In the United States, individual landlords own nearly 14.3 million of the country's rental properties. Many of these landlords keep full-time jobs and have other responsibilities to take care of in addition to their property investments.
Although many property investors prefer to take a hands-on approach to their investment, doing so isn't always the best choice. There comes a time when you need to consider hiring a property manager.
Here are the top 5 signs that you need a landlord rescue from a property management company in Las Vegas, NV.
1. You Live Out of State
If you live far away from your Las Vegas rental property, then it can be difficult to manage it properly. It can be tough to take care of an out-of-state investment and be available in case there are maintenance problems or issues with tenants. It can be costly and time-consuming to travel back and forth.
Hiring a property management company can help. They'll be able to take care of your property and allow you to take a more hands-off approach.
2. Vacancies Are Common
If your property is vacant often or for extended periods, then you may need to get help from a property management company. A property manager can help you market your property and screen tenants.
Both of these tasks can be difficult to do on your own. You may experience high vacancies if you don't know how to handle them.
Property managers can help you find and screen high-quality tenants so that you don't lose money on a vacant property.
3. You're Missing Knowledge
There are many gaps in knowledge that you may have when it comes to property management. From communicating with tenants well to fulfilling rental property maintenance requests, there's plenty to keep up with.
If you feel like there are some big gaps in your knowledge, you may want to hire a property manager to help with certain landlord duties.
4. You're Too Busy
If you work a full-time job, have other properties to manage, or if you simply want to spend more time with your family, you may not have the time needed to devote to your property.
Hiring property managers can help. Property managers can free up your time and energy so that you can focus on other important things in your life.
5. Legal Issues Are Difficult for You
Meeting local and federal regulations, creating lease agreements, and navigating the legalities of managing a real estate investment isn't easy. There are a lot of things to think about and a lot of finer details to work out.
A property manager can help navigate legal challenges and ensure that you're meeting all of the important requirements you have as a landlord.
Ready for a Landlord Rescue?
If you've noticed any of the signs listed above, you may need a quick landlord rescue. Whether you're limited by time or distance or you need to fill some gaps in your knowledge, hiring a property manager can be well worth it.
Avalon Realty & Oaktree Management, Inc. has been serving Las Vegas property owners and investors since 1993. Our experienced team of real estate professionals is dedicated to providing exceptional service and meeting all of your property management needs.
Are you ready to hire a property manager? Contact us now to learn more about our services.
Bonnie is the visionary that has driven the company and culture of Avalon since 1993. Her passion is improving procedures and practices; incorporating technology and value added services for both our clients and tenants.