Are you looking for the best residential or commercial property manager in Las Vegas? We put together the 10 best questions to help you choose the best property manager that's right for you.
1) Do all property managers offer the same services?
No. Some property management companies only offer standard services for discounted pricing. A great property manager will provide a range of services you may need to make the rental process as easy as possible.
2) What laws do you need to be aware of before renting out your property?
There are multiple laws governing real estate rentals which include federal and state fair housing, habitability laws, tenant rights laws, applicant screening, rent-ready standards, and more to ensure that your property and the management experience is fully compliant with all rules and regulations under Nevada law.
3) If my property is vacant, do I have to pay a management fee?
No. Payments are collected when you get paid from a tenant so the management fee is a percentage of the actual rent collected. If there is no rent to collect or if your property is vacant, payment is not required.
4) How will you advertise my rental property?
There are extensive marketing platforms that will gather and attract high quality applicants from a variety of sources and social media platforms.
5) How long does it take for a property manager to rent out property?
Properties that are showcased well and are priced appropriately should rent in an average of 30 days or less. Rental price recommendations will be provided with weekly updates to minimize any vacancy time.
6) How are tenants screened?
In depth tenant screening should be a major part of a property manager's best practices. A common in-house screening procedure which involve a background check will be performed along with collected references from previous landlords to ensure good quality tenants.
7) How is the rent amount decided?
Decisions regarding the rent amount should be based on proper comparative market analysis that compares your property to similar listings in the area of your property. Keep in mind that the key selling points of your property will also help determine the rent amount at a maximum reasonable level.
8) Who will handle the maintenance of my property?
A good property manager will handle all repair requests 24 hours a day, 7 days a week and will contract with pre-screened, licensed vendors to ensure proper maintenance of your property.
9) How will I receive rent payment each month?
The monthly rent cycle will be closed on an agreed day of each month. Tell your team member what day of the month works best for you.
10. What is the cancellation policy like?
Speak to your property manager about the important cancellation procedure and conditions for ending the management contract. The procedure and conditions should make you feel comfortable and should be treated fairly for all parties involved.