What most landlords don’t understand is that property management companies in Las Vegas are one of the greatest assets you can have. However, the PM you choose will be making necessary decisions for you, and you’ll have a little less control over the situation. Therefore, you must ensure that you choose the right company.
Every company will have costs associated with their abilities and options. However, you should shop around to find out what other PMs charge, what they provide and their quality of service. Getting an idea of what’s high, low and average will help you determine what you can afford and if that company is worth it.
Fees are usually a percentage of total monthly rent, but can be a flat rate. Some property management companies in Las Vegas will charge you a percentage of what the monthly rent would be if all units were full. If you’ve got a lot of vacancies, you may be paying more. However, they may be able to get those units filled faster than you can.
Make sure that you understand what their abilities are and how they can help. Will they collect rent and handle evictions? Will they use their expertise to market and promote your building? Do they do inspections and maintenance or is that something separate? Determine what you want from the company and what they are able and willing to provide to ensure if you two are a good match.
What You Want/What They Provide
It is perfectly acceptable to turn down a company because they don’t offer the services you want or won’t customize a plan to fit your budget or needs. Don’t feel obligated to use a particular company if they don’t seem like a good fit for you and your tenants.