Smart investors know that it’s always a good idea to hire a professional property management company. It helps you protect your investment and earn more on it. Professional management is even more important when you’re a remote landlord who lives out of town. If you aren’t geographically close to your investment property, you need a local expert who can take care of it and protect it.
Screening and Placing Tenants
Remote landlords have a hard time filling vacancies. If you need to come to Las Vegas to market the home, show the home, and screen the tenants who are interested in the home, you’re going to spend a lot of time and money, and you may face higher vacancy times as well. With a property manager in Las Vegas, you’ll leave the entire leasing process to your management team. A good property manager will market the home quickly so you don’t lose rental income. You’ll know that your tenant is well-screened and that a thorough inspection has been done to document the condition of your property. Don’t try to lease a home from somewhere else. This will make you vulnerable to scams and bad tenants.
Maintaining your Las Vegas Investment Home
Property maintenance is also nearly impossible as a remote landlord. If a tenant calls in the middle of the night with a plumbing emergency and you’re hundreds or even thousands of miles away, how are you going to find a local vendor who can respond and mitigate any further damage? With a local property management company that has local maintenance resources, you can count on both routine and emergency maintenance issues being handled efficiently and affordably. A good manager will put an out-of-town landlord’s mind at ease by providing preventative maintenance care and conducting routine inspections.
Accounting and Communication
Technology is really a lifeline for any remote landlord who wants to keep up with the performance of his or her property. Make sure you’re working with a property management company that can offer you an online portal, where you can view inspection reports, review leases, and access accounting reports that show you all the income and expenses associated with your home. This is important when you cannot be close to your property. Tenants should be able to pay rent and submit maintenance requests online, and you should be able to rely on being paid consistently and electronically every month.
Protecting your Property with Professional Management
Las Vegas property managers can provide peace of mind and expert oversight for remote landlords who want to know their property is earning income and gaining value. Work with a management company that’s experienced with out-of-town landlords, and ask about the special things they will do to protect your home and keep you involved.
If you have any further questions, please contact us at Tradewind Investments. We believe Las Vegas offers investors a great market for rental properties, and we’d be happy to manage those properties for you. We are local to the area, we know the market, and we’re prepared to help you earn more and spend less on your investment property.