Henderson and Las Vegas, Nevada Home Owner Articles

Are you a homeowner in Las Vegas or Henderson, Nevada? Enjoy home owner tips for renting your property.

The recent earthquakes in the California desert and felt in Las Vegas have many people worried if an earthquake can cause safety and property damage concerns right here in Las Vegas. After all, Nevada is one of the most seismically active states according to the US Geological Survey. Could a powerful enough earthquake strike in or close to Las Vegas and cause serious property damage? How would you protect yourself?

Earthquakes can strike at anytime and any place. It is difficult to predict, even for experienced scientists. And while Las Vegas has not had any tremors that resulted in significant property or infrastructure damage for many years, the risk exists. The Las Vegas valley has a number of fault lines that can result in an earthquake. And any effects from a strong earthquake in California can also affect the Las Vegas valley. So, what options exist?

Many people will say that they have homeowner’s insurance to protect them. However, it is important to note that most homeowner’s insurance policies do not cover earthquake damage. Insuring your home and other property typically requires additional coverage specific to that.

So, why don’t most people have earthquake insurance, especially in earthquake prone areas? Simply, due to the cost! Earthquake insurance is pricey. And even the deductibles can be significant, a percentage of the overall policy limit, which could be thousands of dollars depending on the policy limit.

Earthquake insurance also has exclusions many times. For example, a typical earthquake policy doesn’t cover landscaping, pools and fences among other things. Loss of use coverage can also be restricted within an earthquake policy. It is best to contact your insurance carrier to find out what the costs are specific to your needs and what the coverage would look like.

If earthquake insurance is not the right fit for you, what can you do besides that? Contact your current homeowners insurance provider and ask them what could be covered in the event of a serious earthquake. For example, if after an earthquake, the home has a fire or water event, would that be covered under the current homeowner’s policy terms related to those items?

Additionally, be proactive to mitigate potential damage and losses! Many times, damage occurs because items fall over. So, be sure that furniture, china cabinets with glassware and bookshelves are secured to your walls.
Most importantly, be sure to keep yourself and your loved ones safe during these events!

Source material: https://www.cbsnews.com/news/earthquake-insurance-8-things-you-need-to-know/

Contributed by Nicklin Property Management. The information provided here is for information purposes only and does not constitute real estate advice.

With so much talk in the news about a healthy and steady real estate market in Las Vegas, what is happening in the rental market?  Many individuals are tenants, renting a home from a private party, through a management company or at an apartment complex.  What have landlord’s and tenants experienced over the last couple of years, leading up to the middle of 2019?  Is it now time for you to become a landlord?

Well, its no secret that things have become more expensive since 2017.  As a matter of fact, the current median resale price of a single family home in the Las Vegas valley is right around $300,000, with projected increases.

The rental market has likewise taken a spotlight more recently.  Las Vegas used to be home to affordable rents, however, now there is talk about housing affordability.  Landlord’s who have had rental properties the last few years have seen this first hand.  Nicklin has seen this appreciation as well, especially as we look and see what properties used to rent for compared to today’s market.  What have we observed?

It is not uncommon to have seen a 30 – 50% appreciation! While this may sound unbelievable, this has become a common occurrence!  For example, some homes that used to rent for around $1000 / month are now closer to $1500. Of course, every location within the city is different and the exact rate of appreciation varies, however, nearly all of the properties Nicklin has managed have appreciated in value, significantly in many cases.  Driving this appreciation is a low unemployment rate and stable economy.

So, if you have contemplated leasing your home, this may be the time to do it!  Rents are high and you may be surprised with what you can get for your home, especially as you contemplate making your home a long term investment, thinking about retiring and looking for rent profitability.

Whether a tenant moves out because their lease expired or other means, personal items, including furniture, may be left behind. Before you throw out the items left behind, viewing them as abandoned or unwanted, it’s best to check to see what Nevada law states! As a matter of fact, Nevada law discusses this type of situation clearly under Nevada Revised Statute 118A.460 with the heading “Procedure for disposal of personal property abandoned or left on premises.”

The law states:

1.  The landlord may dispose of personal property abandoned on the premises by a former tenant or left on the premises after eviction of the tenant without incurring civil or criminal liability in the following manner:

(a) The landlord shall reasonably provide for the safe storage of the property for 30 days after the abandonment or eviction or the end of the rental period and may charge and collect the reasonable and actual costs of inventory, moving and storage before releasing the property to the tenant or his or her authorized representative rightfully claiming the property within that period. The landlord is liable to the tenant only for the landlord’s negligent or wrongful acts in storing the property.

(b) After the expiration of the 30-day period, the landlord may dispose of the property and recover his or her reasonable costs out of the property or the value thereof if the landlord has made reasonable efforts to locate the tenant, has notified the tenant in writing of his or her intention to dispose of the property and 14 days have elapsed since the notice was given to the tenant. The notice must be mailed to the tenant at the tenant’s present address, and if that address is unknown, then at the tenant’s last known address.

This process allows for sufficient time for a tenant to claim their items.  The appropriate time allowance and notice of disposal needs to be provided by the landlord. So, be sure to follow Nevada law and save yourself from liability!

NRS source: https://www.leg.state.nv.us/NRS/NRS-118A.html#NRS118ASec450

Contributed by Nicklin Property Management.

Many homeowner’s and investors with rental properties in Las Vegas live out of state and self-manage their properties. It’s a way for them to save having to pay a management fee.  However, are there requirements under Nevada law when living out of state while at the same time owning properties in Las Vegas? You might be surprised!

NRS 118A.260 states that a landlord shall disclose to a tenant in writing at or before the commencement of the tenancy “a telephone number at which a responsible person who resides in the county or within 60 miles of where the premises are located may be called in case of emergency.”

While some owners may have a designated contact who can handle this responsibility, others may not. A property manager can certainly meet that requirement under Nevada law while at the same time be your eyes and ears for the property, handle those emergencies and inspect the home.

So, be sure to stay compliant with Nevada Revised Statutes and contact Nicklin Property Management for a free proposal and rent estimate.

Contributed by Nicklin Property Management.

If you have visited Lake Mead in recent months or years, there is no doubt that you have observed a lower than normal water level.  As a matter of fact, Lake Mead was at only 40% capacity in 2010 and the water level has continued to drop.  The water situation has brought on speculation that Lake Mead, the main water source for Las Vegas, will dry up.  Is that the case? What has led to the drought?
Lake Mead formed in 1936 by the National Park Service.  The name, as it is today, came around in the 1940s.  The Lake is supplied with water from snowmelt in the Rocky Mountains, traveling to the lake via the Colorado River.
Over the last two decades, many changes have happened that has affected the lake water level.  Climate change, reduced rainfall, and human demand have put a strain on the water source.  Las Vegas, the main consumer of Lake Mead’s water, has grown significantly.  All of these factors have led to the water level dropping over the last 20 years so, with prominent drops over the last 10 years, nearly creating an emergency.
Due to this, proactive action was taken by authorities.  For example, a new intake tunnel was constructed in the middle of the lake, which took 7 years to build and cost nearly $1.5 billion.  This will allow water to still be accessible even if the water level continues to drop, below the current intake tunnels.
As Lake Mead continues to experience below normal levels, what does the future hold?  The Las Vegas Water Authority, which oversees water usage, continues to monitor the situation.  Many watering restrictions exist to preserve this precious resource.  And plans are being explored to tap into additional water resources.
So, while it is concerning that Lake Mead, a major water source, continues to drop, proactive steps are being taken to either replenish or add additional water sources.  Water restrictions within the Las Vegas valley have already saved millions of gallons of water each year.  These steps should give a measure of peace of mind to those who make Las Vegas their home.
Contributed by Nicklin Property Management.

As summer approaches, all of us will become very aware of the hot temperatures that will settle into the Las Vegas valley. We will find the need to hydrate more often and stay indoors during the hottest part of the day.  What about our pets?  Here are 5 things to keep in mind to keep your furry friends safe and comfortable:

  1. Hydrate your pets with plenty of water: In addition to leaving water inside, be sure to put water outside as well so your pets can take a drink when accessing your yard or patio
  2. Don’t leave your pets outside for too long: Make sure that your pets have access to the indoors, especially during the hottest part of the day.
  3. Don’t leave your pet in your car: Leaving your pet in your car, even with the windows lowered, can still expose them to heat related illness.  Temperatures inside the car can easily reach over 150 degrees on a hot summer day.
  4. Limit exercise of your pet until its cooler: Use the cooler mornings and evenings to let your pet run in the park.  Exercising during the hot part of the day, with the scorching sun, can lead to heat exhaustion.
  5. Visit a veterinarian if your pet displays heat related illness: If after being outdoors and in the heat, your pet displays different than normal behavior or becomes lethargic, be sure to visit a vet quickly.

So, be safe this summer.  And keep your pets out of harms way as well.

For other helpful tips, visit our BLOG on our website at https://www.nicklinpm.com/property-management-real-estate-blog/

Contributed by Nicklin Property Management – For professional property management, call us at 702-903-HOME.

With summer coming soon, warm weather will turn into hot weather which will last for a considerable amount of time.  Before temperatures reach the unbearable stage, be sure to complete these five things around your home to either determine if a repair should occur now or to verify that everything should be ready when the hot temps hit!

 

  1. Check your AC system: While some of us may not have turned on our AC system yet since temperatures are mild and comfortable, it would be a good idea to turn the cooling system on to check and make sure that it will start properly and run for an extended period of time.  This is a good time to get a preventative check done by an HVAC company as well.  Should the unit have difficulties cooling, it is best to handle the matter now, when temperatures are cooler and AC contractors are not overwhelmingly busy.

 

  1. Check your irrigation system: Make sure that your sprinkler system is functioning correctly.  Be sure to set it to water everyday of the week.  Additionally, run the system through a manual setting and inspect every plant to make sure the dripper / bubbler head is releasing water correctly.  Any clogs can be addressed by purchasing a bag of new drippers and replacing them.  Likewise with grass.  Be sure that every sprinkler is working and watering the grass correctly.  Broken or non working sprinklers will have to be replaced.  Check these items before the hot weather starts and your landscaping suffers.

 

  1. Check door seals: Make sure you have a good seal around your doors.  These keep cold air in and reduce your power bill.  If needed, purchase new door seals.

 

  1. Pest Control: During hot weather, pests will want to enter your home.  In addition to having a good door seal, be sure to use pest spray around doors and in the garage to limit bugs and other critters from entering the home itself.

 

  1. Pools: If you have a pool, be sure everything is working correctly and the pool is serviced weekly.  Lack of proper filtration or chemicals can cause algae to form fast due to the hot weather. If you have an older pool that does not have auto fill to keep the water level up, be sure to monitor the water level regularly and add more with a hose.  Evaporation happens rapidly in the summer.  You may want to invest in an auto fill valve that is placed on the side of the pool with a hose hooked up to it that will allow water in when the level falls.

So, prepare now for the hot weather and you will be glad you did!

For professional property management, call us at 702-903-HOME.

Contributed by Nicklin Property Management.