What about utilities – do they stay in my name?
Nearly all of our properties require the tenant to pay all utilities. In order to receive keys to the property, we require our renters to produce proof that they have switched over electricity, natural gas, and water to their name, effective on the move-in date. Services such as sewer and trash pick-up can become liens against the property, if not paid. Therefore, we recommend those services stay in the owner’s name during tenancy. All you’ll need to do is change the mailing address for sewer and trash billings to “in care of TMPM,” and use our address (PO Box 50673, Sparks NV 89435) for mailing. We’ll pay those bills on your behalf when they come in, and then charge back those amounts to the renter, which will then be due with the next rental payment. We do not charge extra for this service. Please be sure to keep all utilities on in your name, until a new tenant takes possession of the property. You’ll also want to set up a “standing order” with NV Energy and a “landlord cut-in agreement” with Truckee Meadows Water Authority.
What happens if my tenant doesn’t pay the rent?
Although we screen carefully to be sure we’re only placing qualified renters in your property, there is always the possibility that a tenant may lose his/her job, or face unforeseen circumstances, and becomes unable to make the rent payment as promised. Truckee Meadows Property Management enforces a very strict rent collection policy to protect our owners’ interests. All rent payments are due on the first (1st) of every month, and late on the 2nd day. If unpaid after the 3rd day of the month, we make contact with the tenant, and a late charge is assessed. The late charge is cumulative; in other words, the longer the tenant goes without paying the rent, the higher the late charge is. If the rent remains unpaid by the 6th day of the month (or, next business day, if the 6th falls on a weekend or holiday), we may prepare and cause to be served an eviction notice for non-payment of rent. We do not charge you extra for this service, under our “Full Management” program; you pay only the costs of filing and serving the notice. Under Nevada law, the tenant then has 5 business days to pay the rent or vacate the property. In our experience, most tenants will pay before the expiration of the notice. If the tenant does not pay or vacate within the 5 days prescribed, the next step is a court order for lockout. This is a process we can handle for you (additional fees apply), or you can handle yourself. Again, it is extremely rare for a lockout to become necessary.
Over the last 3 years, we have not had a single eviction! That speaks to how well we screen our prospective tenants.