PROPERTY MANAGEMENT

READY TO RENT OUT YOUR PROPERTY? If you are currently under a leasing contract, you will need to terminate their services according to your agreement with them. At your request we will mail you a complete start up package. Once you return all completed forms, we can get started. Be sure to continue to make your mortgage payments, homeowners association payments if any and other bills associated with the property. We will also need a copy of your landlord tenant insurance policy for our records.

FEES

RE/MAX Advantage charges a $200 set up fee. This includes all start-up costs (advertising, lockbox, for rent sign, fliers, MLS, accounting set-up, etc). Management fee is 10% on all residential properties (applies ONLY when rented). There is also a leasing commission paid by the owner after the property is rented (after rent and deposits have been paid) to the leasing agent of $300.00.

ADVERTISING

People find homes to rent in different ways. Some are referred by neighbors, many search the internet, others drive by and see the sign, some use a real estate agent, and others scan the paper or local publications. With the Review Journal, rental signs, brochures, the multiple listing service (reaching over 14,000 licensed real estate agents), and internet advertising, you’ll have great exposure for your home.

PETS

The majority of families and singles have pets. We prefer advertising - pets are negotiable, so that they will tell us about the pets when they apply instead of trying to sneak them in later. When we present the tenants to you for your approval, we will also tell you about the pet. Each pet will require an additional $200 deposit. If damage exceeding the pet deposit occurs, we will hold funds from security deposits. You are NOT REQUIRED to accept pets, this is completely your decision and we will do our best to meet your requests.

SCREENING TENANTS

We want good tenants as much as you do, it makes our job easier. It is our goal to obtain the highest qualified tenants. To obtain the best tenant we can, we review their profile based on credit, employment and rental or ownership history. We make copies of all identification. We are a fair housing advocate and DO NOT discriminate against any applicant or tenant based on race, creed, color, religion, national origin, handicap or family status.

THE LEASE

RE/MAX Advantage uses the lease/rental agreement provided by the Greater Las Vegas Association of REALTORS. As most owners will agree, we prefer securing a one-year lease. To begin the lease, tenants are invited to our office for a complete explanation of the lease and to obtain signatures. The time we spend explaining the terms of the lease is very important. It substantially reduces confusion during the term of the contract. It also gives us a chance to answer questions and concerns the tenant may have. Starting off on the right foot helps us to begin the landlord tenant relationship. First month’s rent and all deposits must be paid in certified funds. The remaining months, the tenant can write a personal check. If a tenant bounces a check, they will no longer be able to write personal checks for rent.

HOW MUCH WILL MY HOUSE RENT FOR?

We will suggest and help you determine a rental amount through a comparable market analysis and by viewing the property. Factors such as square footage, location, the number of bed and bath rooms, and other amenities establish fair market value in comparison to similar recently-rented homes.

SECURITY DEPOSITS

As additional protection for you, we require a security deposits in the form of certified funds, before a property can be taken off the market. Security deposits are based on the monthly rent with an additional pet deposit. We offer all deposits as refundable, encouraging tenants to leave the property in good condition. This may help avoid taking additional time making repairs and cleaning preparing the property to re-rent. Proper notice and completion of lease term is a must to receiving security deposit refund. Cleaning, including appliances, floors, walls, yard and carpets cleaned are required minimum to prevent deductions from deposits. RE/MAX Advantage will compare condition at move out to move in inspection sheet to determine all costs necessary to rectify any damages to property that exceed normal wear and tear. A complete security deposit disposition report will be completed and forwarded to tenant within thirty days of move out.

COLLECTING RENTS

Rents are due on the 1st day of each and every month. Because social security and state checks are not received by tenants until the 3rd, we allow a grace period until the 5th. Collections may begin on the 10th of the month, leading to possible eviction. After the eviction process has begun rents must be paid with certified funds, no personal checks are accepted. Owner is responsible for eviction fees.

TENANT RETENTION

Our most challenging job as a manager is not managing the property, but managing the residents. Good tenants are the key element to any successful rental property investment. Keeping tenants happy to insure the longevity of the tenant's occupancy is critical. Friendly staff, availability and quick response to questions and maintenance request will satisfy a resident more than anything else we can do for them. We ask our owners cooperation regarding tenant services whenever possible.

MAINTENANCE

We understand your need as a landlord to be kept informed of your property’s condition. We try to contact you per your instructions, and as to what extent in maintenance you would like to be informed. On emergency maintenance, we will use our best judgment on making repairs over your specified authorization amount. Emergency maintenance includes but is not limited to loss of air or heat, water damage, main drain stoppage or electrical problems. Most emergency repairs can be fixed at the time of the service call, some require later bids and replacements such as heating and cooling systems. There is a wide range of reasonably priced honest maintenance technicians for every area of repair your property may need. We do not make a profit on any labor or materials for routine maintenance. Prompt attention to maintenance items keeps tenants smiling and prevents minor problems from turning into high dollar repairs later. Our management fee includes overseeing minor repairs. Any large remodeling jobs, insurance claims, jobs requiring bids, supervision and additional license and reference checking will require an additional a ten (10%) percent charge, this will offset our staff cost to help you through these projects. This fee is not charged for routine daily maintenance. Should a repair be over $500 we will secure three written bids for you from licensed, insured vendors as appropriate. Per the lease agreement the tenant is responsible for any maintenance that is caused by them or their guests. Tenants are responsible for sprinkler heads, owners are responsible for the system itself. Tenants are responsible for window breakage.

INSURANCE

We require you to maintain "Owner, landlord and tenant" insurance. This coverage will protect you, the resident and us against a wide range of losses caused by unintentional hazard or unsafe conditions on your property. Your insurance company should have all this information. We also need to have RE/MAX Advantage added to the insurance (this shouldn’t require additional fees) as additional insured. Your coverage should be at least $500,000.00.

INSPECTIONS

At the time of move in and move out there is a complete written inspection of the property with the tenant. In addition to driving by the property for exterior inspections during the term of the rental agreement. We have a complete interior inspection done each and every year during the term of the lease. If desired, we will do inspections. Inspections may also be done on request.

ADDITIONAL SERVICES AVAILABLE

RE/MAX Advantage is a full service real estate brokerage firm with referrals available. RE/MAX is the nation’s real estate leader. We specialize in investment programs, acquisition and disposition of properties. We have a complete sales, leasing and investment staff to help with any of your real estate needs. We can refer you to loan, escrow, title companies and general contractors. The additional costs of these services are not included in the monthly management fee and individual prices would be established by each company.

WE WILL BE HAPPY TO ASSIST YOU IN ALL OF YOUR REAL ESTATE TRANSACTIONS!