- 8% of gross monthly rent (minimum $100)
- $400 Tenant Placement or 25% of first month’s rent
- Our initial startup fee is $295 and only paid once.
Rent rates are increasing.
Rent rates are steadily increasing in our market. Demand for rentals has also increased. Increased demand = decreased supply = increased rental rate. Simple economics! Make sure you are aware of the increasing rent rates to ensure your property isn’t undervalued in our strong rental market.
We have a detailed tenant screening process.
Securing great tenants is in everyone’s best interest. We use a state-of-the-art resident screening process that looks at such things as income, credit, rent payment history, employment history, background check and other factors that indicate the likelihood the tenant we place in the home will perform according to his/her obligations under the rental contract. Review our Scoring Card here.
We utilize the most effective ways of marketing your property.
Rice Real Estate is very serious about finding highly qualified tenants and do everything possible to capture the greatest applicant pool. Our rental properties appear on numerous websites such as Redfin, Hotpads, Trulia, Zillow, Lovely, Realtor.com, Facebook, ListHub (feeds to over 40 rental websites) and our proprietary website www.VegasRented.com. We also advertise directly to 11,000+ local agents.
Unlike most of our competitors we understand the importance of being available when the prospective tenant has the time to look. For this reason we answer & respond to rental phone calls & texts every day of the week, including Saturdays and Sundays. We are also available to show vacant properties 7 days a week. The prospect who is told they can look at a property a few days later is the prospect who is lost to a competing property.
A well-priced rental property in today’s market should rent within 30 to 45 days. However, Rice Real Estate’s average days on market ranges between 14-21 days. Our rigorous screening process and detailed scoring system help ensure we secure highly qualified tenants for all of our rentals.
HOW MUCH RENT WILL MY PROPERTY BRING?
Rice Real Estate performs ongoing rent surveys of the Henderson/Las Vegas market to stay abreast of changes in the marketplace. We will recommend a rental rate based on a number of factors, including how quickly you need to rent the property and how the property stacks up against the competition in the local market.
Our recommendation is just that – a recommendation. Should you desire, you can have the final say as to the rental rate.
WHAT KIND OF CONDITION DOES MY PROPERTY NEED TO BE IN TO FIND A QUALITY TENANT?
The property’s condition is one of the most important aspects of marketing a vacant rental property. Properties that are not “Rent Ready” when they’re placed on the rental market tend to be slower to rent and attract renters who are not only willing to settle for less than top quality, but who treat their rental properties with less care and concern than we want to achieve for our owners. Furthermore, quality renters typically can’t envision what the property will look like after we do this or that…telling the prospect we’re going to be painting, or going to be replacing carpets is virtually useless. The first impression of a vacant property is the lasting impression of that property. That’s why we urge our owners to take care of the basics: fresh paint, clean floor coverings, functional window blinds, and everything in good working order. The results are always much better when we approach the marketing process with a Rent Ready home!
ARE PETS ALLOWED IN RENTAL PROPERTIES?
The final decision as to whether or not to allow a pet (or pets) is always the owner’s (except for service animals as permitted by law). However, we strongly recommend you allow us to market the property as a “pet friendly” rental, one that allows pets on a case-by-case basis. Approximately 62% of the households in the US have pets. By eliminating the ability to allow pets on a case-by-case basis we’re essentially eliminating over half the pool of qualified renters for your property. When considering pets, we look at such factors as the breed of the animal and the prospect’s history in renting with a pet. We also recommend higher security deposits when a pet is approved thereby giving you added assurance that, should there be any damage to the property, the tenant has enough at stake to make it right when they vacate.
WHAT HAPPENS WHEN MY PROPERTY NEEDS A REPAIR?
Any repair or maintenance costing less than $300 will be executed by Rice Real Estate’s staff. Most repairs costing more than $300 will be subject to the owner’s approval. Whenever possible, we will also contact an owner’s home warranty company first, if a policy number and phone number have been provided.
Emergency repairs do not require prior owner authorization. Emergency repairs are defined as property-threatening, where failure to immediately remedy the situation will result in further damage to the property and/or safety of the tenant. By law, owners are required to maintain their property in a “habitable” condition for their tenants at all times.
Examples of emergency repairs include: flooding, no heat, no air conditioning, no running water, electrical sparks or no functional toilet (if only one toilet). Examples of non-emergency repairs include: lack of hot water or failure of an appliance, including a refrigerator.
We do not employ our own maintenance staff and we do NOT profit from any maintenance work done on your property.
WHAT HAPPENS IF MY TENANT DOESN’T PAY RENT?
Rice Real Estate enforces a very strict rent collection policy to promote our owners’ interests. All rent payments are due on the 25th of every month, and late on the 2nd day of the month (For example, April’s rent would post on March 25th and be due April 1st). If rent is unpaid on the 2nd day of the month, we make contact with the tenant, and a late charge may be assessed. If the rent remains unpaid by the 3rd day of the month (or, next business day, if the 3rd falls on a weekend or holiday) an eviction notice for non-payment of rent may be served. The tenant is held liable for the costs of filing and serving the notice.
Under Nevada law, the tenant then has 5 judicial days to pay the rent or vacate the property. In our experience, most tenants will pay full rent before the expiration of the notice. If the tenant does not pay or vacate within the 5 days prescribed, the next step is a court order for lockout. Through a 3rd party eviction company (additional fees apply) this is a process we can coordinate for you.
WHAT HAPPENS IF THE TENANT VACATES AND LEAVE THE PROPERTY DIRTY OR NEEDING REPAIRS?
Rice Real Estate will conduct a move-out inspection of the property, once it becomes vacant. We then compare the move-in inspection (including photos) with the move-out to determine what items are chargeable to the tenant. Repairs and cleaning, which are the tenant’s responsibilities, are charged against the tenant’s security deposit.
WHO HOLDS MY TENANT’S SECURITY DEPOSIT?
Nevada law requires us to hold tenant security deposits in a trust account separate from owner funds.
HOW OFTEN DO YOU CHECK ON MY RENTAL PROPERTY?
We perform annual inspections of all occupied properties. We are also able to notify neighbors on how to reach us if they have a concern about the property. If we have reason to believe there may be a problem (a call from a neighbor, repeated late rent, or other indicators), we’ll perform an interior inspection on a minimum 24 hours’ notice.