FAQs - Frequently Asked Questions
A foreclosure does not necessarily mean this applicant will be a bad tenant. When we receive information that an applicant has a foreclosure or short sale, we then look into what caused this situation, look at their other credit and reserve the right to collect up to 3x the standard security deposit if warranted.
This does happen occasionally as many renters’ previous landlords went into foreclosure and will not return calls. Sometimes tenants have receipts from their payments or bank statements that will also verify the information. We often go back to their previous landlord as well depending on the amount of time that has passed.
Many times we ask the applicant for their most recent tax return and/or bank statement(s) to verify they have consistent funds available to cover their obligations.
As a standard rule of thumb we like to see that the applicant's income is 3x the monthly rent then take into consideration any other payments they have from their credit report as well as an estimation of utilities.
Recent eviction is the #1 factor in rejecting an applicant as well as credit. Certain breeds of pets can also be used to reject and applicant.
Yes! The applicant could have perfect rental history, great employment or income but no credit. In this instance the application could be approved.
Credit is probably one of the most important tools as you can see their past payment history on other obligations. Next would be rental history however it is extremely important to look at all of the information when considering an application.
Depending on the time of year, it generally takes 30-60 days. During a holiday period it can potentially take longer. Area also plays a big role in the time line as some areas have more rentals than others.
This has been the average for a number of years and seems to be holding firm. Making sure your property is priced right and is in good move in condition is always a BIG plus in making the property move as quickly as possible.
Rentals are put into the Multiple Listing Service just the same as homes for sale. They are also shown on REALTOR.com and many other websites. We do all internet based marketing. We strive to keep owners cost down by using no charge websites. If an owner wants printed ads we will do that as well however there would be charges incurred. Click Here to see many of the website you property will be featured.
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7035 W Ann Rd., #120, Las Vegas, NV 89130 • 2020 W. Craig Rd., #306, North Las Vegas, NV 89032 • Phone: 702-656-8600

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