Cost Effective Property Management

Maximizing Revenues

Las Vegas Property Managers are hired by landlords and investors to produce results and relieve the property owner of many of the onerous details involved in rental property ownership. The expected obligations undertaken by the property management company – in accordance with the contracted agreement with the property owner -could be any or all of the following:

  • Marketing the property to attract tenants
  • Screening prospective tenants
  • Maintaining low tenant turnover
  • Rent collection
  • Evictions
  • Maintaining curb appeal
  • Timely handling of tenant disputes and dissatisfactions
  • Prompt attention to emergencies
  • Request and analyze competitive bids from contractors and landscapers
  • Maximize income
  • Implement effective cost control procedures

The property management company’s expertise in analyzing bids and choosing a contractor ideally illustrates the importance and value of their services to the landlord.

For example, the experienced Las Vegas Property Manager –after careful evaluation- does not always choose a contractor solely on the basis of that company’s low bid. In fact, the property manager does not necessarily make the final decision to award the contract based upon the lowest bidder.

What the property manager is looking for is a competitive bid from the company with the best reputation for excellence of work, and strict adherence to completion schedules.

The property manager knows that the contractor with the expertise, manpower and reputation for reliability will do the job satisfactorily the first time, and in the long run would prove to be a more cost effective choice than a contractor of lesser reputation, who may in fact be the lowest bidder.

Emergency work of any kind is time-sensitive, and the property manager’s choice of contractor must be the one with a proven track record of handling immediate repairs promptly. Once again, the contractor may not necessarily be the least costly choice, but the proper choice.

The effective property manager understands that, within reason, there will be an unavoidable cost overrun from time to time, but as a rule will pay strict attention to operating within a specified budget.

Additionally, the innovative property manager and landlord will seek other, non-rent sources of revenue to increase the property’s overall profitability. Laundry facilities are an important amenity that is not only a much-used convenience for tenants, but a revenue source as well.

Vending machines on the property are appreciated by the tenants, and serve as another example of non-rent revenues that can be generated.

A laundry machine contractor can be engaged to install, maintain and repair washers and dryers and collect revenues. A vending machine operator will keep the machines well stocked, will be responsible for maintenance and repair issues and collect revenues as well.

Laundry facilities and vending machines should be programmed to accept smart card technology as opposed to coin-operated machinery, which often tempts break-ins. Laundry room and vending machine areas should be well-lit in the evenings for the benefit and security of the tenants.

The skilled and competent property manager’s value to a landlord cannot be underestimated. The property manager’s capability to maintain and increase a rental property’s value and cash flow, as well as problem solving and tenant relation skills allow the property owner to devote valuable time to other matters and significantly contributes to the property owner’s ability to focus on additional real estate objectives and goals.

North American Realty of Nevada has the credentials, credibility and track record suitable for your needs, which is why we are an asset that will strongly contribute to your profitability and protect your investment.  Feel free to give us a call at 702.376.7379 to discuss our management services or complete our contact form.