What Can Las Vegas Landlords Do to Help Their Tenants?

With the Las Vegas economy shutdown since early March, landlords in Las Vegas are feeling the economic effects of coronavirus since it’s estimated that 30 to 40 percent of Vegas residents are unemployed and may be unable to pay their rents.

The big question is what can owners do to help their tenants while the lockdown persists and the economy is paused?

In this article, we will answer this question and provide tips for how owners can survive the coming months until people start going back to work, and businesses start getting back to normal.

Landlords Should Contact Their Lenders Immediately

One of the most constructive things that landlords in Las Vegas should do right now is to contact their lenders to see if they qualify for forbearance, if they will be unable to make their April mortgage payments.

If a landlord can make their April payments, they should still consider refinancing their existing loans anyway to take advantage of historically low interest rates, or applying for a home equity line of credit (HELOC) for one or more of their rental properties.

Refinancing, or applying for a HELOC, will enable landlords to potentially have access to cash that they can use for building cash reserves which will enable them to have a financial “buffer” to weather the coming months.

Communicate with Tenants

Since evictions are suspended in Nevada until the Governor’s recent emergency declaration is lifted, landlords in Las Vegas should do everything they can to work things out with their tenants.

Tenants should be encouraged to pay their landlord some money now towards their rent while agreeing to catch up and pay the remaining balance over up to 12 months.

Landlords should also encourage their tenants to utilize the programs that are available to them including unemployment. If the tenant is a taxpayer, they should be made aware of the pending Federal Stimulus payment that they will be receiving within the coming weeks as well.

Contact GoldenWest Management

To learn more about the Las Vegas Rental Market, or to speak with us about our property management services, contact us today by calling (866) 545-5303 or click here.

Las Vegas Property Management

Las Vegas Property Management

Are you searching for Las Vegas Property Management? If so, contact Goldenwest Management today by calling us at (702) 685-7696 or click here to connect with us online.

We specialize in full-service property management for the entire Las Vegas area and can take the heavy lifting off your shoulders so you no longer have to spend the time, money and hassle of managing your rental properties yourself.

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About Goldenwest Property Management Services

Besides offering you real service, and excellent support, Goldenwest Management also offers you the following Las Vegas Property Management Services:

  • Rental Analysis – Before renting your property we will do a comparable analysis of other rentals in Las Vegas and make sure to rent your single-family home, condo or townhome for what it’s worth.
  • Tenant Screening/Placement – We will take the time to do the necessary back, employment, credit and other checks so you can have confidence that only the most qualified tenant is living in your rental property.
  • Rent Collection – When rent is due you can count on Goldenwest Management to collect rent on time each month, saving you the time and hassle of having to chase down tenants and collect rent yourself.
  • Maintenance – If maintenance problems or issues arise at your rental property, you can count on our Las Vegas Property Management service to handle those maintenance issues so you will no longer have to handle repairing toilets, sinks, or the wide variety of other property management tasks you may have been doing for years. 

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Affordable Las Vegas Property Management

Las Vegas Property management will save you the time of managing your rental properties yourself so you can focus on growing your portfolio once again.

Best of all, our property management service is affordable too! Learn more about how we can simplify property management for you by calling us for a free quote at (702) 685-7696 or click here to connect with us online.

What Is Considered “Normal Wear and Tear” in Las Vegas Rental Property?

By Goldenwest Management

LAS VEGAS, NV. – If you’ve owned Las Vegas rental property for any length of time you know that the security deposit return can often be a headache. Some property owners will do everything they can to keep as much of the security deposit as possible citing “wear and tear” but, what exactly is “normal” wear and tear?

In this article, we will break down wear and tear so you will know how to address this issue with your tenant after they have moved out of your Las Vegas Rental Property.
Defining Wear And Tear

Thanks to uslegal.com we know that normal wear and tear can be defined as deterioration that’s unavoidable and has come from normal use in a rental property.

Nevada Landlord Tenant law (NRS 118A.110) 

NRS 118A.100 “Landlord” defined. … NRS 118A.110 “Normal wear” defined. “Normal wear” means that deterioration which occurs without negligence, carelessness or abuse of the premises, equipment or chattels by the tenant, a member of the tenant’s household or other person on the premises with the tenant’s consent.

When thinking about normal wear and tear some examples might include paint that is has chipped away from the walls, carpeting that needs cleaning or normal holes in the walls from tenants hanging pictures, shelves etc.

Nail holes (not load bearing screws); minor scrapes and scratches; minor chips in tile or wood; minor fraying or track patterns in a carpet.

Normal Wear And Tear vs. Abnormal Wear And Tear

Normal wear and tear, or unavoidable deterioration, is to be expected, especially when you consider that an average tenant will be renting from you for an average of 12 months.
Each state has a “calculator” to cover what percentage of damage for things such as painting and flooring a Tenant would be responsible after living at a property for a certain period of time (obviously the longer you live there, the less percentage you could feasibly be responsible). In addition contratary to popular belief, you can’t paint your whole house or change all your carpets (I know they won’t match perfectly) based off damage to a different section/area in the home.

Abnormal wear and tear can be anything from an obvious hole that your tenant kicked in the wall, broken windows, broken fixtures, oil stains on the carpets, cigarette burns, or broken window coverings.

Work With Your Tenant, Not Against Them

It’s obvious to clearly define what normal wear and tear are and if you’re serious about maintaining a great relationship with your tenant from start to finish you should take pictures of the rental property before they move in and afterwards so they are aware of the impact that they’ve left on your Las Vegas Rental Property.

What matters is proper documentation – We can’t work things out as landlord and tenants if we don’t have a solid foundation for what the condition of the property was like at the time of move-in. Landlord – when was the last time the home was painted? Flooring was changed? Did both Tenant and landlord take photos or at least fill out a MIWT form at the beginning of lease? Understanding the definition of “normal wear and tear” and then applying this to a Move-out inspection that has already documented a significant (or not) change to the home from move-in is what is necessary for both parties to reach common ground.

Get Property Management for Your Las Vegas Rental Property

For professional property management for your Las Vegas Rental Property contact Goldenwest Management today by calling us at (702) 685-7696 or click here to connect with us online.

 

Investment Property Solutions
AZ LIC# CO583886000
CA LIC# 071791904
NV LIC# B1000408

Las Vegas Apartments – City Ranks High with Most Apartment Space in USA

By Goldenwest Management

LAS VEGAS – Thanks to a recent article from Forbes.com and Rent Jungle we know that Las Vegas Apartments are considerted to be the most spacious in the United States for what renters here are paying per square foot. 

The study was limited to Class A properties, or the 20% of properties with the highest rents in a market. The value was ranked by the average rent per square foot in each metro area. And, because not all Class A properties are created equal – a top-of-the-line building in New York is a lot different in terms of square footage and price than one in, for example, Memphis – we separated the findings into five regions.

Source – Forbes

Right now Las Vegs apartments are currently averaging $1.07 per square foot or $1,062 per square feet and this makes apartments in Las Vegas seem huge in comparison to other cities including New York where the latest trend in apartments is “micro apartments” because many units there are currently priced at $2,000 per month for apartments that have roughly 200 to 500 square feet of space.

Average Las Vegas Rent

As of March 2016 the average Las Vegas apartment is renting for $1,063 per month for a two bedroom apartment while a one bedroom apartment in Las Vegas is renting for $883 per month.

Just outside of Las Vegas you can find apartments that are renting for $1,067 per month.

Rents in Las Vegas should remain stable for the next few months but they are expected to increase in the coming months as the weather warms up and more people relocate to Las Vegas from other states including California.

How to Find Las Vegas Apartments 

Are you planning on searching for an apartment in Las Vegas? If so, one of the best things you can do is hire a Las Vegas Property Management company to show you apartments, homes, condos and town homes that match your budget.

To view properties for rent in Las Vegas contact Goldenwest Management today by calling us at (702) 685-7696 or click here to connect with us through our website.

 

 

Investment Property Solutions
AZ LIC# CO583886000
CA LIC# 071791904
NV LIC# B1000408

Las Vegas Rental Property News – Are You Ready For New Anti-Discrimination Laws In 2016?

Did you know that the Federal Government’s Department of Housing and Urban Development announced in 2015 that they were filing separate charges against property managers, Las Vegas Rental Property Owners and landlords across the United States for different types of discrimination?

Although no landlord wants to or attempts to commit unlawful discrimination, the reality is that in this day and age it’s a lot easier than any landlord thinks to get caught up in a discrimination lawsuit even if they thought they were engaging in innocent behavior.

Sadly, many landlords and property managers can get caught up in a discrimination lawsuit, especially if they have the best of intentions but during the screening process accidentally asked a misguided or innocent question, made a poor remark, or did something that prompted an applicant to file a discrimination lawsuit or complaint against them.

Since the rental market is constantly changing along with antidiscrimination laws, in this post we will cover some of the most common mistakes that property managers and landlords make across United States that can commonly lead to discrimination complaints or charges against a property owner.

Asking About an Applicants Diagnoses, Medical Status or Mental Health

As a landlord, Las Vegas Rental Property Owner or real estate investo, one of the most common mistakes that you should never make is to ask an applicant about a recent medical diagnosis, disorder or current medical status.

Last year a property owner in the state of Minnesota made a mistake of asking a prospective applicant for one of their properties about their mental health status when the owner was alerted to the fact that the applicant potentially had a bipolar disorder.

The results of this innocent mistake on the landlord’s part was that HUD prosecutors ultimately filed a violation against the owner and assessed a civil penalty totaling $16,000.

Using “Discriminatory” Language in Advertising

One of the most common mistakes that landlords make when marketing their properties is using discriminatory language when advertising their properties on websites like Craigslist or Zillow. An example of this occurred recently in the city of Philadelphia when a property owner listed their rental on Craigslist but stipulated that the rental was “not good for young children”.

After officials found out about the use of discriminatory language they found the property owner to be in violation of Section 3604(c) and 24 C.F.R. Sections 100.75(a) and (c)1, and HUD also filed financial damages against the owner as well.

Get Property Management For Your Las Vegas Rental Property 

To one more about the latest anti-discriminatory laws that landlords facing the United States, or to speak with us about our property maintenance services for your rental property, contact Goldenwest management corporate grade by calling us at (702) 685-7696 or click here to connect with us online.

 

Investment Property Solutions
AZ LIC# CO583886000
CA LIC# 071791904
NV LIC# B1000408

Evictions Process in Nevada – Simple Tips for Understanding the Evictions Process

By Goldenwest Management

Las Vegas, NEVADA – Are you thinking about the Evictions Process in Clark County, Nevada for one or more of your Las Vegas rental properties?

The eviction process is one of the most complicated aspects of owning rental property, and the most common reason why property owners encounter difficulties with evictions is because they lack a real understanding of the reasons to evict a tenant and how to start the process.

Disclaimer – Goldenwest Management is not an eviction company, or attorney, we are a professional property management company with experience in managing properties in Arizona, Nevada and California.

Here are our tips on the eviction process and how you should approach eviction in the future.

What Are The Reasons To Evict A Tenant?

Some of the reasons to evict a tenant include the following:

  • Tenants not paying rent – Sadly, this is one of the most common problems that landlords face. Unfortunately, Landlords shoot themselves in the foot right away because they fail to inforce the rules for rent payment or they allow tenants to “slide” and pay their rent when it’s convenient for them to pay it. This includes accepting partial payments, paying without penalty even after the lease calls for fines, and waiting too long to start the filing process.
  • Using the rental property illegally – This includes using drugs on the property or distributing illegal drugs.
  • Failure to follow the lease rules and regulations – Often times, Landlords take this term to mean they can evict the Tenant for any slight break in the rules. This is not true…violating the rules must be to the point to cause potentially irreparable damage to the property as to include health and safety violations for the home and or the neighbors.

The Evictions Process

  1. No earlier than the 5th calendar day of the month, serve a (5) day notice to pay or quit. Must be served at the property (by a process server) or sent via proof of mail.
  2. After (5) business days, file the eviction paperwork in the appropriate Clark county court.
  3. Serve your tenant with the court filed eviction summons. Have this done by a process server.
  4. A court date is then provided. The court will notify you via mail, but the best way to follow your case is to follow your case number online at the court website.
  5. Show up with the lease and all records of appropriate service of the notices. Make sure you bring and correspondence from the Tenant (and or receipts for repairs) as often times Tenants will get into court and lob “grenades” that things are not fixed, etc…
  6. If the judge buys the basic premise that the Tenant should have paid rent and didn’t (he will give them an opportunity to pay at that time) then the eviction will be granted.
  7. If the Tenant is a no show the court will automatically grant the eviction.
  8. After a few business days (depending on the court order it could be as much as a two weeks around the holidays) you can contact the constable to have them serve a 24hr notice.
  9. After the 24hr notice, the constable will give you a time to meet at the property and they will remove the Tenant.
  10. You will be required to have a locksmith onsite to change the locks…if you don’t have a locksmith present, they will NOT grant the lockout.

What about late fees, court costs, and lost rent

The law reads one way, but based solely on experience, the judge will rarely grant you any extra money outside the rent and maybe the late fees (which if the late fees are exorbitant, the judge may waive those as well).

Obviously if you have to evict the Tenant for payment, you will then have to send the Tenant an itemized security deposit return, and can include lost rent, the fees awarded by the court, and the cost of the locksmith. Any property damage can also be included, but make sure you have solid documentation.

You can then deduct the total costs of monetary damages from the security deposit you have on file, and send the Tenant a “balance due letter.”

Collecting that balance due is a whole another matter. Consult an attorney or collection agency about the best ways to go after a former Tenant. Often times, you will hear, the juice is not worth the squeeze, but many times simply obtaining and filing a judgment is enough due to the fact that years down the line, the Tenant may want to make a purchase or clean up their credit (or rent another home) and find that they can’t do so until they pay off outstanding judgments.

This is a general process that GWM follows in Las Vegas every month when filing evictions. There are a million different scenarios where we may tweak the process to meet the specific situation. Consult an attorney for specific legal questions.

Learn More about how GWM can help you with problem Tenants.

For more information about our eviction process or property management services, contact Golden west Management, Inc. today by CLICKING HERE or calling us at (702) 685-7696.

 

GoldenWest Management
Investment Property Solutions
CA LIC# 071791904

Las Vegas, Nevada Rental Property – 3 Tips For Increasing The Value Of Your Single Family Home

By Jayson Yoss

Las Vegas, Nevada – So you want to renovate your Las Vegas, Nevada Rental Property but aren’t sure what renovations you should make to your single family home.

There’s no denying that the Real Estate market is changing, and the renovations property owners were making to their homes last year are not always the same as those in demand this year. In Today’s post we will share with you 3 tips you can use to increase the value of your single family home.

Tip #1 – Make Your Home More Energy Efficient

 In 2015 most renters are not just searching for a home which has 3 bedrooms, 2 bathrooms and plenty of square feet, they are searching for rental homes which are energy efficient and environmentally friendly as well.

You should consider adding energy efficient windows, low flow water faucets and one or more dual flush water closets to your home because, this will help your rental property to be more energy efficient, while helping your renter to save money as they lower their carbon footprint at the same time.

You also have to point out these cost saving features to your Tenant. If you show them that they are saving $80 per month in their electric bill, they want to choose your home over a comparable property down the street.

#2 – Kitchens and Bathrooms – Your money maker

We all know that most people spend a lot of time in their kitchens for everything besides just cooking this is why you should renovate the kitchen for your Vegas Home. But not everyone wants to spend $25,000 on upgrades so here are some good pointers:

  • Back splash – you may not change the counter, but a nice back splash will make your kitchen “pop.”
  • Upgrade the lighting – recessed lights, drop lights, but whatever you do get rid of those old fluorescent light fixtures. You can even get bold and go with contrasting color pendant lights.
  • Accessorize – Add new knobs, handles, hinges wherever possible. For the bathroom, picture frame mirrors are the new trend and give you multiple options for later changes or upgrades.

#3 – Finish the Garage

Unlike in years past when the typical search criteria for a Las Vegas rental property didn’t mention anything garages except how many spaces, now you need to set your home apart.

Get rid of those unfinished walls; add a small set of cabinets, and if epoxy your garage floor. It is a cost effective way to set your home apart and make the renter who “loves her car” or “needs a space for tools and storage” to know that your house is “the one.”

Get More Las Vegas, Nevada Rental Property Tips Here

Speak with our team of experienced property managers about renting your Las Vegas Nevada Rental property, contact Goldenwest Management today by clicking here or calling us at (702) 685-7696.

 

Investment Property Solutions
AZ LIC# CO583886000
CA LIC# 071791904
NV LIC# B1000408