When you invest in Las Vegas rental property, you need to keep your attention on the various things that impact your ROI. You want to limit vacancy and turnover. You want to study the local rental market and follow the trends in what tenants desire and require.
Communication also has an impact on maximizing your earnings and ROI. Specifically, communication with your Las Vegas property management company affects what you earn.
Here’s why it matters.
Understanding Your Investment Goals
Professional property managers should do more than collect rent, place tenants, and respond to maintenance. We see our role as something larger than that. We want to help you meet and exceed the goals you have for your rental property. Make sure you communicate your investment goals with your property manager. When we know what you’re hoping to accomplish, we can help you get there faster.
Make sure you have a clear sense of your own goals. Then, take advantage of all the tools, resources, and expertise your management company has. You may learn about investment opportunities you didn’t know about. You can lean on your management company to help you make decisions that will lead to higher earnings and lower expenses.
Communicate your expectations, your goals, and your specific leasing, management, and maintenance needs. It will contribute to a better and more successful rental experience for everyone.
Communication Reduces Vacancy
Keeping in touch with your property managers is especially important during the leasing process. You’re going to count on your management company to handle the advertising, pricing, showings, and screening. However, you’ll want to be kept informed as the process moves forward.
Providing the information and access your property managers need will get your property rented faster, allowing us to place a good tenant with minimal vacancy days. This directly impacts your short term rental income and your long term returns.
Communicating About Maintenance and Property Condition
Every good property manager will have a maintenance plan in place for routine repairs, unexpected maintenance, and preventative care. Even as a hands-off investor, you’ll need to engage with your management company to ensure costs are approved and invoices paid.
Our job is to protect the condition and value of your investment. That’s going to require ongoing maintenance. Make sure you understand how maintenance is handled and when you’ll need to provide support and input. This will reduce. The risk of unexpected repair bills.
Talking about Las Vegas Tenants
Working with a property management company in Las Vegas, you wont have to worry about communicating with tenants. That’s our job. However, we will need to communicate with you about any disputes or conflicts that may arise with your residents. If rent stops coming in, for example, we will want to discuss the measures we’re taking to get that rent collected. Eviction is rare, but if it becomes necessary to keep your property profitable, we will want to discuss the legal options with you.
We value communication and keep ourselves available and accessible to all our owners and tenants. We know that open and transparent communication helps you earn more with your Las Vegas rental property. To hear more about how we communicate, contact us at Strawberry Property Management Las Vegas.