“The Benefits of Rental Housing Association Membership” written by Mike Marko
Have you ever considered asking for help in running a rental property business?
Landlords and property managers have a lot of responsibilities. Sometimes, they find themselves unable to manage everything.
This is where an RHA or rental housing association can help.
A rental housing association is basically a group formed by rental property owners, managers, and experts operating in a given location. It’s aim is to facilitate the business conducted by its members.
Have you considered joining one? If not, read on and find out how this can possibly be your business’s game-changer, especially if you’re a relatively green landlord/property manager.
In this blog post, we will tackle the benefits of rental housing association membership.
How Rental Housing Association Membership Helps
Have you ever pondered your job as a property manager or landlord at a deeper level?
Once in your very busy life, you may have asked yourself, “Is my job allowing me to maximize my full potential?” Realizations like this shouldn’t be ignored but discussed further.
This is another reason why joining a rental housing association can benefit you as if you’re running a rental business. It offers a ton of resources that help you develop your skills and capabilities.
Organizations like a rental housing association don’t only do well for a property rental business itself but for the people who work in it too. They can be of great help to rental property owners and property managers.
Today, I’ll show how the reasons for that and what you can expect when joining a rental housing association. So without further ado, let me tell you more about RHAs.
What Is a Rental Housing Association
An RHA’s main concern is to be of aid to property owners, managers, tenants, and basically, everyone who is involved in running a rental business.
Their services extend to the many different aspects of the “rental world”. They provide an opportunity for linking networks and information on the rental industry’s innovations.
They’re also open to teach the ins and outs of the business to newcomers.
There are RHAs across states in the U.S. and there are various rules governing each one. Once you become a member, you can gain access to the many opportunities they offer.
A rental housing association can even serve as the “middleman” in transactions that concern property leases, in fact. That’s just one of the ways RHAs can help make your life as a rental property owner easier.
RHAs and Tenant Screening Services
One of the main things a rental housing association typically offers members is assistance with tenant screening. Before we go into detail on that, let’s define what tenant screening is first.
Tenant screening is a service often rendered by property managers to check on prospective tenants’ profiles and financial capabilities. In the absence of a property manager, the landlord typically has to do tenant screening himself.
Tenant screening services include the following, generally:
- Credit reports,
- Criminal background checks, and
- Eviction checks.
Through this service, you will also be able to verify a tenant’s social security number and get fraud alerts.
A rental housing association helps identify companies that offer such services. This is so that property managers or landlords don’t have to look over all of that information.
This can help you save you more time and resources. Plus, you will be certain of accurate results from these licensed companies, as other landlords are obviously vouching for them via the rental housing association.
This is valuable information for your business. After all, who would want to worry or deal with fraudulent problems on the rental business end?
As much as you can, you want to prevent additional paperwork and expenses through bad tenants. Thus the use of tenant screening services vouched for by other landlords makes sense.
RHAs can lead you to different tenant screening companies. Some of these are RentPrep, TransUnion, and LeaseRunner.
Your rental housing association can even help you find the perfect match—the one that fits your needs and preferences when it comes to tenant screening.
Providing Resources to Connect Members
Joining a rental housing association gives you the opportunity to expand your network as a professional. First off, it does that by providing you with continuous learning.
This fact might not be known to a lot of people in the rental business. There are tons of different learning resources on property rental industry out there– books, newsletters, journals, and other publications.
Blogs, marketing emails, and online articles are available too.
All these resources are provided by the rental housing association to its members to make sure that they continue to be educated about innovations in the industry.
Take note that RHAs facilitate personal and online forums to open discussions on rental business issues as well.
Providing Resolution for Rental Conflicts
A rental housing association also extends help to members who are experiencing external and internal conflicts. The rental housing association taps the right legislators and a team of directors in coming up with solutions to some issues.
Governing laws differ from one state to another and problems are really inevitable. RHAs act as problem-solvers in such situations.
They may even refer you to other landlords/RHA members who’ve experienced similar legal troubles pertaining to their rental businesses. That can help you figure out what to do in your case, based on their experiences.
RHAs are also a good venue for sharing advocacies among people in the industry. No matter what position, you’re given a chance to share your passion as a member.
You can extend your discoveries, charitable works, extended education to everyone in the rental business through the rental housing association. During membership meetings, you may tackle serious issues.
Also, you exchange thoughts on your drive to grow the industry. Furthermore, the lot of you can pool your resources when a relevant cause arises.
Say, for instance, a local ordinance is about to threaten rental property businesses in your area. You can talk to the other members of your rental housing association to see if you can come together to resist the ordinance.
The idea behind a rental housing association, as with other groups, is that people with pooled resources are stronger. In this case, your pooled resources makes your rental businesses more powerful and more capable of weathering storms.
Final Thoughts on the Benefits of Rental Housing Association Membership
In this blog, we tackled the benefits of rental housing association membership. An RHA is an organization that caters to the needs of property owners, managers, landlords, and tenants.
One of the basic services of a rental housing association is tenant screening services. It often provides partnerships with servicing companies like RentPrep and TransUnion.
These companies provide credit reports, background checks, and eviction checks. Such checks can help property managers filter their tenant applicant list so they only end up with good tenants.
A rental housing association can also provide several opportunities to people in the rental industry to expand their networks. The rental housing association provides learning resources to its members and hold online forums too.
RHAs may even supply resources like recommendations for lawyers in case of legal disputes, or templates for forms like rental or lease contracts. A rental housing association may also be a venue for exchanging advocacies.
And that’s it for why you should consider being in a rental housing association. Feel free to share your thoughts on this topic and don’t forget to like and share this post!
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