Property Management

Nevada laws require landlords to divulge information regarding the lease agreement, including the need for nonrefundable fees and the circumstances under which the landlord can use the tenant’s deposit. Also, the law requires that a tenant pay a security deposit of three months, which should be refunded thirty days after the tenant's lease lapses. Further, the law explains the circumstances under which a tenant can withhold rent payment or a landlord can terminate the tenancy.

As a property developer or owner with multiple real estate investments, it can be challenging to keep tabs on these laws because they keep changing. If you are not careful, tenants will sue you in small claims court for violating their rights. Your property manager is there to help you avoid being on the wrong side of the law. These professionals understand Nevada landlord-tenant laws and are up-to-date with law changes. They know the right way to screen a tenant or terminate a tenancy.

With property managers, you will not have to worry about being sued because of charging a deposit beyond the designated limit, illegal eviction, or any other issue arising because of a lack of understanding of the Nevada landlord-tenant statutes.

If you have lived in California your entire life but have an investment property in Las Vegas, you could be unfamiliar with the intricacies of property management in the state. Hiring a property manager at Erica Yip Real Estate means you will have someone on the ground to manage the property on your behalf. All management challenges, like repairs and tenant complaints that are challenging to deal with remotely, will be handled by the local property manager onsite.

One critical responsibility of your property management service at Erica Yip Real Estate is to oversee repairs and maintenance. When you are away from your property or do not have time to be around to address tenant complaints, it can cause a lot of frustration. Additionally, the real estate will be unsafe if repair requests like water leakages or extermination are not handled quickly.

Our property managers will come in handy to address any repairs or maintenance issues tenants raise. Property managers are always available to address plumbing or electrical problems faced by tenants in person or by contracting a third party. When a tenant requests that water leakage problems be addressed, your property manager will act promptly to keep tenants happy. Also, your property will look safer, more appealing, and more habitable, ensuring full occupancy.

If you are not present to address maintenance requests by tenants, they will be unhappy and likely to take their business elsewhere. Again, when you fail to perform repairs and maintenance on the property regularly, it will become inhabitable, resulting in a loss of investment and trouble with the law. Therefore, we recommend you have a manager on the ground to protect your investment by ensuring proper repairs and maintenance.

Another responsibility of property managers is to market your property by allowing potential tenants to view vacant units and lease if interested. Marketing is essential in the real estate industry. Property managers understand this better, so they will take pictures of your properties and list them on various social media platforms and housing sites. When more people learn about your property and its features, the higher the chances are they will be interested in renting or leasing it.

Marketing is crucial because it ensures that you do not suffer financial losses because of empty units and also allows you to be selective of tenants who occupy the property. You can choose the right ones to settle if you have many tenants willing to lease your property.

Additionally, when prospective tenants want to check out the property before leasing, your property manager will ensure there is someone on site to take them on a property tour, especially if you are outside Las Vegas.

On top of attracting prospective tenants, your property manager will ensure those with existing leases renew their contacts, significantly reducing possible financial losses associated with empty housing units.

Tenant management involves screening potential tenants through criminal background and credit checks to ensure the right people occupy your property. Your property manager will conduct the screening and handle the lease agreement. When a tenant has an emergency or wants to move out, your property manager will be there to address the crisis or oversee the move-out. Again, if a tenant does not comply with the lease agreement, your property manager will ensure the law is followed during eviction to prevent legal issues.

You can incur huge losses when a tenant moves out and does not pay for property damage. If you have a busy schedule or are out of town, you will not have time to come and inspect your property when a tenant is moving out. You could return the total security deposit only to realize later that extensive damage was done to the property. Instead of digging deeper into your pockets to pay for maintenance after a move-out, your property manager at Erica Yip Real Estate will inspect the house for damages. Based on the amount of cleaning and repairs needed, the manager will deduct the expenses from the tenant’s security deposit to protect you from the extra costs of performing repairs or cleaning.

Your property manager at Erica Yip Real Estate will also collect and deposit rent on your behalf. The primary duty of a manager is rent management, which entails setting the rates to be paid as rent on the property. Usually, the decision on how much to charge for rent depends on the safety and aesthetics of the property, its location, and the prevailing market rates. After setting the rent amount and obtaining tenants, your manager will collect rent through various payment modes. Our property managers use online websites or payment applications for easy and safe money transfers to the property owner or developer.

Additionally, your manager will deal with delayed payments and evictions. These tasks can prove extremely difficult for you, considering you do not have the time, training, or experience to manage rent. On the other hand, your property manager has all the time, expertise, and knowledge necessary to undertake these tasks effectively, saving you both time and resources.

When you have a real estate investment, you will likely have many workers, including security guards and caretakers. Your manager will supervise them and ensure that all the duties assigned to these workers are performed as expected. Besides, when these employees raise grievances, your property manager will be available to discuss their issues to ensure satisfaction. If a need to terminate an employee’s contract arises, you do not need to do it in person, as the manager can handle it.

When you have a residential property, we will pick a property manager specializing in this area. Residential real estate or properties are designed for people to live in, and they include:

• Single-family homes.
• Duplex or triplex homes for multi families.
• Mobile homes.
• Condominiums.
• Manufactured homes.
• Townhouses .
• Apartments.

Your residential property needs are different from those of a commercial property. Therefore, when you visit us to hire property management services, specify the kind of property you own so we can match you with the right skills and expertise.

You would require commercial property management services if you developed your real estate property for individuals to work on. Examples of commercial properties are:

• Parking lots.
• Storage facilities.
• Offices.
• Public accommodation.
• Co-working spaces where experts rent working space for hours or days.
• Shopping malls.
• Apartment buildings.

If you own an industrial property like a warehouse, distribution facility, heavy production facility, or light manufacturing facility, you can benefit from our industrial property management services.

You should note that some properties do not precisely fall under any of these three categories, but they still require management services. The properties include theaters, worship places, resorts, learning institutions, and sports arenas. If you own any of these properties, you should consider coming to us for special-purpose real estate investment services.