Why use Silver State Realty & Investments as your property Management Company
Renting your home out to a complete stranger can be very scary; screening tenants adequately, the possibility of unpaid rent, damages and possible evictions if the right person is not chosen. At SSRI we screen our tenants in-house and very thoroughly. We have a developed a point, grade and match system for screening tenants. The tenants can accumulate good and bad points based on credit, rental references, home ownership and job history. Based on their final point score they are then graded A to F. Each of our homes is also given a grade based on condition and location. Within our company no tenant will qualify for a property with a higher grade score that what they have. Although screening and securing a good tenant is critical it is only the first step in the process. Next the move in, documentation of condition, lease signing, monthly rent collections, routine inspections, monthly financial statements and eventually the move out and turnover of the property to find another tenant all the while following Nevada law. We are trained and educated in every aspect of property management law. Our team of professionals will handle every step for you all the while keeping you informed.
What is the initial cost to me
SSRI has the lowest cost in the business to get your property rented. We have no set up fees. We charge $0 a week for advertising and $300 as a referral/leasing fee to agents once the property rents. So if you price your home correctly and it rents in the first week your total cost would be $300.
How do you get my property rented
Over 85% of all property searches begin online- We instantly market your property with the following companies via ListHub:
To get your property rented we must photograph and gather all data pertaining to your property. We list your property in the Realtors MLX program and ListHub. This data base is available to all real estate agents city wide. For MLX we must place a lock box to allow access to all other agents to show the property at any time they have a perspective tenant wanting to see it. We place your property on our website. We have the best search engine optimization companies working for us every day to keep our site on top of all five major search engines. But we still continue to post our rentals on other “for rent” sites. We at all times have “hot sheets” available for the general public listing with photographs all of our available rentals. We have a leasing agent in our office during all business hours to take leasing calls. We have a leasing agent available to show properties when prospective tenants call. We answer our phones so perspective tenants can get through to us. We receive over Hundreds of leasing calls monthly. Our vacancy rate is an average of 4-6% while the city wide average is usually well over 10%.
How much will my property rent for
Pricing a property correctly is the most critical decision an owner can make to start off on the right foot. Rental price determines everything, how fast a property will rent, what type of tenant you will get etc. We will conduct a comparative market analysis for you from the MLXchange data base. This report will show what properties are available for rent in your sub-division and neighborhood and what all homes in those areas have rented for in the last 18 months. Based on the price per square foot of the averages we see, we will multiply that by your square footage to come up with “fair market value”. It is always advisable to list your property a small amount below the competition or below fair market value. Tenants that have good credit and income are looking for a deal, they know they will qualify and want the most bang for their buck, so well-priced properties attract good tenants. Over pricing your property by even $50 in our aggressive market could end up costing an owner months of vacancy and is rarely ever worth it in the end.
How do I know if a prospective tenant is qualified
As explained previously we have a point, grade and match system. Once a tenant is screened they will presented to you for your final approval. All information on the tenant will be relayed to you. No property manager in our company is able to accept an un-qualified tenant, or a tenant that’s score is not as high as it should be for the house they are interested in. Only an owner can approve a tenant. When a tenant scores lower than required it can still work but additional security deposits can be requested etc.
When will I receive my funds each month
Unlike many other property management companies SSRI strives to get your money to you as quick as possible. We will direct wire your rental proceeds to your bank account which completely safe, secure and most of all timely. Rental proceeds for properties that tenants have paid rent on time go out of our office by the 10th of each month. With our state of the art software you will have online access to your accounting records 24 hours a day 7 days a week. You will be set up with an “owner portal” that you can access with a name and password that allows you to view your current and past monthly financial statements. All financial statements are published by the 15th of each month.
What happens if my tenant does not pay rent
Our rents are due on the first day of the month there is no grace period. If rent is not received by the 5th of the month the eviction process is started. It begins with a “5 day-notice to pay or quit” this notice actually takes 8 working days not including weekends and holidays. If the tenant still hasn’t paid by the end of the period, the 5-day notice is followed by a “24 hour lock out”. This is where the tenant is physically removed from the property by the sheriff’s office, the locks are changed and the property is secured. Complete evictions are very rare. Tenants will usually pay at some point during the process. Once a tenant is late we do not accept personal checks, tenants must pay in certified funds. The owner is contacted during this period and kept informed.
How would I know if the tenant is tearing up my rental home
Many property management companies claim they inspect properties but when pushed on the issue you will find out at best they are doing a “drive by” once a year. With SSRI we go into the property every 12 months during the occupancy of the tenant and take photographs and do a complete written report for our owners and as many times necessary or as requested by the owner. There is a nominal cost involved for this but the money it can save in the long run is well worth it. This provides great peace of mind for our clients to know how the tenants are living, decorating and caring for the property.
What if there is maintenance repairs needed at my rental
At SSRI we have an “in-house” maintenance coordinator. That means we control time, schedules and prices. This has been one of the best things we have ever done in our business. There is no more waiting for an outside handyman to get around to our tenants or worse waiting for the invoices to come in and not always knowing what to expect. Our maintenance staff is scheduled by us on a priority level so emergencies can be handled quickly. We ask that owners provide us with cell numbers and email address as all of our managers are provided with smart phones to be able to contact owners whenever necessary.