Turning your Las Vegas residential Real Estate property into a lucrative investment property is as easy as hiring the right rental management firm. But before you simply settle on the first rental management firm that is listed in a Google search page, you should interview a few firms and compare notes. Below are the top 10 questions that you should ask Las Vegas property management companies.
1. How many properties do they manage? – You want to make sure that the rental management company can handle the number of properties that they manage. In other words, you deserve to be a top-priority, no matter how many properties they are currently managing.
2. What are the costs associated with their services? – Rental management firms will typically take 10 percent of the month’s rent as a set fee, for their management services. Be sure to find out all of the costs before you hire a services of a rental management firm.
3. Are they full-time management company? – This question is related to the first question. You want to make sure that the answers are consistent and that they can dedicated a significant amount of time to the proper management of your Las Vegas property.
4. How will you contact them? – Make sure that there is an open-door communication policy. You should be able to reach them easily, and at a time that is convenient to you!
5. Are they certified, licensed, and have multiple references? – A good management company will be certified, have licenses, and be accredited within Las Vegas.
6. How do they screen potential applicants? – Do they ask for employer references? Are background and credit checks completed?
7. How do they collect rent? – Knowing their rent and security deposit collection policies will help you to better understand their management practices. You want to make sure that you are going to get paid on time.
8. How does their eviction process work? – Fingers crossed you will never have to evict a tenant, however in the case that you do, the property manager needs to have a standard eviction procedure that is in accordance with state laws.
9. How do they handle maintenance issues? – Keeping your home in top condition is one of the most important aspects of good property management practices.
10. How will your property be advertised? – Make sure that your chosen rental management firm will market your Las Vegas residential Real Estate property in a multitude of ways: digitally, in-print, online, through the MLS, etc.
