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Full service property management includes monthly collection of rents, administration of
eviction notices and lease enforcement, lease renewals, periodic inspections, and monthly
operating statements. Services also include handling maintenance requests, emergencies with care, and HOA issues, contacting the owner when necessary, as well as negotiating prices with qualified vendors and supervision of them.
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PROPERTY MANEMENT OF LAS VEGAS acts as the intermediary between the owner and tenants, keeping the owner insulated from the daily issues encountered in property management. In addition to keeping the owner well informed on the status of the property. The PROPERTY MANAGEMENT OF LAS VEGAS team assists in maximizing income and minimizing expenses while keeping the property well maintained with a low vacancy rate.
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The property should be in the best possible condition ("RENT READY") to attract a quality tenant. Paint should be in good shape with marred or dirty areas touched up. Neutral colors for walls and floors are best. Blinds or shades are ideal window coverings. The home should be "detailed" clean and the yard in excellent shape. Smoke detectors must be in working order.
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The competition determines the rental amount. As experts in the field, PROPERT MANAGEMENT OF LAS VEGAS knows the market and the competitive rental ranges for your home, condominium or apartment building. If the unit is marketed too high the unit will be vacant much longer. If it is marketed too low, you will be missing income.
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Once the Owner Agreement is finalized, the Property is immediately added to our rental
availability list, web sites, and other resources. Each property is monitored by the property management team to track the marketing effectiveness for the individual property. Some of the sites we use to market your property: Craigslist, Backpage, Kijiji, Oodle, Hotpads, Postlets and Google Base.
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Vacancy periods are market driven. Location, season and price all affect the vacancy rate.
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It is common to restrict smoking inside the property. This does not significantly reduce the marketability of the property; however there is no way to enforce it.
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Statistics indicate that 75% of renters own pets. Restricting pets reduces the number of available qualified tenants. Pets will be screened and pet references checked out. In general, a well-behaved cat or dog causes little wear and tear on a home and yard. A refundable pet deposit is usually required for cleaning/misc costs if any.
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In federal, state, and local Fair Housing regulations children come under the protective class of "familial status". It is unlawful to discriminate against children in any way.
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First month's rent, a security deposit equal to one month's rent and any misc deposits (i.e. pets), determined on a case per case basis.
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The rent is due on the first of every month. If the rent is not paid by the 3rd, PROPERTY MANAGEMENT OF LV takes the first step in the eviction process and sends out a 5-day notice to pay rent or vacate. A hefty late-penalty is then levied against the tenant. If the tenant does not pay by the 10th of the month the owner is notified and PROPERTY MANAGEMENT OF LVS' IN-HOUSE ATTORNEY begins collection proceedings and eviction papers are filed at the courthouse. Most evictions are the result of loss of employment. (IN TODAYS ECONOMY IT IS BETTER TO WORK WITH THE TENENTS IF THEY ARE WILLING TO PAY THAN TO EVICT)
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Owner statement is emailed/sent and rent check or deposits occur on or before the 15th of each month. The Property Manager acts as an intermediary and deposits monthly rent income directly into the owner's bank account.
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PROPERTY MANAGEMENT OF LAS VEGAS is always on call for emergencies. We have an extensive network of maintenance personnel and sub-contractors to handle any emergency on your property, day or night. We are on call 24 hours a day 365 days a year.
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Most rental agreements are set for a one year term. At the end of the lease term the owner can decide to renew the tenants lease if the tenant wishes to remain, vacate the tenant, or allow the tenant to remain on a month-to-month term.
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Property Management of Las Vegas is responsible for approving all maintenance requests under $300. Tenants are encouraged to submit all repair requests in writing. It is Property Management of Las Vegas' policy to notify owners of all maintenance requests over $300. Sometimes a request falls into the category of a maintenance emergency. Emergencies are scheduled immediately and the owner is notified at the first possible opportunity.
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The tenant is responsible for the rent for the term of the lease. If tenants leave before the termination date they will forfeit their security deposit and Property Management of Las Vegas will notify the credit bureaus of their actions and forward to collections.
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A refundable security deposit taken at move-in is usually sufficient to handle the minor damage caused by tenants. Tenants with excellent credit and references seldom cause significant damage. If the tenant leaves the property owing money for rent and/or damages they will be billed. If they do not pay, Property Management of Las Vegas will file a writ for restitution with the metro court. If the court agrees with the charges the court will enter a judgment against the tenant. The judgment can either be turned over to an attorney or a collection agency. A judgment remains on the person's records against real property for a period of five years or until satisfied.
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If you are not currently under contract with another property management or real estate
company, we can begin right away. If you are currently under contract, you will need to
terminate their services according to your agreement with them. We are happy to pick up keys, security deposits and necessary documents from the discontinued company. Once you have completed all necessary forms and returned those to us, we will get started.
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