All Forum Posts by: Brian Stutzman

Today the Idaho senate hears 2 anti-landlord bills. 1 says you can not change rents without 60 day notice, the other says you can not accept applications as you have in the past probably.

Read about the bills, plus register to remotely testify this afternoon, here:  click here for more info

testify or learn more here

You can remote or in person testify in Boise this afternoon on 2 bills affecting landlords.

1. You can not raise rent without a 60 day notice

2 You can not accept rental applicationswithout an empty, then you can not take more than 1 at a time it appears.

Read the bills, and sign up to testify if you wish, or contact your legisators, see link at top

Joe, would you please post that in your facebook groups you mentioned?

Dear fellow Idaho landlord,

 I was contacted tonight by Senator Doug Ricks to see my thoughts about a bill idea that Senator Rabi is trying to put together that would hamper landlords. The bill idea includes:

1. Making Idaho law state that landlord's late fees to tenants are capped at 10% of one months rent.

2. Landlords will have a cap ( maybe $20?) of what they can charge for a rental application fee.

I feel this is the first step to make Idaho landlord law similar to California law and is a potential gateway to rent controls at the like.
The sponsor is a 1st term Senator from Boise with a very impressive resume and I am sure is a delightful person. However her bio is a bit disturbing, at least to me, which reads in part: Senator Ali Rabe (1st Term Boise) executive director of Jesse Tree, a Treasure Valley nonprofit dedicated to preventing eviction and homelessness

Senator Ricks asked me to solicit other landlords input, and have them email him directly their thoughts on the state mandating caps on late fees, and caps on application fees.

If you feel inclined, would you email your thoughts to Senator Ricks at the email below?

dricks then the at sign, then, senate.idaho.gov

Thanks!
Brian 

Thanks!

I guess I see $800 as the same as a weekend in Hawaii :) (when they open back up). If there is someone with a low or no cost HELOC like I had years ago I would take that over forking over my vacation money.

Actually discover, chase, wells Fargo and other big firms have halted helocs on rental properties for now.  I guess smaller credit unions might be our only hope.

I have a rental home that is paid off and I would like to get a HELOC on it for future liquidity. I have found a credit union that will do a "no yearly fee" HELOC if I just pay about $800 upfront for an appraisal. The interest rate is competitive but not hugely important, and they have an acceptable limit on how much they will allow to be pulled out.

Years ago we got a heloc with zero fees and they simply did a drive by analysis because the ltv was less than 50%.  I hate to fork over $800 for a formal appraisal. 

Does anyone know of a bank or Credit Union that does HELOCs on rental homes?  (We have good credit, good income, etc.)  TIA

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