WANT TO BUY OR SELL A PROPERTY?
The Boise Turnkey Beat
January 2025
Real Estate Radar
Real Estate Radar
Happy New Year!
I’m not great about looking back on each year and reviewing my experiences, what I’ve learned and finding meaningful ways to use those experiences to make Boise TurnKey and myself better. I’m more of a “head down and grind” kind of person, but 2024 was quite a year and I’ve found myself taking stock of the experiences I’ve had and focusing on how they will shape the year to come. And it was a doozy.
For starters, we had a death in the family early in 2024. It was devastating and all consuming for a good portion of the first quarter. When our family was in the middle of a crisis, it was hard to see outside of that situation. Now with some breathing room and time to process, I can’t help but look back with gratitude. Gratitude for the time that we had to spend together as a family, for the gift of being able to spend our lives with people who give back endlessly with no expectations of receiving. In addition to that personal gratitude, I will be eternally grateful for our team here at Boise TurnKey, because they gave Heather and I space and time to be away and took full responsibility for steering the ship while we focused on our family. We are so fortunate in countless ways.
They say if you are in real estate, it’s not IF you will be sued, it’s when. Well, 2024 was our year. We’ve been managing properties for over 20 years now and I’ve always felt we’ve done a good job of mitigating risk through professional management and mutual respect. Unfortunately, some “professional” tenants slipped through the cracks this year and made it known that they would be trouble from day one.
For the sake of brevity, I will spare you the details, but we went to small claims court with stacks of evidence supporting our case and the tenants showed up with nothing other than the claim that their unit had mold in it. No evidence whatsoever, no documentation and as a matter of fact, we sent out a professional who confirmed that there was no mold in the unit. Unfortunately, by the (bad) luck of the draw, we got a judge who immediately decided that the tenants should be made whole- again, based on no evidence of any financial loss. We were able to compromise on the judgement amount, but it was disheartening to know that even if you are in the right, have supporting documentation and it seems like a slam dunk…you can lose based on an emotional response.
That experience is very fresh, just last week as a matter of fact. We’ll take what we learned from these tenants and the judge and make appropriate modifications to our screening process as well as our tenant communications to continue to mitigate our risk and become even better.
We’ve also started a development arm as well, taking advantage of the new zoning regulations for the city of Boise. It’s been a wild ride, but we’ve learned a lot and have been fortunate, again, to built an amazing team of experts to guide us through the process. Fingers crossed that we will break ground next summer and be well on our way to providing a few affordable units to Boiseans as well as some nice returns to our capital partners.
How did 2024 treat you? What was the biggest lesson you learned? We’d love to share and learn from your experiences too- feel free to share at info@boiseturnkey.com
Cheers to a fantastic 2025
Chat with Us
Heather give us a pearl of wisdom for being in property management.
Property Management Corner
We CRUSHED Our Lease Renewal Rate Goal for 2024!
No doubt you’ve seen our frequent updates, and possibly even watched a few of our videos around our Management Team Goal of increasing lease renewal rates to 70% in 2024. We are thrilled to report that we exceeded our aim, with 79.9% renewals across our entire portfolio! Ending the year with nearly 80% under our belts, it seems staggering to know that national averages tend to hover around 50% (and even lower for multifamily units)!
Focusing on lease renewal rate is critical for several reasons, especially for investors looking for operational stability. However, it extends further than just a monetary metric. Renewal rates also reflect how well the Boise TurnKey Property Management team has communicated, responded, and treated residents over the years. What are these underlying factors that fed into this success?
- Tenant Satisfaction Indicator: High renewal rates have direct correlation with satisfied tenants, which is a positive sign for the manager’s responsiveness, as well as the property’s reputation and long-term appeal. When maintenance concerns arise, residents know their requests will be handled efficiently and effectively.
- Stronger Relationships: Retaining tenants builds trust and long-term relationships, making it more likely that residents will care for the property and comply with lease terms. Residents feel heard and seen, and that they’re not simply a number or a file somewhere.
- Reduced Management Effort: Renewing leases involves less administrative effort compared to onboarding new tenants, such as conducting screenings and negotiating lease terms. The process to renew a lease is very smooth and relatively straightforward, compared to multiple steps and tasks during a turnover.
- Continuity: Long-term tenancies contribute to a more stable community, reducing issues like interpersonal disputes and complaints. Residents with families can keep students in the same schools/districts, which increases learning success and long term relationships. Creating a sense of welcome and belonging deepens the community feel of the neighborhood.
Final Thoughts
While we carefully chose this goal for 2024, we will continue to focus on this metric in 2025 and beyond. After all, lease renewals are a key metric in maintaining stability in the real estate and rental industry. Focusing on lease renewal rates is a proactive strategy that Boise TurnKey has chosen to emphasize as it drives tenant satisfaction and long-term growth. Here’s to another year with continued success and community building!
Meet the Team
PhD in Transaction-ology
Tracy Ross is a licensed agent as well as transaction coordinator for the Boise Turnkey team.
Tracy’s deep passion for real estate led her to leave the dynamic world of healthcare in 2019 to follow her dream. With experience in long-term rentals and flipping primary residences, she discovered her true calling in homes rather than the operating room. However, her medical background continues to serve her well as a real estate agent and renovator. Her ability to excel under pressure, keen attention to detail, and understanding of the importance of every decision, make her an invaluable advocate for her clients.
Having spent five years as a travel nurse, Tracy lived in various parts of the country and gained extensive knowledge about relocation. She understands the challenges of buying property in a new state and is committed to easing her clients’ concerns and guiding them through the process.
Now settled in South Boise with her husband and two dogs, Tracy embraces life’s simple joys. She’s a fan of “lazy” sports like golf, bowling, and trivia nights—her bowling ball, affectionately named “Martha,” is always by her side. In her downtime, she loves exploring Boise’s blossoming food scene, searching for the most authentic regional flavors. Tracy's favorite place in the world is the Oregon Coast and she vacations there any chance she can get away.
Whether you're relocating, investing, or simply looking for a place to call home, Tracy combines her unique skills, extensive experience, and genuine passion to help you achieve your real estate goals. With her by your side, you’re not just navigating the market—you’re building your future.
The Boise TurnTea
Winter Planting for Stunning Spring Blooms: What to Plant Now
Winter might seem like a dormant season for gardening, but it’s the perfect time to plant certain flowers and plants to ensure a vibrant and colorful spring garden. Many bulbs and hardy plants thrive when planted in the cooler months, taking advantage of the soil’s moisture and temperature to establish roots. Here’s a guide to what you can plant this winter for spectacular spring blooms.
1. Spring-Flowering Bulbs
Planting spring-flowering bulbs in late fall or early winter ensures they’ll bloom beautifully once the weather warms:
- Tulips: These iconic flowers come in an array of colors and shapes. Plant them in well-drained soil and ensure they’re placed 6-8 inches deep.
- Daffodils: Hardy and cheerful, daffodils are low-maintenance and naturalize well, returning year after year.
- Hyacinths: Known for their fragrant blooms, hyacinths add a pop of color and a sweet scent to any garden.
- Crocuses: These early bloomers are often the first sign of spring, peeking through the last of the winter snow.
2. Perennials
Certain perennials can be planted in winter to establish roots before blooming in spring:
- Peonies: Best planted in late fall or early winter, peonies reward your patience with stunning blooms.
- Iris: Hardy and elegant, irises thrive when planted during colder months.
- Hellebores: Also known as Christmas roses, these hardy perennials bloom in late winter or early spring.
3. Shrubs and Trees
Winter is an excellent time to plant shrubs and trees, as they have time to establish roots before spring:
- Lilac Bushes: Known for their fragrant purple or white blooms, lilacs are a spring favorite.
- Dogwood Trees: These trees produce gorgeous blooms and add structure to your garden.
4. Winter Annuals
For immediate winter interest and a head start on spring blooms:
- Pansies and Violas: These hardy annuals thrive in cooler temperatures and often bloom through winter into spring.
- Snapdragons: Plant these for vibrant color that lasts into the warmer months.
Tips for Winter Planting:
- Prepare the Soil: Loosen the soil and mix in compost to ensure it’s nutrient-rich.
- Choose the Right Spot: Ensure proper sunlight and drainage for each plant type.
- Mulch: Add a layer of mulch to protect plants from extreme cold and maintain soil moisture.
By planting in the winter, you’re not only saving time in spring but also setting the stage for a garden that bursts into life as soon as the temperatures rise. Happy gardening! 🌷
Out on the Town
January 6th - Tupelo Honey Hoot & Holler
January 7th - #TerrorTuesdays: A classic horror Film and popcorn
January 8th - Wine Down Wednesday
January 9th - $3 Thursdays at the Zoo
January 11th - Winterwear at the Idaho State Museum
January 15th - New year: New You - Sip Smart, Be well - House of Wine
January 18th - Wild & Scenic Film Festival: Wild Child
January 22nd - Hamilton at the Morrison Center
January 23rd - BANFF Film Festival
January 31st - "Construction: Building Our Future Together" exhibit at Art Source Gallery
February 2nd - Paint with Penguins at Zoo Boise
February 4th - Fraggle Rock Live at the Morrison Center
February 8th - Dark Jones - A twisted Comedy show
February 12th - Purple Xperience at the Morrison Center
February 20th - Field to Fork Festival at JUMP
February 25th -Tina- The Tina Turner Musical
In Other News
Anyone here hate doing dishes? Me too! I’m happy to share this hearty one pot meal which fits somewhere between a soup and a pasta dish. It’s the perfect hot meal for winter months- it easily feeds four and can be doubled for leftovers or larger families, and for college students, keep it to meal prep over the week ahead as it reheats incredibly well.
The great thing about this recipe is that parts are adaptable to your taste and preferences. I add Cayenne Pepper for a bit of heat, but that can be removed if spice isn’t your thing. Spinach is an easy vegetable add-in that increases the nutrient value of the dish while not really impacting the taste
You will need:
1 lb. Italian Sausage
2 cloves of minced garlic (or measure with your heart :))
½ white onion - diced fine (you can also sub a teaspoon of onion powder in a pinch)
6 oz. Tomato Paste
2 Tablespoons of Italian Seasoning
½ teaspoon Cayenne Pepper (optional)
4 cups Chicken Broth
1 box of Orzo Pasta
¼ cup Heavy Cream
1 ½ cups of Spinach
Parmesan Cheese for garnish
- Start by adding your minced garlic to a large stock pot on medium-high heat. Add your diced onion as well (if you are using onion powder, wait a bit) and sauté until translucent.
- Add the Italian sausage and cook until brown, then drain any grease from the pan. If you are using onion powder instead of an onion, you can add this now.
- Make a hole in the center of the pot and add your tomato paste so it gets direct contact with the pan. Combine with the Italian sausage.
- Add 4 cups of chicken broth and scrape any residue off the bottom of the pot.
- Add Italian seasoning and cayenne pepper (again, spice is totally optional!) and bring to a boil
- Add the entire box of orzo. Stir occasionally to prevent the orzo from sticking to the bottom and burning. Do not cover. The orzo should soak up the majority, if not all, of the broth.
- 7. Once soft (this is where you can taste test!), remove from heat and add your spinach. The heat of the pot and the pasta will cook it down.
- Once spinach has deflated, add ¼ of heavy cream and stir to incorporate.
- Garnish with parmesan cheese (feel free to add more to the dish for a truly cheesy, creamy pasta) and serve!