date, they will be responsible for rent and other costs until a new tenancy is secured.
Utility services around the Treasure Valley vary from community to community. All tenants are required to put gas & electricity in their names and as often as possible water as well, these are services that can be shut off for non-payment with no effect to the owner. However sewer and trash cannot be terminated and a lien can be put on the property. With most single family homes we have a pass through utility charge that the tenants pay with their rent each month to cover this cost.
What you want is to have the rental in top marketing condition to reduce any vacancy period. Renters are very selective. They like neutral colors, a spotlessly clean appearance, and everything in good working order. We are not looking for Architectural Digest quality decorating….we are looking for a neutral, well maintained and clean property. We will work quickly to bring your property to that condition so that it needn’t sit vacant any longer than necessary.
Yes we do. When a tenant is in default for non-payment of rent, unless satisfactory payment arrangements are made, RMA will deliver a “3-day Notice” to pay or vacate. The vast majority of Tenants will immediately pay upon receipt of this notice. If the tenant has not paid by the end of the 3-day notice period, with the owner’s approval we will instruct our attorney to file an Unlawful Detainer action. This is the court order to remove the tenant from the property and will occur within 12 days. We file Unlawful Detainer actions very infrequently. Unless you subscribe to Realty Management Associates’ Eviction Protection Service, all costs associated with an eviction are your responsibility.
Yes we do. For a minimal cost of $90/year you will be protected to up to $875 in costs of an eviction due to non-payment of rent. You will have the opportunity to select this option at the time you draw up your Management Agreement with us. Properties with existing tenancies will have a 6-mo. waiting period before an eviction protection service can be initiated. Eviction protection is currently not offered for multiplex units.
Full Service, is just that. We take care of every aspect of your rental property. This includes, but may not be limited to: preparing the rental for marketing, advertising & marketing, tenant qualifying, drawing up lease documents, receiving rents, handling all maintenance calls, maintaining timely lease renewals, property rent-ready preparations when there is a tenant turnover, providing full accounting of your property income and expenses. Performing the move in and move out inspection surveys, periodic drive-by surveys, additional walk through surveys if circumstances warrant, scheduling for optional preventative maintenance work, and a full rental market analysis report for the initial marketing of a new property under our management. And of course, much of our time is spent maintaining excellent communication with owners, tenants and preferred vendors for all the various things that come up with a rental property.
Yes, you may. We offer what we call a “Lease Only, Tenant Finder” service. With this service we will advertise/market your rental, screen for qualified tenants, draw up a minimum term lease agreement and collect move-in funds. Once the tenant has moved into the property, we will release funds to you minus our fee which is equal to one half month’s rent plus the cost to advertise.
RMA services the Greater Boise Metro area. This includes: Boise, Garden City, Kuna, Meridian, Nampa, Caldwell, Middleton, Star and Eagle.
Yes, we’d be glad to. Once your management agreement is in place with our office, we can schedule a time for our property manager to walk through your rental with you, or, if you are out of the area, unaccompanied. The property manager will make recommendations on what may be needed to bring the property to rent-ready condition. You may choose to have our property manager handle the logistics of this work utilizing our preferred vendors, or you may elect to take care of the necessary items yourself. This service is included in our general management fees.
Yes, our property manager can handle the maintenance logistics utilizing our network of preferred vendors. This service is included in our general management fees. In some instances new properties coming under management require work beyond that which would be regarded as “basic rent-ready preparations”. This would include, but not be limited to: purchase and installation of new appliances, purchase and installation of sprinkler system and/or landscaping, extensive remodel or repair work, new roof installation. Where RMA solicits bids outside of our preferred vendor network, arranges for purchase, attends installations and oversees this work, a 10% project management fee, and/or in some cases an hourly fee may be charged.
Yes, we can. RMA, at no additional charge can arrange for the purchase and delivery of appliances from our preferred vendor.
We highly recommend the owner provide a refrigerator. It is rare in our community for a tenant to possess their own. However, it is not unusual for a tenant to own a washer and dryer and many prefer to use their own. It is for this reason, as well as liability reasons, we recommend you do not furnish a washer and dryer. An exception to this recommendation is for multiplex units and townhouses or condos that may require stack units, or where the washer and dryer are located on the 2nd or 3rd floor of the rental.
RMA would be pleased to assist in this capacity. We can provide estimates from our preferred network of vendors and handle the scheduling logistics.
RMA re-keys all properties just before a new renter moves in; this procedure gives our renters peace of mind and is an effective risk management tool for you. RMA manages the specific key cut associated with each property, which allows efficient access to the property if need be. This cost is shared between the renter and landlord; we are currently seeking a $50.00 contribution from the renter, deducted from their security deposit at such time they vacate the property.
The tenants have responsibility for some of the maintenance on your property. They have to replace burned out light bulbs and change furnace filters. Tenants are usually responsible for the lawn care unless they are in a multi-unit property, one that has a homeowners association with that responsibility, or owner provided gardening service. When repairs need to be done outside the scope of the tenant’s responsibility, one of our preferred vendors handles the job. Anyone doing maintenance on your property is selectively screened and insured for liability and workers compensation to protect you from unnecessary exposure. Our workers are available for your property maintenance needs 24 hours a day and their work is guaranteed. Because of the volume of work we do with them, we usually get lower rates than you would get if you called them directly. If you have a service plan we can use your contractor, however, as protection for you and us, they would need to provide RMA records for liability and workers compensation insurance and tax ID #’s before a check could be issued. If you have a Home Warranty we are happy to work with them. However, on occasion, Home Warranty companies can create considerably more time involvement than is necessary when working directly with our preferred vendors. For this reason, if it takes longer and 30 minutes for us to coordinate with your Home Warranty company you will be charged a service fee of $65/hour, one hour minimum, additional time billed in 30 minute increments.
Yes, a qualified owner can be set up as their own vendor for their own property. However, the owner will be required to respond to maintenance requests within a specific timeline. Non response will require our office to utilize services from our preferred vendor providers. And, remember emergencies must be dealt with immediately. Realty Management Associates has relationships with quality vendors that produce an exceptional maintenance value; our service includes the supervision of those vendors.
RMA performs several inspection surveys each year. There is the annual walk through survey, move in and move out inspection surveys, periodic drive-by surveys, as well as additional walk through surveys if circumstances warrant. Most of these surveys will generate a detailed report which will be delivered to you electronically. When we conduct our drive-by surveys you will receive an email notification.
The rents are due on the first of the month and are subject to late penalties if not paid by the fifth. The rental funds must have cleared their banks before we can disburse funds. It is prudent to wait two weeks for such clearance. We begin payment of bills on the 20th. Your statement will include all activity on the account for that month, through the 25th. Our property management software allows you to manage an Owner Portal that gives you on-line access to Cash Flow Statements, receipts and other information related to the property. Funds are delivered to you electronically by direct deposit. You should receive funds in your bank account by the 27th, (not accounting for weekends and Federal holidays). We are happy to mail a check if that is more convenient. You will receive a profit and loss statement for the prior year at the end of January; this has all the year to date information you need for taxes. We do send a 1099 by January 31st as well.
When your account is first created in our system you will receive an email invitation to login to your Owner Portal. Please keep a record of your login and password information. The portal can be accessed from our website in the top menu bar and under the Owner tab. Each month, on the 25th, (or next business day) you will receive an email notifying you that your most recent statement has been posted to your portal. Your year-end profit and loss statement along with your 1099 will be mailed to the address on record.
We require you to maintain a $300 reserve balance at all times. Negative owner balances are a violation of Trust Accounting; the owner is required to reimburse Realty Management Associates, Inc. for any outstanding expenses. Additional management fees are assessed for overdrawn accounts; that fee is based on a rate of 1% per month but not less than $25.00.