The tenant, obviously, is the key income producing element in a Las Vegas residential property. However, although housing the “right” tenants are the keys to success, housing the “wrong” tenant is a recipe for disaster.
The tenants that pay their rent on time, show respect for the property, and consideration of their neighbors are the type of tenant every Las Vegas landlord wants.
The tenant that is continuously late with rental payments, disrespectful of the landlord’s property, and inconsiderate of neighbors, is the tenant to be avoided at all cost.
Landlords and property managers know –many through bitter experience – that a vacant property is less of a problem than a difficult tenant.
Bad tenants, besides delaying rental payments may be the cause of vandalism, trashing the property, and even causing numerous HOA Violations.
Bad tenants are to be avoided at all cost. But, how can a property be protected against these elements?
The key to avoiding these problems is through experienced property managers that have learned to recognize problem renters during the interview and most important, having a tenant screening process in place that will weed out the undesirables.
Additionally, having a well-prepared leasing agreement and eviction processes in place, will enable the property manager to quickly and effectively deal with or get rid of tenants who may have passed the screening process but later became undesirable for one reason or another.
Another issue the landlord and property manager must deal with, is a basically otherwise “good” tenant who is, from time to time, late with rental payments.
To protect the property owner from experiencing a cash flow problem due to late rental payments, a late fee penalty should be included in the leasing agreement. A late fee penalty is used as a deterrent so that the tenant pays their rent on time.
A thorough tenant screening process goes a long way toward assurance that the tenant is a suitable one, and his/her tenancy will be problem free. The tenant screening process is designed to reveal such important details about the tenant as past rental payment history, overall creditworthiness, history of criminal offenses, if any, employment verification and income.
North American Realty of Nevada takes pride in the fact that we have never had a problem tenant that had to be evicted.
This is due to the fact that our screening processes are second to none and supervised by our Designated Property Manager, Tony Sena, whose background in law enforcement gives him a unique perspective when interviewing tenant applicants.