Southern Highlands Property Management

Southern Highlands Property Management

One of the main reasons we are one of the best Southern Highlands property management companies is because we actually love what we do. We truly care about Tenants and understand they are an integral component to making the Tenant/Landlord relationship successful.

All Realtors abide by a formal Code of Ethics but to be successful in property management you truly have to care for all parties involved. Our company mission is to make life better through property management which means making both Owners lives and Tenants lives better with quality management.

Owning rental property in Southern Highlands means staying on top of changing landlord & tenant laws. Here’s a brief legal minute to keep you updated. Information most recently updated January 2022. 

Rising Rents: Landlords & Tenants Working Together

As a Southern Highlands property management company we stay abreast of the latest changes and amendments to Nevada Revised Statues NRS 118-118A  which govern landlord and Tenant law in Nevada.

Question. Is there a cap on how much a landlord/property manager can raise the rent?
Answer. No, but with that said, if the landlord wants to raise rent rates, it’s important for the property manager to have a sit-down with their client to discuss the full picture. Property manager to landlord discussions should identify the delicate balance between raising rent to cover costs (such as property taxes, higher utility costs, HOA dues, insurance premiums, property management fees, cost-of-living expenses, maintenance, etc.) and aligning with area rents (using rental price comparison tools, etc.), and weighing that with high tenant turnovers and long periods of vacancies which undermine landlord’s costs.

Additional considerations include:

● Ensuring rent raises do not discriminate which would be illegal under the Fair Housing Act and NRS 118. For example, increasing rent just for a particular racial group, for families, etc.

● Rent increases should not be in retaliation based on something a tenant did. For example, if the tenant complained in good faith of a violation of a building, housing or health code to the city or health department and the landlord responds with a rent increase (NRS 118A.510).

● Lastly, the timing of rent increases is important; it cannot occur during the current lease. The appropriate time would be at the lease-renewal time or with proper notice: for a periodic tenancy of 1 month or more, 60 days in advance of the first rental payment to be increased; for a periodic tenancy of less than 1 month, 30 days in advance of the first rental payment to be increased.

**Note, NRS 118A.300 was amended during the 2021 legislative session enlarging the notice requirement for increases in rent [for monthly tenancies and longer up from 45 days, for tenancies less than a month up from 15 days]. Effective July 1, 2021.**

Did you know there is a Code of Ethics for Realtors?

Code of Ethics and Standards of Practice of the National Association of Realtors® Effective January 1, 2020. Where the word Realtors® is used in this Code and Preamble, it shall be deemed to include Realtor-associates®. While the Code of Ethics establishes obligations that may be higher than those mandated by law, in any instance where the Code of Ethics and the law conflict, the obligations of the law must take precedence.

Preamble

Under all is the land. Upon its wise utilization and widely allocated ownership depend the survival and growth of free institutions and of our civilization. Realtors® should recognize that the interests of the nation and its citizens require the highest and best use of the land and the widest distribution of land ownership. They require the creation of adequate housing, the building of functioning cities, the development of productive industries and farms, and the preservation of a healthful environment.

Such interests impose obligations beyond those of ordinary commerce. They impose grave social responsibility and a patriotic duty to which Realtors® should dedicate themselves, and for which they should be diligent in preparing themselves. Realtors®, therefore, are zealous to maintain and improve the standards of their calling and share with their fellow Realtors® a common responsibility for its integrity and honor. In recognition and appreciation of their obligations to clients, customers, the public, and each other, Realtors® continuously strive to become and remain informed on issues affecting real estate and, as knowledgeable professionals, they willingly share the fruit of their experience and study with others. They identify and take steps, through enforcement of this Code of Ethics and by assisting appropriate regulatory bodies, to eliminate practices which may damage the public or which might discredit or bring dishonor to the real estate profession. Realtors® having direct personal knowledge of conduct that may violate the Code of Ethics involving misappropriation of client or customer funds or property, willful discrimination, or fraud resulting in substantial economic harm, bring such matters to the attention of the appropriate Board or Association of Realtors®. (Amended 1/00)

Realizing that cooperation with other real estate professionals promotes the best interests of those who utilize their services, Realtors® urge exclusive representation of clients; do not attempt to gain any unfair advantage over their competitors; and they refrain from making unsolicited comments about other practitioners. In instances where their opinion is sought, or where Realtors® believe that comment is necessary, their opinion is offered in an objective, professional manner, uninfluenced by any personal motivation or potential advantage or gain.

The term Realtor® has come to connote competency, fairness, and high integrity resulting from adherence to a lofty ideal of moral conduct in business relations. No inducement of profit and no instruction from clients ever can justify departure from this ideal.

In the interpretation of this obligation, Realtors® can take no safer guide than that which has been handed down through the centuries, embodied in the Golden Rule, “Whatsoever ye would that others should do to you, do ye even so to them.”

Read the entire National Association of Realtors Code of Ethics here.

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We are committed to Quality Southern Highlands Property Management

Owner FAQs

Our Owner FAQ section was designed to help navigate some of the questions that come up in property management.

Pricing

Our firm has crafted a culture designed around full transparency, reliable communication, and technology.

Areas We Serve

We are selective when it comes to new partnerships in ensure we provide the highest level of attention to each Owner.

Related Posts

Southern Highlands Property Management

We always strive to increase owner profit while focusing on preserving the integrity of the investment. Our efficient vendor accounts payable strategy provides us priority scheduling and preferred pricing. We manage with an Owner’s Mindset.

Investment Focused Property Managers

Southern Highlands Property Management

Investment property ownership is rewarding but maintenance and tenant management can be a challenge to navigate. It’s time to turn your rental property over to a trustworthy, experienced partner like Rice Real Estate & Property Management.

We manage with an Owner’s mindset and quickly turn properties over to find quality Tenants within 7-14 days. We have never had to evict a Tenant we screened and placed into a managed rental property.

Our Southern Highlands property management team has crafted a culture designed around full transparency, reliable communication, and technology for both Owners and Tenants.

Let Us Help You Rent Your Home…Join Las Vegas’ Premier Property Management Company

Common Questions

How Are Applicants Screened?

Our strongest work must take place with the screening process. Securing great tenants is in everyone’s best interest. We use a state-of-the-art resident screening process that analyzes 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. Note: by utilizing our scoring card, Rice Real Estate has never had to evict a Tenant we placed into a managed rental property. Download Rice Real Estate’s Scoring Card here.

How Is Turnover Minimized? 

Quickly following up on maintenance requests not only keeps the tenant happy but will also keep the property in good condition. We will advise our owners on what items should be repaired versus replaced, deferred versus immediate. Rice Real Estate maintains a proper balance between tenant loyalty and maximizing income.

Protecting your asset also means using experienced repair and maintenance professionals. Rice Real Estate maintains excellent relationships with highly rated vendors. This allows us to quickly and correctly diagnose problems and fix them right the first time. Rice Real Estate diligently protects your asset by ensuring your home is maintained properly.

How Do We Market And Advertise?

Rice Real Estate is very serious about finding highly qualified tenants and does everything possible to capture the greatest applicant pool. Our rental properties appear on numerous websites and we advertise to 11,000+ local agents.

Unlike most of the property management companies in Las Vegas we understand the importance of being available when the prospective tenant has the time. For this reason, we answer and respond to phone calls, text messages and emails every day of the week, including Saturdays and Sundays. Rice Real Estate’s average days on market for a “rent ready” vacant property averages 7-14 days.

Our rigorous screening process and detailed scoring system help ensure we secure highly qualified tenants for your property. Note: by utilizing our scoring card, Rice Real Estate has never had to evict a Tenant we placed into a managed rental property. Download Rice Real Estate’s Scoring Card here.

How much rent will my property bring?

Rice Real Estate performs ongoing rent surveys of the Henderson and 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.

Are Pets Allowed In Rental Properties?

An Owner makes the final decision if pets are allowed in a rental property. However, keep in mind that 65 – 70% of tenants will have a pet of some type. If you do not allow pets, you are immediately negatively impacting your market.  We can certainly still rent your home but it might take a little longer so you could experience extended vacancy and therefore lost rent.  If you do allow a pet, a pet addendum will be signed and additional security deposit is required.

Don’t confuse a “pet” with a “service” or “companion” animal.  It is illegal to discriminate against service animals, so we will absolutely rent to a tenant with a verifiable service animal.  We cannot take any additional security deposit, nor can we decline any specific breeds that we might otherwise not allow in our properties.

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.

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 post 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 7 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 7 days prescribed, the next step is a court order for lockout.

What Happens If My Tenant Vacates And Leaves The Property Dirty Or Needing Repair?

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 above normal wear and tear are chargeable to the tenant. To read more about “normal wear and tear” of a rental property click here.

Who Holds The Security Deposit?

Nevada law requires us to hold tenant security deposits in a trust account separate from owner funds.

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Years Experience

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Houses Managed

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Happy Tenants

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move-in photos

Our Commitment to Southern Highlands Property Management

Rice Real Estate is a full service Southern Highlands Property Management company offering worry-free rental property management. Rice Real Estate is committed to connecting responsible property owners with quality residents to ensure a stress-free experience. Rice Real Estate specializes in high-end residential property management of unfurnished homes in Las Vegas and Henderson. We are a full-service, locally owned and operated Southern Highlands Property management company.

Rice Real Estate & Property Management manages residential rental properties in the following cities: Las Vegas Property Management, Henderson Property Management, Green Valley Property Management, Green Valley Ranch Property Management, Summerlin Property Management, Summerlin West Property Management, Silverado Ranch Property Management and Seven Hills Property Management.

Owner FAQs

Our Owner FAQ section was designed to help navigate some of the questions that come up in property management.

Pricing

Our firm has crafted a culture designed around full transparency, reliable communication, and technology.

Areas We Serve

We are selective when it comes to new partnerships in to provide the highest level of attention to each Owner