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9 Questions To Ask When Evaluating Leasing Agents

Leasing Agents Lux Real Estate Advisor

There has been some confusion in the investment property segment regarding the services offered by leasing agents vs. full-service property management firms. 

To assist in differentiating between the two, we have compiled a list of nine questions you should ask a leasing agent when evaluating which firm you want to represent your investments:

  • Does your website promote rental listings and is your marketing budget allocated specifically to the rental segment?
  • What are the necessary steps and timelines for lease approvals in my building?
  • Are tenants required to obtain a renter insurance policy and which insurance company would you recommend?
  • What if any additional language do you add to lease agreements that limit my risk and deters litigation?
  • In the event of a claim, which law firms have you worked with in resolving legal disputes between landlords and tenants? 
  • Do you have a point person that specifically handles work orders? If so, could you walk me through the process? 
  • Could you provide an example of a time you worked with not only your client’s insurance company but also the insurance companies for the adjacent residences to remedy multi-unit damage event?
  • What sections in NRS 118a are most important? Are there any specific rules and regulations relating to retaining tenant deposits? 
  • How do you protect me against fair housing discrimination claims and what are the fines? ($19,787 1st offense)
  • In the event there is damage to my residence as well as residences adjacent to my unit, which contractors do you recommend? If there is a water event which remediation company(s) can respond immediately to limit the damage?

Having a specific plan in place regarding water events is critical. It is important for every owner to be aware that insurance companies can deny claims because owners did not follow a very specific process when a leak originated in their residence.

For example, we are aware of a situation in which a leak occurred and damaged as many as 10 floors below. The owner did not follow the insurance company protocol and the insurance company denied the claim. Ultimately, this water event resulted in the HOA filing a lien on the residence for $70,000.

Contact us today for information on our property management solutions that maximize your ROI and mitigates your risk: [email protected] or 702-482-8885.
 

Testimonials

“Thanks to Luxury Real Estate Advisors for assistance with leasing and managing our Mandarin residence. I’d highly recommend LRA to anyone who’s looking to buy, manage, or sell a residence in the greater Las Vegas area.” – Aldo Manzini, Former Chief Administrative Officer and Executive Vice President of MGM Resorts International.

“Thank you Anthony for all the hard work you put in on the sale of my condominium in the midst of such a difficult market. Your efforts are greatly appreciated.” -Joe Lacob Owner, NBA Golden State Warriors and Partner Kleiner Perkins, Caufield & Byers

“You and your team made our entire condo purchasing experience exceptional. If the opportunity arises in Las Vegas for a great Realtor again,there is no doubt who I am calling. Thanks Anthony.” – Tony Rector, Board President, Turnberry Towers East

“I’d like to thank you one more time for all the great work you did to make our Las Vegas condo become a reality. Job well done. And yes, everything is just what we wanted. Thanks again for all your help in making it happen” – Jonathan Miri, Nevada Business Development Officer, Bank of America, […]

“Thank you, Anthony. Your knowledge, professionalism, and integrity: a rare quality in the real estate business today. We both enjoyed working with you and would recommend you 100% to anyone seeking Realtor services.” – Tony Bonnici, Vice President and General Manager, Lotus Broadcasting Corporation

“Anthony is one of our top producers and it’s truly a pleasure to work with.” – Nicole Nejezch, Broker & Director of Sales at CityCenter Residential (Mandarin, Veer, and Vdara)

“Thank you Luxury Real Estate Advisors for your efforts on selling my Las Vegas condo.” – Christopher Nordling, Executive Vice President, MGM Resorts International

“Thank you for your assistance in managing and selling our Mandarin portfolio; your team simplified a very complex, multi-party, multi-residence transaction. We look forward to working with LRA soon.” – Michael Pepper, former Chairman, Board of Directors at The Residences at Mandarin Oriental Las Vegas.

“Your in-depth knowledge of the high-rise and luxury subdivisions simplified our relocation effort. We look forward to working with the LRA team again.” – Kenton Thompson, President, Charles Schwab Signature Bank.

“I would like to thank you for your team’s assistance during the recent purchase at The Martin. You would be my first and only recommendation to anyone looking for similar assistance in the city.” – Lisa Corwin Esq. Partner, Wylder Corwin Kelly LLP.

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