Property Management Fees and Services:
Nicklin Property Management will be responsible for the total management of your investment property, which includes, but is not limited to, the following components:
Once these components have been submitted to and approved by the investor, Nicklin Property Management will immediately and diligently implement the strategies and programs to insure harmonious operation of the investment property.
We feel confident that we can assume an active leadership role in developing and maintaining the physical integrity of the premises and further, that we possess the knowledge, skill and support staff to significantly contribute to the overall success of your investment property.
Click here to access our Management Information Form.
Management Fees:
Residential Properties
A $200.00 one time set up fee for management is required on each property upon acquisition. In the event the property in question is occupied, and has a current rental agreement or lease with a rental period of six months or more outstanding, the set up fee will be $200.00 per property. Set up fees are a one time fee used to establish accounts, marketing and other items pertinent to new accounts. A $250.00 fee is required for condos and town houses, due to administration costs with associations. Additionally, the management fee is 20% of the first full month's rent and 10% of all gross rent receipts received thereafter.
Income Properties
Nicklin Property Management currently specializes in only single-family homes, condominiums and town homes.
1. Disbursement of funds
Nicklin Property Management will make any and all of the following payments:
- Homeowner's Association assessments or dues.
- Utilities, when applicable.
- Gardening and pool maintenance, when applicable.
- Insurance.
- Taxes.
- Repair bills.
- Capital improvements (carpets, window coverings, appliances).
- Miscellaneous accounts payable that the investor requires the property manager to accomplish.
2. Accounts receivable
- Collection of rent monies.
- Collection of late charges.
- Collection of returned check fees.
- Security deposits.
- Collection of owner funds to cover negative cash flow or capital improvements.
3. Monthly operating statements
- Billing for any negative cash flow.
- Disbursement of rents to owner applicable.
- Copies of all billing and mortgage payment receipts are included with each month's operating statements.
- Statements sent by the fifteenth of each month.
Marketing Approach
1. Preview property.
2. Newspaper advertising in Las Vegas Review Journal.
3. Nellis Air Force Base housing referral.
4. Rental sign(s) on the vacant property.
5. Member of the Greater Las Vegas Association of Realtors, Multiple Listing computer service (MLS) linked into participating Las Vegas area real estate firms.
6. Flyers distributed on unique and hard to rent properties.
7. Referral program established for over 15 years with reminder flyer distributed to approximately 4,000 real estate agents monthly at several smaller real estate companies, as well as agents at the following larger companies:
- Prudential Americana Group Realtors
- Century-21 Independents
- Realty Executives
- Re/Max ERA
- Liberty Realty
- Cathy Bittinger Team
- Coldwell Banker Independents
8. Contact with independent leasing agencies in Las Vegas promote inventory.
9. Membership in several Las Vegas area professional organizations including:
- Greater Las Vegas Association of Realtors
- Institute of Real Estate Management
- Community Associations Institute of Southern Nevada
- United States Chamber of Commerce
10. Web site www.nicklinpropertymanagement.com, and link to lasvegasrealtor.com. The Nicklin web site is a very active site with colored photographs and details about each property. The site is updated and checked on a daily basis and is a primary source of attracting prospective tenants, locally, and from out-of-state.
Rental Procedures:
In order to establish a harmonious tenant/landlord relationship, we have implemented a comprehensive program for our prospective tenants which includes:
Credit history profile performed by an outside, independent professional agency, Research Reports, which include:
- Current employment
- Current and past residence verification
- Fraud search
- Derogatory remarks search
- Credit history
Nicklin Property Management is a Fair Housing participant and does not discriminate based upon race, creed, color, religion, national origin, handicap or familial status.
Once the above requirements have been satisfactorily met, an appointment is set to negotiate the rental Agreement. At this appointment the applicant:
- Is presented with the Lease Agreement, Tenant Move-In/Out Property Condition Survey Form.
- Signs the Lease Agreement and disclosure that Nicklin Property Management is the Owner's agent and thus, paid by the Owner.
- Provides a photocopy of a driver's license or approved picture identification.
- Satisfies the monetary requirements with either cash or certified funds.
- Meets our Field Coordinator at the Premises to conduct an initial move-in report.
- Keys to the Premises are released.
Money & Security Procedures:
1. All rents are due on the first of each month. Rent is pro-rated from the first day of occupancy.
2. Rents are considered late on the second day of the month. Eviction proceedings commence on the third day if no contact with the tenant has been made.
- Tenant is required to pay all costs incurred in order to be reinstated and stop eviction proceedings.
- Nicklin Property Management will follow through with all needed actions and keep the property owner updated regarding eviction status.
- Tenant security deposits are to be maintained in the property management trust account.
3. Upon successfully satisfying all Lease Agreement requirements, the security deposit may be refunded. Owner/Manager will refund said deposits if the following conditions have been met:
- Proper notice of vacating the premises has been given by certified mail.
- Occupancy has taken place over the time required (generally twelve months) by both the manager and the Lease Agreement.
- Property is left vacant in the same or better condition as when initially occupied (normal wear and tear excepted). A written report of the condition of the property at initial occupancy is compared with the written report completed by the Property Manager at the end of the lease period to determine damage status.
In addition to the attached presentation, Nicklin Property Management will oversee the general happenings as pertinent to the investment property. We will strive to work with the cooperation of both the investor and the tenant to minimize operating expenses, while preserving property values, comfort and convenience. We are also available for periodic consultation regarding current market trends in the Las Vegas real estate investment market.
We are primarily concerned with maintaining the physical integrity of the premises and achieving the mutual goals of the investor, while guaranteeing ongoing service to the tenant.
Forms and Contracts:
1. Computerized Accounting Code List
Income and expenses code and description used for monthly consolidated end of year statements.
2. Central Referral Service Data
Systems/Application to Rent
Application that potential tenants are asked to complete when applying for a rental property.
3. Lease Agreement and Deposit Receipt
Standard lease agreement used for all properties.
4. Disclosure Regarding Real Estate Agency Relationships
On this form, tenants are made aware that Nicklin Property Management is the agent for, and thus paid by, the Owner.
5. Move-In/Out Property Condition Survey Form
This form is completed by our field inspector upon initial move-in. Tenants are asked to sign this form to protect tenant from being held responsible for accumulation of normal wear and tear from past years.
6. Door Knocker
Door knocker which would be left on tenant's door in the event our calls were not being returned, or for any other unforeseen emergency situation.
7. Tenant One-Time Initial Repair Order
Good for repairs found on initial move-in, which are not tenant responsibility, establishing date forward from which tenants are responsible for adhering to the Repair clause in the Lease Agreement.
8. Seasonal Newsletter to Tenants
These reminders are directed at tenants in order that they be reminded about changes in weather which affect lawn maintenance, irrigation, fertilization times, changing furnace filters, testing heating/cooling equipment early to prevent repairs, and general reminder information about news and services.
9. Property Management Agreement
Our standard Property Management Agreement.
FILL OUT AND SUBMIT THE FOLLOWING FORM TO REQUEST YOUR FREE
FULL PROPOSAL PACKAGE, INCLUDING CONTRACT, LEASE AND A COLOR BROCHURE.
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