Choosing a Las Vegas property management company to lease, maintain, and manage your investments can seem a bit overwhelming. There are a lot of choices, and how do you know who you can trust?
We advise you to take your time, do the research that’s required, and conduct an in-depth interview with several companies so you understand how they work and what type of services and value you can expect.
Here are five things in particular to look for when you’re hiring a property management company in Las Vegas.
1. Las Vegas Property Management Experience
You want a company that has experience. This means years of experience as well as experience that matches the unique needs of your rental properties. Do they specialize in single-family homes? That may not work for an investor with multi-family apartment buildings and units. Do they invest themselves? This could provide you with some personal experience as well as professional experience.
Talk to any property manager you’re thinking about hiring and explore their success stories as well as their challenges. Ask them about specific situations that they’ve managed for clients. Talk about solutions and problem solving and what they’ve learned from past mistakes. Find out how they stay current in the industry and with all the changing laws. This will give you a good idea of what their experience really entails.
2. Reputation and Customer Satisfaction
Check out online reviews. This is one of the best ways to get to know more about a company you’re considering. A reputable company should have at least a fair number of reviews from owners and renters. Look for our favorable reviews on Google, BBB, Yelp, and Thumbtack.
3. Investment in Property Management Technology
Property management technology helps us to work faster, smarter, and more efficiently. You don’t want to waste your time with a management company that’s going to send you paper rent checks. Look for a company that can provide self-showing technology to get your property rented faster. Look for an online portal and good marketing and accounting software. Talk about how technology helps them automate certain functions so they have more time to focus on relationships.
4. Look for Responsive Communication
Size matters, especially when it comes to communication. When you’re looking for the right management team, make sure they have the capacity to serve you and your properties as well as their other clients. A lot of small businesses are easily overwhelmed, and it may take you weeks to get a phone call or an email returned. Some of the larger companies might not give you the customized property management that you feel you need.
Communication should be transparent. Your property managers should respond as quickly as possible, and they should be available and accessible to you and your tenants.
5. Transparent Pricing
It’s important that you know what professional property management costs, and you’ll want to ask about fees. While a good property manager will be competitive when it comes to costs, you want to make sure they’re not cutting corners or charging you extra for things that should be included. Talk about what’s included in your leasing and management fees and what you’ll have to pay for separately. You don’t want any surprises in your first statement. Make sure you know exactly what you’re paying for.
We’d be happy to tell you more about how we manage Las Vegas rental property. Contact our team at Strawberry Realty – Property Management.