As a seasoned Vegas Property Chief, I believed I had seen it all, till this past week. It was one of thoseweeks where, if something can go bad, peculiar or wild, it will. I thought it might be fun and educational to share it with you.
The week started off fairly quiet : new owners signing property management agreements, leases being signed,appliances being delivered, landscaping being sharpened up, and renters moving into their new houses. Everyone was cheerful. Until Tuesday.
Tues. two of my rental agents both had appointments to show the same amazing, well furnished, model home : 3000 sq. feet, four bedrooms, four baths and a media room. Real-estate Agent “Mike” got to the house at a hundred pm, expecting his client to arrive any minute. Real-estate Agent “Kathy’s” client was supposed to meet her there at 2 hundred pm. ( The names have been changed to protect just about everyone. ) But on this day, Kathy’s clients arrived early to drive the neighborhood and familiarize themselves with shopping, services and parks in the area. Don’t you wish all prospective renters did the same?
Hence up to the house pull Agent Mike’s clients in their late-model Porsche. As they get out of their car, Kathy’s client drives by ( remember, an hour early ). Kathy’s client works for an automobile leasing company that handles top-end, costly cars like Jaguars. ( I am not sure if you see where this is going. )
Kathy’s client examines Mike’s client and the client’s Porsche and announces to himself : “Self, that client is leasing a car from my company and they’re not paying their lease ; I just wrote an order to repo that car last week, and the client is not returning my phone calls.” ( Wonderful. ) So what did Kathy’s quick-thinking client do? He called the repo tow truck, of course!
Let’s get this total picture in our minds. Mike and his client are inside the beautiful house filling out a rental application. Mike’s client announces “I’ll just go out to the automobile to get the application charge so that you can run my credit.” But when she arrives at the curb, the Porsche is gone. Naturally, as Mike joins her at the curb, the client says “Oh my goodness, my Porsche is gone, where is my Porsche, someone robbed my Porsche?” ( Thinking all of the while to herself, that XXXXXXXX car leasing company exploited the GPS to find my vehicle and they have repo’d it!” ) While real-estate agent Mike is, saying, where is my client Porsche and how am I going to put in this rental application now? In the meantime, Mike’s client walks off down the street and is never seen or heard from again.
In the meantime, Kathy’s client is still driving round the neighborhood waiting for Mike and his client to leave, so Kathy can show him the beautiful house. Naturally, he has called Kathy to tell her what happened, so she is racing up the 1-15 thinking, “Mike is going to kill me, how can I keep Mike from killing me?” Kathy arrives at the house and explains what’s happened to Mike’s client’s vehicle. Mike does, indeed threaten Kathy, but Kathy is reasonably confident he is just teasing.
Kathy shows the beautiful house to her client, who adores it and puts in a rental application and gives her the money to have his credit suitability check done. The owner of the beautiful rental home is less than interested about Kathy’s client’s credit, so he says to me, the experienced Property Chief, “I approve Kathy’s client to lease my beautiful rental house, but I am less than enthusiastic about his credit report ; so I want you to require two months security depOSit, with first and last months ‘ hire on lease signing.”
I, the experienced Property Manager, told Kathy, the experienced rental agent, that the owner of the gorgeous house was approving the possible renter and requiring additional security deposits on lease signing. Kathy told her client and the client said : “No I don’t choose to pay extra security deposits ; I’m going to find another rental home elsewhere.”
So what is the owner of the beautiful home announcing to himself now? “I sure am cheerful I have a professional Las Vegas property manager managing my Vegas Houses for Rent, showing my rental homes homes, handling the possible renters, running their credit reports and signing the leases. I actually never would like to go through all this myself!”
And THAT, is Reason Number 147 not to control your own rental houses and why you should generally use a Las Vegas property management company.
The week started off fairly quiet : new owners signing property management agreements, leases being signed,appliances being delivered, landscaping being sharpened up, and renters moving into their new houses. Everyone was cheerful. Until Tuesday.
Tues. two of my rental agents both had appointments to show the same amazing, well furnished, model home : 3000 sq. feet, four bedrooms, four baths and a media room. Real-estate Agent “Mike” got to the house at a hundred pm, expecting his client to arrive any minute. Real-estate Agent “Kathy’s” client was supposed to meet her there at 2 hundred pm. ( The names have been changed to protect just about everyone. ) But on this day, Kathy’s clients arrived early to drive the neighborhood and familiarize themselves with shopping, services and parks in the area. Don’t you wish all prospective renters did the same?
Hence up to the house pull Agent Mike’s clients in their late-model Porsche. As they get out of their car, Kathy’s client drives by ( remember, an hour early ). Kathy’s client works for an automobile leasing company that handles top-end, costly cars like Jaguars. ( I am not sure if you see where this is going. )
Kathy’s client examines Mike’s client and the client’s Porsche and announces to himself : “Self, that client is leasing a car from my company and they’re not paying their lease ; I just wrote an order to repo that car last week, and the client is not returning my phone calls.” ( Wonderful. ) So what did Kathy’s quick-thinking client do? He called the repo tow truck, of course!
Let’s get this total picture in our minds. Mike and his client are inside the beautiful house filling out a rental application. Mike’s client announces “I’ll just go out to the automobile to get the application charge so that you can run my credit.” But when she arrives at the curb, the Porsche is gone. Naturally, as Mike joins her at the curb, the client says “Oh my goodness, my Porsche is gone, where is my Porsche, someone robbed my Porsche?” ( Thinking all of the while to herself, that XXXXXXXX car leasing company exploited the GPS to find my vehicle and they have repo’d it!” ) While real-estate agent Mike is, saying, where is my client Porsche and how am I going to put in this rental application now? In the meantime, Mike’s client walks off down the street and is never seen or heard from again.
In the meantime, Kathy’s client is still driving round the neighborhood waiting for Mike and his client to leave, so Kathy can show him the beautiful house. Naturally, he has called Kathy to tell her what happened, so she is racing up the 1-15 thinking, “Mike is going to kill me, how can I keep Mike from killing me?” Kathy arrives at the house and explains what’s happened to Mike’s client’s vehicle. Mike does, indeed threaten Kathy, but Kathy is reasonably confident he is just teasing.
Kathy shows the beautiful house to her client, who adores it and puts in a rental application and gives her the money to have his credit suitability check done. The owner of the beautiful rental home is less than interested about Kathy’s client’s credit, so he says to me, the experienced Property Chief, “I approve Kathy’s client to lease my beautiful rental house, but I am less than enthusiastic about his credit report ; so I want you to require two months security depOSit, with first and last months ‘ hire on lease signing.”
I, the experienced Property Manager, told Kathy, the experienced rental agent, that the owner of the gorgeous house was approving the possible renter and requiring additional security deposits on lease signing. Kathy told her client and the client said : “No I don’t choose to pay extra security deposits ; I’m going to find another rental home elsewhere.”
So what is the owner of the beautiful home announcing to himself now? “I sure am cheerful I have a professional Las Vegas property manager managing my Vegas Houses for Rent, showing my rental homes homes, handling the possible renters, running their credit reports and signing the leases. I actually never would like to go through all this myself!”
And THAT, is Reason Number 147 not to control your own rental houses and why you should generally use a Las Vegas property management company.
Filed under News by on Nov 29th, 2011. 
If you’re the owner of rental property, you know that it could be a tricky job making an attempt to manage all aspects of owning rental property. It’s very important to keep the property maintained and in satisfactory condition. This often requires calling in contractors to mend broken items or a cleaning crew to prepare a vacant unit for the subsequent renter.
In addition to making absolutely sure that the property is well cared for, you want to make certain that the property is under contract as much as is possible. You need to do move-out inspections, move-in inspections, publicize for potential tenants, check references and credit status and even manage quarrels among tenants. It can seem like a neverending struggle. However , when you utilise a Las Vegas property managers, you can leave all the trouble to someone else.
A professional management serice can help you save time and money because they’ll handle all the tiny details leaving you free to work on more significant business matters. Experienced executives will also be in a position to keep occupancy rates as high as feasible while minimizing damage and mend costs by overseeing maintenance and repair issues. These professionals can even save cash over the long-haul by bringing their knowledge of making the most of your return on investment. Owning property is more than collecting a rent check and hiring a quality managing corporation could be a sensible business move.
In addition to making absolutely sure that the property is well cared for, you want to make certain that the property is under contract as much as is possible. You need to do move-out inspections, move-in inspections, publicize for potential tenants, check references and credit status and even manage quarrels among tenants. It can seem like a neverending struggle. However , when you utilise a Las Vegas property managers, you can leave all the trouble to someone else.
A professional management serice can help you save time and money because they’ll handle all the tiny details leaving you free to work on more significant business matters. Experienced executives will also be in a position to keep occupancy rates as high as feasible while minimizing damage and mend costs by overseeing maintenance and repair issues. These professionals can even save cash over the long-haul by bringing their knowledge of making the most of your return on investment. Owning property is more than collecting a rent check and hiring a quality managing corporation could be a sensible business move.
Filed under News by on Nov 22nd, 2011.
Times are tough and there are thousands of people looking to get rid of their homes. While home sales are down, vacation home are rising and you may find it more convenient to rent your home instead of trying to get away from it altogether. You can do this yourself or hire a property management group to help. Here are some reasons renting may prove beneficial.
You Simply Can’t Sell
Let’s face it. Everyone with a mortgage and high property tax payment is considering selling. There are more homes for sale than there are people willing to buy them and even those who do want to buy are having trouble getting loans. If you are desperate to move, you’ll find it easier to use a rental property manager and rent your home and you won’t have to worry about making a 2nd mortgage or rent payment like you would if you were waiting for a sale to go through.
You May Earn a Profit
When your house is rented, you must pay the rent to your current mortgage. This means that you will earn more equity in your home, and when the house is to pay the rent becomes a pure profit. As owner, you are also eligible for additional tax credits. Talk to your accountant about the financial benefits of leasing. You can find your old house is an excellent investment property.
You Can Always Sell Later
Renting you house now does not mean you can not sell it later on down the line. You might want to rent your house out of the lease-option, or you can just decide later that you want to sell. As long as the tenants were notified properly, you can still do what you want with the property. If the property turns out to be another, more work than you imagined, you can simply use the rental home a couple of years as a temporary solution.
No matter what you decide, make sure you talk to a property management group first. These individuals know all there is to know about rental laws, finding great tenants, and property maintenance and they’ll make the experience as hassle-free as possible.
Filed under News by on Aug 12th, 2011.