Henderson and Las Vegas Residential Property Management Articles

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.

One of the greatest fears of owning a rental property for most homeowners is the fear of an eviction. And rightly so! An eviction usually means unpaid rent, possible damages to a home and the task of navigating the legal system to complete it. It leaves many owners flustered and upset. So, here are a few helpful tips about evictions to alleviate the fear and be in the know! Knowledge of the process can help you deal with this situation and take the necessary and appropriate steps.

  1. Nevada makes it illegal for a landlord to use “self-help evictions” to carry out an eviction. This means that a landlord cannot take an eviction into their own hands, changing out the locks without the involvement of the Court, the Sheriff or the Constable. And a landlord cannot try to force a tenant off of the property by making living conditions “unbearable.”
  2. All evictions must begin with a notice. There are different notices to choose from, depending on the situation. Non payment of rent, for example, requires a 5 day pay or quit notice to be served. If there is a nuisance at the property by the tenant, a 3 day notice describing the nuisance must be served. If a tenant fails to comply, a second notice must be served, known as a 5 day Notice to quit for unlawful detainer. There are also notices for lease violations that must be adhered to. Ultimately, a notice based on your circumstances must be chosen, as outlined in Nevada law. The constable may serve the notice, the landlord or a process server can be hired.
  3. To evict a squatter from the home, the correct notice must be served as well!
  4. Once the notice is served and the appropriate amount of time has elapsed without resolution, a complaint of summary eviction must be filed with the Justice Court. Once this is approved by the court, the constable will become involved to complete the lock out. During this process, you will receive forms and instructions to successfully complete an eviction.

Of course, keep in mind that this is simply a summary. Situations will vary. Notices vary. And the length of time will vary to successfully complete an eviction. If you need assistance, be sure to seek legal advice.

Above source information: http://www.clarkcountynv.gov/constable/lasvegas/Pages/EvictionProcess.aspx

Contributed by Nicklin Property Management

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

Many have heard that acronym used around financial advisors or investors, including those involved in rental properties.  ROI stands for “Return on Investment.”  And it simply shows what the rate of return is on an investment that is made.  When it comes to a rental property, the ROI is usually looked at by an investor to determine if the rate of return is satisfactory compared to the purchase price of a property.   However, an important point to keep in mind is that there is no set ROI out there.  Every investor must make this decision on their own.  How do you determine an ROI on a rental property?  Simply put, you divide the annual rental income (minus any expenses incurred) into the purchase price of the property.  Then, multiply by 100 to acquire the percentage.  This will give you the annual net ROI.  Of course, it is sometimes challenging to figure out all of the expenses when purchasing a rental property, since repairs specifically can be unpredictable.  A high ticket item can change the ROI drastically.  However, with good preparation and research, a rental property can be a successful venture.

Choosing the right manager for your property can be a daunting task. So, what qualities make a good property manager? Being in the industry for over 30 years has shown us what property owners and investors are looking for and how to deliver on expectations.

GOOD COMMUNICATION.

One of the highest priorities, if not the highest, for the vast majority of rental property owners is communication. Owners want to know what is happening with their property. And with good reason! A considerable amount of money has been invested into a property and an eagerness to see how the property is doing is anticipated. From finding a tenant to updates on costly repairs, owners want to be involved in the approval and progress of these various issues. Though some have no debt against their properties, many do. Being informed helps them budget for the following month and plan accordingly. Even if an update is not available, letting an owner know that no update is available is an update in itself.

KNOWLEDGEABLE.

Property owners want a property manager who is knowledgeable in the field, knows the business well and legal procedures. Owners are looking for guidance during difficult circumstances, non payment of rent and handling of maintenance repairs. Being familiar with what the law states enables a property manager to be effective in addressing these issues. Knowing how insurance claims work, home warranties and HOA’s is just as important. Really, understanding the business is important.

EFFICIENT.

Owners want efficiency, both with the processes employed to costs incurred. Most rental property owners want their houses rented in a timely fashion, maintenance issues handled quickly and efficiently, utilizing well priced vendors. Owners want their properties inspected when promised. Having the knowledge, communication skills and resources enables a property manager to be efficient in all areas, with few delays.

Yes, property managers must wear many hats to be successful. And they must wear those hats well.

June 2017 – Nicklin, one of Nevada’s largest property management firms, continues to impress investors with low vacancy periods, quick rental turnarounds and high tenant retention. In 2016, some 100 new clients decided to have to Nicklin oversee nearly 120 new properties due to their success in the rental market. For over 30 years, Nicklin has been managing residential properties throughout the Las Vegas area, including Henderson, North Las Vegas, Boulder City, Summerlin, Green Valley and everything in between. Nicklin has been awarded the “Honorary Alumni” award by the Greater Las Vegas Association of Realtors due to the extensive years in business and dedication to professionalism. Nicklin continues to uphold a high level of service and determines to be the leader in the property management industry.