Our city of Las Vegas has been growing in leaps and bounds over the last few decades. The warm arid climate and the growing economy have been attracting new residents from all over the west coast for some time now. With all of the new residents moving in, more and more housing has been built to accommodate the influx of residents.
For those of us who have chosen to invest in rental properties, all the new residents moving in have made renting our properties out all the more lucrative. However, even if you own just one rental property, it can be a headache in the very least to try to maintain it yourself. This is why Las Vegas property management for rentals can be a life saver.
For those new property investors, just saying hiring a property manager is a life saver, probably isn’t enough to start them paying those fees, so we have decided to break down just how a good Vegas property management company can make you more money than if you just try to go it alone.
- Knowledge of the Market and Rent
Most newbie property investors that decide to rent out will often try to base the rent amount off what they pay in mortgage. These newbies will just do some simple math and say, “I pay X amount in mortgage each month, so in order to make money I will charge X amount of rent.”
The problem with this simple calculation is that if that “X” amount of rent isn’t on par with the average amount of rent paid for properties that are similar to the one being rented out in that neighborhood, then nobody will even take a look at the property, and it will sit empty while you pay mortgage each month.
Hiring a LV property manager will give you access to their extensive knowledge of the current housing market so that you can set a fair rent that is at an average in the neighborhood. This will ensure that you will be able to quickly find a tenant.
- Comprehensive Lease Agreements
Many newbie landlords who are managing their properties themselves will download the very first sample lease agreement that they find on Google. While these templates may hold up for a while, they can open up the landlord to legal action if something goes awry. A professional property management company will have iron tight lease agreements that they have complied throughout their years of managing properties.
- Property Upkeep and Tenant Retention
As a property owner, or multiple property owner, it can become very easy to lose track of all of the constant upkeep and maintenance that needs to be done day-to-day. This is especially true if you are trying to manage your property yourself, while holding down a full-time job. If you throw taking are of a family into the mix, then those minor little upkeep tasks become almost impossible to do yourself. If these tiny, insignificant tasks are left untended, they have a tendency to turn into major issues. Then you really have a problem.
Of course, the only way you will be breaking even in this situation is if you have good, rent paying tenants. However. Tenant retention is directly based on how quickly you fix issues with the property. If you are slow, and leave your tenant living with leaking faucets, water damage, creaking doors and other unfixed damages, chances are you won’t have rent paying tenants for long.
Hiring an expert at Las Vegas property management for rentals means that your manager will have a list of contractors and handymen who they can call on day or night to immediately fix whatever damage or issue that may arise. This tells your tenant that you care about their comfort and that is one of the keys to tenant retention.
- Less Stress
As a Las Vegas property manager that has been in the business of over 20 years, this is by far the best-selling point for our services. We all must make money in this world to support ourselves and our families. While on that pursuit, it is so easy to lose track of what’s really important, and that is to take some time to really enjoy the life we have.
You can go on as many vacations as you would like, but if your phone is constantly going off with issues that need immediate attention, you will be hard pressed to even enjoy the vacation itself.
Hiring a property manager will take all the stress of your investment off your shoulders, so that you can enjoy your life, without having to worry about the constant day-to-day stresses of managing your property correctly.
The Rental Lister is the BEST Las Vegas Property Management for Rentals
Our Las Vegas property managers are some of the bests in the business. We have been helping the residents of Las Vegas live their best lives, while still maximizing the value of their investments. Our guarantees make trying our service risk free and allows us to prove our worth without being locked into a contract.
We would love the chance to show you that we are the best Las Vegas property management for rentals around, so call us today!