Landlord vs. Tenant Responsibilities in Las Vegas – Who Pays for What?

Landlord vs. Tenant Responsibilities in Las Vegas – Who Pays for What? - Article Banner

You own the home but your tenant is living in it. 

So, who is responsible for things like maintenance, utilities, pest control, and air filters?

That will depend on your Las Vegas lease agreement, which should stipulate in detail who is responsible for what. 

There are certain obvious standards. Most tenants understand they’re responsible for paying the rent. Landlords in Las Vegas know it’s their job to provide a safe, habitable, well-maintained home. 

The uncertainty usually rests in minor maintenance, cleaning, and repairs. Maintaining a rental property requires a transparent and trusting partnership between owners, tenants, and vendors. You need to be clear about what’s expected from your tenants and there has to be some documented division of responsibilities. 

If you’re working with a Las Vegas property management company, there’s not much for you to worry about. Your property managers will take care of anything that you as an owner would normally be responsible for. You’ll have to pay the bills, but you won’t be the one searching for plumbers and holding tenants accountable. 

However, if you’re an independent landlord wondering how to approach the maintenance and repairs needed at your property, you’ll need to know what your responsibilities are and what you can reasonably expect from your tenants. 

Let’s go back to the importance of a strong lease agreement. You need to have one that’s legally enforceable and clear. You also need a reliable network of licensed and insured vendor and contractors. Finally, you’ll really need a willingness to talk openly and transparently to your tenants so they’re clear on their own responsibilities and your expectations.

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Renovations to Maximize Your Rental Income in Las Vegas

Renovations to Maximize Your Rental Income in Las Vegas - Article Banner

Renovations don’t have to be scary and expensive. When you think about renovating a Las Vegas property, you might immediately think about gutting a kitchen, adding a new story, or completely remodeling a bedroom. 

But, it doesn’t have to be all that. 

Renovations can be cost-effective, and when we’re talking about renovating a Las Vegas rental property, they can help you earn more in rent. They can also help you attract high quality tenants quickly, which also affects your earnings. 

Attractive and well-maintained homes earn the highest rents. You have to make sure your property can compete. 

When it comes to setting your rental price, there are many things over which you have no control. You cannot control the strength of the Las Vegas rental market. You cannot control the amount of competition that happens to exist when you’re looking for tenants and setting rents. Unless you’re about to buy a new investment property, you cannot control the location of your property and whether it’s in a desirable neighborhood. 

One thing you can control, however, is property condition. 

Making rental property renovations will maximize what you earn. But, you have to make the right renovations and you have to use reliable vendors who aren’t going to go over-budget or delay the project.  

Let’s talk about why these renovations matter. Then, we’ll share some of our favorite upgrades and updates that are sure to bring in more rent and better residents.

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Advice for Out-of-State Investors with Las Vegas Properties

Advice for Out-of-State Investors with Las Vegas Properties - article banner

Las Vegas has always been a lucrative rental market for real estate investors, even those who live outside of the area. If you’re thinking about purchasing investment property in Las Vegas, you’re making a wise decision. 

However, if you’re not living in the area yourself, investing here can feel like a bit of a risk. When you live out-of-state, it’s hard to know whether your tenants are treating the property well or if it’s in good condition. You might worry about unreported maintenance or lease violations.

Being an out-of-state investor makes professional Las Vegas property management critical. You’ll want to work with a management company that’s local and experienced. Here’s our advice: find someone who has spent years working with owners who live out of the state or even out of the country. Make sure they have great technology. Before you hire them, talk about how they’re going to protect your property.

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