Frequently Asked Questions – Owner


Got questions? We’ve got answers!

  1. Why Real Property Management Exclusive?
  2. What are your fees?
  3. Is Real Property Management Exclusive insured?
  4. What does the initial property set-up and marketing fee cover?
  5. How is advertising handled?
  6. What if I want additional advertising for my property?
  7. How do you determine the rent for my property?
  8. What is typically involved in preparing the property to be rented?
  9. How long will it take to rent my property?
  10. Can I rent my property furnished?
  11. Who handles property maintenance and emergency calls?
  12. Who pays for utilities and HOA dues?
  13. Do you screen applicants, and what is required?
  14. Do I need additional insurance?
  15. Do I need to purchase a Home Owner Warranty?
  16. When are inspections of the property done?
  17. What about smoking at my property?
  18. What is your policy regarding pets?
  19. Is it possible to refuse to rent to families with children?
  20. How and when will I receive my rental proceeds?
  21. Who holds the tenant’s security deposit?
  22. What happens if rent is late?
  23. What kind of accounting information do you provide?
  24. How do you handle evictions?
  25. What happens if the tenant vacates before the lease is up?
  26. What is the average length of tenancy?
  27. How long is the term of your management contract?
  28. Do you sell real estate?

1. Why Real Property Management Exclusive?
Real Property Management Exclusive is locally owned and operated with an experienced staff of 25 real estate agents and Nevada Permitted Property Managers. Our brokerage is state-licensed and insured and its associates are active members of NARPM (National Association of Residential Property Managers). Real Property Management Exclusive has built a solid reputation for profitable and ethical business practices for over a decade. We take the hassle out of managing your rental property.
We market your rental, show the property to all the “looky-loos”, select/screen tenants, and evict tenants if necessary according to continually changing state and federal laws. Furthermore, we provide a safe, functioning home for your tenant(s) by responding to emergencies and maintenance needs. We deal with the many facets of Fair Housing and treat everyone equally (one of the main lawsuits inexperienced landlords face). Finally, due to our volume, we have long-lasting relationships with our contractors and receive fair and honest service. We shoulder the burden of the daily hassle of property management and minimize expenses while working to maximize your income!

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2. What are your fees?
*Please see our Fee Schedule for a detailed explanation of fees or fill out our Free Management Quote form.

  • Set-up Fee (Includes Marketing) $300
  • MLS Agent Referral Fee $300-500 (depending on size and scope of property)
  • Property Management Fee 9% of Gross Monthly Rent (certain restrictions apply)

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3. Is Real Property Management Exclusive insured?
Yes. We have a large E&O (Errors and Omissions) policy to cover lawsuits due to negligence. This does not, however, protect you if someone is injured on your property, etc.

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4. What does the initial property set-up and marketing fee cover?

    • Installation of “For Rent” sign at the property with brochure box and designer flyers (Unless prohibited by HOA Rules and Regulations)
    • Placement of ads in the Multiple Listing Service (MLS)
    • Placement of ads on various internet sites (www.rpmlistings.com, www.LasVegasRentsSearch.com, www.rentals.com, www.RentalHouses.com, www.HotPads.com, www.google.com/base, www.oodle.com, www.vast.com, and www.craigslist.com)

  • Installation of both electronic and mechanical lockbox at the property
  • Weekly email updates of Realtors showings via electronic lockbox
  • Interior/Exterior property inspection and evaluation
  • 75 -150 digital photos of property prior to tenant(s) occupancy
  • 20 – 30 minute documentation video of your property for disclosure purposes prior to occupancy
  • Complete tenant screening (Including, but not limited to, credit check, rental history, verification of tenancy, income verification, criminal background check, and sex offender registry check)

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5. How is advertising handled?
First, we install a “For Rent” sign at the property with brochure box and designer flyers (Unless prohibited by HOA Rules and Regulations). Then, we post ad in the Multiple Listing Service (MLS) and on various internet sites (www.RPMListings.com, www.LasVegasRentsSearch.com, www.rentals.com, www.RentalHouses.com, www.HotPads.com, www.google.com/base, www.oodle.com, www.vast.com, and www.craigslist.com). Finally, we feature our new listings to our own pool of clients already seeking tenancy.

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6. What if I want additional advertising for my property?
We have great faith and success with our current marketing program. We advertise with more than 25 of the most popular rental websites for one low price, and more importantly, internet ads are more detailed than newspaper ads. Local and out-of-town applicants have access to searches, which also broadens the pool of qualified applicants. Newspaper ads may be placed at the owner’s expense, but our experience has shown this to be a costly and less effective means of advertisement.

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7. How do you determine the rent for my property?
We provide a comparable market analysis and research equivalent units (similar size, features, and amenities) to make a recommendation based on current market trends over a three month period. Our goal is to price the rental in a manner that will maximize the number of applicants.

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8. What is typically involved in preparing the property to be rented?
The property should be clean, in good condition, and all personal belongings should be removed. The property needs to be move-in ready, which we can help with. This will raise the property rental value as well!

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9. How long will it take to rent my property?
Location, season, type, and price of your rental property will determine how quickly it is leased. We work hard to aggressively advertise your property and protect your investment. Vacancy is market-driven.

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10. Can I rent my property furnished?
Yes, and if you have a corporate or vacation rental, it must be furnished. A normal amount of wear and tear should be expected, and possible damage may occur. Rental value may increase an additional 10-20% for furnished units, however, most tenants will have their own furnishings that they prefer to use. You should be prepared to provide storage for your items in this event.

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11. Who handles property maintenance and emergency calls?
We handle all phone calls, 24 hours a day, with multiple lines. As a general rule, the tenant(s) is responsible for repairs under $50, however, we encourage owners to welcome reports that can be handled with preventative maintenance and avert more costly repairs in the long-run. Real Property Management Exclusive hires licensed contractors to make repairs within the timeline and regulations of Nevada law. Expenses incurred will be deducted from the following month’s income, and receipts will be included. Expenses over $500 will require the owner’s authorization unless habitability of the property is in question.

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12. Who pays for utilities and HOA dues?
Generally on single-family residences, the tenant will pay for power, gas, water, and trash, while the owner pays sewage and HOA dues. Condos and townhomes may vary depending on what is covered by the HOA.

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13. Do you screen applicants, and what is required?
Yes! Our marketing always produces a large pool of applicants. We do extensive credit, criminal background, employment, and rental history checks to ensure that the applicants presented to you are the most qualified.
Due to the trend in the current real estate market, it is increasingly common to come across applicants with poor credit or foreclosures, in which case we increase the security deposit to a maximum of three times rent (highest allowed by Nevada law) when income and employment meet our criterion.

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14. Do I need additional insurance?
Yes. We recommend contacting your insurance company to check coverage of your policy. Umbrella policies are a great way to protect against any lawsuits that go beyond the standard $500K liability coverage.

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15. Do I need to purchase a Home Owner Warranty?
This is not a requirement, however, it is strongly recommended! New homes typically have only one year of warranty coverage, and additional coverage could save money in the long run. We can contact your warranty company directly, which will facilitate quick and discounted repairs.

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16. When are inspections of the property done?
Inspections are done when you hire us and then again prior to occupancy. 50-120 digital photos are taken in addition to a 10-15 minute video. Within 90-120 days of the tenant moving in, we do an interior and exterior inspection and annually thereafter.

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17. What about smoking at my property?
Advertising properties as Non-smoking? has become more prevalent, and this does not seem to affect the market adversely.

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18. What is your policy regarding pets?
Many responsible tenants own a pet. Allowing tenants to keep them with an additional security deposit may increase the pool of qualified applicants. Real Property Management Exclusive’s company policy prohibits any Pit-bull or Rottweiler dog breeds on property at any time (mixed & pure bred). All other animals are approved on a case-by-casebasis with security deposit.

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19. Is it possible to refuse to rent to families with children?
Children fall under the protective class of Familial Status in federal, state, and local Fair Housing regulations; therefore, it is unlawful to discriminate against children in any way.

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20. How and when will I receive my rental proceeds?
Once the property is rented, you have several options on the 15th of each month:

  • Check mailed to address provided
  • Direct deposit into your account
  • Funds can be placed in a trust account from which we pay your recurring expenses (mortgage & HOA payments etc.)
  • In addition, you will receive a monthly statement with income and expenses incurred.

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21. Who holds the tenant’s security deposit?
It is held by Real Property Management Exclusive in a non-interest bearing, trust account.

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22. What happens if rent is late?
Rent is due on the 1st of each month and is late by the 3rd. The tenant is notified immediately in writing and applicable late fees are assessed. We begin eviction proceedings 10-12 days after failure to pay rent.

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23. What kind of accounting information do you provide?
A comprehensive accounting report provided by the leading property management software (www.tenantpro.com). A detailed operating statement will be provided with your monthly rent check, plus a detailed annual report will be provided with your 1099 in mid-January every year.

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24. How do you handle evictions?
In rare circumstances, eviction may become necessary. If so, we complete the process at the cost of the tenant against their security deposit. We have detailed contracts in place and take between 50-120 digital photos as well as a 10-15 minute video. Nevada is a Landlord-friendly state, and this process will begin 12 days after the failure to pay rent. Furthermore, accounts are handed over to collection for failure to pay fees beyond 30 days.

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25. What happens if the tenant vacates before the lease is up?
30-day written notice is required for all tenants and must be submitted before the first day of the final month of tenancy. If this procedure is not followed, we have contracts in place to protect your investment. Fees for the broken lease will be collected from the tenant, and if necessary, we send the tenant to collection. We also make every attempt to find a new tenant for your property as quickly as possible.

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26. What is the average length of tenancy?
The typical lease is drawn for one year of occupancy, at which time, a new lease may be signed if both parties are in agreement. The owner may also choose to vacate the tenant at this time.

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27. How long is the term of your management contract?
Please refer to the Management Contract.

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28. Do you sell real estate?
If you are looking to buy more investment properties or sell your property, we can help!

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