These days, you'd be crazy not to want to save money. So when it comes to managing your rentals, there aren't many people who don't take the time to weigh the costs of hiring a Las Vegas property manager versus managing their own properties. The average property manager charges anywhere from 10%-13% the cost of your rent. So is it worth the cost? Definitely! Here are five ways property managers actually save you money!
1.) An Empty House Gathers No Cash
So you've got the perfect house or condo available for rent and you're looking to make a little supplemental cash. There's only one problem. You can't get a tenant in it! Most homeowners may have trouble nailing down a resident for their property, but an experienced Las Vegas property management company has all the marketing tools necessary to fill your place quickly. From MLS listings and specialty realty sites to proper signage and flyers; they're not only pros at marketing, but they also thoroughly screen potential tenants with credit, criminal, and background checks to better your chances of landing a primo tenant.
2.) Maximize Your Mileage
You may think you've got the property management trade down pact, but if you live miles away from your rental property or even out of state, a Las Vegas property manager can be your best friend! Why? Because between the fuel cost of commuting or the cost of plane tickets to shuttle back and forth between your home and your rental, a property manager can already be there keeping an eye on your place and keeping everything in great working order.
3.) Maintenance Money
Quick! A pipe just burst in your rental property, the air conditioner went out, and the dishwasher is dead. What do you do? And what's it going to cost you? If you just happen to be a licensed contractor with experience repairing HVAC systems and electrical problems, these emergencies may not faze you. But if you're like the rest of us, you have no clue how to take care of these issues yourself. Resolving this may take hours of tracking down contractors, scheduling appointments, and your cold hard cash to fix it. Or you can rely on your Las Vegas property management company to take care of it. They'll either have in-house contractors or trusted sub-contractors to take care of maintenance issues as quickly and as inexpensively as possible.
4.) Court Anyone?
No matter how extensive a background check is, it simply doesn't guarantee the perfect tenant. You never know if you'll have to deal with someone who trashes your property, constantly violates their lease or worse, won't pay their rent. Ridding your rental property of a bad occupant is frustrating and it's even more difficult if you have to evict them, change the locks, and take them to court. Having a competent Las Vegas property manager saves you the hassle of dealing with this uncomfortable situation. In addition, they'll also go to court for you should the need arise which saves you hundreds of dollars in court fees and hours of frustration.
5.) What's Your Time Worth?
Everyone knows that time equals money. So when you break down all the time a good Las Vegas property management company saves you by dealing with everything from finding a tenant for your property, taking care of maintenance issues, collecting rent, dealing with disputes, and much much more it's pretty obvious that you're getting a great deal. Why not give yourself and your wallet a break and let the professionals take care of the rest!