Owner FAQs
Answers to your frequently asked questions
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Why should I choose Invest Idaho Management over other companies?
Our company stands firm on the ideal that our clients are truly our livelihood, and our focus and goals are to maximize your investment property to achieve the best possible returns. We understand that your property is not just a revenue source for our company. We also strongly feel that providing the most positive tenant experience will provide superior results for our clients. -
Are you licensed?
Currently in the State of Idaho, Property Management companies are not required to be licensed through a Real Estate Brokerage like most other states. Invest Idaho Management is a member of NARPM(National Association of Residential Property Managers) and the Idaho Apartment Association. Membership in these highly regarded trade organizations allows our team to stay on the cutting edge of our industry, and fair housing compliance both nationally and locally. -
Do I have to allow Pets?
The decision to allow pets in your investment property is one of our most commonly asked questions. The decision to allow pets is largely at your discretion, but there are important considerations to keep in mind, especially regarding emotional support animals (ESAs) and service animals.
By law, you must accommodate service animals and ESAs. These animals are not considered pets and are protected under the Fair Housing Act. You cannot charge pet fees or deposits for them, although you can hold tenants responsible for any damage caused by these animals. Denying a tenant's request for a service animal or an ESA could lead to legal complications.
In the Boise Metro market, allowing pets can significantly expand your potential tenant pool. Approximately 68% of tenants have pets, and 76% of millennial renters own pets. Pet-friendly properties are highly sought after, and tenants with pets tend to stay longer, averaging 23 months compared to 15 months for those without pets. This can reduce vacancy rates and enhance tenant retention (Mashvisor).
While pets can sometimes cause damage, many property owners mitigate this risk by charging higher rents and security deposits. Additionally, installing pet-friendly amenities, such as waterproof flooring and pet waste stations, can help manage potential issues and attract responsible pet-owning tenants (Firstmac).
Allowing pets can enhance the attractiveness of your property and ensure a steady, long-term tenant base, which ultimately benefits your investment.
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When and how will I get paid the rent you collect for me?
Invest Idaho Management employs an "End of Month Accounting" system to streamline financial processes for our clients. Each month, tenants' rent is due by the 1st, with a grace period extending until the 5th at 5 PM. Once rent is collected, we allocate funds to cover any property-related expenses, such as utilities, maintenance work orders, and inspection fees. After all bills have been settled, we disburse the owner's distribution via ACH payment at the last 2-3 days of the month, ensuring it is directly deposited into the bank account of your choice. This method simplifies property accounting, ensuring clarity and organization. Additionally, it allows us to address any property issues promptly without requiring owner contributions or maintaining a property reserve.