The golden rule of real estate investing still rings true: location, location, location!
When investing in a rental property, location is one of the most important things to consider when trying to achieve the highest ROI. In Las Vegas, the population is rapidly growing, in fact this city is one of the hottest real estate markets in the United States.
The current metro area population of Las Vegas in 2023 is 2,899,000, a 2.11% increase from 2022!
Even though owning a rental property in Las Vegas or the Metropolitan area can be a great way to generate extra income in this highly desirable real estate market, it does require a significant commitment of time and effort in order to make it a successful venture.
It is Imperative that your investment be managed properly and efficiently by a property manager who is experienced, familiar with the area, has access to various contractors and has an organized system in place to keep track of all records, repairs, rents, etc.
With over 20 years of expert experience, First Full Service Property Management is one of the leaders in the Las Vegas real estate industry. We offer a flat fee and take the guesswork out of property management.
Why hire a property manager?
Hiring a property manager is a great way to maximize the return on your investment in real estate. As property managers, we are experienced professionals who will help you manage your rental properties by ensuring that they are well-maintained and your tenants are paying their rent on time. We can also help you find new tenants, negotiate leases, and handle any legal issues that may arise.
Property management comes with a lot of responsibility!
There are many moving parts to owning an income producing property. After purchase, the real work begins! Finding suitable tenants by way of credit checks, income verification, and background information is very important. Proper legal documentation such as walk-throughs and stated representation is a MUST. It is common after moving in, that tenants will find various minor issues with the property that will need to be addressed within a timely manner. We take on all of these responsibilities so that you don’t have to. We continually monitor your rental and act as your eyes and ears on the ground to make sure that everything runs smoothly. More great benefits with our team include quarterly property checks, in house eviction services, HOA representation, collection services, small claims assistance and online pay option for tenants!
That’s why hiring a professional property manager is the absolute best way to take the stress and responsibility off your shoulders!
What does a property manager do?
> A Property Manager can maximize your profits
Vacant properties don’t make money! The downtime of vacancy is minimized by their knowledge of the local real estate market allowing them to set an attractive price point; therefore, making sure that you get optimal returns while minimizing vacancy rates. They do this by staying up-to-date on market trends to make sure rental units are priced competitively. They streamline processes such as tenant screening, rent collection, maintenance requests and more.
> A Property Manager can deliver effective marketing and advertising for your rental property
If you’re a real estate investor looking to rent out your property, marketing and advertising your rental unit is essential. You want to attract and vet quality tenants who will be willing to pay top dollar for your rental unit.
But the amount of work involved in a marketing campaign is tedious and requires know-how.
The right property manager can set up an effective marketing strategy to help you reach the audience and attract more tenants. Whether it is online advertising, social media campaigns, print ads, or direct mailers, your rental unit will be seen and your property will stand out from the competition.
> A Property Manager will find the best tenant for your rental property
Tenant screening is an essential part of the rental process for any real estate property. It is a complex process that requires careful consideration and attention to detail in order to ensure that the right tenant is chosen for the rental unit. By taking the time to properly screen potential tenants, landlords can reduce their risk of vacancy and increase their chances of finding a reliable tenant who will pay rent on time and take care of the property.
> A Property Manager will collect your rental income
Property managers can help landlords with rent by ensuring that rent gets collected on time each month.
Collecting payments from renters can be challenging and uncomfortable. Trying to maintain fairness while also getting the rent on time can be a balancing act, especially if your tenant has had difficulty paying in the past. A property manager knows the law and how to handle uncomfortable situations – even evictions if necessary. If you hire a professional property manager, you’ll get paid at the same time each month and that’s a good thing!
> A Property Manager manages your tenants
With the help of a solid property manager your real estate property is in good hands because they will be the point of contact for your renter and will handle all communication between you and your tenant. They make sure that your rental agreement is followed and if issues do arise, they will address them quickly and efficiently. They can also resolve any tenant concerns that come up and deal with tenant phone calls.
> A Property Manager handles repairs and maintenance
Any property will need maintenance and repairs, and a huge benefit of using a property manager is gaining access to their substantial pool of vetted contractors, suppliers, and vendors. They will get you the best work for the best price and will oversee any maintenance or repair projects with your approval. You won’t have to check up on contractors or micromanage the project and you will receive updates as the repairs are being made.
Call our office: 702-896-0286