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Thinking about renting our Las Vegas vacation home

Discussion in 'Living in Sin (City that is)' started by Bookit, Jan 4, 2017.

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  1. Bookit

    Bookit Tourist

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    Hello, My husband and I are considering renting out our vacation home in the Centennial Hills area. We are out of state and would like to know if anyone can give some input on property management companies that you have had success with.
     
    Last edited: Jan 4, 2017
  2. Joe

    Joe VIP Whale

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    Long term or month to month?
     
  3. Bookit

    Bookit Tourist

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    Long term
     
  4. tominiowa

    tominiowa High-Roller

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    I have 2 rentals in Centenial area and do it myself. I did have 4 at one time and definitely live a ways away. Management companies charge too much for nice houses that rent easily. I have had good luck on just craig's list or using a realtor who has rental license and have them rent it out on MLS for a flat fee. At 8-10% a month they over charge IMHO.. Read carefully what they do. Many only inspect property once a year. Do not guarantee a good tenant and charge you to kick them out and collection fees. Right now one house has the same tenant since purchase 7 years ago, the other has 4 years for the tenant. This area is easily rented to good people. Higher the rent the higher quality the tenant is a general rule.
     
  5. paperposter

    paperposter MIA

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    epronet.com
     
  6. CalifLovesVegas

    CalifLovesVegas Low-Roller

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    I would say 10% is high, especially on large amount rents...... but for someone who prefers
    to be handsoff? A GOOD Prop. mgr is worth it.

    I say a GOOD Prop mgr., cuz there are some good & BAD ones out there.....

    I had a very nice home that got trashed from a tenant from one Prop. mgr. Fired him.

    Got a new PM who was wonderful.
    But when she left the biz, I was on my own.
    I actually did a Better job (inspite of the distance) than hiring a new prop. mgr.

    It really depends on your circumstances.
    If you go to Vegas on a regular basis, or have backup in case of emergency?
    Then do on your own, with help of a Realtor to get a tenant.
    Thats a Good idea.

    TominIowa, what kind of One time fee did the Realtor charge finding a vetted Tenant?
     
  7. Bookit

    Bookit Tourist

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    Thank you so much for your input. We will surely check it out.. We do come to Vegas a lot and we also have very good friends that are willing to keep an eye out on it for us. They live very close to the house. Planning on getting things rolling here at the end of the month when we go back there.
     
  8. ShelbyCharger

    ShelbyCharger MIA

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    I own a house in Henderson 3 br 2 ba. Bought it very good $ a few years ago. We have a tax vacation home deduction on it [ not a money maker]. Have been going back and forth on renting it, but with it's value I would rather sell it down the line. I have bought, rented and sold homes in IA . My honest, been there, would never give up my property to stranger or worse family. There are so many ways that one bad renter can find a fault with you or property to make you soo sorry.



    ' do not get me started on renting
     
  9. tominiowa

    tominiowa High-Roller

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    I used my realtor who I bought the houses thru for the first tenants. The charge is around $500 to get it listed and rented. If a different realtor rented it out they got half of that fee. I only used it at the start and usually got along good advertising it and having my realtor show it for a few hundred bucks. But I did buy 5 houses with her so she did get paid that way. Unfortunately she had a sudden death and now I use a new realtor who does free rent comparable for me... Listing under MLS will get you aa higher quality tenant as they pay realtors to show them houses. Craig's list has good tenants also but also many scam or dead beat people. Be careful who you show houses to as they maybe just scoping the place out. I have only had one bad tenant and to most he wasn't that bad. Had to harass him for 6 months till he paid me all he owed. He tried to use deposit for last months rent which is a no-no. He really wasn't that bad but he lied to me several times, Then it became the principal to me. Had he been truthful I probably would have just dropped it, but when he kept lying that changed it all for me. Hopefully he learned that lesson from me.
     
  10. Don the Dentist

    Don the Dentist LV resident

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    I use Greater Las Vegas Property Management (702-366-0600). They are OK, but they got bought out a few months ago and I have no idea how good or bad the purchasing company is.
     
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