FREQUENTLY ASKED QUESTIONS
In No Particular Order
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WHERE
ARE YOU LOCATED? - For the convenience of
our renters and maintenance personnel we have chosen to be
near the center of Las Vegas ( MAP).
Our address is 4033 W. Charleston Blvd., Las Vegas, NV 89102.
We are located on the southwest corner of Charleston and Valley
View in the Westgate shopping center. |
| WHAT DO YOU CHARGE? - Our rates vary from 5%-15% with 9% being the most common.
There are several factors that would determine the percentage
charged, such as amount of rent to be collected, type of property,
number of units or properties, etc. |
AM
I REQUIRED TO HAVE A PROPERTY MANAGER? - Yes
and No. Nevada State law requires that you have a representative
in the county or within 60 miles of the rental property. Below
is an exerpt of the statute:
NRS 118A.260 Disclosure of names and addresses of
managers and owners; emergency telephone number; service of
process.
1. The landlord, or any person....
(a) The name..
(b) A telehone number at which
a responsible person who resides in the county or within 60
miles of where the premises are located may be called in case
of emergency.
That also means that an owner can not use a 1-800 number or
an answering service for "taking calls". An owner
doesn't necessarily have to use a property manager. There
are two other options. First, the owner can manage the rental
themselves if they meet the above criteria of living in the
county or within 60 miles of the rental or they can engage
someone as an employee to handle the rental. Of course that
gets messy with taxes, deductions, workers compensation, insurance
etc.
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HOW MUCH WILL MY UNIT/PROPERTY
RENT FOR? - We base the rental fee on several
factors including size, property type, amenities, as well as
what other comparable properties have been leased for. We are
a member of the Greater Las Vegas Association of Realtors and
have an extensive database available through the Multiple Listing
Service (MLS). Below are some average rental prices based on all the MLS listings.
Average rental all property types = $1088.00 month
Average Single Family Home rental = $1204.00 month
Average Home larger than 2000 sq ft = $1661.00 month
Average Home between 1500-2000 sq ft = $1097.00 month
Average Home less than 1500 sq ft = $ 908.00 month
Average Condominium/Town home = $ 845.00 month
Average Unit - Fourplex, Apt. = $ 650.00 month
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| HOW LONG WILL IT TAKE TO RENT
MY PROPERTY? - Las Vegas is currently enjoying
a tremendous growth spurt. Vacancy factors throughout the city
are well below 5%. The fastest turn without having a tenant
previously lined up has been 1.5 hours. The average time is
about 21 days. Many factors influence demand. The biggest of
course will be price. Price actually has two faces. Price as
compared to other similar properties, and price in and of itself.
If the subject rental is $2,500.00 per month, there is a much
smaller market from which to draw a qualified tenant than for
a property priced below $1000.00 per month. This means that
usually it will take longer to rent a property with a higher
rental price. |
| WHEN DO YOU MAIL THE OWNERS
CHECKS? - Owners checks are initially mailed
out on the 10th of the month. Sometimes tenants are late with
their payments. For those properties we have a second round
of checks that go out on the 20th of the month. It is always
good for owners to keep their mortgage payments paid at least
one month in advance in the event that a tenant does not pay
on time or there is an eviction. |
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