Professionalism, transparency, and care: Contact Cunningham Group today to discuss managing your rental home. 702-895-7777
Why use Cunningham Group?
Cunningham Group is affiliated with the premier RE/MAX name. We strive to adhere to the highest standards of ethics and professionalism that come along with the RE/MAX brand. Our company manages homes in every area of the Las Vegas valley. Through communicating the truth to our clients and aggressively marketing our rental listings, we're proud to say that we rent the typical property on average within weeks, not months. Our belief is that everyday a rental sits vacant, the owner of the home is losing cash. That's the mentality we work from and that's how we keep our clients' rentals occupied with great tenants.
What is a security deposit?
Some homeowners confuse First & Last Month's rent with a “Security Deposit”. Laws that govern the use of rents vary substantially from those that involve security deposits. Our company requires all our tenants to remit an amount of money equal to one month's rent (at least) in addition to their first month's rent before they can move in. This additional money is called a security deposit. The deposit is held in a brokerage trust account and can't be touched unless the tenant vacates the property. The security deposit is then 100% refundable minus any expenses that are incurred to restore the property to the condition it was in when the tenant moved in. The benefit of taking a reasonable security deposit is that the money acts as leverage for a tenant to leave the property in great condition when they move out. If we were to take First & Last Month's “Rent”, that money would never be returned to the tenant and thus would not provide any real security for the owner as the tenant has no real motivation to leave the property in good condition.
What can be deducted from a security deposit?
We can deduct any costs related to restoring the property to its previous condition from a tenant security. Tenants fill out a pre-occupancy inspection report that absolves them of any issues that were in existence before they move in. This signed report is kept on file until the tenant vacates the home. Examples of things that can be paid from security are:
- General cleaning
- Carpet cleaning
- Repairs of items that were not broken when the tenant moved in
- Unpaid utilities that were supposed to be maintained by the tenant but were not
- Landscaping repairs
- And more
How much do you charge for security deposits?
We charge a security deposit that is equal to 1 month's rent. In some circumstances, we may elect to require a deposit of two to three times one month's rent. This would only happen if we can't verify a strong credit history and residence history for a prospective tenant.
How much rent can I get for my home?
How much rent you can get depends on the size of your home, the community it's in, and any upgrades to the property. To get a free rent comparable analysis, please visit our Contact Form to provide the necessary information. You will want to send us the full address of the property you plan to rent out. The comparable is done free of charge and there is no obligation to utilize our property management services if you don't wish to.
When is first month's rent due?
Rent is due immediately upon lease signing. One month’s rent is required to move-in.
How do you send my rent money?
We offer direct deposit of your rent check directly into your bank account via electronic check. We do not mail checks (unless you are a self-directed IRA client). We can do this to any US-based bank with a 9-digit routing number. Out of state accounts are perfectly fine.
When is the rent money deposited into my account?
Rent checks are deposited on the 15th of the month (or earlier). The only other delays to rent deposits could be caused by late rent payments, which are not common. If such a delay will push your deposit past the 15th, we'd let you know. We ask that all clients keep at least 1 month (preferably 3 months) reserve in your rental property bank account. Do not rely on the deposit to make your mortgage payment. Rent delays, technical glitches and other issues could delay a deposit.
What can I do to help get more rent for my property and rent it faster?
There are several things to remember when you are trying to market your rental property:
The important thing is that the home is “clutter free” and extremely clean. Prospective tenants are most attracted to clean homes when they are walking through them. They need to be able to see your home as a place “they” could call home.
Paint your home in neutral colors. If not white, then any beige or light cream color would work. We recommend strongly that you avoid green, blues, or other more custom colors; especially dark colors.
Fix anything that is broken: If we turn over a clean, operational and maintained home to a tenant, it is much easier to hold them accountable for returning it back that way.
Install landscaping: If your property is dirt and barren in the backyard, we highly recommend that you “at least” pour some rock down to make the yard more appealing. Additionally, having a patio back there adds a great amount of value to your home and will get it rented faster. Homes can still rent without anything in the backyard, but it will hurt the rent you can get and the speed in which you could get it.
Have appliances available: The vast majority of potential tenants do not have their own refrigerator, washer/dryer, stove, or dishwasher. These items are covered under the security deposit if damaged and the tenants will have to maintain them if you leave them in the home.
How do you qualify a tenant?
The criteria that we use to qualify prospective tenants is a “tiered” system. The higher the credit score, the easier it is to qualify. Verifiable rental history, co-applicant qualification, and income verification can all be used to qualify a tenant.
Applicants who have been evicted in the past are automatically disqualified. Evictions typically show up on credit reports
All applicants MUST submit a Greater Las Vegas Board of Realtors rental application. We conduct our own credit check in all circumstances.
If a tenant cannot qualify under our normal qualification procedures, additional security deposits (up to triple the normal amount) may be requested to qualify a tenant.
How long is a typical lease period?
Lease periods are typically one year or longer. Additionally, we prefer not to end leases between November 1 and January 31, except in special circumstances or when absolutely necessary. This is because of the difficulty of filling vacancies during the holiday season.
What about pets?
What if I want to sell my house later on?
Selling your house is always possible, with or without a tenant in it. It's important to remember that the lease agreement you have with your tenant supercedes anything else. This means that unless you wait for a lease to end, you'd have to sell your home to an investor. When you do this, you “sell” the lease right along with the home. There are plenty of investors looking for homes that they will end up renting out anyway. Otherwise, you can sell your home once any given lease period ends by giving the tenant a 30 day notice to vacate. Contact our office if you need assistance with listing and selling your home.
How long is the management agreement I sign with you?
Our agreements last for at least one year. After a year, they automatically renew until cancelled.
How do I get started?
Visit our Management Sign-Up Page to take the first step toward renting your home. Simply fill out the form and a Cunningham Group representative will contact you quickly to setup a free consultation. Or email email@example.com The property manager will then provide you with the management contract for review and signature. You will need the signed contract, 3 keys, mailbox keys (if applicable), two garage remotes, and the setup fee. If preferred, you may also give us a call directly at (702) 823-0840. We look forward to speaking with you!
What is a Property Manager?
Your property manager professional handles all aspects of renting your home. From preparation for leasing, handling repairs, coordinating marketing, qualification of potential residents and then responding to resident issues after they move-in, the property manager is the landlord's representative.
A great property manager will always level with you; giving you the information as it is. As the opportunity for great investments continues to spread throughout Las Vegas, the need for a great, responsive property manager grows!
Marketing & Finding a Tenant
Your manager will market your property online and throughout the Greater Las Vegas realtor network. They will coordinate with prospective tenants to show your property 7 days a week when it's vacant to get it leased quickly!
They ensure great photos are taken of the home, and aggressively market your rental so that you can get the best price possible the fastest!
Conducting lease signings, move-in/move-out inspections, renewals and internal/external checks are all part of the job a good manager should do!
Screen Your Tenant
Your property manager professional makes it easy to take the emotion out of renting your home. They will qualify every tenant based off sound criteria and not emotional attachment. Tenants with a history of not paying bills on time and/or evictions are not considered. Managers also maintain strict policies that make it clear when rent is due and what the consequences are if it is not paid in a timely fashion. They also maintain sufficient security deposits on file for every tenant within the guidelines of state law.
Repairs & Maintenance
Property Managers do more than just collect your rents. They also have the task of dealing with crises when they arise. When the heat goes out in the winter, your manager is on the phone with your tenant, coordinating with vendors, keeping you informed, and keeping an eye toward protecting your property. Your property manager also can offer valuable advice about how best to defray costs.
Emergencies are those things that must be repaired to avoid violating laws that govern landlords. Tenants can not live in a property without things like heat or running water. Additionally, massive leaks can not go unattended because of the threat of costly mold issues. Your property manager will know what issues must be dealt with quickly to avoid more cost down the road.
Accounting & Convenience
Your property manager will maintain a record of any work orders that are completed on your property. Invoices and records of check payments are also kept. We take care of any work orders or invoices that need to be paid. All this information is available online via your owner portal login.
Expect a 1099 at year's end and statements every month around the 15th. Cunningham Group gives owners the convenience of accessing this information online. Cunningham Group also gives owners access to any applicable lease agreements, management agreements and invoices ONLINE!
Don't want to head down to the bank every time you get a rent check? Cunningham Group automatically deposits your rent checks into your bank account each month!
A. Administrative Setup Charge (Includes ALL Marketing) = $395.00
- All Pre-Leasing Consultations
- Pre-Marketing Inspection
- Coordinate with Vendors on Owners' Behalf if necessary
- Setup Trust Account
- Setup Bank Deposits
- Brokerage Rent Collection Setup
- Setup Online Access for Owner
- Order Home Warranty if Requested
- Includes Realtor.com and nearly 30 additional websites at no additional charge!! (A $79 value)
- MLS Placement w/ Photos & Electronic Lockbox on Property
- MLS Data Sheet/Marketing Sheet Filled Out
- Multiple Photos for Marketing
- Placement on LasVegasLandlords.com.com
B. Tenant Finder's Fee = $350.00
- This fee does not apply if you have your own resident in place – it only applies if a new resident must be located.
C. Monthly Management Commission
- 9% of gross rent receipts OR minimum monthly commission = $110.00
- Contact us to find out about our DISCOUNT plan for multi-unit clients!
D. Other Expenses
- $195 lease renewal charge to negotiate lease renewals when lease expires.
- $350 to market and locate a replacement tenant on new vacancy. The marketing charge is waived for new clients seeking their first tenant placement with Cunningham Group.