Fees for Residential Las Vegas Property Management Services average 8% of the gross monthly rent collected. To secure a contract closer to 6% an investor needs to own multiple properties (typically a minimum of 10 or more).
For 8% a month, Rice Real Estate’s property management division provides management services that include maintenance and repairs, renovation services, rent collection and leasing for residential properties in the Greater Las Vegas area.
- 8% of gross monthly rent (minimum $100)
- $300 Tenant Placement + $300 MLS referral fee
- Initial startup fee around $295
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.
WHO HOLDS MY TENANT’S SECURITY DEPOSIT?
Nevada law requires us to hold tenant security deposits in a trust account separate from owner funds.
Rice Real Estate’s property management division provides management services which include maintenance and repairs, renovation services, rent collection and leasing for residential properties in the Greater Las Vegas area. Heidi Rice has been managing residential properties since 2001. To that point, we provide not only professional management, but also common sense and personalized service at competitive rates – the cornerstone of our long success in the business.