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Nicklin Property Management & Investments

CLIENT NEWSLETTER

Spring and Summer 2014


SPRING & SUMMER REMINDERS

With warmer temperatures nearing, now is a great time to get prepared to prevent frustrating issues this summer. First, check your sprinkler clocks - you can water 3 days per week (be sure to check with the Southern Nevada Water Authority for the specific days your neighborhood is allowed to water or watch for the schedule on your water bill). Repair or replace broken sprinkler and bubbler heads. On a warm day, turn on your AC unit to make sure it works. Continue to change AC filters. This is also a great time to re-seed your lawn, trim bushes, and pull weeds in your yard. Check for leaks around pool equipment. Check for slow leaks at sinks and toilets also!

Check out the "Resources" page on our website for helpful "How To" videos for repairs to save the $65 on repairs per your lease.

If you require any maintenance services, feel free to contact the following vendors: TOTAL AIR (AC and Heating Service): 702-564-0008 | Ultimate Pool and Lawn Service: 702-210-3468 | Home Mechanix (Handyman Repairs): 702-375-8623

IMPORTANT INFORMATION

Due to our current economic situation, Mr. Nicklin is concerned that the USPS is not a reliable method of sending your monthly owner disbursements. Therefore, he suggests to sign up for direct deposit (epay) if you haven't already taken advantage of this service. By signing up for direct deposit you'll be guaranteed of receiving your money directly in your chosen bank account in a timely manner (available at nicklinpm.com)

Heating & Air Conditioning Units:

It's that time of year again to get your cooling system serviced. We are down to only one company who will charge us only $49 for this service (per cooling unit). If you want this service, please call our maintenance department. If you have another company that you would like us to use, please call and we will coordinate for you with the tenant. We strongly recommend completing this service, especially if you have a home warranty.

Property Management Agreements:

Please return all pages of the property management agreement, not just the last page with your signature. We consider this a good way to keep our information updated. It saves time & money when these forms are filled out properly.

Time Sensitive Material - Lease Renewals:

Please send your notification back in a timely manner so we can call your tenants and let them know if they can stay or need to vacate. This will help us in getting that information to the tenants promptly and hopefully have them extend their lease.

HOA Violations:

If an HOA violation is sent to your address, please send it to Nicklin ASAP so we can get the situation corrected before fines are assessed to your account.

New Accounts:

If you have additional properties that you need to have managed, contact Adrian Frankfurter to receive reduced management fees!

Re-Keying Property:

We need to re-key every new property and every time a house is re-rented. Due to potential liabilities, there can be no exceptions.

Sewer & Trash Bills:

To expedite the process, please mark on the copies you fax or send whether the bill has been paid or if you want us to pay from your reserve account before billing the tenant.

Account Balances:

Please note that our software program does not allow us to have negative balances. Therefore, if there is no money in your account, we cannot continue to advertise, pay utility bills or repair any needed items. Please be sure to look at the ending account balance on your monthly statement and provide funding when your balance is low to prevent delays in service. Also, when a property is vacant, your account statement will show a needed reserve of $10,000. Please do not worry - this is NOT the money needed in the account. It is simply a computer setting that is put into place when a property is vacant. It allows us to maintain a balance in your account while the property is vacant and any repair work is completed. Once the property is rented, the reserve will be $250 and any amount above that will be sent to you.

Property Visits:

If you are planning on visiting Las Vegas and would like to visit your property, please call ahead so we may schedule an appointment with the tenants. Per Nevada Law, we must give tenants at least a 24 hour notice. Also, please be aware that they may not be available to allow you into the property.

Home Insurance:

It is important to obtain and retain Landlord Insurance for a number of important reasons: liability coverage & property coverage for unforeseen events. A number of our clients have had to rely on their insurance coverage in recent months due to water and fire damage. Please be sure to contact your current insurance company to obtain Landlord coverage for your rental properties.

Home Warranties:

While home warranties can minimize expenses related to repairs, recently the cost of these has significantly increased along with the deductibles required. In addition, many items are not included as part of the warranty policy, thus forcing the owner to replace or repair an item at full cost. Because of our experience with home warranties, we do not generally recommend them. If you have additional questions, please be sure to call our maintenance staff.

Texting while Driving is DANGEROUS!

Mr. Nicklin feels very strongly about this and has begun a campaign to raise awareness. Please don't text & drive!

03/21/2014 Spring Weather Reminders

Spring is officially here. For the desert climate, this means that temperatures will begin warming up quickly. As this happens, it is good to stay ahead of the curve and be proactive with your home. First, make sure your irrigation system is adjusted to take into consideration the warmer weather. Many plants will need an extra boost! Be sure they are receiving enough water per the guidelines of the Southern Nevada Water Authority. This will allow them to start the growing process into summer, thus making your yard look good! Plants that begin to suffer from a lack of water will struggle even though they eventually receive the correct amount of water and may have a difficult time staying alive as the hot weather starts. This may lead you to spending more money on your yard than you would like. You may also receive a letter from your homeowners association even if you are leasing the property. Make sure your sprinkler and dripper system is functioning correctly by running a manual check on it and adjusting the days of watering. In addition, be sure to start up your air conditioning system. While the weather may be pleasant and the need for air conditioning may not seem necessary, it is best to see if there exist any issues before the hot weather is here. If there are repairs needed, air conditioning companies are not overly busy this time of the year and can assist you relatively quickly. However, if you wait until summer, you may have to wait for some time for a company to respond and the price may be much higher than anticipated since there is much demand during that season. In addition, be sure to check your weather stripping and seals to preserve cold air. Summer is on its way!

01/02/2014 Las Vegas Leads Nation in Real Estate Appreciation

Las Vegas has once again come out on top in real estate appreciation. As investors, first time home buyers and secondary property owners took advantage of low interest rates and still below market values, competition grew as inventory still remained relatively low. The real estate market saw a 27% average appreciation rate last year (2013). Whats expected for the following year? We can expect real estate values to continue to appreciate, however, at a slower rate. That is what analysts are predicting. We can also expect new home construction to continue as inventory remains low. Mortgage rates are expected to go up by about 1 point. All in all, the market should still remain relatively affordable. Investors who are purchasing rental property and looking for a specific rate of return must be sure to take into consideration all rising costs, including homeowners association payments, taxes and insurance.

12/04/2013 Houses and Cold Weather

Cold weather can sneak up on us all. It can also cause us to have to make repairs that could have been prevented with some basic maintenance. For example, pipes that are exposed to the cold can freeze and break. Pressure regulators can freeze causing seals, plastic caps and shut off valves to begin leaking. Windows that are not sealed properly or a lack of insulation in the attic can let cold air in, thus making your heating system run longer, increasing your utility bills. What can be done? For exposed water pipes and pressure regulators, be sure to wrap them with insulation that can be purchased for an inexpensive price from a home improvement store. Or simply wrap a towel around them. For windows, be sure to seal any gaps or openings that are letting cold air in. This can be done using vinyl tape or other approved insulation. Insulation for the attic can be purchased or you may hire a professional company to blow insulation into the attic. Overall, the costs of completing these items are relatively low and save time and money in the long run.

An Honest Look at What Property Management is All About - Article One by Adrian Frankfurter

Property Management. These two words are action packed. However, they can be summed up in one sentence: Protecting the homeowner's interests and money in a rental property while at the same time ensuring that tenants are treated fairly and the property is maintained in good and habitable condition. Meshing the two together can be a challenge in the property management industry. The reason? Maintaining a property costs money, which is what tenants expect. The owner, on the other hand, wants to limit expenses as much as possible. A property manager is usually thrown in the middle of this and tries to find some middle ground. Is a repair the responsibility of the tenant? Or the owner? How old is the item that needs to be repaired? Did it fail because of wear and tear and age? Or was it tenant neglect and failure to maintain? There can be differing answers to these questions from both sides. Inevitably, a decision has to be made - and one party may not be very happy about it. This is one of many challenges that can occur. Maintenance issues are the most common item that comes up in this business. Sometimes they are minor and at times, depending on the age of the home, they can be significant. Maintenance can be a burnout factor for many investors. Knowing how to handle them is essential.

In addition to that, scheduling appointments to inspect a property can also pose its share of problems. At times, tenants cannot be reached for one reason or another, even after numerous phone calls, letters mailed and emails sent. This can be frustrating for both the owner of the home and the property manager. And while Nevada law allows for entry after serving a 24 hour notice, this can pose a liability and safety risk to the property manager.

Unpaid rent can match the headaches of large maintenance expenses and more. Even after a thorough screening is completed with no obvious risks, a tenant may become delinquent in rent for one reason or another. This is not favorable for both the owner and the property manager. The property manager must at that time take the necessary steps to notify the tenant of non payment, which requires following state law and in some instances, represent an owner in court and complete an eviction. These can incur costs. In addition, the number one concern for owners is the condition of the property upon the tenants vacating, whether that be by an eviction or during a normally scheduled one with the lease fulfilled. Who will be responsible for repairs? Which will be considered normal wear and tear and which ones excessive? If there was a pet, is there any damage? After the owner decides on how to disburse the security deposit, how will the property manager respond to any disputes by the tenant? What if court representation is needed?

When engaging in trying to lease out a property, property managers must be able to deal with the challenges of successfully leasing out a property. This includes recommending fair market value for the property. What happens when an owner disagrees as to the rental rate for their property? This is a challenge that the property manager must be able to respond to.

Yes, engaging in property management has many challenges - some that can pose some very stressful circumstances to the property manager, especially when difficult decisions must be made within a relatively short amount of time. This is in addition to the normal services that are performed on a regular basis. This 3 part series will examine the difficult circumstances listed above and how they can be dealt with successfully.

What Sets Nicklin Property Management apart from other property management companies?

As one of Las Vegas' largest property management firms managing 1400 properties, we understand what property owners and investors are looking for in a property management company. Being in business for over 25 years, we have managed single family homes, condominiums, townhomes, luxury properties, high rises, and homes in age restricted communities for thousands of owners. We understand that economic and real estate market changes have affected the rental market significantly. We also understand that in order for a rental property to be successful, a proactive approach is necessary. That is why Nicklin has developed a system that has proved successful year after year which in tum has allowed us to continue to grow as a company even during these difficult economic times.

We encourage you to compare Nicklin and see what sets us apart from other property management companies.

95% Client Satisfaction Rate

A recent survey was sent to every one of Nicklin's current clients. The survey rated Nicklin's service based on timeliness of response, maintenance resolutions, and the leasing process. The vast majority expressed their satisfaction and that they would refer others to Nicklin also!

Nicklin maintains a low 3% average vacancy rate and 0.5% eviction rate!

Nicklin advertises each property on numerous advertising sites, leasing most in 30 days. Each prospective tenant goes through a comprehensive screening process-credit check, rental history and income verification-and is then presented to the owner for a final decision. This keeps Nicklin's eviction rate very low.

Nicklin has become one of the largest single family property management firms in Las Vegas!

Managing 1400 properties, many of our clients have been referred to us by other real estate professionals and existing clients.

Nominated as a Favorite Place on Google - Less than 1% of Businesses in the US.

 

2009 Recreational Property Show Exhibitor
Edmonton - Canada

 

The 2009 Recreational Property Show in Edmonton, Canada featured real estate firms and properties from all around the world. Nicklin was invited as an authority in the Las Vegas property management market to present important and useful information for investors looking to purchase properties in Las Vegas.

Compare our Services ...

  • Move In Walk Through with Tenants
  • 90 Day Inspection of Property
  • 9 Month Inspection of Property
  • Move Out Walk Through with Tenants
  • 24 Hour Maintenance Staff
  • Monthly Account Statement
  • Year End 1099 and Profit and Loss
  • Collection of Rent from Tenants
  • Court Appearance for Non Payment of Rent
  • Coordination of Eviction with Constables Office

All Included In Our Management Fee!

For the best in property management services in Las Vegas, choose a company with a history of professionalism and success. Choose Nicklin.

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References

Steve Nicklin has been the property manager of my investment properties for almost fifteen years. He is extremely competent and professional in his approach to property management. In today's world it makes sense to hire a professional with expert knowledge of the complex laws and regulations that govern the landlord / tenant relationship. Steve has carefully assembled a staff to handle the many aspects of his operation. Each person is well trained and knowledgeable. I am pleased to recommend Steve Nicklin as a property manager. Please do not hesitate to contact me at 702-868-8700 if you have any questions.

- Jack Woodcock, CCIM, CRS Founder - Broker of Prudential Americana Group Realtors  Five Gold Stars


Thank you. You guys are the best! I wish you could handle my California property. My property management company here in California could learn a few things about customer service from Nicklin. Thanks again.

- Dave  Five Gold Stars


Dear Steve, just a note to tell you how pleased we were with the property management service you provided on the three properties we owned in Henderson. At one time we owned several properties in California and Nevada. Property management always turned out to be a nightmare. But working with your team was so effortless. You are true professionals with great ethics. Rent collected on time. Payments sent to us right on schedule. Problems taken care of immediately. And Amanda was a great help to us as the properties vacated. Please extend my sincere thanks to your staff.

- John Deloss  Five Gold Stars


Dear Steve, thank you for the outstanding services received from your staff during this challenging economic period in assisting me to refurbish and eventually rent both Stablegate and Spring Palms properties. It is not always an easy task but patient and dedicated assistance from a demanding customer is truly valued and appreciated. I am convinced that all these efforts will soon result in the successful rent of both properties. Thank you again!

- Yves E. Snoeck  Five Gold Stars


Nicklin Property Management came highly recommended as an agency known for commitment and honesty. In terms of customer service, your agency stood out among the rest. I commend you for the way you present yourself and for your professionalism. Thank you for taking the time to offer your services. Should a future need arise, I will certainly give you a call.

- Sandra Williams  Five Gold Stars


We would like you to know that we have had an exceptional experience with Nicklin Property Management. Your staff has been attentive, responsive, and pleasant. Your services made our lives so much easier hundreds of miles away, knowing our property was being cared for professionally. Thank you.

- Todd Riddiough  Five Gold Stars


Being deployed was an experience in itself. I really appreciate everything that you ladies (at Nicklin) have done for me. Big or small, all is very appreciated.

- S. SGT. Javan Thomas  Five Gold Stars


We wanted to say THANK YOU for all that you and the staff have done to get our home rented again. You guys are true professionals.

- Michael R. Blum  Five Gold Stars


For the best in property management services in Las Vegas, choose a company with a history of professionalism and success. Choose Nicklin.

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