Archive for July, 2021

Best Neighborhoods in Las Vegas 2021

property manager las vegas

In addition to its glitzy casinos and exciting nightlife, Las Vegas features neighborhoods that are ideal for living. Any real estate investor who wants a piece of the Las Vegas rental market can buy a property in one of the city’s most desirable neighborhoods and generate a lot of interest in their rental availabilities. These neighborhoods in Las Vegas are among the top places to live for families, retirees and anyone else who wants to make the city their home.

 

Centennial Hills

Known for its safety and reasonable home prices, Centennial Hills is a growing community that’s located on Las Vegas Valley’s northwest edge. This neighborhood is particularly ideal for people who want roomy homes with lots of yard space, and some local residents even keep horses on their properties. Children who live in the community often attend O’Roarke Elementary School and Arbor View High School. Floyd Lamb Park is a great place to go fishing or jogging along one of the trails. An amphitheater where many live performances are staged throughout much of the year can be found at Centennial Hills Park.

las vegas property management

Summerlin

This neighborhood was designed as a master-planned housing community and is perfect for people who want to enjoy quieter lifestyles while still being close to all the excitement that makes Las Vegas famous. Single-family and other home styles make up much of the community and are suitable for people of various backgrounds and households of different sizes. Outdoor enthusiasts can explore the local walking and cycling trails and also spend some leisure time at one of the neighborhood’s many parks.

 

Downtown Las Vegas

For something a little more fast-paced, downtown Las Vegas has some great high-rise condos on the market that are among the district’s casinos and other lively venues. People who want to live where Las Vegas began years before the Las Vegas Strip was developed can find the perfect place to call home. People who don’t want to live in Las Vegas full-time often buy homes here to use when they’re in town, which can be good for investors who want to take advantage of the Las Vegas property management opportunities.

 

18b Arts District

This specific section of Downtown Las Vegas is often ideal for creative types who want to live among other likeminded individuals. In addition to its art galleries, the neighborhood boasts several vintage clothing stores, antique shops and eateries. An art walk known as First Friday is held on the first Friday of each month and includes a variety of street performances along with many beautiful art pieces that can be purchased. Real estate investors can find apartments here that are chic and Bohemian in design along with apartments that have Southwestern architectural styles.

las vegas property management

Henderson

Located just outside Las Vegas, this suburb has many housing options that may also be highly lucrative investment opportunities for real estate investors who wish to rent their properties to tenants. Henderson is also considered to be one of the top communities in the U.S. for families. The beautiful Lake Las Vegas can be found in Henderson, which boasts its own resorts that offer gambling and lounging. Lake Mead is also a short distance away and offers the perfect place to cool off when the desert heat gets especially intense.

 

Whitney Ranch

Many Mediterranean-themed houses can be found at surprisingly low prices in Whitney Ranch. Qualified real estate agents in Las Vegas can show homes on the market in this neighborhood that feature stucco exteriors and tile roofs along with attached garages. The neighborhood is also safer than many other places in Nevada, which is especially comforting to the families and retirees who live here. The iconic Las Vegas Strip is just a 20-minute drive away, and McCarran International Airport can be reached in less than 15 minutes by car.

 

Aliante

This master-planned community in North Las Vegas wasn’t even developed until the early 2000s, making it one of the newest residential communities in the city. Today, Aliante features many great homes that are particularly suitable for retirees along with its own casino. Avid golfers who live here often play rounds at the Aliante Golf Club’s course. The Aliante Nature Discovery Park has its own duck pond along with picnic areas that are great for gatherings with family and friends.

 

The MOR Group | Las Vegas Property Management

Many real estate investors have been able to capitalize by investing in these premier Las Vegas neighborhoods. The Mor Group is a local company that’s staffed by some of the top property managers in Las Vegas and can help real estate investors manage their rental properties and handle many of the tasks that are involved in the upkeep of each property. To learn more about what The Mor Group can do for property owners, please visit www.themorgroup.com or call 702-501-1085 to speak directly to a representative.

las vegas property management

Frequently Asked Questions for Property Management in 2021 with Mor Group

The Mor Group have been top property managers in Las Vegas for over two decades and understand the property management realm better than most. The team has outlined their most asked questions for those interested in investing in real estate or looking to hire a property management company in Las Vegas.

Questions About The Mor Group – Las Vegas Property Managers

How many people do the actual property management?

We are a team of 5 and have a full time rental agent.

How many properties does the Mor Group manage currently?

220 properties and growing as of August 2020.

How long has your team been property managers in Las Vegas and Henderson?

We have been managing homes since 2001.

What type and where are these properties located?

We manage homes, townhomes,highrise condos, and condos all over the Las Vegas Valley.

We looked over the list of fees on the website. If the property is vacant, do you still collect a management fee?

We do not collect management fees on vacant homes unless you asked us to list your home too high and we update you weekly that there is no activity and you refuse to lower the price, we will start to charge management fees 1 month later. The reason we would charge is because we would have to start checking on the home since no one is viewing it. Most of our homes get an approved applicant within a week or 2.

 

What are examples of “extraordinary services”?

An example of an extraordinary service would be if you asked us to pick up a package for you that got mailed to your rental home and then need us to mail it to you. I will always let you know upfront if you are asking us to do something that will have an extraordinary service fee.

How long is the management agreement for?

We have a month to month management agreement. All our owners are with us at their free will. We are all about good energy and only want to work with people who we work well with, we assume the owners want the same thing and that is why we will never force an owner to stay with us if they do not want to.

And what is the process for ending the agreement?

If you cancel the agreement with us within 1 year we charge $550 to cancel because we gave you a discounted rate to lease your home (we charge $1200 just to find a tenant and move them in) After the first year, you can cancel anytime with no cancellation fee.

Since we live primarily in another state, would there be any issues or concerns dealing with out of state owners?

Most of our owners are out of state, which is why they opt to work with a trusted team of Las Vegas property managers who they trust with their property.

What is the average length of time to fill vacancies?

We like to get a tenant to move into a home within a month, but many times it’s a lot faster, usually within 2 weeks after listing a rent ready and priced right home.

How are rental rates determined?

We pull similar homes in the subdivision that are listed and that are leased, and we determine a price based on their upgrades and your upgrades. Then we update you weekly with activity. We do not like homes sitting vacant.

Are most leases month-to-month or 12-month lease?

All our leases the first year are 1-year leases, after the first year we usually do another year, but at that time if you and the tenant want a longer lease, we are ok with that. We are not ok with a longer lease the first year in case the tenant looks good on paper but is crazy and does not cooperate with vendors, etc.

Who handles maintenance work?

Adi, Jhared, and Alex, all direct employees of The Mor Group, handle Maintenance.

What is the process for handling service requests?

When we get a service request it is through email. We send you the email, so you are aware that there is a current maintenance request. We will let you know who we are sending and when they are going to your rental property. If you have a suggestion you can jump in anytime, but in the meantime, we will be immediately starting the process to get the repair fixed. Once we have an estimate we will reach out to you again to get your approval, if we do not hear from you we will either wait to hear from you or get it approved if we are confident it is the best price and speediness for you and your tenant. We have been doing this for 19 years and we personally own rental homes so we know what prices should be for most repairs, and if we don’t know, we google it or get a second opinion. We get very upset if a vendor tries to overcharge us.

Are owners required to approve all work that is required?

Not required to, but always given the opportunity to.

We currently have a home warranty. Will you be able to work with them in any service work?

We currently do not like working with home warranties, we used to like them, but we have had too many bad experiences over the past few years with them sending 1 star vendors to homes, and taking way to long for repairs that can be done much faster. Some owners do have Home Warranties and feel better having them in case there is a water heater repair or HVAC repair, so we understand some people are adamant about having one. We will work with your home warranty, but we charge $75/hour to work with them when they take more than a day to fix an essential need for tenancy (HVAC, water heaters, and leaks.) When we call a home warranty, we usually spend hours on the phone following up with them. We also need to figure out rent credits or hotel credits when a home warranty repair cannot be made within 24 hours. Most our vendors can repair an HVAC or Water Heater within a day when we call them directly. We have a home warranty on our personal property but not on any of our rental properties. Tenants get very upset when they must wait longer than normal for an essential repair.

Are there scheduled inspections to make sure everything is working properly and in good condition? (For example, sometimes renters may forget to change the filter for the HVAC)

We do an inspection around the 9th or 10th month of the tenant’s lease, right before we are deciding to renew them or not. Some owners want more visits and that is $75/visit. When we go, we take pictures and check the air filters as well. Currently during COVID we are not doing inspections.

Do you provide monthly owner financial reports?

Yes, we do. We use Buildium and every owner and tenant have a portal where they can check their balance and account anytime.

What do your move-in/move-out condition reports look like?

Our Move in and move out process includes hundreds of pictures of the home inside and out, every cabinet, drawer, wall, ceiling, door, floor, everything and that is taken the day they move in and within 24 hours of their move out. When they move in they are given a property condition report they can send to us within 10 days.

Who handles the utilities? I am assuming electricity and gas will be the renter’s responsibility. How about water, sewer, and garbage?

When a home is vacant, we need you to put on the water and power for vendors and showings. If you do not want to or cannot turn on utilities, we can do that for you for $100/utility and with a $500 reserve to pay the bills.

When a tenant moves in, they will put gas, power, and water in their name. We have owners keep the trash and sewer in their name and send us the bill to get you reimbursed by the tenant. If those bills are not paid by the tenant, we will not know until there is a lien on the property.

We also have a water softener and a reverse osmosis filter that are not being used. Should we have it repaired, replaced, or removed?

If you provide it, it must be in working condition. If you do not want to maintain them, I suggest you remove them.

For the HVAC, who replaces the filter? Owner or renter? and who takes the cost?

This is a tenant responsibility, if an AC repair comes in the vendor always looks at the filters first, if they tell us they are dirty and that caused the issue, we will charge the tenant for the repair. Some owners leave filters for the tenant to use.

Property Investment: 6 Tips for Managing Rental Properties

If you want to have another stream of income to earn more money each year, renting a property out to tenants can offer you a terrific way to increase your cash flow. Investing in rental real estate has its rewards and challenges, but you’ll likely be happy with your decision to embark upon this business venture if you do everything right. As a property manager, you’ll need to take care of all the management responsibilities to keep your property intact and your tenants happy. You can take some of the headaches out of managing your rental property by following these six helpful tips.1. Hire a Property Management Company

One of the easiest ways to alleviate the burden of managing your property yourself is to hire a property management company to ease pressure and stress. The best company for residential property management Las Vegas has to offer will provide services that save you a lot of the trouble involved in tedious property management tasks. When you’re out of town or away from your property for another reason, you can have some additional assurance in knowing that your property will be looked after by a reputable property management company to decrease the chances of burglaries, vandalism, or other problems occurring on the premises when you’re gone.

When you hire a property management company to help you look after your rental property, you can receive assistance with tasks like:

Rent collection
New tenant screenings
Drafting lease agreements
Evictions
Building and grounds maintenance

2. Protect Yourself Legally

You could be on the hook from a legal standpoint if you neglect specific responsibilities of managing your rental property. To avoid getting fined or sued, you must follow all local ordinances pertaining to owning and renting properties. Another good way to keep yourself covered legally is to have a good landlord insurance policy that safeguards you against liability claims that tenants may bring forth because of maintenance or safety issues. You should also keep detailed records of your tenants’ concerns and address their problems quickly so that you don’t end up facing legal consequences. If you have any disputes with your tenants, documenting the incidents will help you prove your version of the events if anyone tries to make false claims against you.

3. Respect Your Tenants

Your tenants shouldn’t be viewed as just additional sources of income for you. Investing in Las Vegas rental properties also involves cultivating a positive environment for each tenant. By respecting your tenants, you’ll have an easier time gaining their cooperation and trust. Your tenants will also be likelier to remain living on your property longer, which can save you the trouble of having to find new tenants as often. Whenever a tenant brings a concern to you, you must listen carefully with an open mind and take what’s being said to you seriously. It’s also essential to stay on top of the maintenance and security measures around your property to show your tenants that you care about their wellbeing.

4. Manage Remotely with Online Services

Whenever you’re not at your rental property, you can use online services to help you manage everything. If prospective new tenants want to look at a vacant unit on your property, you can give them access to an app that will give them a security code to access the unit and take a self-guided tour when you’re not there to show it to them yourself. Other online services let you screen tenants, collect rent, and obtain electronic signatures on important rental documents from any location with internet access.

5. Be Mindful of Your Finances

To conduct the best property management in Las Vegas, you’ll want to make sure that your money is in order at all times. This will be especially crucial if you own multiple rental properties. To continue financing the maintenance and other upkeep tasks of your grounds and units, it’s crucial that all your tenants pay rent on time and that you properly enforce the consequences of failing to do so. You should also pay your property taxes and any mortgage payments that you may have on time so that you won’t be given fines that could drain your finances.

6. Devise Effective Marketing Strategies

Whenever you have a vacancy, you should try to market your property in ways that generate the most interest from people who may want to become new tenants. Social media should be utilized to the fullest to try to reach as many qualified renters as possible. Staying up to date on the latest real estate marketing trends will also help you achieve better results. Whenever you’re posting advertisements for your rental property online or in print, you’ll want to include detailed information on the amenities as well as clear photos that showcase your property in the most flattering ways.

You can become the best property manager imaginable if you take the time to nurture your rental property and your relationship with each tenant. The Mor Group is your go-to source if you want a leading Las Vegas property management company to help you look after your rental property, and you can learn more by visiting www.themorgroup.com.

Tenant and Landlord Laws in Nevada 2021

Certain laws are in place in Nevada to protect landlords and tenants. If you own a property that you rent out to tenants, you can safeguard your investment better and maintain relationships with your tenants by following these rules. By adhering to these current tenant and landlord laws in Nevada, you may also stay out of legal trouble.Habitable Dwelling Requirements

Any property manager Las Vegas residents rent from must provide a living space that is suitable for living and free of certain dangers that could put tenants’ safety at risk. Some key amenities that landlords in Nevada are expected to provide include:

  • Running water
  • Plumbing
  • Air conditioning
  • Garbage removal
  • Sufficient ventilation
  • Working electrical outlets and wiring

To keep tenants as safe as possible, Nevada law also requires landlords to take measures to prevent bed bugs and mold growth.

Written Lease Requirement

In Nevada, a landlord is required to provide a lease agreement in writing if the rental period is expected to exceed 12 months. If you plan to rent to a tenant for less than this period, you should still write up a lease agreement and have the tenant sign it to give you better legal protection if any disputes with the agreement arise during the rental term.

Rent Increase Notice

Raising the cost of rent may be necessary if you need more money for maintenance costs, property taxes or other expenses that are involved in managing your property, but you’ll need to give your tenants enough notice in advance. If you plan to increase the rent cost for any “at-will” tenant who makes monthly rent payments, a 45-day notice must be issued before the increase takes effect. Tenants who pay rent more often than monthly must be given 15 days of notice before the rent is raised.

Eviction Moratorium

The state has enacted an eviction moratorium that covers tenants who meet certain criteria. This eviction suspension was put into place to keep people who have suffered financial losses related to the COVID-19 pandemic from losing their homes because of an inability to pay rent. The law covers tenants who have experienced a substantial loss of income because of a reduction in work hours or significant out-of-pocket medical expenses. If a single tenant earned less than $99,000 in income for the calendar year 2020 or is expected to earn less than this amount in 2021 and is unable to pay the full rent amount, the eviction moratorium can protect them from becoming homeless.

Security Deposit Authorization

A Summerlin property management overseer or any other landlord or property management company in the state of Nevada is authorized by law to collect a security deposit from each tenant. This security deposit can be used to pay for any damages that a tenant may have left in a unit upon vacating the premises at the end of the lease agreement. If you want to collect a security deposit from any tenant who you wish to rent to, the total cost of the deposit can’t be greater than an equivalent of three months of rent. If the tenant qualifies to have their security deposit returned after they have agreed to vacate the premises with proper notice, the deposit must be returned within 30 days after the tenant has moved.

Timely Repairs

Appliances or other amenities inside a rental unit may stop working because of normal wear and tear or mechanical malfunctions. Damage to building structures could also occur for various reasons. If a tenant brings a problem in their unit to your attention that requires any repair work to resolve, you must take action within 48 hours. If you think that you’ll have difficulty tending to the repair work in such a short timeframe, a property management company can work with you to ensure that all repairs are completed without delays.

Tenant Property Requirements

In addition to the rental unit itself, your tenants are required by law to keep any amenities that are provided to them clean, and the amenities must be used for their intended purposes. The plumbing and kitchen appliances are among the items that tenants are expected to keep clean in their units. If a tenant leaves behind any personal property after moving out, you are required to store it safely for up to 30 days and then may get rid of it in any manner that you choose if the tenant has not returned to reclaim their property after 30 days.

Whether you plan to rent to a tenant on a short-term or long-term basis, you’ll want to be mindful of these laws and stay updated on any law changes so that you can keep yourself and your tenants happy and better protected. Adhering to these laws can make your time as a landlord much more worthwhile and less risky.

You may also be asking yourself, “Where can I find a property manager near me to help me oversee my rental property?” The Mor Group is an established Las Vegas property management company that can help you tend to all your landlord responsibilities, and you can learn more by visiting www.themorgroup.com.