SF Rental Calculator Update: 2012/2013 Interest Rate

Posted February 23rd, 2012 in News by ReLISTO

ReLISTOs SF Security Deposit Interest & Rent Board Fee Calculator was updated this morning to reflect the new security deposit interest rate of 0.4%, effective March 1, 2012 – February 28, 2013. Next update will be summer of 2012 to enter the November 2012 Rent Board Fee.

 

With the SF Security Deposit Interest & Rent Board Fee Calculator Landlords and Residents can easily determine the amount of interest on security deposits (See Chapter 49 of the San Francisco Administrative Code) and annual Residential Rent Stabilization and Arbitration Board Fee, commonly know as the “Rent Board Fee” (See Chapter 37A of the San Francisco Administrative Code) owed to the other . These two different and quite complex computations can be a cause of significant deliberations and disputes between Residents and Landlords. The SF Interest and Rent Board Fee Calculator allows each party to easily run the complex calculus for free, in only moments, online, thereby helping foster better relations between Residents and Landlords . All that is required is for the user to enter a start and end date along with the initial principle. The ReLISTO SF Rental Calculator will then provide an amount due to either or both the Landlord and Resident by factoring in multiple variables such as the changing interest rates and various rent board fees over the entire term or tenancy. By generating a precise figure with minimal effort, Landlords can now easily manage this required step for each of their rental properties.

ReLISTO – Imfuna Case Study

Challenge..ReLISTO wanted to increase business efficiencies, increase revenue and find a way to create binding property reports for building managers in the rental market.

Solution..Imfuna Rent, a free property inspection and reporting system, and Imfuna Let, property inspection and reporting system for the U.K. Imfuna empowers the commercial real estate industry with an easy-to-use mobile platform to capture, store and share critical inspection and audit data.

Results..Imfuna Let enabled ReLISTO to reduce the time spent producing a report drastically to just 30 minutes onsite, reducing the need for extensive office administration and hard drive storage needs. The mobile application expanded ReLISTO’s business and revenue stream by generating condition reports for building management, a task typically done by outside vendors.

Background..ReLISTO is a hugely successful team of leasing consultants in San Francisco, one of the most dynamic rental markets in the U.S., according to CNNMoney.com. The company works in a city where there are many more renters than owners due to high homeownership costs – only about a third of the population own their homes.

Managing Director Eric Baird’s personal vision for the company is to expand capabilities utilizing everything new technology has to offer. As a leasing agency, ReLISTO is in an industry that historically shies away from direct involvement in property service and management. However, with Imfuna’s products, the Company has increased business offerings and therefore business revenues. With protection from legal disputes due to Imfuna’s binding property reports, agents are able to create condition reports for building management during the move-in and move-out process, protecting all parties involved.

Imfuna also enables ReLISTO agents – such as one of the country’s top listing agents, Jackie Tom – to complete inspections upon first acquiring a listing via mobile devices. Once in the office, the agent will use the Web to add pictures, make edits and send request feedback from the landlord. After subsequent adjustments, the report is sent to the landlord who then provides a copy for renter upon lease signing. The renter can do a walk through and make comments, which are then implemented into the report.

Imfuna has enabled ReLISTO agents to offer protection on a renter’s deposit, and protection on a landlord’s property – all while protecting agents from legal dispute.