Do you have a residential property that you rent out, and you’re tired of handling all the responsibilities of a landlord? Working with the right Las Vegas property management company can help. A professional company can handle everything from rent collection to tenant vetting to eviction and maintenance. However, you do need to make sure that you choose the right partner. How do you do that?
Reputation
One of the first considerations here is to check the company’s reputation. What are current and past clients saying about the firm? About their experience with the company? Would a past client work with the property management company a second time, or would they go elsewhere?
Services Offered
Another key to finding the right Las Vegas property management company is to ensure that you have access to the range of services you need. A particular company might have a sterling reputation, but not provide all the services you require. Look for a company that can offer leasing services, 24/7 maintenance, financial reporting, background checks, property inspection, legal guidance, rent collection, HOA compliance and eviction assistance.
Check Currently Managed Properties
Before choosing any Las Vegas property management company, you should visit several of the properties the company currently manages, as well as some of the ads they are running to get tenants into their clients’ properties. Are the ads effective? Do they target the right audience? Are the properties well maintained and move-in ready? If possible, contact actual tenants in properties managed by the company. What do they have to say about their experience? Are their needs being met? Is the company prompt about handling maintenance and repair issues?
Licensure and Certification
As a final note, make sure you check the company’s license and certification. Nevada requires that property management companies be licensed, so check with the state’s real estate commission to verify that the company is active and in good standing. You may also want to check with other industry associations, such as the Community Associations Institute, the National Association of Residential Property Managers and others, as certification with these bodies ensures that the company in question knows and follows best practices.
Ultimately, the right property management company can take a lot of weight off your shoulders, allowing you to reap the benefits of being a landlord without having to deal with the headaches and hassles that so often go along with that title.
