Communication Is The Key To Success
In marketing a landlord’s Las Vegas Residential Property, the property manager must keep in perspective the balance between the property owner’s requirements and a tenants needs.
For example, a renter searching for a Las Vegas Rental Property may want answers to the following questions:
- Is the landlord/property manager responsive to tenant concerns?
- Is the property kept in good repair?
- Are repairs done in a timely manner?
- Is the landlord/property manager accessible when needed?
- Do other tenants consider the landlord/property manager fair and reasonable in business practices and overall tenant relationships?
It is important that both the property owner and the property manager understand that attending properly and promptly to the above protects the landlord’s investment and simultaneously minimizes tenant turnover.
A thorough knowledge of the local rental market and strategies to compete in that market is one of the most important assets a property manager can offer a landlord.
Knowing the competing rental market is a most vital factor in determining what rents to charge per unit and whether to maintain or raise existing rents.
The property manager and the landlord both must realize that operational costs are not the primary factor in deciding rent levels. The marketplace is the deciding factor, since it is obvious that if a tenant is to choose between two rental properties with similar amenities, the property with the lower rental cost will be the determining factor.
The property management company should have the resources, capabilities and advertising expertise that will afford the widest and most effective exposure to the landlord’s property or properties, and exposure of the property to the resources that are used by Realtors and prospective tenants to find rental properties assures the landlord that his appointed agent is using the most effective methods of advertising.
Additionally, the landlord may not have the time or inclination to show his properties to interested parties, and may, instead, request the property manager to do so.
The property manager given the responsibility of showing the landlord’s rental properties should additionally explain the lease obligations and answer all questions pertaining to the lease and any other questions/concerns the prospective applicant may have.
The more comfortable a prospective tenant feels with the renting agent, and the agent’s answers to any concerns, the more likely a lease will be signed.
Furthermore, a property management company can provide the many services necessary to the proper upkeep and maintenance of the premises. In addition to finding good tenants, a property management company has the capabilities to navigate legalities, negotiate tenant/landlord disputes, collect rents and deposits, and relieve the landlord of countless other tasks and details.
Shelter Realty 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.