SUCCESS OBJECTIVES
MAXIMIZE CASH * RAISE VALUE * REDUCE RISK/STRESS

THESE IMPORTANT GOALS ARE ACCOMPLISHED BY PROVIDING THE FOLLOWING SERVICES:

Operations

We operate the same way a large efficiently run apartment complex would. We use maintenance people and handymen for the run of the mill repairs and call on specialists for large important jobs like air conditioning, roofs, and electrical work etc. Our goal is to provide the tenant with a quick response, and the owner with quality work at a good price. We are constantly looking for vendors who can do it faster, better, and at a reasonable price. In a fast growing area it is very important to select vendors who you can trust and will provide the type of service that can be relied upon.

Improvements

Make improvements when they will provide a solid platform from which to raise rents. Here is an easy example... a pool. A pool is an improvement, it's an expensive one, and it demands higher rent when compared to similar properties that do not have a pool. On the other hand, painting after the third tenant vacated would not necessarily be considered an improvement. This is more of a maintenance issue. We're not suggesting that an owner put in a pool on properties that do not have one. A pool was only used as an example. Most owners can't afford improvements. However, if you can, and it will mean higher rents and higher resale value... you might want to consider it.

Establish and Implement Rent Increases: Rent increases are simply determined by market value... supply and demand. Comparisons are run through the Multiple Listing Service that provide a strong base from which to determine the fair market value. In times of lower interest rates, existing owners will be competing with new owners that may have obtained more favorable financing, and therefore able to offer lower rental rates and still make a profit. When interest rates are rising, just the opposite will happen. Also, when interest rates are low, there is an increase in investor purchases which flood the market with available properties which in turn puts pressure on prices and rents can and will drop.

This is primarily done at the time their lease is about to renew. In recent years, in Las Vegas , rental prices have not been going up with inflation. Instead, with the massive and pervasive expansion that seems to be non-stop, rental prices have pretty much stayed the same and in some cases declined. Having said that, we are however vigilant in looking for opportunities to increase an owners bottom line. In Nevada , you have to give a tenant a 45 day written notice if there is going to be a rent increase. Of course, you can only complete this with tenants who are on a month-to-month basis or are just about to renew their lease term.

There is rarely a reason to make any type of rent concession that is going to be of benefit to the owner. Eviction proceedings are started on the 6th of the month and in most instances the tenant is out by the 21st.

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