Rental Requirements

Renters

If you are new to the Las Vegas Valley area or even have been here a while I’m sure you will find the following information helpful before you run all over town looking for a home to rent that you may not qualify for…  Ouch!

1.  You must be ready and willing to move in the next 2 or 3 weeks, have you given notice to your landlord???

If you’re not willing to move in this time period, wait until you are.  No new Landlord is going to wait a month for you to move in when he/she could accept a ready and willing tenant.  You should have given your current Landlord notice before you begin to look and be prepared to sign at least a 1-year lease.

2.  You must not have had any Evictions that show, on public records, credit reports, etc.  

Here in Las Vegas, they will not rent to you if you’ve had an Eviction, you might be able to find a private party that will take a larger rent deposit, but the deposit better be large, like 6 months rent upfront, etc. and then some.  With an eviction, your only hope is to rent week to week from something like a “Siegel Suites” here in town.  I guess your second option would be to satisfy the eviction and have it show “Paid” on your credit report which can take several weeks to be updated.   

3.  Property management companies will verify credit history, rental history with your former landlord, etc.  A 620+ credit score is usually the minimum.  If your credit score is below 620 you are probably wasting your time and application fees.  If you have poorer credit you might be better off looking for a rental on Craig’s List or the Review Journal our local Las Vegas News paper.  If you have poor credit I found this site that may be of help to you https://homes.trovit.com/for-rent-bad-credit-ok-nv  

4.  Proof of income required, “all” management companies are looking for 3 times the amount of the rent for your income.  So, if the rent is going to be $1000 per month, your (“gross” not “Net,” net is what you actually bring home after taxes) income should be $3000 per month.  Copies of your current paycheck stubs covering 1 month is required for those employed.  If self employed you can use 12 months bank statements or even Tax returns.  I would imagine that the self-employed renter will choose the bank statements usually over the Tax returns.  Just about all management companies require a copy of your ID as well.

5.  Criminal background checks may be done as well.  (New DOJ letter states that your former criminal background alone cannot be a reason to deny an applicant from renting, but continue reading.)

If you have poor credit and have a criminal history it will be almost impossible for you to find a place to rent, I’m just being honest with you… 

6.  The cost to apply:  $50-$75 per adult applicant plus $100-$450 holding deposit…

Most property management companies will charge $50-$75 dollars per adult applicant to process the application non-refundable, and a few will charge a holding deposit that will go to the overall deposit if your application is accepted or will be returned if unaccepted.

7.  Deposits:  Are usually 1 months rent paid up front before you move in, so if the rent is $1000 per month, it will cost you $2000 if you move in on the 1st of the month.  Other required fees that you need to be aware of are a Key fee/deposit, Pet fee/deposit, (Some landlords require you to pay a monthly fee for your pet, no kidding!) Cleaning fee, and last but not least, a Move In fee on top of your deposit sometimes referred to as an Administration fee.  Ask for all the fees up front, so you are not caught off guard by accident.      

8.  Other considerations:  More than 2 adult applicants that are not family.  If you have 3 adults attempting to apply for a home that has no family connection, you may have a problem if each applicant can’t qualify for the rent on their own.  There are many reasons for this but let’s just say that the rental process will be very difficult the more non-family adults that are applying to rent.  Better to have one or two adults apply and the 3rd or 4th adult persons listed as occupants…  

9.  Pets:  Yes, and it’s usually up to the Landlord and you will have to pay an additional deposit.  And yes, we know that your Pit Bull plays with your cat and he’s/she’s so friendly, etc.  Remember most of these aggressive looking dogs are on the “do not rent list”, which means it will be harder to find a Landlord willing to rent to you and your supposedly, friendly mutt.  Most of the time property managers will advise their clients against renting to you if you have one of these aggressive dogs, but again, it’s up to the Landlord.  FYI here is a sample list of Breed Restrictions:  Pit Bulls, Rottweilers, Akitas, Dobermans or Chows, or any mixes of said.    

10.  Insurance:  Many Landlords will want you to purchase renters insurance, this is a No Brainer with the benefits huge for the renter and the cost is very inexpensive.  It may not be required, but I’d look to get a policy or at least speak to an insurance agent so they can go over all the benefits with you.

11.  Section 8 – If you have a credit score of 620+ and a Voucher call or text me for our Section 8 list of available properties, yes you still have to have good credit!    

12.  Let’s Get Started!  Start by sending me an email describing what you are looking for and I’ll be glad to send you out a list of properties (with Photos via email) that may be just what you are looking for.  I’ll send you updates in real time as new properties become available, wow! Don’t waste your time driving the neighborhood looking for rental signs, most agents are no longer using signs out of safety concerns and fear of vandalism.  Contact me for a list of properties, I’m willing to show you personally any of the properties on the list that will fit your requirements, I’ll help you get your proper application and deposit submitted to the appropriate firm, I’ll answer any and all questions you may have, and I’ll negotiate terms with the Landlords agent.  I’m licensed and can help you with any listing in the Las Vegas Valley or surrounding areas.  You may email me at prejeanh@gmail.com or Call/Text 702-767-3061 I look forward to working with you…

Yours truly

Henry Prejean  

prejeanh@gmail.com

702-767-3061  Cell/Text

PS  Coming from another state?  Most property management companies prefer that you at least walk through the property before applying for a lease, so please, take the time to at least come out for the weekend, enjoy Las Vegas, take a look at a few properties and then apply.  Please!  

Berkshire Hathaway
Realtor II
 
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