MONARCH PROPERTEIS
Property Management Services
(An affiliate of National Properties, LLC)

                            FINDING YOUR OWN TENANT

Are you the proud owner of a rental investment property?  You are attracted to the allure of equity appreciation of your real estate assets.  Yes, owning rental properties can be financially rewarding, however, the side effects of owning a rental property is discouraging to some landlords.  There is no way around the issues of……..Tenants!!!  Finding them, talking to them, answering their questions, screening them, trusting them, contracting with them, collecting security deposits, having them pay you money for rent, hoping that they don’t trash your property and of course, eviction when they don’t live up to the agreement. 

Most landlords that lease their own property contact the newspaper that services the city.  In the case of Las Vegas, it’s the Las Vegas Review Journal (who happens to also own the Las Vegas Sun).  Or a rental website such as Rent Clicks, or Clark County Rentals, among others. 

If you want to find your own tenant, save a few bucks, and have us manage afterwards, that’s perfectly fine with us, in fact we encourage it because leasing activities is one of our greatest expenses and the most time consuming.  The leasing charges that we charge to the landlords sometimes do not cover our cost in finding tenants and dealing with them prior to move-in.  In fact, most of our leasing duties are FREE; we just hope to have a long relationship with the owner and manage their property for years, therefore, recouping the cost of finding you a tenant.   

Our leasing agents must travel to your property and “evaluate” your property to insure that it is rent ready.  They usually stay at your property for a few hours to install a “for-rent” sign on the property, and install a lockbox, and to insure all the keys work along with the garage door opener and the mailbox and the pool gate and/or the community gate, etc.  They insure that all the utilities work and all the mechanicals of the house work, such as the AC and heating system along with the water heater, etc.  They take numerous pictures of your property so that we have a record of what your property looks like, and we have pictures to input into advertising medias, and have a record of what your property looks like before the tenants arrive (for security reasons or court evidence, etc.)  They also have to determine a fair rental price by shopping your property with other like-as properties.  They canvas the neighborhood to insure that the property is also competitive with “for-rent by owners”, most of which as priced usually lower than what is determined through the MLS and computer system. 

Most of these leasing duties are not complicated; they are just labor intensive and time consuming.  The management company has to pay a salary to our leasing agents for performing these duties and the numerous trips back and forth to your property to “show” your property to your prospective tenants. 

The cost of the advertisement is not our biggest expense; it’s having to have a staff of live people to answer the numerous inquiries that result with the advertisement.  Once your property is being advertised, prospective tenants call and ask numerous questions; such as…Do you allow pets?  What’s included with the rent?  Are the landscape service and pool service included with the rent?  Do I have to pay for maintenance?  Do you accept section-8?  I have bad credit, how do you screen your tenants? Can my boyfriend live with me?  Etc, etc, etc………Having a full-time staff to answer the feedback of advertisement can be quite expensive. 

Some landlords cannot accommodate the phone calls because they work during the daytime hours and upon arriving home in the evening, are in no mood to talk on the phone.  Other landlords just don’t like to talk to tenants.  Some landlords do not like to meet a total stranger at the rental property for obvious reasons.  Some landlords are just plain too busy to use their valuable time to talk to numerous people during their business hours.  Some landlords cannot and will not provide the time. 

The screening process is also time consuming, so is the move-in process.  After the tenant fills out the rental application and the necessary back ground checks have been conducted, a leasing agent must draft a lease agreement (the rental contract), set-up an appointment for both parties to meet, and thoroughly explain the lease agreement to the tenant and set some ground rules, such as; when the rent is due and where to send the rent, the consequence if rent is not paid, who to call in cases of maintenance and/or emergencies, or any changes to the agreement, etc.  The contract is signed by all parties, explained, and executed, a lengthy and time-consuming task.  Afterwards, a move-in walk through is scheduled and conducted. 

As you can determine, if an owner provides their own tenant, the management company saves a whole lot of time, money, and energy.  We pass these savings on to you, the owner. 

The following are a list of vendors that provide advertising service for rental properties.  Also included are:  websites that are useful, credit-reporting agencies for screening purposes, downloadable rental applications, tenant qualification guidelines and suggestions, and much more useful information. 

Thereafter, the recurring property management fee of 8% or 9% will be deducted from your rental proceeds after your tenant has been established into your property and commences paying rent. 

1.)        Las Vegas Review Journal Newspaper                http://www.reviewjournal.com
2.)        Clark County Rentals                                               http://www.clarkcountyrentals.com
3.)            BullsEye Newspaper (Nellis Air Force)              http://www.nellisbullseye.com
4.)        Rent Clicks                                                               http://www.rentclicks.com
5.)            National Properties, LLC                       http://www.nationalpropertieslv.com/NEW
6.)            Landlords.com                                                 http://www.Landlords.com
7.)        City of Las Vegas                                                        http://www.LasVegasNevada.gov
8.)        City of Henderson                                       http://www.cityofhenderson.com/index.php
9.)        City of North Las Vegas                                       http://www.ci.north-las-vegas.nv.us/
10.)      Clark County, Nevada                                        http://www.accessclarkcounty.com/
11.)      Craig’s List                                              http://sfbay.craigslist.org/about/cities.html
12.)      Las Vegas REALTOR                                           http://www.lasvegasrealtor.com/
13.)      Nevada Association of REALTORS                            http://www.nvar.org/
14.)      Las Vegas Sun Newspaper                                          http://lasvegassun.com/
15.)      Constable       http://www.accessclarkcounty.com/constable/constable_index.htm
16.)      Nevada Power                                                         http://www.nevadapower.com/
17.)      Homes Illustrated Magazine                                       http://www.homesillus.com/
18.)            Experian                                                                      http://www.experian.com/