Invest in Henderson Turn-Key Rental Properties in the Las Vegas Area

A property categorized in the rentals section of Auction.com is defined as a property with a lease in place. The lease period will vary in duration. Please check the individual property page to view the lease terms for that property. This is a unique investment opportunity that could provide cash flow from day one after closing escrow.

The lease type and terms will vary from one property to another, but nearly all Auction.com rental properties will have tenants that are currently in a lease. The buyer of the home in the online auction is required to abide by the current lease terms and local tenancy laws for renewal, renegotiation or termination of the rental agreement. Lease terms and rental amounts can be found on the property details page under documents.

All homes in the rentals section of Auction.com are homes that were acquired by the seller and converted into a rental.

As all rental situations are unique, there may be tenants who become under and/or non-performing. Be sure to review lease agreements regarding any rights about renegotiating or terminating any lease.

The terms of the lease are subject to applicable tenancy laws. Leases may contain provisions requiring the landlord to give the tenant a 90-day notice of any increase in the monthly rental payment. This notice may be given after escrow has closed if allowed under the terms of the lease and applicable law.

Buyers may have the option of keeping, renegotiating or terminating the lease, though the buyer of the home is required to abide by the current lease terms and local tenancy laws. Lease terms and rental amounts can be found on the property details page. To terminate the lease, you must abide by the lease requirements and give appropriate notice according to tenancy laws.

Any repairs required to make the home habitable per local laws are the responsibility of the buyer. These properties shouldn’t require repairs as they have been maintained by the seller and the local property management firm for the current tenants.

Yes, nearly all properties in the rentals section of Auction.com are financeable via a variety of funding options. You should speak with your lender before you bid to ensure you qualify for an investment loan. Investment property loans usually require a larger down payment and have higher interest rates.

Unfortunately, this is unlikely as these homes are occupied by tenants. If interior photos are available (usually taken when the home was being marketed for rent) we will post them on the property page. An interior inspection for the purposes of financing a property will be scheduled for the winning bidder following the auction. Please do not disturb or attempt to contact the tenant until after close of escrow.

In most cases, no. What may occur is a credit at closing for the amount of the security deposit being held by the seller. This amount is detailed in the lease agreement posted on each property page.

Yes, if rent was collected by the property management company, it will be prorated as a credit to the buyer until the start of the following month. The property management company will reject any accidental payment of rent made to them, instead of the new owner, following close of escrow. The new owner must contact the tenant directly or through a property management company for direct payment of the first full month of rent.