What’s Happening with The Las Vegas Rental Market?

By GoldenWest Management

Spring is here and with the weather quickly warming up across the country it’s a great time to take a look at what’s happening in the Las Vegas Rental Market.

Average Rent

As of April 2018, renters are paying an average rent of $992 for an apartment in the Las Vegas area. (Source – Rent Jungle)

The average rent in Las Vegas has increased by 6/15% in the last year and it’s currently holding steady.

For a one-bedroom apartment in Vegas, you can expect to pay $844 per month while a two-bedroom apartment is going to cost you about $1008 per month.

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Cost of Living In Las Vegas

One of the great things about living in Las Vegas is that it still remains one of the most affordable cities to live in the United States.

It costs about 30% less living in Las Vegas compared to other higher priced cities like New York or the San Francisco Bay Area. (Source – Numbeo)

Las Vegas Jobs

The average age of a Las Vegas area resident is 37 and even though tourism and hospitality are two of the biggest industries in the area, Las Vegas is seeing more technology companies relocating here.

Major companies from Dell to startups like AppBus all have a presence in Las Vegas because more data centers have been built here in recent years and Vegas continues to be a top destination for technology conferences in the United States.

Is Las Vegas a Safe City?

Like any renter, you may be wondering if Las Vegas is a safe city? The answer to this question is yes.

There is an increased police “presence” in Vegas due to the city being a major entertainment destination so you can expect to enjoy a safe environment regardless if you’re at home, work or enjoying a night out.

Search for Rentals In Las Vegas

To search for rentals in Las Vegas contact GoldenWest Management today by calling us at (866) 545-5303 or click here to connect with us online

For Rent in Las Vegas – 6 Online Listing Mistakes You Should Avoid

 

LAS VEGAS, NV. – For some people, one of the hardest things to do is to promote their home, apartment, condo or town home for rent in Las Vegas on the Internet because they are good with many things but listing a property isn’t something they excel at.

If you find yourself if a similar situation you’re not alone, this article will provide you with listing mistakes you want to avoid so that you will be prepared when it comes time to list your rental.

Mistake #1 – Photos that use Poor Lighting

Yes, it’s true, using poor lighting is actually one of the top mistakes that most landlords and property owners make when promoting their listings online. When a prospective renter sees a rental that has terrible photos they don’t take the time to look at your home in depth; they will continue searching for another listing rather than inquiring about that rental.

To avoid this problem when photographing your rental property, hire a professional. If you don’t want to spend the month then remember to use plenty of lighting indoors and keep the curtains open on cloudy days so that it’s easy for someone to see all of the features that your rental offers them when they view the listing online.

Mistake #2 – Not Staging the Rental for Photos

The key to success with promoting a home for rent in Las Vegas online is actually staging the rental so that when you promote it the rental will look lived in. To do this you should either rent furniture to stage the property for the day or ask your current tenant if you can take pictures of the inside of the rental property before they move out. Taking photos of your home vacant isn’t the end of the world, but the pictures don’t “pop” as well. But you have to avoid background “trash.” Clutter, boxes, misplaced items that just make the pictures look tacky.

Mistake #3 – Taking Pictures With Your Phone

Although you may have a new phone, most don’t take great photos. More importantly, you may not know how to manipulate the phone to at least enhance the photos. If you or a friend has a nice digital camera, this can make all the difference. Again, hiring a professional for $125 – $200 is great.

Promote Your Property for Rent in Las Vegas

With GoldenWest, professional photos, and even aerial photography is all included! We hire the right people to make sure the best angles and money shots are achieved. Get started with promoting your property for rent in Las Vegas by calling Goldenwest Management today at (702) 685-7696 or click here.

Las Vegas Rental Property – 4 Tips to Guarantee a Lease Renewal

helpful-tips

Have you struggled with lease renewals in the past at your Las Vegas Rental Property? If so, you’re not alone. Lease renewals can be a big headache for some owners but thankfully it doesn’t have to be if you follow the simple tips in this article.

#1 – Offer a Discount off One Month’s rent

One of the best ways to capture the attention of tenants at your Las Vegas Rental Property is to offer them a rent discount for one month if you own a single family home.

If you own an apartment building that also has parking or an on-site gym you should also consider offering your tenants a discount on fees that you charge to use those facilities as well.

#2 – Upgrade Appliances in the Rental

Another great way to guarantee lease renewals at your Las Vegas Rental Property is to upgrade the appliances because this will show your tenants that you care about them and every renter loves having new appliances in their rental property.

Las Vegas Rental Property

#3 – Redo the Paint and Flooring in the Rental

Besides upgrading the appliances in the rental property you should also consider upgrading the painting and flooring as well since these areas can wear down easily over time and offering to repaint the walls inside your rental property or installing new flooring will really help your tenants feel more at home than ever before.

#4 – Offer Them Gift Cards from Local Businesses

Since every tenant loves to signs of appreciation from their landlord you should also consider offering your tenants gift cards from local businesses and grocery stores because in this economy a gift card can save anyone a nice chunk of money and make their lifes a little easier too.

Get Property Management for your Las Vegas Rental Property

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

Las Vegas Property Management Tips

 

2016 is turning out to be another great year for owning rental property in Las Vegas and elsewhere across the United States.

If you are searching for more information on how to manage your rental properties more efficiently this post will offer you several tips you can use streamline your portfolio of income producing rental properties.

Tip #1 – Stay Committed To Learning

The real “secret” to owning Las Vegas rental property doesn’t just come from buying the property and renting it out, you must be committed to lifelong learning by reading books, connecting with other investors and purchasing courses so you can learn from and use to grow your portfolio of rental properties and keep long term tenants.

#2 – Create Your Own Policies, Then Stick with Them

This is by far one of the most difficult things for some owners to do because many owners will create policies for their Las Vegas rental properties then change them and ultimately start managing their rentals on the fly.

For example: you should create firm policies for when rent is due and how you expect to be paid then if a tenant pays late or they try to pay their rent by an unapproved payment method you should stick with your policy and tell them that it your policies apply to all tenants.

#3 – Produce a High Quality Product

It doesn’t matter if your rental property is in Las Vegas or elsewhere in Nevada, you must always produce a high quality rental property (product) because this also means when you offer a great product you can expect high quality tenants as well.

Source – Goldenwest

Get Las Vegas Property Managent

For affordable and effective Las Vegas property management contact Goldenwest Management today by calling us at (702) 685-7696 or click here.

 

Las Vegas Police, GLVAR And City Of Las Vegas Team Up To Eliminate Squatter Problem

 

LAS VEGAS – If you’ve lived in Las Vegas for any length of time you know that we have a problem with squatters and this is thanks in large part to the collapse of the Real Estate market in 2007 which resulted in many foreclosures in Las Vegas.

Even though the Real Estate market nationwide is back on track we still have a problem with squatters in Las Vegas due to distressed or foreclosed home. Thankfully a recent partnership with the police, Greater Las Vegas Association of Realtors (GoldenWest Management is a member!) and the City of Las Vegas is going to take steps to solve this problem.

A Partnership That Makes Sense

There’s no denying that a partnership with GLVAR and the police makes sense because Realtor’s® and Property managers are many times the first people who visit homes and it’s not uncommon for us to encounter squatters or damage to a home before the authorities become aware of it.

Thankfully with this partnership a Realtor® can contact the LVPD immediately and notify them that a squatter is living in a home so the police can head out to that property and start taking steps to remove the squatter.

A Criminal Offense

Thanks to Assembly Bill 386 it’s now a criminal offense for a squatter to re-enter a home that they have been previously removed from.

Realtors, Las Vegas property managers and homeowners are optimistic that this partnership between GLVAR, police and the City of Las Vegas will finally do something to solve the problem with squatters in the city because right now there are over 3,000 vacant or distressed homes in Las Vegas and that number is only expected to rise in 2016.

The Greater Las Vegas Association of REALTOR® (GLVAR) is a 12,500 member organization whose agents are often charged with listing and selling these homes. According to GLVAR President Keith Lynam, when real estate agents go to inspect the property, they find some of the homes are illegally occupied.

“More often than not, people inhabiting these dwellings are in the homes without the owner’s permission, they are not paying rent and they are engaged in some kind of criminal activity”, Lynam said. “In some cases, the unlawful occupants may claim to have leases, but in reality, the leases were most likely fraudulently given by someone claiming to either own the property or be a representative of the property owner.”

Get Las Vegas Property Management

GoldenWest Management is dedicated to working with our local law enforcement as well as GLVAR so that we are at the forefront of this issue. If you are self managing, would you have known about how to cure a problem like this? To get more information about Las Vegas Property Management contact Goldenwest Management today by clicking here or calling us at (702) 685-7696.

3 Tips for Successfully Owning Las Vegas Rental Property

helpful-tips

By Goldenwest Management

Owning Las Vegas rental property is one of the best ways for building wealth and thanks to low mortgage interest rates combined with huge demand for rentals there’s never been a better time to purchase rental properties in Las Vegas than right now.

In this article we will offer you 3 tips for successfully owning Las Vegas Rental Property.

Tip #1 – Stay Committed To Learning

The real “secret” to owning Las Vegas rental property doesn’t just come from buying the property and renting it out, you must be committed to lifelong learning by reading books, connecting with other investors and purchasing courses so you can learn from and use to grow your portfolio of rental properties and keep long term tenants.

#2 – Create Your Own Policies, Then Stick with Them

This is by far one of the most difficult things for some owners to do because many owners will create policies for their Las Vegas rental properties then change them and ultimately start managing their rentals on the fly.

For example: you should create firm policies for when rent is due and how you expect to be paid then if a tenant pays late or they try to pay their rent by an unapproved payment method you should stick with your policy and tell them that it your policies apply to all tenants.

#3 – Produce a High Quality Product

It doesn’t matter if your rental property is in Las Vegas or elsewhere in Nevada, you must always produce a high quality rental property (product) because this also means when you offer a great product you can expect high quality tenants as well.

Contact Goldenwest Management, LLC

To learn more tips you can use for successfully owning Las Vegas rental property, or to speak with our team about the property management services we can offer you contact us today by clicking here or by calling (702) 685-7696.

Is Your Las Vegas Rental Property Scaring Away Potential Renters?

our house at night

By GoldenWest Management

Thanks to the demand for Las Vegas Rental Property, you decided to buy another rental, but then there’s a problem.

After advertising your rental on and offline you haven’t received any applications from prospective renters yet and you’re starting to wonder if there’s something about your property that’s potentially scaring renters away.

In today’s post we will help you to look at your Rental Property  with a fresh perspective. As experts, GWM sees hundreds of homes every month on the rental market, so you can see right away  if there are one or more areas of your property that are scaring away potential renters or not.

Bad Curb Appeal

Traditionally one of the first areas with any property that can scare potential tenants away is bad curb appeal.

If the landscape surrounding your rental property in Las Vegas has overgrown bushes, shrubs, trees or grass, and there is trash strewn around the yard, then prospects aren’t going to bother to stop the car.

One suggestion is to desert scape the front yard with a few arid plants for a touch of the oasis feel. Have a gardener come by once a week for a mow and blow at least till the home is rented. If this takes a month, you won’t pay more than $100 for a nice clean exterior.

Make sure the house numbers and trim are freshly painted and all the exterior lights function. Wipe away cobb webs near the entrance to make it inviting.

The Inside of Your Rental Needs Some Sprucing

After enhancing and improving the curb appeal for your Las Vegas Rental property the next step is to improve the inside of your rental by doing the following:

  • Paint interior walls – two tone paint has gotten the best feedback:
    • colors like tan, Navajo white, or greys for walls with swiss coffee color for ceilings and baseboards and trim
    • Whenever possible steer clear of flat paint…it gets dirty quickly, go with an eggshell or satin
  • Professionally Clean carpets and floors.
  • Caulk bathrooms, showers, sinks…it makes them look cleaner
  • When possible Remove and replace dated fixtures (stove, dishwasher). Stainless steel, is the best followed by all black or all white depending on your cabinet and countertop colors.
  • Add Deodorizes (plugin’s when possible) to upstairs and downstairs. A sweet breeze versus a musty smell is important.

There is no need to completely remodel you’re the home, although you may get that itch. Its all about light and bright and clean. Prospects will come if your home shows that it is cared for.

Get Professional Las Vegas Rental Property Management

To learn more about things you can do to increase the value of your Las Vegas Rental Property, or to learn more about the property management services we can offer you, contact GoldenWest Management today by calling us at 702-685-7696 or click here to connect with us through our website.

GoldenWest Management Holiday Hours: Christmas and New Year’s Day

holiday lights christmas and new year's
Photo Credit: Sangudo via Compfight cc

As we approach Christmas Eve and New Year’s Eve, we would like to wish all of our property owners and tenants a joyous and safe holiday.  Please note that if you do run into an issue with your property, you can use the traditional channels for requesting a repair.  Our offices in San Diego, Phoenix, and Las Vegas will remain open all week except for Christmas Day (12/25) and New Year’s Day (1/1).  Thank you for your patronage, and we hope these holidays find you well!

Happy Thanksgiving from Goldenwest Management

Stylized Thanksgiving Writing
Photo Credit: Happy Thanksgiving via Fab Housewife

Tomorrow, Thursday, November 27th, 2014, we celebrate Thanksgiving.  Thanksgiving is a time for reflection, family, and gratitude for the many blessings we have as Americans.  We will not forget all of the sacrifice required to bring the many freedoms and privileges we enjoy today.

As a property management company, we are very thankful to be able to serve our landlord and tenant customers in the Phoenix, San Diego, and Las Vegas areas.  Thank you for your loyalty and patronage.  We look forward to a peaceful and happy holiday season.  Please let us know if there is anything we can do to serve you better.

Please note that in observance of Thanksgiving, our offices will be closed Thursday and Friday.