All Forum Posts by: Michael Robbins

I know we have already gone over this before but it appears we are really starting to see activity with Raiders player and administrative personal arriving.  It seems Southern Highlands is popular for the $1M+ range.  I suspect Inspirada will be popular for corporate and admin staff.  The questions is will the admin and corporate staff purchase or decide to rent?  I personally, as a property manager in Henderson NV, have not come across anyone associated with the Raiders.  But I think that will change in the near future.  

Great article in the Review Journal today https://www.reviewjournal.com/homes/real-estate-millions/raiders-effect-impacts-luxury-home-sales-2030218/

Yes, I believe that is too much for duct cleaning.  Unless, there was some sort of mold remediation that previously had to be done or something major.  I do not have experience with electronic air cleaners however. 

HUD actually provided updated guidance on service animals in January. They have a pretty cool "best practices" format to follow. Click on the link and start on page 6.

https://www.hud.gov/sites/dfiles/PA/documents/HUDAsstAnimalNC1-28-2020.pdf

I like laundry rooms (washer and dryer) to be downstairs if possible.  If the washer ever overflows or leaks then you will probably be in better position than if it was upstairs.  The rest of your improvements sound great.  I would only go forward if you thing you can get a higher rental rate to justify the rate of return.  

I think these homes are cool.  It will be interesting to see if there is a large demand and if people use them to build on second homes.  For example, somebody has purchased some land with lake view but have not built yet.  

Too soon to tell how the market will go.  But it is certainly a good time to save up cash and be in a good position to buy if opportunity presents itself. Short-term rental properties will probably see limited or negative rent growth.  But if that happens it could be a good time to buy and then rent out. I think the right rental property will do well over the next few years.

If you decide to renew the tenant then make sure to add an addendum to the lease that covers the issue you are referencing. Also, I would let the tenant know before signing the renewal that you intend to add the new addendum. 

I believe most important step in finding good tenants is the "qualification acknowledgment" form.  This is attached to the first page of the application and the applicant (all over 18yrs must apply) must sign it.  The qualification acknowledgment lets your applicants know what your requirements are.  For example, 700+ credit score, no bankruptcies in last 7 years, verifiable income such as recent pay stubs, business bank statements are not accepted... It all starts from there. 

I would double check that rent increases are allowed at this time.  In Las Vegas, rent increases are not allowed during the covid emergency declaration.

I would require the owner to complete an application and qualify just like any other tenant.  I would also be clear that you only do 12 month lease terms.  The best way to explain it to the owner is that due to fair housing laws, all tenants or potential tenants must be treated equally and therefore go through the same process.  It all comes down to following the process in order to be fair to everyone.  And the process, in the end protects you.  I do not think you are being unreasonable at all.