For all the years that I have been involved in one form of real estate or another, I have resisted the temptation to expand my company into property management. It is considered to be very time consuming, detail-oriented, and it requires tremendous effort for little apparent return. But the recent changes to the Las Vegas real estate market have finally brought me into a “must-do” field of thinking.
Only a few years ago, cash purchases accounted for roughly 5 percent of Las Vegas home purchases. That number today is greater than 50%. One reason, of course, is the significant reduction in home prices. But even more responsible for the change is the number of investors entering the Las Vegas real estate market: specifically, the number of investors who do not live here. Recently ranked number one in the nation for real estate investment opportunities, Las Vegas has become, once again, an investment hot spot.
Because so many out-of-state (and out-of-country) investors have been snatching up local properties in the Las Vegas, Henderson, Summerlin and North Las Vegas areas, property management services are in high demand. And if we wish to retain our clients for future real estate business, we need to service them properly for all their real estate needs, and that increasingly includes property management.
TR Realty Property Management Division was recently born, after long-term planning and preparation. It was well-thought out, well-capitalized and highly organized. We have invested in the best software and tools, in order to provide the highest level of service to our property owners. Management personally attended property management school, successfully completed exams, and obtained proper licensing, rather than simply hiring a designated property manager like many other real estate firms. That means in TR Realty, there are already four fully licensed and insured certified real estate professionals with active property management permits, all of whom share the vision that ethics are paramount.
Furthermore, we have expanded our offices to include a separate facility exclusively for property management. Virtually all of the time, a licensed property manager is on site. Hours vary for each individual, but Jose Montez, Allan Lovinger, Emily Tien or I are always happy to facilitate services. Yes, we are very serious about property management at TR Realty.
TR Realty Property Management Division services include tenant screenings (credit, eviction, criminal and sexual offender), 7-day rental showings, full-service property oversight, tenant procurement, lease preparation and execution, security deposit trust account, rent collection, repairs and renovations, on-site property inspections, online tenant rent payment options, electronic landlord payments, environmentally-friendly services, fast landlord rent submission, and much, much more. Our property managers are multi-lingual, as well. And, referral fees are happily and expeditiously paid to licensed real estate professionals throughout the United States who send us their property management clients.
Unlike many property management companies, we do not do just the bare minimum. We do the absolute maximum. We don’t just put a tenant into a property and hope for the best. We do our homework, exercise great diligence, reduce loss, and take care of each property as if it is our own.
Different properties and different property owners have different needs. Therefore, allow our property managers to customize a strategy for your property: one that will enhance and protect your piece of real estate, minimize your headaches and maximize your investment. Please contact Jose Montez, Allan Lovinger, Emily Tien, or me, Bradford Roberts, to discuss your Las Vegas area property management needs.