Finding right renter involves several steps

Q: I just moved into a new home and have yet to sell my previous home here in Las Vegas. I am considering renting it. How do you find a good renter? What are the general qualifications you should look for in seeking a renter? Is there someone who can help me with this?

- Cheryl P., Las Vegas

A: With the increasing number of home choices here in Southern Nevada, we are seeing more people looking to rent a home; and a corresponding demand from homeowners looking to rent their properties to qualified renters. You obviously want to find a prospective renter who will take good care of your property and can afford to rent your home. We don't encourage homeowners to do this by themselves, or even to meet the prospective renter.

Instead, we suggest working with a professional licensed and permitted property manager who has specific expertise in providing such services. The screening process for finding a good tenant includes screening their rental, credit and criminal history and reviewing other public records, including any record of the person owning a home.

Knowing how to interpret these reports requires some expertise. A tenant's employment history and debt ratios are important, in addition to how they derive their income and how long they have been employed in a company or industry.

Dealing with tenants after they move in is also a key part of being a successful landlord. Again, a professional property manager can help with enforcing all the terms of the lease as well as mitigating any maintenance problems and making sure everything goes smoothly.

Also, as a homeowner, it's a good idea for you to verify that the person or company you're considering hiring to be your property manager does in fact have the proper permit issued by the state Real Estate Division.

Once you've started renting your property, expect your property manager to handle primary duties like collecting the monthly rent and dealing with any eviction that may someday be needed. A property manager can be very helpful by enforcing and collecting late fees and even handling evictions and lockouts, if necessary.

Of course, all of these responsibilities need to be covered in a written agreement with your property manager. Make sure that your property management agreement clearly states who handles things like household repairs, yard and pool maintenance. These items are negotiable and can be handled several ways. Some homeowners prefer to handle these responsibilities on their own. Others make this the responsibility of their tenant, while many homeowners have their property manager handle these things.

In general, we suggest having a home warranty on the property to cover common and often expensive repairs, such as when an air- conditioning unit or a water heater needs to be repaired or replaced. As always, I suggest that you interview at least two or three property managers or firms to make sure you find the right property manager for you.

Devin Reiss is the president of GLVAR, which has more than 17,000 members, and has worked in the real estate market for more than a decade. To ask Reiss a question, e-mail him at ask@glvar.org. All questions are subject to editing.