- Why Choose Chapman Properties for your Management needs?
- How do you advertise vacancies? Who pays the advertising costs?
- How long will it take to rent my property?
- Should I allow Pets? Smokers?
- How do you screen prospective applicants?
- What is collected from the resident prior to them moving in?
- How are utilities handled?
- What happens if my tenant does not pay on time?
- What happens if my tenant breaks their lease?
- When should I expect my monthly report and check?
- Will I need to change my insurance coverage?
- What if I would like to sell my investment property?
- Who handles problems late at night?
Chapman Properties is a well established, family owned and operated professional management company, incorporated and serving the Treasure Valley for over 25 years. Patrick "P.J." Chapman MPM, RMP, ARM is a Boise native with 16 years of management experience. P.J. is heavily involved with NARPM ( National Association of Residential Property Managers) and has served in several board positions to include President and on national committees. This continuing involvement keeps us all active in new and updated landlord/tenant law, the newest property management technology, enhanced management networking, problem solving, risk management and overall better qualified service for our clients and investors. P.J. Chapman currently holds the highest certifications this organization offers of "Master Property Manager", Residential Management Professional" and Accredited Residential Manager" through IREM. P.J. has a clear passion for this profession and continues to show that in his efforts to provide the highest quality management service in the Treasure Valley.
When we take a new property or a 30-day notice to vacate is delivered to our office, we begin the marketing of your property. We advertise in the following venues:
- Chapman Properties has an extensive website that pushes listings out to 20 sites for free and other paid site as designated in our marketing packet. When advertising with Chapman Properties there is a charge of $75 for our website which includes 20 other sites and state of the art marketing statistics that can be emailed to our clients, keeping them up to date on the activity of their rental investment.
- Rentals.com. We use another great national website called Rentals.com and their family of sites. For $99 a month your ad is placed on five affiliated websites through Rentals.com. This allows for unlimited pictures and full tracking of inquiries on your property. Highly Successful.
- Rentbits.com. Another fantastic paid site that pushes your listing to several additional national sites. $75
- Property signs. All available rentals have a professional Chapman Properties sign placed in the front yard of the home with web address and phone numbers to our office.
- In-office listings. All managers in the office keep a copy of all available listings on hand for reference.
- Craigslist. This free service is very successful in other areas and is somewhat hit or miss here in the valley. We continue to try this method and have found it not as successful as our other methods. We do have a direct link from our website to produce professional-looking craigslist adds. We post to craigslist twice a week.
The cost of the advertising a property is passed on to the owner and will be billed monthly. Internet media advertising does cost you and we have arranged for you to receive the best bang for your buck. Our internet advertising has proven to be successful through many years of trial. All signs and phone system advertising are included in your management fee.
It is impossible to predict how long it will take to find qualified tenants for your property. There are several factors included in renting a home to include, size, location, overall condition, asking price, and time of year. The market time for renting is generally much shorter than the time to sell and landlords can usually expect to have a tenant within 30 to 60 days. If a property does not rent within this length of time, it is generally a sign that the unit is overpriced relative to its size and condition. Pricing your property competitively and having your property in the best condition possible are crucial to effective marketing.
You do not have to allow pets on your property. We suggest, however, that you leave that option negotiable if you are unsure. 50% of prospective residents have pets and by not allowing them you will lose a good portion of potential residents. Leaving this option open allows for that 50% to view your unit and leaves the final decision to us. We always charge a pet fee, and monthly rent per pet, to the resident when pets are allowed. We cannot charge fees for companion or ESA animals. We do not allow pitbull and some other aggressive breeds. We do not allow puppies or kittens and have a general two pet maximum policy if allowed.
Chapman Properties does not allow inside smoking on any of our rental units. If a resident is caught smoking inside, they are responsible for any and all damage related to the smoke.
We are very diligent with our screening for prospective residents. We encourage you to review our rental application, policies and procedures as provided to each prospective resident.
Our professionally trained staff applies all information received from our credit bureau to our application policy and procedure criteria. We check credit history, rental history, employment information and criminal backgrounds.
Placing qualified residents in your property is one of our most inportant goals as your property management company.
At the time of approval we require the resident to place the full the security deposit in trust and set up a time for them to sign the lease agreement. At the time of signing, and prior to a key being released, all money due for rent, pro-rent and additional fees such as pets fees are to be paid with the lease signing.
We require owners to have the utilities in their name C/O Chapman Properties at the time of management initiation. Once we have a resident for your property all tenant utilites are to be transfered into the residents name. Some properties pay for certain utilities like trash/sewer and water. Owner utilities will remain in the Owners name and sent to our office for payment and placed on your monthly cash flow statement. Any utility overages will be promptly billed to the resident.
If rent is not received in our office by the 5th of the month the tenant will be placed on our delinquency list and followed up with a 3 day notice to pay or quit. In the event there is no communication from the resident and the rent is still not paid, legal action will be taken to evict the resident for non-payment. Our general rule of thumb in our current market is to never allow anything to go over 30 days. Evictions will take place sooner if no communication is made.
As a corporation we are legally obligated to hire an attorney to handle our evictions. This can cost up to $700 and is paid by the owner but billed to the resident. In an effort to minimize the cost to our clients we have established an "Eviction Protection" program. these details and participation are option and part of our management agreement. Ask us for details.
When the tenant breaks his or her lease before the lease period is over, they are responsible for all damages and expenses incurred to re-lease the property. The expenses include the rent amount for any remaining unpaid rent, future rent until the lease is up or until the unit is re-rented, advertising and standard move-out criteria such as cleaning and general repairs.
Chapman Properties does have a buy-out option for tenants who want to break their lease. Please review a copy of our on-line lease agreement for further details on that buy-out option.
Our monthly statement process begins around the tenth of each month for all ACH clients. Our standard statement date ranges from the 11th of the previous month to the 25th of the current month. We encourage you to sign up for electronic transfer via "Paylease" as that is the easiest way to quickly receive your funds.
Chapman Properties has also established a great online feature on our website. This allows our clients to receive an e-mail when their statement is ready and to go online to our website, logon to your personal password-protected statement page and view your statements. This can be done at your convenience and is a great new feature for our clients.
We advise all property owners to consult their insurance agent to be certain they are carrying adequate insurance for their property needs. We require current proof of insurance to be on record in our office for all properties we manage. We also require Chapman Properties to be named as additionally insured on your policy. We advise all residents as they move into your property to obtain renter's insurance. This is not required by law but very beneficial in the case of a tragedy. It is also noted in their lease that the owner's insurance does not cover the tenant's personal content or any loss they might have during their tenancy.
Chapman Properties does not currently sell investment property, however, we do work with an array of qualified realtors that would be happy to assist you. Give us a call and we would be happy to make a referral for you.
Chapman Properties has contracted with a very professional and effective after hours emergency service. These emergency services are directly tied to our office number after hours. When a call is received they will, in a very professional manner, determine the severity of the problem and dispatch the needed services. We define an emergency as fire, flood or any dangerous or hazardous situation.
This service uses Chapman Properties approved or current vendors to handle these problems.