Invest to Maintain Your Las Vegas Home

You've finally found the perfect Las Vegas area investment property!

Now, you have another investment to make: Plan to spend time and money to maintain that property. You may want do the work yourself, or it might be more convenient to hire a property manager or caretaker. Devoting time and money to handling routine maintenance and responding to emergencies will ensure top returns on your investment dollars. Doing the work yourself can be the least expensive route, but it can be inconvenient if your investment property isn't close to your home. If distance is an issue, you have two alternatives:

• Hire a professional property manager. While this can be a financially costly alternative, it can save you countless headaches – and a lot of effort. A property management firm will screen and hire a staff to maintain your investment property, inside and out. They can also handle advertising for tenants, and collect monthly rentals. A property manager will also respond to emergencies, which is especially important if you live at a great distance from your property.

• Go with a local caretaker. If you're willing to handle rentals and rental collection yourself, go the cheaper route and hire a local handyman and/or house cleaner to maintain your property. Local caretakers can be cheaper; the amount you pay varies by location and the nature of the tasks performed. A good rule of thumb for calculating cleaning fees is to multiply the total number of bedrooms and bathrooms by $20. If you're using cleaners and handymen to go in and out of your home unsupervised, be sure to check references and ask for proof that they’re bonded and insured.

If you don’t have a property manager or caretaker, be sure to have a list of local repair companies at your fingertips. Invest a few hours into compiling a list of plumbers, electricians, exterminators and HVAC people. If you need help, go to a service like Angie’s List or use the phone book.

Finding and purchasing an investment property is a major event; keeping that property occupied and in top condition will increase its value over time. I am Yonas Woldu, and I can help you find your perfect home in a terrific Las Vegas neighborhood – or anywhere in Clark County. For the personalized attention you want with selling or buying property in Las Vegas, Green Valley, or other areas of Clark County, contact me today. And be sure to visit my Vegas Real Property website – I am dedicated to helping you in any way possible.