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Tenant FAQ’s

Following are answers to some of the questions we are most often asked by folks applying to lease our properties. Please feel free to call or email us if you have different questions.

What are the “up-front” costs to get into a house?

Answer:
The GLVPM rental application requires applicants to submit a $75.00 cash NON REFUNDABLE application fee for each applicant applying for the lease. Applicants may apply for “Approval Only” if no specific property has yet been selected. (Application) Our policy if “first to apply, first in line.” In other words, once we accept your completed Real Estate Investment Sales or rental application for a property and your application fee, we do not permit another applicant to move ahead of you in line, provided of course that you are making a good faith effort to provide all of the information and material needed for processing. Most applications are processed within a few hours. After we approve your application, we can hold the property for you up to 30 days while you figure out your moving schedule, provided that you submit the full amount of the refundable security deposit within 48 hours of being notified of approval. The payment of the Security Deposit balance must be in the form of a Cashiers Check or Money Order. At or before the end of the 30 days you must take occupancy and begin paying rent. At that time, we will collect the initial rent (prorated to the 1st of the month), the cleaning fee, and, if applicable, your refundable pet deposit. Thereafter, your monthly rent will be due on the 1st of each month. (see Sample Lease Agreement).

What are the criteria used to qualify for a lease?

Answer:
The combined, verifiable gross household income must be 2.5 times the monthly rental amount. Example: Monthly Rent is $1000.00. The combined and verifiable gross income of all applicants must equal or exceed $2500.00. It is not necessary to document income above the 2.5x requirement. Good credit and a satisfactory rental or mortgage payment history is required. Applicants may not have open balances with any previous Landlord for past due rent or claims of property damage. Bankruptcies must be discharged and explained. An eviction history, or a collection history for any housing payments or public utility account may be grounds for disqualification, depending on the circumstances.

How much is the Security Deposit and is it Refundable?

Answer:
Security deposits can vary by property, but the typical GLVPM Security Deposit is equal to slightly less than one month’s rent amount. In addition to the refundable deposit, we will collect a non-refundable cleaning fee ($250 on most units… see the next FAQ). Because we are a licensed Real Estate Brokerage and Las Vegas Property Management company, your security deposit is held in an escrow account at our firm — in your name — for the duration of the lease. Under Nevada Law, Security Deposits are FULLY REFUNDABLE at the termination of the lease as long as the Tenant causes no damage to the unit, and is not negligent in reporting needed maintenance where the neglect leads to damage. Within 30 days of the termination of the lease, you are entitled to receive your Security Deposits, or Security Deposit Adjusted Balances together with receipts or other documentation of of repairs. Under Nevada law, tenants are responsible for “damage” to the premises, while the landlord is responsible for costs associated with “normal wear.”

Why do you charge a Non-Refundable Cleaning Fee?

Answer:
We are a professional Las Vegas Property Management company and experience has taught us the the single most-disputed issue between landlords and tenants is whether the property is as clean when surrendered as when it was first occupied. GLVPM has completely eliminated this issue by taking away from our tenants any responsibility for cleaning the home. We will have a professional house-cleaning crew do the cleaning, just as we did before you took possession. All you have to do at the termination of your lease is just take everything that is yours (your trash too, please!). Then you can deal with the house you are moving to, and not worry about cleaning the one you are leaving. Ask your spouse or partner if this is a good thing…?

What is the typical lease period?

Answer:
With rare exceptions, GLVPM-managed properties are priced based upon a minimum lease term of one year. Most leases can be extended for an additional year or more if the tenant desires. Shorter terms (minimum 6 months) are considered by some our our property owners. Submit your offer together with your completed application and application fee. We will not process your application and spend your fee until the property owner has accepted your terms. GLVPM does NOT lease month to month, furnished, vacation or Concierge properties. GLVPM can accommodate Corporate Leases and Commercial Business Guarantees.

Are Pets Allowed?

Answer:
In some cases, a unit may not be functionally suitable for pets, or the property owner may choose not to permit pets. However, many of GLVPM’s rental properties DO consider pets under certain circumstances (see prohibited pet list). GLVPM allows a maximum of two pets (Cats and Dogs only) per property and the tenant must place an additional Pet Deposit of $200.00 per pet. Pet Deposits are Fully Refundable at the termination of the lease, if no damage to the interior or exterior are noted on the Move Out Inspection. Tenants can expect to be charged for urine odor remediation and feces clean up. PHOTOS OF PETS ARE REQUIRED WITH THE APPLICATION. (see Pet Application Form).