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)
It's that time of year again to get your heating system serviced. We are down to only one company who will charge us only $49 for this service (per heating 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.
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.
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.
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.
If you have additional properties that you need to have managed, contact Adrian Frankfurter to receive reduced management fees!
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.
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.
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.
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.
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.
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.
Mr. Nicklin feels very strongly about this and has begun a campaign to raise awareness. Please don't text & drive!
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.
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.
Deciding to rent out your most expensive investment, whether you are a first time landlord or a seasoned investor, can be stressful. Horror stories abound as to damage that was caused by a tenant, unpaid rent and months of vacancies. While some of these stories may be entirely true, knowing the basics of property management and basic laws that govern it can be very useful and limit the risk that can exist. For example, a number of individuals who are not familiar with the rental business decide to rent out their house themselves, without professional assistance. This can lead to missed steps in the screening of potential tenants, in performing necessary walk-through's and inspections, not having a properly executed lease agreement that is compliant with state law, and not being familiar with the legal process in the event rent is not paid or damage is being caused by tenants. Not being familiar with these things can lead to costly mistakes being made or extensive time elapsing before anything is done. And while there is a measure of risk in this business no matter how well you are familiar with property management, being proactive and knowledgeable has been proven to reduce the issues encountered. As a matter of fact, as a company, Nicklin manages 1400 properties. Because of our experience, knowledge and procedures, we limit evictions to less than 1% annually. Most of our properties lease within 4-6 weeks. This is a result of ensuring that properties are well prepared prior to listing for rent, thus attracting a well qualified tenant. It is also a result of a thorough screening process which helps in identifying qualification issues. Our goal is not to just fill vacancies - but it's to lease your home to the best qualified tenant which benefits you as the owner. Because of that, each month on average, 15-20 new owners and investors decide on having Nicklin manage their property. Thus, while renting your home can have its risks, knowing what to do in the event a situation comes up or having a reliable and dependable property manager is essential.
Obtaining and maintaining property insurance helps offset expenses related to liabilities and property damage. If your property has a mortgage associated with it, your mortgage provider will require that you have insurance coverage. However, if you have no mortgage, obtaining insurance and maintaining it will become your responsibility. Should an event occur at the property, whether it be tenant related or not, and financial liability is put onto the owner of the property, your insurance company may cover these (be sure to verify the details of the coverage when obtaining insurance). If there is property damage or significant loss of the residence, your insurance company may cover these expenses as well (be sure to verify the details of the coverage when obtaining insurance). In addition, additional coverage may be purchased for such things as: sewer line back up, flood, mold, etc. Please remember that anything not covered under an insurance policy would have to be paid for by you as the owner, which can at times be costly. If you already have property insurance, be sure to verify your coverage to ensure items that you are concerned about are actually covered. Most property owners are unaware of the actual items covered and are surprised when insurance will not cover a claim. Questions to ask are: Do I have coverage in the event of a fire or sudden water event (leaking plumbing resulting in property damage)? If so, how much? Do I have coverage for vandalism? for a flood? for sewer back up? If so, how much coverage do I have? What types of liabilities will my insurance cover? If someone is injured on my property or suffers a loss of personal items, will I be covered? For example, if a tenant or guest is injured, if a tenants dog hurts another person, or if a repairman is injured while on the property, will I be covered under my insurance policy? If so, how much coverage do I have? In addition, when turning a property into a rental that was previously occupied by you as the owner, be sure to notify your insurance company of this change so coverage can be adjusted.
Las Vegas home prices continue to show improvement through August 2013 from the time they bottomed out in January 2012. Back then, the median price of a single family home was $118,000. In August 2013, the median home price came in at $182,000. As far as condos and townhomes, those have also seen a significant increase with the average resale value in August of $91,500. Will this trend continue? Its difficult to predict. However, with inventory beginning to increase and price appreciation slowing down, it is likely we will see prices become more stable and level off. What does that mean to the investor? This usually indicates that there will be more room for negotiating a price. With real estate values still below average, many investors are able to attain a 6-8% gross return on their investment. This type of return has been very appealing and attracted many investors to purchase in Las Vegas. With more negotiating room, an investor may be able to maximize their return.
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.
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 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.
Managing 1400 properties, many of our clients have been referred to us by other real estate professionals and existing clients.
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.
For the best in property management services in Las Vegas, choose a company with a history of professionalism and success. Choose Nicklin.
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.
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.
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.
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!
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.
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.
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.
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.
For the best in property management services in Las Vegas, choose a company with a history of professionalism and success. Choose Nicklin.