Are you responsible for managing residential or commercial real estate in Las Vegas? Thinking about retaining a Las Vegas Property Management company? Consider the following points.
Does the company offer “full services”? Are they able to supply tradesmen to answer every need – plumbing, electric, landscape and so forth? Consider finding a company that hires and manages its own maintenance staff.
Does the company contracts out some functions? If they do, are references available for these subcontractors? You should shy away from a property management company constantly trolling through the yellow pages for subs.
Is the company insured and bonded? Can the company provide you with current certificates of insurance policies and bonds? Do they carry workmen’s compensation insurance, which is a requirement in the State of Nevada?
Does the company have references? Will the company provide you with contact names and numbers of current and former clients that you can contact directly?
Is the company accessible 24 x 7? Will your tenants be able to reach them any time, day or night, to report an emergency?
Is the property management function the primary portion of their business? You want your property management company to be dedicated to that function, not a sideline of a real estate company.
Does the property management company invoice you on a regular basis for work done? You should have a clear understanding of their standard charges, along with charges for extraordinary service, along with an understanding of terms of payment.
Most importantly, put yourself in the place of your tenants – whether commercial or residential. Would you be comfortable working with the property management company you are considering retaining. If you are, it’s probably a good fit and the start of a comfortable, professional relationship.