FREQUENTLY ASKED QUESTIONS

WHERE ARE YOU LOCATED? - Our address is 5001 E. Bonanza #166, Las Vegas, NV 89110. We are located on the southwest corner of Bonanza and Nellis in the Sunrise Plaza shopping center.

WHAT DO YOU CHARGE? - Our rates vary from 8%-10% with 9% being the most common. There are several factors that would determine the percentage charged, such as amount of rent to be collected and type of property.

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 excerpt 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 telephone 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.

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

HOW LONG WILL IT TAKE TO RENT MY PROPERTY? - Las Vegas is currently enjoying a tremendous growth spurt. 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 mailed out on or before the 10th of the month. Sometimes tenants are late with their payments. 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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