Property Management Blog

Wednesday, August 29, 2018

How Much Can I Charge for a Security Deposit?

A common question as well as a common discrepancy we see in marketing form DIY landlords is the amount the security deposit for their rental home. How much can you charge for a security deposit here in New Mexico? It's pretty well-defined in our Landlord/Tenant Law (Uniform Owner-Resident Relations Act). What sparked this article is from what I'm commonly seeing on places like Craigslist, or Facebook, or Trulia, Zillow. Whatever the platform may be, landlords are advertising their rental...

Wednesday, August 22, 2018

What is Normal Wear & Tear

Here in the state of New Mexico, what's referred to as the Owner Resident Relations Act, more commonly known as the Landlord Tenant Law here in New Mexico, they actually defined what normal wear and tear is, so I'm going to give a synopsis of that.Normal wear and tear means deterioration that occurs based upon the use for which the rental unit is intended. It goes on to say that negligence, carelessness, accident, abuse, or intentional damage of the premises or equipment on the premises ...

Thursday, April 5, 2018

Mold Remediation Guide
Property Management Blog
Guide courtesy of American Apartment Owners Association, a landlord tenant screening company.

Wednesday, April 4, 2018

3 Bad Landlord Habits That Put Them At-Risk

1. Tenant's rights? What rights?I've heard it over and over again from DIY landlords and it's scary. For instance, it's my house, I don't need to give notice for me to make entry. OR I don't want (insert ethnicity) in my home. Terrible that this day in age things like this still exist, but they do and with potentially huge risk associated with them. 2. I'll get to that maintenance request when I have timeWe also hear this one frequently. Often times there is no since ...

Wednesday, April 4, 2018

5 Reasons Why You Always Should Treat Your Investment Property Like a Business

Being a landlord is not always easy. From finding tenants, advertising the property, conducting thorough screening, creating and following the rental agreement, move-ins and move-outs and much more. While it is often perceived to be easy on the surface, a lot actually goes into it making rental property profitable and running smoothly. Treating your investment property like a business is a must. Here are 5 reasons why:1. It can be an emotional rollercoaster.It's imperative that you keep your...

Monday, February 19, 2018

Apply To Rent

We get a lot of inquiries through our office on how to apply or rent a property.Hi, I'm Kristina with Independence Capital Property Management.The first thing to do would be to go online and submit an application at icpmrentsmart.com.Be sure to have the proper items to submit an application. That would be your driver's license, your proof of income and your rental history. Be sure to complete the application in its entirety. Check all the boxes and even include a cover letter of informat...

Tuesday, February 14, 2017

Who Should Handle Your Rental Property Maintenance? Advice for Landlords in Farmington, NM

We’re talking about the importance of rental property maintenance, which is a big factor for our tenants and our owners as well. You want to keep your home well maintained, with repairs done quickly, correctly, and efficiently. Your property management company will either use in-house maintenance personnel or third-party vendors. We prefer third-party vendors for a number of reasons, but we’ll take a look at both options. Areas of ExpertiseWith in-house maintenance, the property...

Wednesday, February 8, 2017

How Much Should I Rent My House For? Farmington Property Management Dos and Don'ts

With your investment property, you want to price to rent because that rental rate is going to be very important to your vacancy time. Vacancy is the period where you’re not making any money. Every week that your property is vacant eats up 2 percent of your annual income on that property. So, a full month that’s vacant means you’re down 8 percent. That vacancy period may be due to not having the correct market rent established for your property.  How Much Should I Rent My H...

Tuesday, January 24, 2017

How to Collect When Your Tenant is Late on Rent | Farmington Property Management Advice

It’s important to have a consistent rent collection policy in place so tenants know what to expect from you if rent is late. If a tenant is late on rent, you need to act immediately. Today, we’re sharing our process for how to collect rent and, if necessary, evict a nonpaying tenant.Establish a Rent Collection ProcessRent is due on the first of the month for our tenants. We try to create normal processes that help us collect from those who are late. We have a zero tolerance for rent ...

Tuesday, January 17, 2017

Winterizing Your Home | A Guide for Rental Property Owners in Farmington, NM

We have arrived in the winter season. The cold weather has come, so we'e providing a few tips that will protect your house from freezing. We've also got some energy efficient tips that will help you conserve energy and make sure the property stays warm during the winter.Protection Factors for Your Property Unscrew all the hoses from the outside hose bibs. We like to cover them with the Styrofoam hose bib covers because it adds a little bit of extra insulation to that hose bib, and w...

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