FAQ

General Questions

• What type of properties do you manage?

  Luxury homes and mansions, Single-family homes, condos, townhomes, multi-unit apartments, office buildings, and commercial strip centers.

• Is there only one property manager or are there separate departments?

  There are separate departments to take on different responsibilities. We have departments for leasing, maintenance, accounting, and management. All departments work together to diligently and professionally manage each property.

• What is your property management fee?

  It’s 8% regularly and 7% when you bring in three properties or more.

• Do you work directly with the HOA?

  We coordinate with the HOA for compliance between tenants and Triumph.

• What part of Las Vegas do you manage?

  Within Clark County, Summerlin, including Henderson and North Las Vegas.

Owner Questions

• How soon can you start managing my property?

  As soon as the agreement is signed. We do hassle-free electronic signings.

• How long are your leases?

  We sign 12-month leases. After the first 12 months, we reassess the property conditions, market value, and tenant’s payment history before renewing.

• How much are tenants charged for the security deposit?

  One full month’s rent before every lease.

• What is your process for handling service requests? How long does it take to make repairs? Do you have existing relationships with local vendors?

  We first troubleshoot maintenance issues with tenants over the phone to determine whether a vendor visit is necessary. If on-site service is required, we dispatch the appropriate vendor to diagnose and resolve the issue based on their expertise. For owners who request approval before repairs, we always obtain their authorization before proceeding with any work.

• Do you schedule routine inspections to ensure everything is functioning? If so, is there a service fee associated with the inspection?

  Inspections are selected individually by each owner during sign-up. Our inspections can be scheduled quarterly, semi-annually, or annually based on personal preference. Any occupancy inspections selected at the owner’s discretion are $100 per inspection. Vacant property inspections are free, and tenant move-in and move-out inspections are also free.

• What type of reports do I get and how often?

  You will receive a monthly management statement that includes income and expenses, we provide annual expense reports and IRS required forms.

• What coverage is required on my part?

  Per our agreement, all owners must have adequate property, liability, and fire insurance.

• Under what terms can we cancel our contract?

  If we’re unable to lease the property within 90 days and it has been marketed at fair market value, the owner may cancel the contract without any cancellation fee.

Tenant Questions

• How much is the application fee?

  $100 per applicant, each adult who will be on the lease/living in the property must apply.

• How long does it take to process an application?

  A complete application should take no more than 3 days to process. Applications that are missing documents (bank statement, ID, earning statements) will not be processed until it’s complete.

• What is a Security Deposit? Transmittal?

  A security deposit is a charge made at the time of paying for the first month’s rent which is used to cover any cost for repairs; The transmittal is a document that is required to be sent out within 30 days of the move our date that goes over the security deposit refund, any cost of repairs that is being deducted from the amount, and the remaining amount that goes to the tenant, it also has invoices attached to back up any charges due.

• Do you inspect the property when I move in and out?

  We perform a detailed move-in and move-out inspection where we record the entire premises. Any damages not mentioned during the move-in inspection will be withheld from your security deposit upon moving out.

• How soon can I move into the property?

  Once the property is ready/clean, your application is approved, the lease is signed, and the first full month of rent plus any applicable prorated rent is paid.

• What is included under ‘normal wear and tear’?

  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, and carpet being worn out, not damaged.

• When is rent due?

  On the first of each month. A 5% late fee will be assessed if a payment hasn’t been received before the day of the 5th of the month before 5 pm.

• Can I opt-out of the Tenant Portal Fee?

  No. Triumph Property Management is providing the Tenant Portal Fee to all residents when we sign a new lease.  The volume we obtain by proving it to all residents enables us to keep costs low for the services and benefits provided.

• Does the Tenant Portal Fee include rental insurance?

  At this time, we do not include rental insurance with the Tenant Portal Fee.  We have not been able to locate a company to provide this at a cost-effective price for our residents, where it would be free. However, you can purchase renter’s insurance directly through your online tenant portal with Appfolio and their FolioGuard™ insurance.