048 Realty works diligently to rent the property as quickly as possible. Bear in mind that the most important objective is to obtain a high-quality tenant and secure a lease for the market value of the property.
048 Realty prides itself on effective internet marketing. Each rental property is listed on the Multiple Listing Service (MLS) and on a variety of real estate websites, including Military websites. This allows Real Estate professionals and potential resident's access to your property's listing, photos and information.
Thorough screening is crucial for successful property management. 048 Realty requires all applicants to fill out a detailed application and submit it for processing and approval.
For each tenant, we examine the following:
- Credit report
- Nationwide report of previous evictions
- Rental history
All applicants must submit verifiable information on their income to show that they can support the rent payment. Rental history or previous home ownership is carefully checked. The credit report, rental history, and proof of income together provide the criteria to qualify or disqualify prospective applicants. If a pet is allowed on the property, the screening includes the pet.
Money flow during the lease cycle
From the first month's rent there are a few fees that will be deducted. These fees typically include the following:
Leasing Fee: The payment to your property manager for inspection, repair coordination, marketing and lease negotiation services rendered in order to obtain a tenant.
Referral Commission (Showing Fee): The payment to the licensee (procuring agent) who shows the home to the selected tenant, completes the application and performs lease negotiation with the property manager.
Owners Reserve: This is your money that we place in a separate account and used for maintenance purposes, to pay for repairs as needed.
For the remainder of the lease, 048 Realty receives a monthly management fee and the owner receives the balance of the rent, less any expenses 048 Realty has paid on the owner's behalf, usually for repairs.
Rent Collection, Proceed Distribution & Tax Reporting
Owner Payments: We here at 048 Realty have two options for our Owners to be paid their rental income monthly.
All Owners are paid by the 10th of the month.
Check Payment - Checks are mailed out directly to our owner to their address, you can expect this payment by the 15th of the month.
ACH - Bank Deposit, this deposit is made directly into your bank account, the bank does charge a $5.00 processing fee for this service.
048 Realty recognizes the importance of accurately collecting and disbursing funds. The bookkeeping program used by 048 is specialized software designed to handle the many facets of property management and accurate record keeping, and complies with the requirements of the Nevada Real Estate Commission.
048 Realty also works closely with a number of vendors if something in your house needs to be repaired. 048 Realty will notify you as soon as your tenant submits a work order, that they will be having a vendor go out to the property to check the issue and provide to us an estimate for any needed repairs.
048 Realty does recommend to all of our Owners that they have a home warranty placed on their property in the case of any needed major emergency repairs, water heater replacement, pipe leaks, electrical issues, any type of pool/ spa issues, etc.
Home Warranties even offer coverage on your appliances that are located in the property. Please contact us if you have any questions in regards to purchasing a home warranty.
If you feel there is any other information 048 Realty can provide, let us know so we can include it in the future.
We appreciate your business and referrals.