The Las Vegas Investor as Landlord
Many investors who, in the recent past, have concentrated primarily on the buying and selling of Las Vegas single family home properties, have been forced –due to current market conditions- to reevaluate their investment strategies in order to protect their investments and maximize the profit potential of homes now in their possession.
Investors who have purchased single family homes intended for immediate resale are confronting a marketplace glutted with homes now selling at “bargain basement” prices. Why compete at this time?
Many persons who have been forced to relocate for one reason or another, particularly families, need a place to live and would prefer the roominess of a single family home as compared to an apartment.
Investors with Las Vegas single family homes who rather not expose their properties to the present “buyer’s market” now have the opportunity to rent these homes to eager tenants looking for a new place to call home.
Unless the investor/home owner has had hands on experience as a landlord – and particularly if several or more properties are involved- it’s best to contact a Las Vegas Property Management Company to take care of both the important and mundane details of renting and managing these properties.
If the investor has not already done so, the property management company will have the property or properties inspected for problems, and arrange to have the homes cosmetically upgraded before marketing these properties to prospective tenants.
Working with a property manager can prove not only cost effective, but beneficial in many other ways as well. Property owners working with a competent Las Vegas real estate management company, particularly those investors who live far from their investments, even in another state, will have the peace of mind of knowing that their investments are being well looked after, and that the management company will be handling the tenant screenings, rent collections, evictions, emergencies, etc., that would normally be nightmarishly difficult for the investor to handle on his/her own.
The rental market is undoubtedly increasing, unquestionably due to the fact that many people have been, and are being displaced due to foreclosure. Other renters have the means to purchase a home, but the tightening credit market has made it difficult for many buyers, even those with good, but less than perfect credit, to either be approved by a lender, or were quoted loans at an uncomfortably high rate of interest.
Certainly, that would be the reason many investors have decided to ride out the present market without jeopardizing cash flow by choosing to rent their properties for the time being, and when the market finally rebounds, over time the properties will have built positive equity.
North American Realty of Nevada is a property management company with a proven track record of success. We manage many properties, and we have the know-how, reliability and expertise you want in a property management team. Why not contact us today for a no-obligation consultation? We can be reached at 702-376-7379 or visit our website at www.PropertyManagementLasVegas.com for more information about our services.