Henderson and Las Vegas Residential Property Management Articles

An effective property manager is a risk manager for your most valuable investment

What is a property manager? Is it:

1. Someone who collects rent?

2. Someone who leases your home?

3. Someone who manages your rental property?

Anyone of the above answers is correct, however, all three combined really describe what the job description of a property manager involve. Even more so, a property manager can be described as your risk manager for a rental property. How so?

Property managers are usually hired because a property owner either doesn’t have time, know how or resources to effectively manage their property. So, they hire a property manager. But, not all property managers are created equal. Not all are effective risk managers – minimizing the risk that exists in the property management world. For example, not all property managers screen tenants thoroughly. What can this mean? An unqualified tenant can lead to unpaid rent, property damage and evictions. Proper risk management will mean evaluating a tenants qualifications and looking after the owners interests, advising the owner of the risks and looking for a qualified tenant.

Even after a qualified tenant is found, risk management continues. For example, move in and move out walk through inspections allow you to hold a tenant responsible for damages that may have occurred. Periodic property inspections help gauge how a property is being maintained during a tenancy and action can be taken for issues or problems, even if it is normal wear and tear since small problems can become costly ones without proper oversight. And effective bookkeeping and accounting can keep rent payments flowing on time without any issues.

It is clear to see that a property manager is more than a rent collector or a leasing agent. They are an integral part of your most costly investment. So, it is best to choose wisely and to look for more than the least expensive one. It is best to have a property manager that has the skills and expertise to keep your investment occupied, maintained and preserved.

Contributed by Nicklin Property Management

Las Vegas, Henderson Property Management

It almost feels like summer in mid spring. Temperatures are soaring and everyone is feeling the effect! What should you know as we deal with an early heat pattern?

1. Drink plenty of water! Since we just recently came out of a cool season, we may not be accustomed to drinking a lot. However, this is important now more than ever before. Dehydration and heat stroke can result without having plenty of fluids inside. Carry water with you. Cars often times get much hotter than the temperatures outside, so perhaps keep a cooler handy with ice packs and bottled water.

2. Take care of your pets! If your pets tend to stay outside a lot, make sure they also have plenty of water and shelter. Keep a covered area or dog house available for them to take shelter. In extreme temperatures it would also be advisable to limit your pets outdoor activity. Pets can also get dehydrated and succumb to heat.

3. Ensure your landscaping is getting adequate water. During spring, watering restriction only allow you to water your plants 3 times a week. Make sure that your sprinkler system is set up to water during your assigned days. Additionally, ensure that all of your drippers and sprinklers are working property. Replace any that are not. If you notice some plants or grass still struggling, hand watering is best to stay compliant with watering restrictions.

Stay safe and stay cool!

This time of the year, with warmer weather and additional rain, weeds are taking root!  As you drive through the valley, you may notice yards overtaken by them.  Grass that has turned into crabgrass with many bare areas due to weeds.  Rock landscaping engulfed with them.  What can you do to effectively keep them at bay?

With desert landscaping, where no grass is present, the goal is to do regular landscape maintenance.  30 minutes of weed pulling  per week can go a long way!  Always be sure to wear gloves since some weeds have small thorns that can give you a run for your money.  For stubborn weeds that like to spread, you can invest in a small bottle of weed killer that kills dandelions and clover.  Of course, do your research as to choose the right one.  Always wear protection, such as gloves, mask and safety glasses when applying it.

When it comes to grass, the goal is to maintain the grass well.  A thick lawn will repel weeds on its own – not allowing them to take root very easily.  However, if you have a few weeds, it is best to simply pull them.  For weeds that take over a lawn, such as crab grass or other type of grass weeds, you may need to invest in a weed killer that is designated for your specific grass – Bermuda, fescue or something else.  And be sure to figure out what kind of weeds you have since weed killer sprays are usually designed for specific types.  A general grass weed killer may treat most.  However, for some, you will need something different.  A nursery or home improvement store can offer suggestions.

So, keep your yard looking clean and weed free.  Your home will be presentable and your HOA will thank you.

It’s no surprise that emergency measures have been implemented across many industries due to the COVID-19 pandemic, including real estate. As a rental property owner, what should you know so you can keep yourself compliant? Here are 3 top things!

1. Rent – Some tenants may not be able to make their rent payments. If so, under current emergency mandates, you cannot issue a non payment notice (7 day pay or quit), file an eviction or charge late fees. The goal is to prevent disruption in the rental market and have mounting evictions.

Landlords cannot and should not change the locks or put notices on their tenants’ doors or mailboxes to scare them into moving out.

What can you do? You have two options: Forgive some or all of the rent, depending on your tenant’s circumstances. Forgiveness is not obligatory under the new mandates. Or you can defer some or all of the rent, making it due later on. A payment plan can be initiated to collect the deferred rent.  The key is communication by both tenant and landlord.

2. Home maintenance – Even though rent may be suspended, the home must still be maintained properly. Homeowners are required to address habitability and other maintenance related issues.

3. Non compliance of lease by tenant – If a tenant poses a danger to other tenants or the public, is engaging in criminal activity or is damaging the property, eviction proceedings may move forward.

Together, we can make this situation easier by working together. Nicklin is doing its part to minimize the impact for both tenants and homeowners and we will continue to keep our clients well informed of any new changes.

Your rental property, most likely the most expensive investment you will ever make, requires an involved owner. Why you may ask? If my home is leased to a good tenant who promised to maintain it, can I take a step back? Consider the following.

1. Ultimately, the property belongs to you, the owner. You are responsible for what happens with it, with exception of course. Knowing that there is an ownership responsibility should prevent a homeowner from taking a back seat and allowing things to chance. A proactive homeowner will typically ensure that their liability is in check and that they have a good handle on THEIR investment.

2. Maintenance, one of the costliest items a rental property owner will experience, requires immediate attention in certain circumstances. For example, a water leak, lack of cooling or heating or a home with no hot water can be considered habitability issues and require repairs within an allotted amount of time per the law.

3. Nevada law stipulates responsibilities upon an owner and what is expected of them. The same is true of tenants. Being a proactive owner will allow you to stay compliant should something arise.

As evident, it is important to be a responsible and responsive rental property owner. As a result, being involved and highly interested in what happens is key to minimizing your liability and having a successful investment.

Contributed by Nicklin Property Management.

Did you know that the Strip is different than downtown? Many mistaken the two as one and the same. However, there is a considerable difference. Downtown Las Vegas, which is north of the famous Las Vegas strip, is where what is known as Las Vegas began! The original hotels, such as The Plaza, Binion’s Horseshoe and California still make up the skyline. Our local government and court system is downtown. And of course, Fremont Street. Further south, from the Stratosphere to the Mandalay Bay is what is known as the Strip – the entertainment mecca that draws millions every year. While tourists may be familiar with the hotel, dining and entertainment options in both downtown and the Strip, what about living in those areas? Are there properties available?

To answer this simply – yes! Properties will vary considerably though. In the downtown area, older, vintage type housing will be available. Depending on the upkeep, those homes will need make over’s and updates. However, in more recent years, mid and high rise residential buildings have taken shape. For example, the Ogden and Soho lofts offer beautiful amenities, contemporary units and luxury features, such as rooftop pools and exercise facilities. Of course, these properties come at a premium and monthly expenses in the form of HOA dues are considerably higher than a single family home. However, for those interested in downtown living, options do exist.

The Strip has gained considerable attention as well within the last 20 years. While residential communities of homes exist within a relatively short drive to the strip, those wanting to live directly on it or within short walking distance have options. For example, Turnberry Towers, Panorama Towers, Skytower and others offer this experience.

The amenities are luxurious – for the right price. Views can be extraordinary, encompassing the Las Vegas skyline and mountain ranges surrounding the Las Vegas valley. The features of each individual unit offer a unique lifestyle. Of course, as go the features so goes the price. However, for those desiring that lifestyle, the strip delivers.

For those interested in investing in either downtown or the Strip, especially with the goal of generating a return on their money via renting their units, it is important to talk to a qualified property manager since rental income will vary. Nicklin can help. We have experience in both leasing and management of high rise units.

Downtown Las Vegas along with the Strip are continuing to attract many. New developments and multi billion dollar projects are underway, adding to the excitement of living in this prestigious area. This, along with the amenities that high rise buildings offer, continue to attract new homeowners and investors.

Contributed by Nicklin Property Management.

When a tenant states that they want or need to break their lease early, they are many times asking about what will happen to their security deposit and obligations to the lease. Because every lease is different, the obligations will vary. To what extent a homeowner or investor holds their tenant to the terms of the lease is up to them. It may vary based on how long the tenant has resided at the property, what condition the property is in or what the circumstances are surrounding the early termination. For example, is the tenant looking to terminate the lease early due to a job transfer, burglary at the home or other unforeseen circumstances. Every owner has to make the decision within the confines of the lease term.

One thing to keep in mind is no matter the circumstances of the early termination, keep a respectful and professional demeanor. Getting angry or agitated will not cause the situation to go well. The goal is to have the property returned to you in as good condition as possible. Keeping a positive attitude can also help you in developing a working relationship with the tenant so that your home can be re-leased in as little time as possible, preventing unnecessary down time and loss in rental income.

So, beyond the contractual part of renting a home and having a broken lease, look at the bigger picture. Stay positive and make the best out of the situation.

Contributed by Nicklin Property Management.