How to Rent Out Your House in Las Vegas
How to Rent Out Your House in Las Vegas
Are you considering renting out your house instead of selling it? Becoming a first-time landlord is a big choice to make, but it can mean a constant flow of consistent income.
Before you embark on the landlord journey, it’s best to review what you can offer to tenants. Is your Las Vegas house in a strategic location? Is it situated nearby famous attractions or sits right at the city center? You can then map out your marketing plan and focus on the right demographic to attract.
Master Your Landlord Responsibilities
Before taking on an active landlord role for your Las Vegas home, consider the tasks ahead of you.
As a landlord in Nevada, you’re expected to make your rental space habitable and must act on repair requests within 14 days, except during emergencies. If not, the renters are legally allowed to withhold the rent and conduct the repairs on their own.
It’s also your obligation to handle plumbing and sanitation, water supply, ensure that electrical outlets and wiring are in great order, and proper garbage removal is in place. In addition, Nevada landlords should provide adequate ventilation and air conditioning.
You are also in charge of making sure the floors, walls, and ceilings are free from damage. It is your responsibility to get rid of mold or bed bugs under state law. These responsibilities including taking care of renovations.
It’s best to check your local housing codes as well to keep up with your main duties. Some rules may not be required by the Nevada habitability laws but may be part of local regulations at a city or county level
Make Your Rental Space Ready for Tenants
When renting to tenants, the best way to keep them in your unit long term is to make sure the space has the amenities they want. Providing the right amenities right away helps keep your investment property in the competitive market.
Some DIY landlords consider engaging the services of professional cleaners to keep the appliances and furniture in top condition. They also hire home specialists to inspect the property systems to avoid malfunctioning equipment.
We recommend checking up on your home regularly, and between tenants to make sure your investment property is in good condition and you can update anything that is dated. This helps ensure that the home is ready for tenants.
Increase Your Las Vegas Rental Ads
After you set up your rental home to welcome tenants, you must evaluate the best rental features to promote. These must be amenities that potential tenants highly value. Mention your parking space, convenient appliances such as a washer and dryer, and dishwasher. Also touch on appealing features such as granite countertops and hardwood flooring.
When advertising your property find out which amenities are highly ranked by renters and include them when creating a property listing. Make sure to show professional images and connect to your target audience with your marketing copy.
If you need full-time support in this area, you can outsource the job to a reputable property management company like B&R Property Management. Our team’s experience in the industry can help you attract high quality tenants when you rent out your home in Las Vegas.
We also have expertise in conducting tenant screening, running a marketing campaign, setting the optimal rent rate, collecting the rent promptly, and more. The best way to avoid the eviction process is to only rent to quality tenants. In addition, a wealth of resources is available through us to you and your business.
Our property management team is up to date with current property laws. As a result, your risks are reduced and you don’t end up making costly mistakes, causing you to lose considerable funds.
Hire a Property Manager for Legal Assistance
When renters sign a lease agreement, they expect their landlord to understand the rental laws aligned with the contract. In reality, not all landlords are completely up to date with the right laws. However, there is an easy way to keep up with property laws for your rental home.
If you have little time to study legal matters concerning your Las Vegas rental home, it’s advisable to hire a professional property manager, like B&R Property Management. Their in-depth knowledge of Las Vegas property laws protects property owners from facing litigation and paying fines.
Another benefit to hiring a property management company is receiving accurate financial reports. You won’t have to buckle down and deal with financial paperwork which is time-consuming. The company can do it for you and provide maximum legal protection.
You also don’t need to stress over assigning the right rent to your Las Vegas rental home. B&R Property Management knows the present property values in the neighborhood where your Las Vegas rental home is situated. They can calculate the rental demand and set the optimal rent on your behalf.
Screen Your Prospective Renters
Tenant screening is an essential phase in managing your Las Vegas rental home.. It lets you know whether you’re opening up your home to responsible renters who can pay on time and keep your space well-maintained. But, doing a detailed tenant screening requires a lot of time.
B&R Property Management has solid experience and skills in screening for high-quality renters. Once a renter is accepted, a Nevada landlord can ask for a security deposit worth three months rent.
If the landlord and tenant agree, a surety bond can also be used for the deposit. These are legal details you must know and can be easily managed by a professional property management company.
If you lack time to go in-depth on property laws in Las Vegas, contact B&R Property Management for your Las Vegas rental home needs! We are happy to help you with all your property management needs.