Perspective Resident FAQs

Q: How do you determine the rental price for my property?

We complete a detailed rental analysis using current market conditions, comparable properties, your home's location, condition, updates, and amenities. Our goal is to recommend a rental price that attracts qualified applicants while helping minimize vacancy. We also offer a free online Rental Analysis.

Q: How and when do I receive my rental income?

Perspective Resident distributions are processed by ACH each month, typically between the 10th and 12th, after rent has been collected and any approved expenses have been paid. Perspective Residents also receive a detailed monthly Perspective Resident statement through the Perspective Resident Portal.

Q: What happens if a resident doesn't pay rent?

Our rent collection process begins immediately after rent becomes late. We enforce the lease consistently, communicate with the resident, and serve any required notices in accordance with Idaho law. If an eviction becomes necessary, we coordinate the entire process on the Perspective Resident's behalf, and Perspective Residents enrolled in our Eviction Protection Program and Rent Protection Program may have additional coverage available.

Q: How are repairs handled, and do I need to maintain a reserve balance?

Yes, we maintain a maintenance reserve on the Perspective Resident account to help cover routine maintenance and unexpected repairs so we can respond quickly without delaying service. The Management Agreement includes a repair authorization limit the Perspective Resident selects; repairs above that amount that are not emergencies require Perspective Resident approval, while emergency repairs necessary to protect the property or comply with Idaho law may be completed without prior approval.

Q: How do you handle lease renewals?

Approximately 60 to 90 days before a lease expires, we review current market conditions and discuss renewal recommendations with the Perspective Resident. If a renewal is offered, we prepare the lease renewal, coordinate signatures, and communicate with the resident throughout the process.

Q: What inspections do you perform during the tenancy?

We perform bi-annual interior walk-throughs and quarterly exterior property surveys throughout the lease. These visits help monitor the property's condition, identify maintenance concerns early, and encourage residents to properly care for the home.

Q: What happens when a resident moves out?

Once a resident provides notice, we begin preparing for the turnover process. After move-out, we inspect the property, document its condition, coordinate any necessary cleaning or repairs, and begin marketing the home as quickly as possible to minimize vacancy.

Q: How do you protect Perspective Residents from Fair Housing violations?

We follow consistent leasing procedures and screening criteria that comply with Fair Housing laws. Every applicant is evaluated using the same standards, and our team stays current on changing housing regulations through ongoing education, which helps reduce risk for both Perspective Residents and residents.

Q: Can I use my own vendors for repairs and maintenance?

RentWise works with a trusted network of licensed and insured vendors to provide consistent service and quality. Perspective Residents are welcome to suggest a preferred vendor for consideration, but vendors must meet our licensing and insurance requirements before being added to our network.

Question 1

How do I view available rental properties?

Answer

All of our available rental homes are listed on our Available Rentals page with current photos, pricing, and property details. If you find a home you're interested in, you can schedule a showing or submit an application directly from the property listing.

Question 2

How do I apply for a property?

Answer

Applications are completed online through the individual property listing on our website. Every adult who will live in the home and is 18 years of age or older must submit a separate application and application fee.

Applications are processed on a first come, first served basis once they are complete.

Question 3

What do I need to qualify?

Answer

Qualification requirements include income verification, rental history, credit, background screening, and other information outlined in our Application Policies and Procedures. Every completed application is reviewed using consistent screening criteria and Fair Housing guidelines.

Question 4

How long does the application process take?

Answer

Most completed applications are processed within 2 to 3 business days. Processing times may vary depending on how quickly employers, previous landlords, and other references respond.

Question 5

Do you allow pets?

Answer

Yes. RentWise is a pet friendly property management company. Pet policies, fees, and breed restrictions vary by property. All animals must complete our required screening process before approval.

Service animals and emotional support animals are evaluated in accordance with applicable Fair Housing laws.

Question 6

Do you require renters insurance?

Answer

Yes. Renters insurance is required for every lease with a minimum of $100,000 in liability coverage. This helps protect both you and the property throughout your tenancy.

Question 7

How much is the security deposit?

Answer

Security deposit amounts vary by property and applicant qualifications. Deposit requirements will be provided after your application has been approved.

Question 8

When can I move in?

Answer

Approved applicants are generally expected to take possession within 14 days of approval unless otherwise agreed upon. Your move in date will be confirmed during the leasing process.

Question 9

Who do I contact if I have questions before applying?

Answer

We're happy to help. If you have questions about a property, the application process, or qualification requirements, please contact our office at office@rentwisepm.com before submitting your application.