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FREQUENTLY ASKED QUESTIONS
In No Particular Order
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| WHO
PAYS TO ADVERTISE THE PROPERTY? - Ultimately,
in any pricing structure, with any company, the owner does.
We decided to charge less to place a new tenant than most firms
do but pass through any advertising costs. In the long run this
usually saves the owner money. Why? Because in many cases we
don't have to advertise at all. Why pay a firm ½ of the
first months rent and they absorb the advertising costs. There
is a possibility that you're paying for nothing. On the other
hand, if it is a difficult property to rent and needs extensive
advertising, it shouldn't be the property managements obligation
to absorb those extra expenses. We keep it simple.... you're
charged for exactly what you get. We give you a copy of the
advertising bill from the newspaper and they break down all
the charges by property. |
| WHAT EXPENSES WILL
I INITIALLY INCUR WHEN CHOOSING YOU? - We normally
do not have any costs, however your situation or property may
require some expense if it is not ready to rent. Many owners,
as the first act of business, need us to evict a tenant. Of
course there will be eviction and court costs etc. that will
need to be funded before we get involved. Or possibly, the property
needs a major overhaul requiring plumbing work, landscaping,
roofing, painting, new carpet, fixtures etc. In those instances,
since we have never been involved with the property before,
we charge 15% of the renovation costs to handle getting the
property ready to rent. If your property is basically ready
to go, then there are no up front fees. |
| HOW LONG OF A LEASE
DO YOU SIGN? - We are open to any length term
of lease or month to month rental agreement. Most tenants want
a 6-12 month lease. Owners come in all varieties. Some want
long term, others short term. We're flexible |
| WHAT SORT OF MARKETING
DO YOU DO? - We try and saturate the market
when it comes to filling a vacancy. Below is a list of advertising
techniques we employ. |
- FOR RENT SIGNS - Posted at the property
and separate signage off site leading potential renters
to the property.
- NEWSPAPER - FREE ads in the Recycler
- NEWSPAPER - Classified ads in the Review
Journal, usually 3 lines 3 times per week
- MLS - Enter property data on the Multiple
Listing Service which makes your property available to 10,000
other Realtors.
- SECTION 8 - Send HUD/Sect 8 copies of
listings for those properties that are going to be available
to the program.
- RENTAL REFERRAL FIRMS - Send a copy of
the listing to the different rental firms in town.
- YELLOW PAGES - Listings under both Real
Estate Rental Service and Real Estate Management.
- INTERNET - Listings on our web site,
the Greater Las Vegas Realtors web, National Realtors Web,
and various private sites.
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| WHAT IS THE TERM
OF YOUR MANAGEMENT AGREEMENT WITH OWNERS? -
We normally write a 12 month agreement. However, according to
the terms, it can be terminated by either party with 30 days
written notice. In actuality, we are willing to terminate in
24 hours as long as all outstanding charges have been paid.
We do not feel it is in anyone's best interest to hold an owner
just for the sake of holding them. However, a property will
not be released until all accounts have been rectified and cleared.
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| DO YOU ISSUE 1099'S
AT THE END OF THE YEAR? - Yes. For those properties
that grossed $600.00 or more in rental income. |
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