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.

We have all seen that house – it looks good as you drive by, as you pull into the driveway and no doubt even looks good when looking out the windows. Its the house everyone notices in the neighborhood and if it should ever sell, it will no doubt fly off the market.

This house has excellent curb appeal! Tastefully designed landscaping surrounded by a well maintained house that can be seen clearly from the street. Most of us want that type of house, however, few of us achieve it. What can you do to bring curb appeal to your home, even if your not selling or renting it? The improvements can be fairly simple!

1. Prune trees: When a tree starts off in a small 5 gallon bucket and is planted, it is overpowered by the rest of the landscaping and house. However, fast forward 5 or 10 years, and that tree probably has grown considerably. Even if it’s not the largest tree, branches have probably grown in different directions and may make the tree look somewhat irregular. Be sure to look at the tree from the street / sidewalk and see what branches may need to be trimmed back some to keep the tree looking neat and clean and have a more uniform look.

2. Trim plants and bushes: We’re all excited to see our plants grow, however, if not trimmed back, they can overpower the house and look unkempt. This will lead to a messy look around your house. Be sure to trim plants and bushes on a regular basis. If there are too many plants that are over crowding your planter bed, you may want to consider removing some. A simpler landscape has more curb appeal.

3. Painting your house: With each year, the exterior paint wears more and more. Run off from rain water from the roof of your house coupled with the strong desert sun leads to stains. You can touch these stains up by matching some paint at your local hardware store. Simply grab a cable or phone cover plate on the exterior of your home and have it paint matched. You can then touch up the stains and even caulk and paint any cracks around your house.

4. Light fixtures: Older light fixtures, such as porch lights or ceiling lights by an entry can date a house as well. Adding newer, modern brushed nickel or bronze lights can really push your house into the 21st century and give you good curb appeal.

5. Garage driveway: Every garage driveway gets tire and oil stains. Be sure to buy the appropriate cleaners to keep your driveway looking sharp.

These 5 steps can give you the curb appeal you want. You will have pride of ownership or if your thinking about selling or renting, you can maximize your profits!

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Contributed by Nicklin Property Management.

Senate Bill 151, which passed and took effect July 1, 2019, is making some noteworthy changes to landlord tenant law. What are those changes? Here are a few that pertain specifically to residential rentals:

1. Increase to pay or quit timeline from 5 full days to 7 judicial days
2. Requires the constable to post a notice for a tenant no earlier than 24 hours after the order
3. Increases the time the constable has to remove the tenant in default from no earlier than 24 hours after posting the notice to no later than 36 hours.
4. Maximum late fees that can be charged to a tenant are reduced to 5% of monthly rent

As a landlord, it is important to conform to these changes – to know what the law states. This includes making sure leases are correctly written and following the process as outlined. Staying up to date is the trademark of a knowledgeable landlord, who looks to keep their property operating efficiently, in good repair and compliant.

Stay in the know with Nicklin Property Management.

Source: https://www.leg.state.nv.us/App/NELIS/REL/80th2019/Bill/6188/Overview

Contributed by Nicklin Property Management.

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.