Kamyar Zargari is the licensed property manager & Broker. I am his licensed real estate assistant.
Placing your investment in the hands of a property management company is, for some, quite a daunting and uncertain move. The advantages are, though, very clear.
Here, we review some of our most frequently asked questions, answers that should put your mind at ease while, at the same time, informing your understanding of how effective management, when properly implemented, can transform the value of your investment.
Triumph has ~800 properties managed.
Triumph manages every type of property – both residential and commercial. Our services are personalised for each client and for the specific needs of their properties. Contact us today to learn more about how we can assist your properties.
Triumph is a team of 15 associates, each of whom work together to manage your property as efficiently as possible. Each department works with each other to deal with any issues at hand.
For example, our repairs department has two personnel and our accounting department has one member of staff each for receivables and payables.
So, while you will have one email address and one “go to” person, each department will contact you separately depending on what owner/tenants needs to be addressed.
We perform inspections prior to the tenants taking possession of the property and once upon move-out to ensure the property is returned in the same condition as they took possession. Though on multi-plex apartments, our team recommend bi-monthly visits, or, at the very minimum, one visit per month.
Our goal is to perform the necessary duties that you expect. These duties include trash elimination, communicating with tenants – listening to and addressing any complaints – and reporting anything out of the ordinary to you, the owner.
Our inspections are performed by a third party and hence there is a fee for the duties mentioned in the previous sentence.
Our inspections are performed by a third party. However, if you have a specific person or vendor in mind, we are more than happy to use their services. Similarly, you can use your own handymen, if required on any maintenance work order.
There are no costs for lease switching – no cost annually and no hidden fees. We will work efficiently with your current property manager to make the transition smoothly without the involvement of you as the landlord.
There is no charge for any transfers. There is also no charge for posting notices of these transfers and no charge to collect keys, leases and funds from your property manager.
We will charge you from the start of the following month. You are not charged for mid-month starts.
Our standard professional photography package costs $200 so, while your units may be basic, the photos can represent these units in the most appealing light.
Our office is compartmentalized in different departments – leasing department, repairs, homeowner association, accounting etc. For best results, please e-mail your query to email@example.com and the correct department will reply in the order received.
You may cancel for no cause with a 30-day notice. It may, however, be necessary to pay any associated cancellation costs – for example, the management fee for the anticipated months specified on the contract.
Our pricing structure is transparent with no hidden fees. $500 for advertisement, commission and photo/video footage. Annual $30 postage and copy fee. 8% per month management fee, thereafter.
Rent is collected in a few different ways, providing options for our tenants to pay both conveniently and on-time :
- Tenants Can Mail payments to: 9030 W Sahara Ave Ste 668 – Las Vegas, NV 89117
- Bring payments to our office located at 911 N Buffalo Dr Ste 202 – Las Vegas, NV 89128
- Pay via E-Checking account or debit/credit card
- Tenants may retrieve a Payslip and pay at any 7-Eleven store or ACE Cash Express location. Present the slip to the cashier to make rent payment. Once the transaction is processed, the tenant is provided with a receipt as proof of payment.
- Pay rent with a credit card without fees, via RadPad and Android Pay
We conduct two inspections prior to tenants taking possession and perform one inspection upon the tenant(s) vacating. If red flags are present, we conduct an inspection. Red flags include HOA notices, police activity etc.
Each month, we add to your portal an income versus expense sheet – generally on the 15th of every month.
We also send regular emails with our newly listed properties for your consideration.
We remit at no added charge your expenses such as water, sewer, trash, HOA, property tax and insurance.
Some items need to be reimbursed by tenants per lease verbiage.
We post those amounts onto the tenant’s ledger to request payment, along with their rent.
We do not but I can ask Kami. We have already discounted our services though, by waiving our $200 set up fee.
We have many owners that are military, however, I do not personally know if they used a VA loan. We also have many military tenants.
We have several companies that we have added & removed throughout Triumph’s 11 years in business. However, when you sign up you can always provide us your preferred vendors. Any repairs coordinated through us, will just need to be paid by you directly if the vendor is not already set up in our system as an approved vendor/W9/business license/insurance.
No our management fee does not change due to repairs. Any invoices we receive from the vendors is paid out of your rental proceeds. If you sign up for ACH (free), you will get an emailed statement showing your income & expense charges from your owner statement (tracking) with the back up of any paid bills/repairs/utilities etc.
We can. This is individually selected by each owner on their questionnaire when they sign up. Some like quarterly, semi annual & some prefer annual. We provide free inspections prior to tenant move in & after tenant move out. Any occupancy inspections selected at the owners discretion are $100 per inspection.
If this is noticed during the inspection, we can advise you. However, it would be hard to prove it is a guest or a person actually residing. If proven, there is a breach fee of $500 that can be charged to the tenants in addition to possibly terminating the lease.
Yes, we can help assist with HOA coordination of compliance between tenant & management company. It is not mandatory for us to do so. However, we do always assist with this to the best of our ability when we receive thee HOA violation “love letters” as we call them.
If you receive these letters, please email them to firstname.lastname@example.org so we can address with the tenants and/or repairs department if the violation is non-tenant negligence related to assist with bringing the violation to compliance between all parties.
Our marketing team advertises your property on the very best rental websites – well over 100 websites. We maximize the exposure of your property in a manner where it never gets buried within listings.
Effective marketing is essential for rental properties. We also market through standard means – such as newspapers, flyers etc. – a comprehensive marketing approach that delivers an instant impact.
Triumph covers the length and breadth of Las Vegas, offering our services wherever they’re needed. If you are concerned that your property might be outside our geographic scope, contact a member of our customer service team today.
Yes and No. Nevada State law requires that you have a representative in the county or within 60 miles of the rental property. Below is an exerpt of the statute:
NRS 118A.260 Disclosure of names and addresses of managers and owners; emergency telephone number; service of process.
The landlord, or any person….(a) The name..(b) A telephone number at which a responsible person who resides in the county or within 60 miles of where the premises are located may be called in case of emergency.
That also means that an owner can not use a 1-800 number or an answering service for “taking calls”. An owner doesn’t necessarily have to use a property manager. There are two other options. First, the owner can manage the rental themselves if they meet the above criteria of living in the county or within 60 miles of the rental or they can engage someone as an employee to handle the rental. Of course that gets messy with taxes, deductions, workers compensation, insurance etc.
Here is the full revised statute:
NRS 118A.260 Disclosure of names and addresses of managers and owners; emergency telephone number; service of process.
The landlord, or any person authorized to enter into a rental agreement on his or her behalf, shall disclose to the tenant in writing at or before the commencement of the tenancy:
(a) The name and address of:
- The persons authorized to manage the premises;
- A person within this State authorized to act for and on behalf of the landlord for the purpose of service of process and receiving notices and demands; and
- The principal or corporate owner.
(b) A telephone number at which a responsible person who resides in the county or within 60 miles of where the premises are located may be called in case of emergency.
The information required to be furnished by this section must be kept current, and this section is enforceable against any successor landlord or manager of the premises.
A party who enters into a rental agreement on behalf of the landlord and fails to comply with this section is an agent of the landlord for purposes of:
- Service of process and receiving notices and demands; and
- Performing the obligations of the landlord under law and under the rental agreement.
In any action against a landlord which involves his or her rental property, service of process upon the manager of the property or a person described in paragraph (a) of subsection 1 shall be deemed to be service upon the landlord. The obligations of the landlord devolve upon the persons authorized to enter into a rental agreement on his or her behalf.
This section does not limit or remove the liability of an undisclosed landlord. (Added to NRS by 1977, 1335; A 1981, 1185; 2001, 1353; 2003, 817; 2007, 1283)
There are two simple ways you can receive a free quote. You can call us direct at (702) 367-2323, or, alternatively, you can fill out our online form. We will get back to you very shortly with your free quote.
We recommend to landlords to review the basic Nevada revises statutes, but it is not a must. We always remind landlords of their duties and/or obligations in the event of an exceptional or special case – for example: when it comes to repairs or evictions.
Our current vacancy rate is at its lowest, at 5 percent. Generally, our properties take 20 days to occupy with a qualified tenant.
No – property’s do not need to be rent-ready before we assume management. We are happy to bid the project with vendors to make sure that a reasonable price is given to our owner for approval.
Once work is complete, we inspect to ensure that work was done to the requisite standard and the property is in rent-ready condition.
No, not at all.
Yes I am a licensed Realtor, and our Broker is a licensed Broker, Realtor & Property Manager.
We operate an after hours emergency hotline. That way tenants have access in case of EMERGENCIES like: fire, flooding, crimes activity or Natural Disasters.
That’s the way we prefer. If you choose that option your funds will actually reach your bank account faster than the traditional mail method.
You have access to all official documents related to the lease relationship except the tenants’ credit report and application due to the sensitive information provided and privacy issues.
We do. If you decide to sell or buy your property. We would be honored to represent you. We have been very successful at making it a smooth, easy, win-win with for our valued owners. We feel having a great rapport with the tenant(s) is key, as well as having over 10 years of experience with Real Estate Sales & Property Management. However, if you were referred to us by your real estate broker, we will contact him/her on your behalf to alert them and help you in any future transactions. It’s ethical and fair. Our motto is “Sell with Success & Buy with Confidence!”
Tenant has the ability to pay rent online, by mail, in the office, & at any 7/11 stores..
We disburse to our clients within 10-15 days from rent receipts. Remember we need to make sure the funds have cleared the bank.
Typically we sign 12 months leases and re-assess the property conditions, market value and tenants’ payment history before offering a renewal. Also, we insert new laws that might benefit you in the new lease. Things change from time to time and you need to be protected.
One full month’s rent is collected before every lease. Additional Security Deposit is also collected on instances that the tenant is offered the option to mitigate any risk associated to their application background.
We can start the management of your property as soon as the agreement is signed. We use a simple electronic signature format so that it is hassle free, in which can be signed from your smart-phone.
Single family residential properties like homes, condominiums and townhomes.
You will receive a monthly Management statement that includes income and expenses. Also we provide annual expense reports and IRS required forms.
We do. Remember the Security Deposit is the tenants money until is time to part ways. Since we manage the property and we are versed with the law requirements, you are better off letting us handle the Security Deposit.
Our repairs department sends the relevant vendor to diagnose and resolve the necessary maintenance work – depending on their level of expertise and the work that the repair requires.
If the cost exceeds the agreement threshold of $300, we will contact you for approval and/or guidance.
Though we have existing relationships with vendors, if you have a preference, we are happy to utilize their services too.
For tax queries, please refer the case to your accountant.
Many property management companies only upload listings on Craigslist or the MLS.
At Triumph, we market every listing on over thirty websites, including paid and unpaid site – for example: Zillow, Realtor.com, Trulia etc.
Other companies provide an eviction warranty which is bogus. That’s because an eviction warranty is not necessary if we, as property managers, qualify a tenant. Even if/when an eviction is necessary, funds are deducted from their deposit and never from the landlord.
Our agreement stipulates that Triumph has the first right-of-refusal to list your property. We hold a Broker license to list homes and purchase for buyers.
Typically, we have investors that are already interested in your home to purchase.
It is not necessary to have a corporation. We recommend that you consult your accountant for the most optimum tax strategies.
That depends on the metrics (location etc.) of your property. What we can say is that we conduct extensive market analysis of each property, helping clients earn the very highest rental value at no extra cost.
As per the agreement, you need to have adequate property, liability, & fire insurance. See indemnity section in contract for additional info. Pages 6 & 7 of 13.
Our agreement is for 1 year initially & then automatically renews with the lease. If you terminate while in contract, there will be the anticipated management fees due for the remainder of the term. If you transfer the tenant there is an additional $300 transfer fee.
If you cancel during a vacancy after the 1st year there is no termination fees. If you cancel at the end of the tenants lease, but keep the tenants, since our agreement ends the same time as the lease there will be no termination fees but the $300 transfer fee will still apply. See termination section in agreement. Pages 5 & 6 of 13.
Screening is very strict. When the client/applicant applies, we screen always to not only look out for the owners best interest, but what is an overall fit for all parties. The client/applicant must make 3x the market rent. Providing proof of Bank statements and or pay-stubs are required in order to ensure that the applicant has a steady income and can make sure their financial responsibilities are priority.
We also perform an extensive background check including criminal record and any past rental history/debt to make sure all is in good standing. Due to COVID19 we are researching a bit further to make sure all criteria is in pristine condition meaning, landlord previous rental history is clean, no criminal background, employment verification is also done and meets all rental qualifications as a qualified tenant across the board to make sure the client/applicant is approved on behalf for the property/owner.
I will provide a CMA yes as well as a personal opinion of value, in which is based in comparing your property’s personal characteristics, data, upgrades, & whether you will allow pets (as that does have an effect on days on market) with similar recently rented properties that are within near proximity to you property.
However the final rent price is always owner’s discretion. We can always try a certain amount, test the feedback & reduce as needed. We just cannot guarantee that it will rent within a certain amount of time.
We do not charge our management fee during the vacancy as a courtesy. However, our initial contract is for a year & then once the lease is signed, the end date automatically extends to the end of the lease.
In which if you terminate, anticipated management fees will be due to the end of the term. See termination section in agreement. Pages 5 & 6 of 13.
$200 – SET UP FEE (Advertising/Marketing/Photographer) – Due Up Front ~ ! WAVIED WITH SIGN UP SPECIAL ! ~
$300 – Referral fee paid to the agent who procures the qualified, approved applicant – Taken out of 1st month’s rent
$300 – Reserve funds set aside – Taken out of 1st month’s rent (your own money set aside used in absolute case of emergency; REFUNDABLE UPON CANCELLATION)
$30- Annual Postage/Printing & Copying fee – Taken out of 1st month’s rent
8% with a minimum of $85
On average, if priced right, cleaned & open to pets (not mandatory) I would say lately they have been renting within 20-30 days or less.
Yes, everybody of the age of 18 has to apply & be vetted in order to be considered, regardless if they are financially responsible (stay at home significant other).
Repairs department handles all as stated above. As per the agreement any repairs that are needed for functionality, proper value or use, safety ect will be addressed. Anything under $300 will automatically be approved per the agreement.
Anything over $300 the vendor will need to send an estimate to us so we can send to you for review & approval, unless it is an emergency that we have to mitigate damages on. See repairs section in contract for additional info. Pages 3 & 4 of 13.
All of the above, in addition, we can assist with HOA compliance coordination as a courtesy no charge.
One year minimum/maximum initially. Then it does automatically go to a month to month term after the 1st year if tenants do not accept the offered lease renewal. There is a 10% hold over charge, charged to the tenants for this convenience, in which you receive. At that time you can always send a 30 day no cause notice to vacate to the tenants.
All of the above, besides cash. No cash. In addition, we have teamed up with 7-11 so that all of our tenants have the ability to pay at any 7-11 and it will automatically post to their account with a designated barcode slip that can be printed from their account (tenants can keep in wallet or purse). Which in Vegas, if you know.. there is practically a 7-11 on every couple streets.
Yes, we do this is no additional charge. You will select this when you sign up on the owner questionnaire. We pay owners between the 18-22nd of every month in which within the 30 day threshold by law.
ACH owners are paid 1st & then accounting moves on to check request owners. Our accounting girls are very type A people with their calendar & scheduled tasks. If they get ahead of the game, the payments may be earlier.
We charge a 5% late fee max (mandated by law) to the tenants on the 6th of every month. This fee goes to Triumph. If the tenants do not proceed, we move forward with the delinquency policy/eviction (once allowed by law).
You will keep the electric & water on. Once the tenant signs their lease they are to put on the water, electric & gas on if applicable in their name within 7 days of move in. The tenants are provided a utility contact sheet to do so. Once tenant has signed the lease, taken possession, you will receive a congratulatory email with all the general details.
You may then schedule shut off of said utilities (push out 7 days). Then when you receive your final bill if there was any usage of utilities after the tenants moved in/prior to them getting the utilities on in their name, you can send us the bill and we can charge the tenants the proration’s.
The sewer & trash stay in the owner names if not included in the HOA and/or water service. Then we market & charge the tenants $25 monthly for sewer & $25 monthly for trash reimbursement to the owner.
Yes, if you sign up for ACH (free) you will have access to the owner portal. As the items are billed, when you log in you can see these items.
An itemized list of the inspection in which was performed notating any documentation of repairs that are needed at the property (if any) that will reflect tenants security deposit as a whole.
This is created by comparing the move in condition form and the techs estimate.
With our best efforts, we will try to retrieve what is owed. If not, we will send the tenants account to collections and it will be reflected on their credit history.
For estimates over $1000, we would need at least 50% up front so our tech can begin the work and then the remaining balance will be due upon completion.
The best payment method would be signing onto your owners portal, or you can pay by credit card or mail in a check to 9030 W Sahara Ave. #668 Las Vegas, NV 89117.
Normal wear and tear includes anything that can be damaged by normal usage such as minor marks on the walls, faded paint, toilet flappers, sun damaged blinds, carpet being worn out (not damaged).
You are welcome to use your own tech. We would need to know when the repairs are completed for marketing purposes. We also would need the invoice before the 20th of the month so it can allow time for Leasing to complete the SDT.
After the SDT has been sent to the tenants, it can take up to 30 days to receive the security deposit back.
Yes, but with limitations:
- Maximum of two (2) pets per property
- Maximum 40 lbs fully grown
- Vaccination records required
- Non-vicious breeds only (as described by insurance carriers – including but not limited to: Pit Bulls, German Shepherds, Chows, Rottweilers, Akitas, Dobermans and/or any mixed breed, where the predominant breed is mentioned above)
- No exotic pets allowed (including but not limited to: frogs, spiders, snakes, ferrets and lizards).
- No fish tanks larger than 50 gallons allowed
We perform a detailed move in and move out inspection and take pictures and video of the entire premises. Any damages not mentioned during the move-in inspection will be withheld from your security deposit upon moving out.
It is very important that you review the move-in inspection prior to signing it.
A fully completed application should take no more than 3 business days to be processed.
The application fee is $75 per applicant. All individuals 18 yrs. or older that will be living in the property must complete an application.
A security deposit equal to at least one month’s rent. Payment must be made in the form of cashiers check or money order.
The following situations are considered emergencies. You should contact our offices at (407) 578-545 and/or your property manager via cell phone/email as soon as possible.
- NO ELECTRICITY: Please check both the circuit breaker and outlet reset buttons first.
- FIRE: Call 911 and notify the fire department immediately.
- NO HEAT: When the outside temperature is below 45 degrees ONLY.
- NO AIR CONDITIONING: If a health risk exists (as documented by a physician) ONLY.
- HEAVY STRUCTURAL DAMAGE: Roof, foundation, walls, etc.
- PLUMBING: Flooding or stoppage of all drains (tenant is responsible for all stoppages except when they are the result of root growth or fixture breakdown). Water should be turned off at the main line control valve (valve is usually on the side of the home by the garage). Please familiarize yourself with the location of the valve prior to an emergency.
- THEFT: Call 911 and submit a full police report to our office.
Once the application is approved, the lease is signed, the property is ready/clean, and a full month’s rent plus any applicable prorated rent has been paid.
Rent is due on the first of each month. A 10% late fee will be assessed if we have not received your rent by the 3rd day of the month in addition to a $5 per day charge until the rent is paid.
Tenants must earn, at minimum, three times the rent. Tenants must also have a clean background, employment verification and a positive rental history.