A residential property management company should effectively manage a homeowner’s property. The property manager is responsible for completing a number of tasks that are designed to maximize an owner’s Return on Investment (ROI). In order to help you determine if hiring a Las Vegas property manager is right for you and your specific rental needs, we have gathered together a few pointers on the services that a great property manager can provide for home owners.
Las Vegas Residential Property Managers should:
• Market your rental property. – Property management companies will market your rental property to maximize its investment potential. Las Vegas residential properties should be advertised on multiple avenues to gain the most exposure. Email blasts, Real Estate websites, and in-print ads are some of the best ways to tell the world about the available rental property.
• Fill vacancies with qualified tenants. – Property managers will efficiently fill an owner’s rental home with qualified tenants. Each tenant will submit an application that includes references. The property manger will also conduct background and credit checks on all of the tenants.
• Properly maintain your rental property. – If you hire a residential property management company, then you should expect them to keep your property in excellent condition. The property should maintain a high-level of curbside appeal, as well as a well-maintained interior. Good property management companies will also have access to local contractors whom can fix larger home repairs.
• Negotiate leases and keep excellent rental records. – A Las Vegas property management company will handle all lease negotiations. If a tenant decides not to renew a lease, then they will begin to market the property, prior to the ending of the lease. In this fashion, the property manager will help to keep the property at high occupancy levels.
• Collect rents and security deposits. – Successful residential property management companies will ensure that rent and security deposits are collected on time.
• Comply with state, national, and fair housing regulations. – A residential property management company will be well versed in the Las Vegas fair housing regulations. They will ensure that the residential home and transactions are compliant with the housing laws and regulations.
• Keep owners informed about the status of their properties. – A Las Vegas residential property management company will stay in communication with the owner of each property. The owner will receive regular updates regarding the status of their property. Updates will include a variety of information, including: expected time of vacancy, necessary maintenance tasks, marketing plan, and an update on the current tenants.
