Property Management Tips – Learn “Rules” for Owning Henderson Nevada Rental Property

rules

By GoldenWest Management

HENDERSON – Thanks to the hot Real Estate market, and demand for rental property, you may be thinking about getting started with buying Rental Property in Henderson, Nevada.

Owning rental property is a good investment choice since the there is a high probability of positive cash flow and long term appreciation by the asset. Before you get started make sure you learn these simple rules for owning rental property.

#1 – Focus On Consistency

During the time that you own in Henderson, your primary goal should be to be finding quality, long term Tenants. Turnover and vacancy absolute kill your bottom line.

Focus on setting a  conservative price, screening for “A” rated Tenants, and encourage them stay long term and make upgrades (with permission) so that they feel “at home.” Let them paint, plant a small garden, and make the home nicer. When there is a benefit for you, chip in on the expense…trust me it will make the Tenant want to do more.

#2 – Always Create a Paper Trail

As your portfolio of Henderson Nevada Rental Property grows you may deal with a problem situation from time to time and that’s why it’s always best to document everything with your renters including: Taking pictures of the unit before they move in or out, making copies of documents, and always using email to “follow up” on phone conversations. Avoid the “he said, she said” at all costs…creating a “paper trail” will only protect you later on.

#3 – Check Your Renters References Thoroughly

Before renters move into your property it’s important to always check their references including: income verification and personal references because, it’s very common for a renter to use “fuzzy” references on their applications and checking the items on their applications thoroughly before the move in may save you the time, money and hassle of choosing the wrong renter.

Rent Your Henderson Nevada Rental Property

Let GoldenWest Management save you the time, money and hassle of renting your Henderson, Nevada Rental Property.

Contact us today at (702) 685-7696 to learn more about our property management services or click here to connect with us through our website.