An investor with multiple Las Vegas real estate rental properties certainly knows that in order to enhance property values and increase cash flow, effective management is the only method of maximizing full investment potential.
In addition to hands-on management techniques the skilled property manager utilizes the most up-to-date software programs designed to provide important informational data and increase management effectiveness.
It should go without saying that accurate record keeping is essential to the success of any business, and is a vital necessity to keep records accurate and current in order to minimize possible tax consequences and to prove tax deductible expenses.
Certain real estate related software programs can be invaluable property analysis tools, and the investor’s additional input from his/her property manager as to neighborhood information will give the investor the clearest picture possible of the pros and cons of a property’s investment worthiness.
The property managers valuable input due to knowledge of the neighborhoods with which he/she is familiar, can add input that software programs are unable to “see” such as location.
Location has a big impact on the kind of renter the property will, or already has attracted as well as potential revenues. Since software has no way of evaluating location, educated human input is necessary. The property manager can evaluate market trends as well, important information the investor needs in regard to estimating future appreciation.
Inputting such details about a property such as purchase price, rental income, vacancy rate, property taxes, management fees, maintenance costs, homeowners association fees, and pertinent mortgage data, real estate evaluation software can generate numeric and graphical input which can provide valuable data relative to the overall worthiness of an investment.
Once the property is acquired, the property manager utilizes his skills and software programs to efficiently and effectively manage the property to its full potential.
The astute property manager knows that by maximizing occupancy through effective advertising and avoiding problem renters by careful tenant screening cash-flow short falls due to poor occupancy can be minimized.
Advertising exposure will bring potential renters to the site, but maintaining the property’s appearance (curb appeal) and knowing how to calculate rental fees that will be competitive with area rents are among the reasons why the property manager can prove to be an invaluable asset to the investor.
One of the most important details to discuss when choosing a property management company to oversee your investments is how timely and accurate will the reports on all aspects of your property be?
Shelter Realty is one of the most solid property management companies in Las Vegas, and as such we have the skills and resources to manage your real estate holdings to their full potential; which includes complete and accurate report filings, timely rent collection and deposits, an efficient and time-proven tenant screening system, immediate response to emergencies, and a thorough knowledge of all of the regulatory statutes that govern rental properties.