We hear this all the time: What’s so hard about managing my own rental property?
You’ve probably been caring for your own residence for years — making repairs, landscaping, and installing upgrades. It’s been easy enough — so, why can’t you handle it in your rental as well?
As professional property managers in Las Vegas we tell owners all the time that, yes, they can manage their rental — but should they?
Choosing to manage your own rental property presents a challenge: You own the home, but you may not be knowledgeable on how to manage it, especially when it comes to the seemingly endless marketing, legal and clerical tasks involved.
Issues to Consider
There are many obscure aspects of property management. For instance, you need to file local and federal taxes for your rental property — and you need to up to speed on Nevada’s landlord-tenant laws.
In addition, you need to be a marketing expert if you’re going to find great tenants. And when you do find tenants, you’ll need the ability to do credit and criminal background checks on the applicants.
You know those minor repairs you’re used to doing at home in your spare time? When you’re a property owner they’ll need to be done immediately. But are you always available?
Your rental property must always look its best because the next tenants will be looking for a nice place to call home. Do you have the time to keep the property looking updated?
Finally, are you ready to handle deadbeat tenants who don’t pay rent?
With so many things to keep on top of you can end up spending more time and money than you planned.
Why Take the Risk?
In the complicated industry of rental management, trying to manage the property yourself could expose you to expensive liability, not to mention an inefficient use of your time and resources.
Hiring professional property managers here at SMART will give you the experts you need to handle the details, and more.
Give us a call today at (702) 919-7981 for more information, and let us give you back your time and peace of mind.