At Rice Real Estate & Property Management, we know that profitable long-term rentals in Las Vegas start with two core documents: a fair property management agreement and a strategically crafted lease. These aren’t just forms—they’re the foundation of your rental portfolio’s performance.

Las Vegas is a fast-evolving rental market with high demand, landlord-friendly laws, and strong ROI potential. But success isn’t guaranteed. Whether you’re building a portfolio from out of state or just starting with your first investment, knowing what to look for in these two documents is key.

What You’ll Learn:

🔍 What to expect—and what to demand—in a property management agreement

📄 How our residential lease is engineered to reduce vacancy, prevent disputes, and protect your asset

💡 Investor-specific insights that make or break long-term rental success in Las Vegas

Rice Real Estate & Property Management empowers out-of-state real estate investors with proactive processes and a lease that leaves nothing to chance. If you’re looking for turnkey investment property services in Las Vegas, understanding a management agreement is the first step toward unlocking reliable cash flow, asset preservation, and a truly passive experience.

The Smart Investor’s Guide to A Property Management Agreement

Investors don’t skim agreements—they study them. At Rice Real Estate & Property Management, we love that. Below, we break down the key clauses that matter most to investors—and how they work to protect your cash flow, your asset, and your time.

Clear Compensation Structure with No Hidden Fees

Our fee structure is straightforward and performance-driven. We charge 8% of the monthly rent as the management fee.

No marketing markup, no maintenance upcharges, and no games. Everything is clearly disclosed upfront so you can project returns accurately.

Trust Accounts and Owner Reserves: Financial Security First

Your funds are safeguarded in a Nevada-compliant Operating Trust Account with Wells Fargo Bank. We require a $300 reserve balance to cover operating costs and maintenance emergencies. These funds remain your property and are only used for property-related expenses.

Repairs, Habitability, and Emergency Authorization Limits

Unless it’s an emergency or health/safety issue under NRS 118A, we seek your approval for repairs over $500. Our vendor network is licensed, insured, and cost-conscious.

We also:

Coordinate move-in/move-out condition reviews
Manage landscaping for HOA compliance
Coordinate annual palm tree trimming

This protects your asset while avoiding surprise charges.

How Rent Is Collected, Held, and Paid Out

We collect rent, late fees, and deposits. Here’s how we handle it:

Tenant security deposits are held in a separate, state-regulated security deposit trust account
Owner funds are disbursed monthly by the 10th via EFT (electronic funds transfer)
Late fees and NSF fees are retained by Rice Real Estate & Property Management

Our collection processes are fast, structured, and backed by industry best practices.

Leasing Authority, Tenant Screening & Legal Protections

We don’t let just anyone rent your home. Our agreement gives us the authority to:

Advertise, show, and lease your property
Use our proven 21 point tenant scoring system
Enforce leases, initiate legal notices, and coordinate evictions

We use TransUnion SmartMove for credit and background screening, and we evaluate income, debt-to-income ratio, payment history, and rental references. Tenants with evictions or unpaid utilities? Rejected.

We also require every tenant to carry renter’s insurance, and we document every lease renewal with market justification.

Insurance Requirements: Asset Protection Isn’t Optional

Our agreement requires owners to carry a minimum of $500,000 in liability coverage, with Rice Real Estate & Property Management named as an Additional Insured. If there’s a pool, $1 million in liability coverage is required.

Why? Because the fastest way to kill ROI is to be underinsured.

HOA Coordination and Violation Response

If your rental is in an HOA, we:

Notify the HOA of our management authority
Request that all violations be sent to us directly
Coordinate resolution with tenants promptly

HOA violations can spiral into fines and legal action—our lease agreement and standard processes build in protections so that doesn’t happen.

Lease Termination & Transition Policies

We’re not afraid to talk about the breakup. If you terminate before the lease expires, our agreement outlines:

It’s all there in black and white so expectations are aligned from the start.

Annual Evaluations & Asset Visibility

We don’t just send monthly statements and disappear.

Our management includes:

Annual interior/exterior property evaluations (aka Quality Assurance Checks)
Inspection photos provided through the Owner Portal
Coordination with vendors for HVAC, irrigation, smoke detectors, pest control

We don’t guess—we verify.

Tax & Financial Reporting Made Simple

We provide:

Monthly cash flow statements
Year-end 1099s and income summaries
Expense receipts for all vendor services

Foreign owners? We help you comply with FIRPTA (Foreign Investment in Real Property Tax Act) by flagging reporting requirements upfront.

Pet Policies and Property Protections

Tenants with pets? We charge additional deposits ($300–$500 per pet), screen all pets, and ensure lease terms hold tenants responsible for damages. We also offer a pet guarantee.

At Rice Real Estate, this isn’t just a management agreement—it’s a roadmap for protecting your capital, minimizing stress, and unlocking performance. From compliance to collections, repairs to renewals, we built every clause with your best interest in mind.

Want to know if your current property manager holds up to this standard? Let’s talk.

Why Serious Investors Care About the Lease Agreement: A Behind-the-Scenes Look at Ours.

At Rice Real Estate & Property Management, our lease agreement isn’t just a legal form—it’s a strategic blueprint that protects rental income, asset value, and your peace of mind as an investor in Las Vegas.

If you’re building a rental portfolio from out of state, you need more than a property manager—you need a legally bulletproof lease that reflects investor priorities: enforceability, clarity, tenant accountability, and proactive protections. Here’s how Rice Real Estate & Property Management crafts leases that do exactly that.

High-Performance Leasing: Built to Minimize Risk and Maximize Cash Flow

We don’t believe in copy-paste lease templates. Our custom lease and addendum were designed with one thing in mind: protecting your ROI at every phase of the tenancy.

Here’s what sets our lease apart—and why it matters to investors:

Strict rent payment timelines with late fee enforcement on the 2nd of each month
Certified fund requirements after a single returned payment
Immediate lease violation triggers for unauthorized pets, subleasing, or illegal activity
Detailed tenant responsibilities for HVAC filters, landscaping, irrigation systems, and minor repairs
Enforceable move-out conditions with itemized key/remote return policies and cleaning expectations

Clause Spotlight: Late Fees, Non-Payment, and Rent Collection

Most landlords dread chasing down rent. We prevent that altogether.

Rent Due: Posted on the 25th of the prior month and is due on the 25th. There is a grace period between the 25th and the 1st
Grace Period: Ends on the 1st
Late Fee: 5% of the outstanding balance applied on the 2nd
ACH Penalties: A $75 dishonored ACH fee applies for failed bank drafts
Certified Funds: Required after just one dishonored payment

📌 Why It Matters: Investors avoid “grace-period drift,” preserve consistent cash flow, and have recourse for enforcement.

Security Deposit Enforcement and Adjustability

Our lease allows us to increase the security deposit mid-tenancy with 30 days’ notice if:

Rent increases
Pet approvals change
Damage risk escalates

Additionally, deposits are forfeited immediately if tenants attempt to apply them toward final rent—eliminating ambiguity and giving us legal standing for recovery.

📌 Investor Advantage: Ensures asset protection scales with evolving property risks and rental rates.

Property Condition: “As-Is” Leasing with Documentation

Before keys are handed over, tenants sign:

A Property Condition Report
Acknowledgment of as-is cosmetic condition
Agreement that no cosmetic repairs will be made post-move-in

We back this up with 500+ time-stamped move-in photos to eliminate disputes.

📌 Why It Matters: Minimizes move-out arguments and keeps deposit deductions enforceable in court.

Landscaping & Irrigation Accountability

In Las Vegas, landscaping neglect = HOA fines and property value damage.

Our lease:

Requires tenants to manage the irrigation system
Holds them responsible for dead landscaping due to insufficient watering
Allows us to assign professional landscapers and bill tenants directly
Adds a $25 Tenant paid coordination fee for vendor oversight

📌 Investor ROI Benefit: Reduces deferred maintenance and HOA issues, protecting curb appeal and long-term value.

Tenant Repair Responsibilities: Clarity = Cost Control

Our lease clearly defines the $75 threshold for tenant-responsible repairs. Common items include:

HVAC filter changes (required monthly)
Minor irrigation fixes
Replacing smoke detector batteries
Broken glass or screens caused by tenant negligence

📌 Investor Control: Prevents repair inflation and sets firm boundaries for tenant financial responsibility.

Pet Screening & Compliance Enforcement

All pets and emotional support animals must be screened via PetScreening.com and approved in writing. Fines for unauthorized animals start at $1,000.

Approved pets:

Require a $150 non-refundable pet fee
Must have proof of spay/neuter and vaccinations
Can be removed if deemed dangerous or a nuisance

📌 Why It Matters: Reduces liability, damage risk, and insurance exposure for investor-owned properties.

HOA Violations: Tenants Pay the Price

HOA fines from tenant behavior? Not your problem.

Our lease:

Makes tenants financially responsible for all HOA violations
Adds a $50 admin fee per notice to their ledger
Requires photo proof of correction and direct tenant-HOA communication

📌 Investor Safeguard: Keeps your reputation and property in good standing—without financial hit.

Lease Breaks: Defined, Enforceable, and Profit-Protecting

If a tenant wants to exit early, here’s what happens:

A $995 lease-break fee is charged immediately
Showings require tenant coordination
Tenant remains financially responsible until a new lease is signed and possession is taken
Utilities must stay on through new move-in

📌 Investor Strategy: Reduces vacancy losses and ensures full monetization of the lease term.

Move-Out Clarity: Clean, Documented, and Billable

Our move-out checklist removes guesswork:

Required professional carpet cleaning (receipt mandatory)
Full cleaning expectations, including appliances, windows, baseboards, and garage
Defined costs for each missing key or remote
Itemized deductions within 30 days per NRS 118A.242

📌 Investor Benefit: Reduces turnover downtime and ensures cost recovery.

Resident Benefits Package

Every lease includes a $35/month Resident Benefits Package with:

Filter delivery (reduces HVAC issues)
24/7 maintenance portal
ACH fee forgiveness (1 per lease)
Credit reporting for tenants
Utility concierge setup
Lease verification and homebuying support

📌 Why It Matters: Enhances tenant retention, improves maintenance compliance, and supports long-term occupancy.

Ready to Protect Your Investment with a Smarter Lease?

The average lease protects the tenant. Ours protects your investment. At Rice Real Estate & Property Management, every clause is written with purpose—to reduce your risk, limit your liability, and maximize your rental income in Las Vegas and Henderson.

💼 Investor-Specific Insights That Make or Break Long-Term Rental Success in Las Vegas

Las Vegas offers strong returns—but only if you manage the details with precision. These are the high-impact insights we apply every day for investor clients at Rice Real Estate & Property Management:

Know the HOA landscape: Over 60% of Las Vegas homes fall under HOA jurisdiction. Unpaid fines, courtesy notices, and landscaping violations can eat into profits fast. Our lease holds tenants accountable for all HOA compliance—and bills them directly.
Beware of “rent-ready” shortcuts: Investors who skip minor upgrades—like updated flooring, neutral paint, or refreshed landscaping—can experience 2–4 weeks longer on market. We prep rentals with laser focus on what boosts rent without overcapitalizing.
Demand airtight lease enforcement: Our lease includes enforceable late fees, no rent-credit use of security deposit, defined tenant repair limits, and a detailed early termination policy—essential in a transient market like Las Vegas.
Out-of-state = higher operational risk: We include 500+ move-in photos, mid-lease property visits, and a Resident Benefits Package that encourages maintenance compliance.
Local laws evolve fast: In 2023–24, we saw regulatory shifts around application fees, notice delivery, and lease break penalties. Our agreements stay current with Nevada landlord-tenant law and local court trends to protect investor interests.
Data beats guesswork in pricing: Pricing based on Zillow estimates or general market averages will lead to underperformance. We use zip-code specific comps and days-on-market trends to strategically price for low vacancy and maximum rent.

Why Rice Real Estate & Property Management?

Long-term rentals in Las Vegas? That’s what we do best.

We live and breathe this market. From Summerlin to Silverado Ranch, we know which rentals move fast, what tenants want, and how to price for performance—not just occupancy.
We handle everything (so you don’t have to). Leasing, screening, maintenance, renewals—it’s all dialed in. You stay in control, we handle the day-to-day.
We actually keep you in the loop. No radio silence, no surprises. Just clear updates, straight answers, and a management team that treats your property like it’s our own.

We lease fast, manage proactively, and keep you looped in on the important stuff—without boring you with the day-to-day operations of the rental.