Property managers can make landlord’s life easier

Q: I have a single-family, three-bedroom, two-bath house with a pool near Eastern Avenue and Russell Road that I would like to rent out, but I've never been a landlord before. I would like to use a property manager, but I don't know who is good and who is not. Can you make some recommendations to me?

-- Kelly G., Las Vegas

A: I certainly can, and thanks for asking such a great question that comes up fairly often these days. I see an increasing number of local real estate agents doing property management.

I know more members of the Greater Las Vegas Association of Realtors have become trained and certified in property management in recent years, in part because the local housing market is being driven by investors buying homes that they usually want to rent to others.

Many, if not most, of these real estate investors do not live in Nevada and have a need for a property manager.

Given this demand, it's not surprising that the state Real Estate Division currently lists more than 2,600 licensed property managers in Nevada.

First of all, a property manager must have a property management permit through the state. And if they are working under a broker, that broker must also have a permit. They must also maintain a separate trust account to handle deposits, rent payments, etc.

When choosing a property manager, follow the usual common-sense tips of asking other homeowners, Realtors and others you trust who have used a property manager to share their experiences and contacts.

You can find a list of property managers affiliated with the GLVAR by visiting www.lasvegasrealtor.com/FindARealtor to access the "find a Realtor" page, then using the pull-down menu labeled "primary field of business" to view the contact information for 210 members listed on the site who manage single-family properties. Click on the "find a Realtor" button to access the full list.

For a $25 fee, you can also buy a list of property managers from the Real Estate Division by filling out an online order form at www.red.state.nv.us/forms/647.pdf. Call the division's local office at 486-4033.

I would advise that you check with the Real Estate Division to see if any complaints have been filed against a specific property manager.

Once you have settled on a few managers, you should interview them to get a feel for the people you are hiring to manage your substantial investment.

Ask them how long they have been doing property management in Southern Nevada and how many accounts they have.

In addition, ask if you can talk to some of their other clients to check references.

Once you have selected a property manager, you need to have a contract with them that spells out exactly what their job involves. For instance, you may contract with them to handle all repairs, advertising, rental qualifications for the tenant, and everything else that involves the rental and maintenance of the property.

Good luck with your property. Thanks for the great question, and please keep them coming.

Kolleen Kelley is the 2012 president of the Greater Las Vegas Association of Realtors. To ask her a question, email her at ask@glvar.org. For more information, visit www.lasvegasrealtor.com.