Property Management

READY TO RENT OUT YOUR PROPERTY?

                  We realize this can be a scary & exciting time for you – we are here to help make this a smooth process!

                  If you are currently under a Property Management agreement with another company, please be sure to review the terms of the agreement and provide notice to the current management company before entering into a contract with us.

                  The first step is to prepare and give you a 'start up package' that will include all forms and agreements we'll need to start. At your request, we can certainly mail, fax or email you the forms if that's more convenient for you. Once all documents are completed and returned, we can get started.

                  Be sure to continue making your regular monthly payments such as mortgage, HOA dues, utilities, etc. Once we identify a Tenant for your property, we will coordinate the conversion of utility services. HOA dues & assessments, insurance on the structure, property taxes and mortgage payments will continue to be your responsibility.

FEES

  • Windermere Anthem Hills charges $100 as a set-up charge. This includes all start-up costs for getting you and your property set up in our database, files, your online owner portal and with our book keeper for accounting set up. This fee will be deducted from the rent collected from your new Tenant.
  • The monthly Management fee is 10% of the monthly collected rent, with a minimum of $100/month. This fee does not apply while the home in vacant between Tenants.
  • Each time a new tenant is secured for the property, you will see a leasing charge of $100 – this goes toward the cost of taking photos, advertising, fliers, checking on the property while vacant, and running the necessary background, criminal, eviction history checks etc.
  • In general, the industry standard commission toward the agent procuring a new tenant is $300 and this will also be deducted from the first month’s rent.
  • In extreme circumstances (such as a fire/flood), additional fees may apply, but will be discussed with you first.

ADVERTISING

                  People find homes to rent in different ways. Some are referred by neighbors, others drive by and see the sign in the yard –  while others use a Real Estate agent or research online. With the MLS (Multiple Listing Service), rental signs, and internet advertising (Zillow, Trulia, Hotpads etc.), you'll have maximum exposure to reach the people looking to rent.

PETS

                  The majority of renters have pets. We prefer to advertize that all of our properties will consider pets, so that potential renters are upfront about the pets they have instead of trying to sneak them in later. When we present the potential Tenant to you for approval, we will also discuss any pets with you.  You are never required to accept the application or the pets – simply tell us you'd like to decline the application. If you do accept the Tenant with pets, an additional refundable pet deposit of $500 will be collected. If damage exceeding the pet deposit occurs, the remainder will be deducted from the security deposit.

SCREENING TENANTS

                  We want good Tenants just as much as you do – it makes our job easier! It is our goal to obtain the highest qualified Tenant possible for your property. To achieve that goal, we review the applicants profile based on credit history, current employment and income, rental/ownership history, eviction record, criminal records and ability to pay the monthly rent.

The final decision on whether to approve or decline all applicants is up to you. 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

                  Windermere uses the Lease Agreement provided by the Greater Las Vegas Association of Realtors®. We will always strive to secure a one-year commitment from new Tenants. New Tenants are invited to our office to sign the lease, remit deposit, and to go over the Lease Agreement in detail. The time we spend with the Tenant explaining the lease is very important as it substantially reduces any confusion during the terms of the contract. This time also gives us the opportunity to answer questions and address concerns the Tenant may have. Starting off on the right foot helps us to begin a successful landlord/Tenant relationship.

                  Security Deposits and initial rent payments are always collected via Certified Funds. Personal checks, money orders, cashier's checks & online payments are accepted for rental payments going forward. In the event the Tenant begins a pattern of personal checks that do not clear, we will no longer accept personal checks from the Tenant to ensure future payments clear without issue.

DETERMINING THE BEST RENTAL AMOUNT

                  We will run a Comparative Market Analysis to determine where the rental market is for properties similar to yours. We will make recommendations and help you to determine the most marketable price point for your rental. Factors such as square footage, location, number of bedrooms/bathrooms and other amenities will establish fair market value in comparison to similar homes currently on the market and those recently rented.

SECURITY DEPOSITS

                  As additional protection to you, we require a security deposit before a property is taken off the market. Security deposit amounts can vary based on the monthly rental rate. In the case of pets, the $500 additional deposit per pet will be required. In addition to the normal security deposit and any pet deposit required, we also charge each Tenant a non-refundable cleaning fee which varies based on the size of the property. When the tenant vacates, we will contract with a cleaning service and ensure the property is clean to our standards for the next Tenant. In the event the amount of the cleaning is over this amount, the balance is deducted from the security deposit.

                  Proper notice and completion of the lease term is required for the Tenant to be considered for security deposit reimbursement. We will require all personal belongings and trash to be removed from the property at the expiration of the lease. If they are not, the charge for removal of these items will be deducted from the security deposit. We will compare condition at move out to the condition at move in to determine if any repairs are needed above normal wear and tear and charge the tenant from the security deposit accordingly. A complete security deposit disposition will be completed and forwarded to the Tenant  within 30 days of move out per Nevada state law.

COLLECTING RENT

                  Rent is due on the first day of each month. Because social security and other state checks are not received until the third in most cases – we may allow a grace period in certain circumstances. Collection/eviction proceedings begin no later than the fifth of any month rent has not yet been received via filing of a “5 Day Pay or Quit” which is the first step in notifying the tenant that non-payment of rent is a serious matter. Most of the time, the Tenant will pay the rent before the notice expires. If they do not, we will file for formal eviction and will represent you in court.

TENANT RETENTION

                  Our most challenging job as a Property Manager is not managing the property but in managing the Tenants. Good Tenants are the key element to any successful rental property investment. Keeping Tenants happy to ensure the longevity of the Tenant's occupancy is critical. Quick issue resolution will satisfy a Tenant more than anything else we can do for them and ask your cooperation in helping us achieve this mission.

MAINTENANCE

                  We understand your need as a landlord to be kept informed of your property's condition. We will do our best to contact you as per your instructions and for the level of issues requested. On emergency maintenance issues, we will use our best judgment on making repairs over your specified authorized amount. Emergency maintenance includes but is not limited to loss of A/C or heat, water damage, main drain stoppage, electrical problems or those that put Tenants safety at risk. Most emergency repairs can be fixed at the time of the service call, and others will require replacement of larger items. There are a wide range of honest and reasonably priced vendors for every area of repair your property may need and we always maintain a 'preferred' provider listing, however, we can also use your preferred licensed vendor if you have one. Prior to major repairs, we will contact the builder or home warranty company if applicable.

                  Prompt attention to maintenance items keeps Tenants smiling and will prevent minor problems from turning into larger ones down the road.

INSURANCE
                  We require that all home Owners secure "Landlord’s" insurance. Your policy should name Windermere Anthem Hills as an additional insured and your liability coverage must be at $500,000 minimum. This is considered the minimum standard for an investor/landlord. This coverage will protect you, the Tenant, and us against a wide range of losses caused by unintentional hazards or unsafe conditions on your property. Your insurance company should be able to provide all information regarding this type of coverage and answer any questions you may have.

                  Additionally, we require all Tenants to have renter's insurance and to provide us a copy of the policy before keys are received. We also require an updated copy with each lease renewal to ensure the policy is still in place.

INSPECTIONS

                  At the time of each move out, there is a complete inspection of the property and its condition is compared to the condition at move-in.  Additional internal inspections of the property may occur during the lease term as warranted or as requested within reason according to Nevada state law.  An external inspection of the property will occur at least one time during each Tenant lease term.

                  The property will be marketed after it is inspected and in an acceptable rental condition with all repairs and cleaning completed as deemed by the Property Manager.

FINANCIAL

                  Any repair charges incurred during the monthly rent cycle will be processed and paid from the following month’s rent. We will not require payment directly from you unless a major repair is needed that will exceed the monthly rent. After each month’s rent is processed, you will have access to an online Owner’s Portal to view that month’s statement along with any invoices applied.

                  Around January 25th of each year, the year-end report (for the prior year), including your 1099, will be mailed to you. Please be sure to keep us updated of any change in your mailing address.

MISC

                  Windermere Anthem Hills and we as your Property Manager cannot enforce any commitment made by and between the property Owner and Tenant if Property Manager is not present or the agreement is not in writing and signed by the Owner and Tenant.

 

Windermere Anthem Hills is a full service Real Estate Brokerage firm. In addition to Property Management, we also specialize in investment properties and the acquisition and disposition of properties and we would be happy to assist you with any home purchase, sale or rental needs.