Our Process

Advertising

• Research comparable rental properties to achieve the highest return on market rent vs vacancy. Setting pricing too high means higher vacancies along with a smaller applicant pool which can lead to poorer quality tenants. Air aim is a 3.00% vacancy rate, meaning no more than 33 days vacant over a 3-year period.
• Begin by professionally marketing the property using high-quality/professional photos, helping attract more views and increase lead generation.
• Advertise on major platforms such as Zillow, Facebook Marketplace, Hotpads etc.
• Property showings are simple. Be available, show up, and promote applying.

Leasing

• Place all existing/new properties lease end date between April to August. Idaho is known for being slow in the fall/winter season.
• Pick the most qualified tenant with the least amount of risk based on their application. If an applicant has perceived risk on their application e.g., income, credit…work towards solutions to minimize loss and reduce vacancy. This can be done by having co-signers or taking larger security deposits, 2x, 3x, 4x or even 5x the rent, each application is a case by case basis.
• Take a holding deposit of one-months rent. The holding deposit secures capital ensuring you will receive any lost days of marketing if tenant backs out or lied on their application. The holding deposit has the following verbiage to promote honesty in the process, any falsehood, falsification, or fabrication pertaining to applicants’ application or applicants’ documents or stated information will result in immediate grounds for cancellation and owner/agent shall retain lost damages.
• Verify income, resident history, and employment.
• Ensure all utilities are transferred and amounts paid prior to handing over keys/possession.

Releasing/Move-out

• 60-90 days prior to tenant lease renewal we reach out to current tenants:
  • If tenant wishes to renew, a walkthrough will be conducted along with a lease renewal offer. The renewal offer considers tenant standing and current market rents.
  • If tenant will be vacating, property is marketed 30-45 days prior to termination of lease. A one-week window for turnover will be needed for move-out and any touch ups. Goal is to have property released within 2-3 weeks of lease termination.

Overall management and repairs

• EPM does not upcharge or receive kickbacks from our repairs or any vendors.
• Our goal is to not spend your money if we don’t have to. There are common sense repairs that can be deferred to move-out and turnover to reduce bulk handyman costs. But we also consider overall tenant wellbeing and happiness as to not create an unnecessary vacancy.
• Typically, we use local contracted handyman for our repairs, costs range from $50-$75/hr.
• Our vendor list is always being updated and added to.
• Our goal is to maintain a 5-6% maintenance budget. Meaning a $2,200/mo rent property should expect around $1,452.00 in repairs a year. This includes general maintenance, turnover costs such as paint/flooring/handyman items and long-term asset preservation such as water heaters, HVAC systems and roofing.