A property owner appoints a professional Las Vegas Property Management Company to protect and enhance his investment. As the owner’s representative, the property manager’s priorities are to maximize occupancy levels, thereby increasing property values, assure timely collection of revenues, maintain and enhance the property, have a good rapport with the tenants, quickly and efficiently handle problems and promptly respond to emergencies.

Timely collection of rents is obviously most important to the landlord, and the transferring of these rent receipts to the landlord from the management company in a timely manner is just as important.

A frequent complaint from Las Vegas Property Owners in relation to their management company’s performance is a delay in transferring funds from manager to landlord within a reasonable time period. Frequent delays in transferring revenue can result in serious friction between the property owner and the management company.

Obviously, since the collection of rents is the primary source of a landlord’s revenue, the property owner must be assured that prospective tenants are thoroughly screened for past payment history, current credit worthiness, and sufficient income necessary to meet the property’s rental requirements.

Particularly due to the current economic situation, the property owner and his appointed agent should be in agreement as to what, if any, allowances are to be made in regard to a tenant who has recently fallen on hard times, but has maintained an excellent record for on-time payments in the past.

Once a new applicant has been approved for tenancy, it is important for the property manager to ensure that there is a full and complete understanding of the date and time when rents are due, and address any questions the new tenant may have about the leasing agreement, building amenities, maintenance procedures, etc.

Another property management essential is to complete daily, weekly and monthly documentation relative to reports of new tenants, evictions, pending legal matters, revenues, expenditures, and any and all matters pertaining to the owner’s property. This documentation is to be submitted to the landlord within a previously agreed upon time frame, as requested by the property owner.

In order to avoid misunderstandings and client dissatisfaction, it is of utmost importance that the property management company has reached a full and complete understanding of a client’s requirements, and that the client is in full understanding and in agreement with the property management company’s  fees, policies and procedures as well.

Successful property management requires, among other things, continuous education – keeping abreast of current and changing regulatory policies and procedures – access to the most up-to-date local market information available, excellent people handling/negotiating skills, and honoring commitments to landlord and tenant in a timely manner.

Establishing a good working relationship with the client unquestionably leads to client satisfaction and client referrals, the ultimate key to the successful operation and profitability of any business.

As we move into the slower season for the Las Vegas Rental Market, we are seeing more and more homes, town homes and condos hitting the market.  The reason is the re-sale market is hot right now.  Housing inventory is down and the market is saturated with real estate investors looking to score with home prices so low.  Real Estate Investors are buying at such discount prices, it is allowing them to pick up multiple properties which in turn, they are placing back on the market for rent at rates lower than market value.

The Las Vegas Rental Market currently has almost 5,000 available homes, town homes and condos.  This number doesn’t even reflect the amount of properties currently for rent by landlords.  To get homes rented, many landlords are forced to lower the rent or offer move-in incentives.  Potential tenants are aware of the excessive amount of properties for rent and are requesting incentives in order to sign a lease.

If you are a landlord or real estate investor looking to rent your home, town home or condo, contact Tony Sena with North American Realty of Nevada for all your property management needs.  See why our marketing program and tenant screening process is the best in the business.  We can be reached at 702.376.7379 or visit us on our website at http://www.LasVegasPropertyManagements.com or visit us on Facebook!

Finding the right Las Vegas Property Manager could mean the difference in your property being rented and maintained or sitting vacant and costing you money.  Even though most property management companies in Las Vegas offer the same services, not all companies follow through with their services.  I get several calls a week from real estate investors stating their property managers aren’t providing monthly accounting statements, rent money isn’t arriving on time or at all and there is no communication.  This is why our clients have access to their account via a link to our property management software, we automatically deposit all rent monies by the 10th of the month and we always keep our clients updated on the status of their property.

Another key aspect in property management is properly screening tenants.  Unfortunately, most property managers never even meet the tenant until they are signing the lease or picking up the keys.  They choose the tenants based on the information they receive on the credit reports, criminal background check, employment check, rental history and reference checks.  An area that is commonly over looked in the screening process by property managers is interviewing potential tenants.  Sitting down for 15-20 minutes can tell you alot about someone and is just another factor in screening a potential tenant.  Being a former City of Henderson Police Officer, I have years of experience interviewing subjects and I rely on my experience when I sit down and interview potential tenants.  I feel my experience makes me the ideal Property Manager to find the best tenant for your investment property.

So if you just purchased an investment property in Las Vegas and need a Property Manager or looking to replace your current Property Manager, give us a call at 702.376.7379 and I will be happy to go over our services.  We are available 7 days a week for all your Property Management needs.

When it comes to long term investments, many people consider real estate a ‘sure thing’. Of course, as with all investments, there is an element of risk. Sometimes that risk comes in the form of the tenants renting your Las Vegas property.

After working so hard to secure the property, preparing it for rental, and screening the renters – now you have to maintain the property to ensure your investment continues to pay off.

If you do your own property management in Las Vegas, you need to be prepared for the work involved. You may get calls in the middle of the night to deal with a leaky roof, a pipe that is broken, or a complaint about the neighbors. Then, you go to the mail box and you receive a letter from the HOA stating your property needs lawn maintenance.

The headaches can bog you down and make you want to jump out of the real estate game all together.

Instead of selling off your valuable assets – consider a Property Management company like North American Realty of Nevada. With the right property management company – you can rest at night, knowing that someone else is going to ensure that your property is well taken care of, that your renters are properly screened, and even keep tenants in your house for you.

Choosing the right property management company can be the difference between loving real estate (and loving your investments) and wishing you had never gotten into real estate.

If you are in need of Property Management Services, North American Realty of Nevada offers full service Property Management.  You can reach a Property Manager at 702.376.7379 or you can visit the website at www.PropertyManagementLasVegas.com.

Property management refers to the management of residential, commercial, or industrial buildings. Property managers find tenants, collect rent and fees, manage building maintenance, assist homeowners’ associations and advise on litigation issues. Though property managers often deal with multi-unit residential and commercial buildings, landlords who own single-family dwellings may also choose to hire a company to manage their property.

For multi-unit complexes, such as condominiums and townhouses, the property manager serves as an adviser to the homeowner’s association, which is responsible for common area maintenance and improvements.

In the United States, many individual states require property managers to hold a real estate license. Organizations such as the National Association of Residential Property Managers (NAPRM) offer certifications to property management professionals that ensure ethical and professional behavior. To obtain a certification, a manager must log a certain number of hours managing properties and take training classes offered by the association.

In recent years, the industry has increased its use of software to help manage properties. Available programs let managers maintain different sizes and types of properties, track tenant information, schedule work orders, and organize accounts payable and receivable. The use of software enables smaller companies to compete in the industry.

A major advantage of a property manager, especially for landlords not on-site, is to maintain or increase the investment value of the property. Property managers can survey average rents for similar properties in the area and determine the fair market value. They are also often available on a 24-hour basis to deal with maintenance emergencies that might otherwise cause property damage.

If you are in need of Property Management Services, North American Realty of Nevada offers full service Property Management.  You can reach a Property Manager at 702.376.7379 or you can visit the website at www.LasVegasPropertyManagements.com.

With the economy and land values plummeting it can be an opportunity for resourceful people. One of the biggest areas that investors are looking for help in is property management. Las Vegas has some of the highest value investment property in the world. Many of these investors are looking for quality property management to protect their investment.

Las Vegas property management is a growing and changing field in an economy and market that currently is taking a strong beating. If you are looking for a way to make an honest living and have unlimited income potential a career in Las Vegas property management may be exactly what you are looking for. There are many high quality firms in the area that are always looking for help. Qualifications for getting into Las Vegas property management are not difficult to meet. As long as you have a clean criminal record, high school diploma, and a strong desire to work hard and honestly finding a career in Las Vegas investment property management will be a breeze.

If you are a land owner in Las Vegas now is the time to look for property management to help you protect your investment. By using an outside firm to guarantee your investment you can have the free time to follow other more profitable pursuits. In this economy it is going to be the investors that can aggressively move forward that will survive. Those spending time worried about their current investments and wasting time managing them will be left behind.

North American Realty of Nevada has just added a Property Management Division which will be headed by Joann Davis.  Joann, our new Property Management Broker brings 5 years of Property Management experience to North American Realty.  Her experience, customer service skills and knowledge of the Las Vegas Rental Market makes her the ideal person in leading our new Property Management Division.

We will be offering Residential Property Management to our clients as well as anyone that owns an investment property in Las Vegas and requires property management assistance.  The fact that our real estate business runs entirely around technology, our clients and customers will be able to access their account information, pay rent, request repairs, contact us and so much more via our Las Vegas Property Management website.  Because our systems are technology driven, we can pass the savings on to our clients.

If you are in need of a Las Vegas Property Management Firm, feel free to contact North American Realty for a free consultation at 702.376.7379.

This blog is designed to provide basic information about buying residential property. It can be applied pretty much to any part of the U.S.

Before you can start, you need to decide what it is that you’re looking for (I will go into much more detail on this later in part 2). I would also add that you need to know why you’re looking to buy a house. Are you ready to settle down and make a long-term commitment? The days of buying and rapidly flipping property for a profit are gone (at least for now). Are you ready to give up your liquidity and your mobility? Are you prepared to fix things around your house yourself (there is no landlord to call from here on out)?

For those of you still with us, I will assume that you answered yes to most of the questions above. Now it is time to go out and find a lender. You’re Realtor or the people you bank with should be able to point you in the right direction. Going over your finances with a stranger is not fun, but it is the crucial first step in buying a house. You need to know with certainty the maximum amount you qualify for BEFORE YOU GO LOOK AT ANY HOUSES. Why would you want to go and look at $300,000 houses if the maximum you qualify for his $200,000?  This will also tell you what your monthly payment will be and how much you will need for a down payment. Any good listing agent will also require at least a letter of prequalification from your lender before they accept any offer you put forward. It also doesn’t hurt to get a second opinion from a different lender. Competition is a good way to get the best interest rate you possibly can when it comes time to lock or close your transaction.

If you don’t have a Realtor yet, now is the time to find one. Ask your friends and/or business acquaintances who they used. Where they happy with the work he or she did for them? You’re lender will undoubtedly know at least one Realtor they feel comfortable working with. Remember, if the Realtor can’t find you a house, the lender doesn’t get paid either.  Look for someone who takes the time to listen to what it is that you are looking for. A good Realtor will show you what YOU want to buy, not what they think you should buy. Do they only show you properties they themselves have listed to sell (if so, run, they are not looking after your best interests)? It is also important to remember that a Realtor can help you with both new and resale homes. If you want to go look at new homes, make sure your Realtor takes you on your first visit to the property. If you don’t, you may waive your right to have someone representing you at the negotiating table. If your a buying in Southern Nevada, I hope you would allow me the chance to represent you.

In part 2 of this Blog, I will go into more details about what to look for when buying a house. I will also go into what to do after you have found the house you want to make an offer on.

My name is Greg Hoffman. I have lived in Las Vegas since 1990 and I have been a Realtor here since 1999.

Many people in the Las Vegas Valley have lost their home due to foreclosure and have been forced into the rental market.  With the recent changes to FHA lending guidelines, homeowners whose homes were foreclosed on will not be able to purchase a home for 5 years.  So instead of buying a home in Las Vegas within the next few years, they will be forced to rent a home a little longer than they had thought.

Even though you might look at renting a home as a setback, if you look at it from a different aspect, it could actually be just what you needed.  Majority of the time, the rent that you are paying is much less than what your monthly mortgage payment was and you are no longer responsible for paying home owner association fees.  If you add the savings between the two, this extra money can help pay down some other debts that you may have or save the money for a future down payment on a home.

You also don’t have to worry about fixing items that break or are need of repair, just call the property management firm that is representing the homeowner and they will handle it.

If you are in the market for a rental home, feel free to contact us and we can assist you in finding the right rental home in Las Vegas for you!  We can be reached at 702.376.0088 or fill out our Contact Form!

Las Vegas Home prices have dropped throughout 2008 and the trend could continue through the fall and winter.  As more and more foreclosures hit the market, banks will continue to offer these homes at prices below market value in an effort to get them off of their books.  So with that in mind, you have to determine if it’s the right time for you to sell your Las Vegas Home.

If you determine the time is right to sell because of divorce, loss of job, job relocation or any other reason, it’s important to understand the Las Vegas Real Estate Market.  Unless you purchased your home before 2003 or put a substantial amount down, it’s unlikely your home has any equity and is most likely worth less than you owe.  This means, you have two options:

1. You can pay the difference that you owe at close of escrow
2. You can attempt to sell your home as a short sale

You have the option of selling your home and paying the difference at close of escrow but that amount could be substantial!  Not only do you have to factor in the difference between the offer amount and what you owe but also have to include real estate commissions, closing costs and taxes.

Selling your home as a short sale is not guaranteed!  A short sale is when your lender agrees to accept an offer for the purchase of your home at a price less than what is currently owed.  A short sale usually requires some type of hardship like divorce, loss of job or job transfer.  A short sale package has to be completed and submitted to your lender for approval and this can take anywhere from 3 weeks to 16 weeks!  Having an experienced Las Vegas Real Estate Agent that specializes in Las Vegas Short Sales is a must if you decide to sell your home as a short sale.

If you can afford to hold off on selling your Las Vegas Home in this market, I highly recommend it!  The Las Vegas Rental Market is doing very well and you have a greater chance of renting your home than selling.  Having an experienced Las Vegas Property Management firm representing you is important.  With so many homeowners losing their home to foreclosure, they are being forced into the rental market.  Completing a credit check is very important to determine the potential credit risk of your tenants.

Obviously your situation will play a key decision on whether you can afford to rent your Las Vegas Home instead of selling it in this real estate market.  Feel free to contact us at 702.376.0088 to discuss your situation or visit us on our website at www.SenaSellsVegas.com.