Blankfeld Group Property Management 3-25 Page 1 Landlord Handbook This document is intended to provide our landlords with an abbreviated view of the various aspects of having a home managed at The Blankfeld Group. Changes can arise out of statutory changes or simple policy changes within our company. We will attempt to notify you of any such changes. If at any time you are not certain about any of the information provided, please don’t hesitate to ask your property manager. None of these explanations or abbreviations are intended to alter the terms of the property management agreement.
Blankfeld Group Property Management 3-25 Page 2 The contracts and Nevada Law always takes precedence. Policies WE HOLD OUR LANDLORDS TO A HIGH STANDARD SO WE CAN HOLD OUR TENANTS TO A HIGH STANDARD! 1. Distributions a. We pay owner distributions on or before the 15th of every month. i. Rents sometimes don’t arrive on time and ACH transfers take time to confirm ii. This is not a promise to pay, but we have a strong track record of getting our distributions out by the 15th. iii. We strongly encourage you to take advantage of the electronic transfer to your account (ACH). There is no additional charge to you. iv. Keep your mortgage and any other bills you have to pay a month ahead, so you aren’t waiting for the distribution to pay this month’s bills but next month’s bills instead. 2. Your Account a. You will be given a login and password to your online account. b. Any reports you need will be available to you online 24/7. c. We will send you a monthly statement with your distribution. d. All invoices will be uploaded to your account. e. We hold $500 as a reserve balance in your account to handle emergencies. 3. Keys & Remotes a. We will need to provide your tenants with 2 copies of every key and two remotes for every garage and/or gate. b. If need be, we will order new ones from your HOA and bill you. c. We keep an additional copy of the main key in our office for emergencies.
Blankfeld Group Property Management 3-25 Page 3 4. Landscaping and Pool Service a. We strongly advise that landlords pay for both landscaping service and pool service and collect rents enough to cover these expenses. b. The vendors must be approved by us. c. You don’t want tenants responsible for either as condition strongly affects value. d. If the landscaping is minimal, we sometimes leave it to the tenants. 5. Utilities and other bills a. Our Utilities policies are as follows: i. NLV & Henderson: trash and sewer are paid by tenant along with water in tenant’s name. ii. Las Vegas/Clark County: landlords pay sewer and trash. iii. All consumption-based utilities are the responsibility of the tenant. b. Please sign up for landlords account with the utility providers. This will enable them to automatically move the account to your name should a tenant close their account. You will be responsible for maintaining utilities whenever the home is not leased. c. We will pay any other monthly bills related to the home. i. The bills must be sent to us in a timely manner. ii. We will not pay any bills that we don’t have a copy of. iii. Bills we typically pay for owners: 1. HOA Dues/SIDS LIDS 2. Property Taxes (if not paid by mortgage servicer) 3. Insurance (if not paid by mortgage servicer) iv. Invoices not presented within 90 days will not be addressed. 6. Pets a. More than 75% of people in Clark County have some kind of pet. You should consider accepting them subject to your approval. We have the tenants submit a pet approval form when applicable. b. We also collect additional deposits for Pets. (typically, $500/pet)
Blankfeld Group Property Management 3-25 Page 4 7. Rent Ready! a. Your home needs to be “Rent Ready” and that means: i. No personal property to remain anywhere in or around the home. ii. All appliances are fully functioning iii. All home systems are working efficiently. (HVAC, Plumbing, Elec, Etc.) iv. Home is professionally cleaned. 1. Carpets and floors. 2. Windows. 3. Home has had thorough “Spring Cleaning” 4. Landscaping is neat and clear of debris. b. Landlord is responsible for issues reported in the first 30 days of tenancy. 8. Homeowners Insurance a. You will need to provide us with proof of coverage and list us as “Additionally Insured” on your policy so we will be notified in case of any lapses. b. Confirm with your insurance agent the coverage is a “Landlords” policy. i. This type of policy has less coverage for personal belongings and more coverage for liability. c. In addition to homeowner’s insurance, we will work with your Home Warranty to limit your liability in case of major repairs. 9. Annual Inspections a. We do inspections upon move in, move out and renewal of annual leases. b. At the mid term of every first year, we have a professional Home Inspector conduct a safety inspection at our expense. c. You will receive a copy through our portal. d. Any items that require attention will be addressed shortly after the inspection. e. Those items addressed will be charged to the tenant or landlord according to the lease.
Blankfeld Group Property Management 3-25 Page 5 10. Repairs and Issues a. We do not charge you anything for handling repair issues. The actual invoice for the repairs will be uploaded to your account for your records. b. Any repairs or issues that cost less than $500 will be approved by us. Over $500 we will seek your approval unless it’s an emergency. c. Our lease contains what we call a “Non-Frivolity” Clause. It means that the tenant is responsible for the first $XX of any repairs. (see your lease for amt) d. When a more elaborate issue is presented, we will keep you in the communication loop throughout the process. (Mold, water damage, fire, etc.) e. Invoices that need to be reimbursed must be presented within 90 days or they will not be addressed. f. All the vendors we use will be bonded, licensed, and insured. We can’t skimp here! You don’t want us to have someone doing the work that we can’t hold accountable. g. We don’t allow homeowners to do their own work for the same reason. 11. Associations a. We encourage you to have all correspondence from your HOA sent to us directly. If they are sent to you and there is a delay getting the notice to us, it makes it difficult for us to hold the tenant accountable. b. If the association sends notice of any violations to the tenant, they must inform the management company. c. The tenant is responsible for any fines or fees assessed while they occupy the home. d. The owner is responsible for HOA fees. 12. Pest Control a. We recommend monthly service. The landlord is responsible while the home is un-occupied will deliver the home pest free. b. The tenant will then be responsible during their tenancy. c. The landlord will do an initial servicing and then the tenant takes it from there.
Blankfeld Group Property Management 3-25 Page 6 13. Check Out/Security Deposit a. When we check out a tenant, we will prepare two lists. One is the recommended repairs/cleaning that we feel are the tenant’s responsibility and the other is the list we feel is the landlord’s responsibility to bring the home back to “Rent Ready”. b. The tenant’s portion will be deducted from their deposit. The landlord’s portion will be the landlord’s responsibility. c. Nevada requires us to provide the tenant with a detailed accounting within 30 days of termination of tenancy. d. The security deposit is kept in a separate Trust Account managed by us. It belongs to the tenant and only applicable charges may be deducted. e. If the tenant vacates the property and doesn’t leave enough funds to cover repairs and/or back rents, we will provide support and documentation to whomever the landlord designates as a collector of the bad debt. 14. Nevada Landlord Tenant Statutes a. https://www.leg.state.nv.us/Division/Legal/LawLibrary/NRS/NRS-118A.html We want all our landlords to be happy. If you ever feel you are not getting the attention you need, please don’t hesitate to contact us. We hope your experience with us will lead you to recommend us to your friends and family. All of US 702-315-7591 manage@blankfeldgroup.com Jazmin Penaloza 702-580-5446 jazminp@blankfeldgroup.com Vanessa Barillet 702-954-2317 vanessa@blankfeldgroup.com Harvey Blankfeld 702-203-1165 harvey@blankfeldgroup.com Karlee Ames 702-315-7591 karlee@blankfeldgroup.com
Blankfeld Group Property Management 3-25 Page 7 Landlord Questionnaire We use this form to prepare your PM agreement. You can see a video explaining the agreement at: https://youtu.be/KT7eM-WKGD0 Date: _______________________________ Property Address: ________________________________________________ Owners Names: ______________________ __________________________ Owners Email Addresses: ______________________ __________________________ Owners Primary Phone: _______________________________ Owners Primary Email: _______________________________ Were you referred to us? By Whom: _______________________________ Address you want us to send documents to: _______________________________ _______________________________ Date you want to start management: _______________________________ Existing Tenant Info: _______________________________ Phone: _________________ _______________________________ Email: __________________ Minimum Acceptable Rent: _______________________________ Pets OK: Y/N _____ Section 8: Y/N _____ Mailbox # of Rental: ________ Parking Space or Garage # of Rental: __________ Gate Code of Rental: __________ Alarm Code of Rental: _____________
Blankfeld Group Property Management 3-25 Page 8 Landlord Requirements Landlord Property Criteria Must be unfurnished Must be free from all personal items Must have clean and fresh interior Must have landscape in front and rear yards Must have window coverings Must have all major appliances Must have garage door openers with sensors Property must be vacated before listing for rent Pool, spa, trash collection, sewer fees and landscaping services will be provided by owner. Landlord Administrative Criteria Need 4 door keys, 2 mailbox keys, 2 pool/Clubhouse Keys,2 garage door remotes, 2 gate remotes All Alarm codes, gate codes Home Warranty info, Homeowners Insurance Certificate (landlord dwelling policy, naming Brown Blankfeld as additionally insured) C,C & R’s, HOA Rules & Regulations Direct Deposit Information W-9 Completed Pricing $800.00 or 30% of First Month’s rent -Management Leasing Fee. This is the price of acquiring the tenant including the fee to the other agent. $500.00-Reserve Account Balance. This will be always maintained for the payment of expenses/repairs/bills on behalf of the owner. If money is spent out of this account, monies will be taken out of the rent the next month to replenish with an accounting of the money. Some properties may require a larger reserve balance. Management Fee- 10% charge on the monthly rent starting with the first month rent. A minimum monthly fee of $120.00. Owners with 3 or more properties go to 8% minimum $80.00/month. Pricing subject to change with written notice. I have read and understand the terms of the booklet: ______________________________________ __________ Name Date ______________________________________ __________ Name Date