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Category Archive : Property Management

Homes for Rent in Las Vegas

Many people in the Las Vegas Valley have lost their home due to foreclosure and have been forced into the rental market.  With the recent changes to FHA lending guidelines, homeowners whose homes were foreclosed on will not be able to purchase a home for 5 years.  So instead of buying a home in Las Vegas within the next few years, they will be forced to rent a home a little longer than they had thought.

Even though you might look at renting a home as a setback, if you look at it from a different aspect, it could actually be just what you needed.  Majority of the time, the rent that you are paying is much less than what your monthly mortgage payment was and you are no longer responsible for paying home owner association fees.  If you add the savings between the two, this extra money can help pay down some other debts that you may have or save the money for a future down payment on a home.

You also don’t have to worry about fixing items that break or are need of repair, just call the property management firm that is representing the homeowner and they will handle it.

If you are in the market for a rental home, feel free to contact us and we can assist you in finding the right rental home in Las Vegas for you!  We can be reached at 702.376.0088.

Selecting a Las Vegas Property Management Firm

It’s very important that you do your homework when selecting a Las Vegas Property Management Firm to manage your investment property.  Your property manager is responsible for maximizing your cash flow on income producing properties, minimizing vacancies, maintenance, proper tenant screening and so much more!

Here area few questions you should ask a prospective Property Manager to help assist you in choosing a Las Vegas Property Management Firm:

  • How long have you been in business?
  • Are you familiar with the landlord/tenant laws in Nevada?
  • How will we communicate?
  • How will you market my home?
  • How do you qualify a tenant?
  • Do you provide accounting?
  • How do you handle the repairs and maintenance?
  • What are your fees?

The above questions should give you some insight about the property management company that can assist you in your decision on which Las Vegas Property Management Firm will best manage your Las Vegas Investment Property.

Before you make your decision, make sure you give us a call and we will gladly answer the above questions!  We can be reached at 702.376.7379.

Should You Sell Your Las Vegas Home or Rent It?

Las Vegas Home prices have dropped throughout 2008 and the trend could continue through the fall and winter. As more and more foreclosures hit the market, banks will continue to offer these homes at prices below market value in an effort to get them off of their books.  So with that in mind, you have to determine if it’s the right time for you to sell your Las Vegas Home.

If you determine the time is right to sell because of divorce, loss of job, job relocation or any other reason, it’s important to understand the Las Vegas Real Estate Market.

Unless you purchased your home before 2003 or put a substantial amount down, it’s unlikely your home has any equity and is most likely worth less than you owe.

This means, you have two options:

  1. You can pay the difference that you owe at close of escrow
  2. You can attempt to sell your home as a short sale

You have the option of selling your home and paying the difference at close of escrow but that amount could be substantial!  Not only do you have to factor in the difference between the offer amount and what you owe but also have to include real estate commissions, closing costs and taxes.

Selling your home as a short sale is not guaranteed!  A short sale is when your lender agrees to accept an offer for the purchase of your home at a price less than what is currently owed.  A short sale usually requires some type of hardship like divorce, loss of job or job transfer.  A short sale package has to be completed and submitted to your lender for approval and this can take anywhere from 3 weeks to 16 weeks!  Having an experienced Las Vegas Real Estate Agent that specializes in Las Vegas Short Sales is a must if you decide to sell your home as a short sale.

If you can afford to hold off on selling your Las Vegas Home in this market, I highly recommend it!  The Las Vegas Rental Market is doing very well and you have a greater chance of renting your home than selling.  Having an experienced Las Vegas Property Management firm representing you is important.  With so many homeowners losing their home to foreclosure, they are being forced into the rental market.  Completing a credit check is very important to determine the potential credit risk of your tenants.

Obviously your situation will play a key decision on whether you can afford to rent your Las Vegas Home instead of selling it in this real estate market.

Feel free to contact us at 702.376.0088 to discuss your situation.

Las Vegas Property Managment

With home prices declining all across the Las Vegas Valley, it makes it very difficult to sell your home, especially if you don’t have any equity.  Instead of selling your home, what about renting your home?  The Las Vegas Rental Market is doing very well right now with so many Las Vegas residents looking to rent due to the loss of their own home.  So instead of trying to sell your home in this down market, why not rent it out and just sit and wait until the Las Vegas Real Estate Market rebounds?

If you are going to rent out your home, I highly suggest using a Las Vegas Property Management Company to handle the whole process so all you have to do is deposit your check every month.  You could do it on your own but managing a rental takes a lot of work and you can expect to receive phone calls at all times of the day from a tenant with something that needs to be fixed.

If you are looking for a property manager, contact Tony Sena at 702.376.7379