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By GoldenWest Management, Inc

Whether you own one home or a growing portfolio of Las Vegas Nevada Rental Property grows so will your need to have vendors you can trust to handle repairs and maintenance. If you don’t have a Property Manager to handle these items, then you will need to create your own “vendor matrix.” Its not a matter of if you’ll need a service technician, but when.

Which Companies Should Be In Your Vendor Matrix?

When creating your vendor matrix it’s important to have companies you can call for any issue including:

  • Handyman
  • HVAC service tech
  • Plumber
  • Landscaper
  • Appliance Tech
  • Roofer
  • Painter
  • Electrician
  • Cleaner
  • Carpet cleaner

As you create your vendor matrix you will want to verify that your vendors are: licensed, bonded, insured and are able to offer service at all hours of the day or night if needed.


 

Add Backup Vendors to Your Matrix

Another important thing you want to do when creating your vendor matrix is to add backup vendors.

These will be companies you can call when your primary vendor is sick, on vacation or unable to offer service for any reason when you need something done quickly.

How to Effectively Choose Vendors

Since choosing the right vendors is the key to success with keeping your Las Vegas Rentals running smoothly you should focus on choosing the right vendors by following these simple tips:

Tip 1 – Search for vendor feedback online BEFORE choosing them. You can use websites like Yelp, Yahoo or Google for this.

Tip 2 – Ask your family members for referrals to vendors they trust. This is a good way to choose vendors since one or more of your family members will know someone they will recommend for basic services which need to be done in a Rental Home like: Handyman, house and carpet cleaner, and HVAC Tech.

Tip 3 – Ask your current vendors who they recommend for the vendors you need to add to your vendor matrix. Most companies will know someone who offers the services you need so it never hurts to ask!

Get Las Vegas Property Management

Do you really want to take maintenance calls at all hours? Do you really want to rely on the “he said, she said” of whether a repair was completed or not? For Las Vegas property management contact Goldenwest Management, Inc today by CLICKING HERE or calling us at (702) 685-7696. We have plenty of tried and tested service technicians that will service you rental properties day or night.

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A Step By Step Guide by GoldenWest Management, Inc

Investing in Las Vegas Rental Property is one of the best ways for you to begin to build wealth and establish long term cash flow for your family.

If you’re thinking about buying an Investment Property for the first time here’s how you get started with buying your first property in a step-by-step process.

Step 1 – Do Your “Homework” First Before Buying

Competition in Las Vegas is fierce among rentals…Its important to ask yourself these questions:

  • Where do you want to purchase a rental property?
  • What type of rental do you want to buy and why?
  • Which neighborhood do you want to purchase a rental property in?
  • What is the average rent in the neighborhood where you want to buy a rental?
  • What is the return on investment (ROI) you can expect from your rental property?

Step 2 – Get Financing For Your Rental Property

Contact a lender or mortgage broker to get pre-approved for a mortgage loan.

Make sure you speak with at least 2 or 3 lenders or mortgage brokers since mortgage interest rates are the lowest they’ve been in decades and you will be able to get an excellent mortgage interest rates.

Keep in mind that many condo developments will not allow all types of financing, and often only accept cash offers due to loan restrictions.

Step 3 – Create A Plan And Stick With It

Once you know the rental you want to purchase it’s important to create a plan to start searching for rental properties which match your search criteria and not get distracted by other properties which don’t match what you’re searching for in a rental.

Many people fall for homes which have big yard spaces or nice kitchens but then forget to stick with their budgets and if they are unable to rent their Las Vegas Rentals out they end up getting stuck with paying a second mortgage payment for a home they are not even living in.

Step 4 – Hire a Las Vegas Property Management Company

Last of all, but most important, hire a Property Manager to professionally manage your rental property. Do it before you close escrow so they can help market and guide your fix-up questions before you have to start paying the mortgage.

This step will save you the time, money and hassle of having to manage your rental on your own and it will ultimately free up your time to focus on buying another rental and growing your portfolio.

Learn more about how GoldenWest Management, Inc can help you by clicking here to connect with us online or by calling: (702) 685-7696.

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By Goldenwest Management

So you’re thinking about getting started with San Diego Rental Property. That’s awesome news but, before you start investing in a San Diego Rental it’s important for you to take a step back and consider the importance of the snowball effect and how it can help you as a Real Estate Investor.

What Is The Snowball Effect?

The snowball effect basically follows the Warren Buffet investment strategy of the “snowball” or buying and holding onto an investment over the years so you can accumulate cash flow.

This investment strategy works well in Real Estate since you can easily have your rental properties pay for themselves over the years if you buy, hold and use the cash flow from your existing rental properties to buy more rental properties.

Snowball Effect in Action

For example:  Let’s say that you’ve bought two rental properties and after expenses both rental properties are generating you about $500 per month each, or an extra $12,000 each year.

If you save the profit from your San Diego rental properties you would be able to buy another rental in about two years and if you continue following this strategy over time it’s possible to pay all cash for your rental properties in the future.

Think Long Term

As a Real Estate investor it’s best to think long term and realize that if you can buy and hold onto your properties for the next 10, 15 or even 20 years rather than using that income now, it’s possible to buy one property per year moving forward and to own an awesome portfolio of San Diego Rental Properties.

San Diego Rental Property Management

As you build your portfolio of San Diego Rental Property let Goldenwest Management be your property management partner who will save you time and money while you enjoy the rewards of owning rental property.

To learn more about how our San Diego Property Management service can help you grow your rental property portfolio call us today at (858) 792-3442 or click here to connect with us online.

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By GoldenWest Management

HENDERSON – Thanks to the hot Real Estate market, and demand for rental property, you may be thinking about getting started with buying Rental Property in Henderson, Nevada.

Owning rental property is a good investment choice since the there is a high probability of positive cash flow and long term appreciation by the asset. Before you get started make sure you learn these simple rules for owning rental property.

#1 – Focus On Consistency

During the time that you own in Henderson, your primary goal should be to be finding quality, long term Tenants. Turnover and vacancy absolute kill your bottom line.

Focus on setting a  conservative price, screening for “A” rated Tenants, and encourage them stay long term and make upgrades (with permission) so that they feel “at home.” Let them paint, plant a small garden, and make the home nicer. When there is a benefit for you, chip in on the expense…trust me it will make the Tenant want to do more.

#2 – Always Create a Paper Trail

As your portfolio of Henderson Nevada Rental Property grows you may deal with a problem situation from time to time and that’s why it’s always best to document everything with your renters including: Taking pictures of the unit before they move in or out, making copies of documents, and always using email to “follow up” on phone conversations. Avoid the “he said, she said” at all costs…creating a “paper trail” will only protect you later on.

#3 – Check Your Renters References Thoroughly

Before renters move into your property it’s important to always check their references including: income verification and personal references because, it’s very common for a renter to use “fuzzy” references on their applications and checking the items on their applications thoroughly before the move in may save you the time, money and hassle of choosing the wrong renter.

Rent Your Henderson Nevada Rental Property

Let GoldenWest Management save you the time, money and hassle of renting your Henderson, Nevada Rental Property.

Contact us today at (702) 685-7696 to learn more about our property management services or click here to connect with us through our website.

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By Jayson Yoss

Las Vegas, Nevada – So you want to renovate your Las Vegas, Nevada Rental Property but aren’t sure what renovations you should make to your single family home.

There’s no denying that the Real Estate market is changing, and the renovations property owners were making to their homes last year are not always the same as those in demand this year. In Today’s post we will share with you 3 tips you can use to increase the value of your single family home.

Tip #1 – Make Your Home More Energy Efficient

 In 2015 most renters are not just searching for a home which has 3 bedrooms, 2 bathrooms and plenty of square feet, they are searching for rental homes which are energy efficient and environmentally friendly as well.

You should consider adding energy efficient windows, low flow water faucets and one or more dual flush water closets to your home because, this will help your rental property to be more energy efficient, while helping your renter to save money as they lower their carbon footprint at the same time.

You also have to point out these cost saving features to your Tenant. If you show them that they are saving $80 per month in their electric bill, they want to choose your home over a comparable property down the street.

#2 – Kitchens and Bathrooms – Your money maker

We all know that most people spend a lot of time in their kitchens for everything besides just cooking this is why you should renovate the kitchen for your Vegas Home. But not everyone wants to spend $25,000 on upgrades so here are some good pointers:

  • Back splash – you may not change the counter, but a nice back splash will make your kitchen “pop.”
  • Upgrade the lighting – recessed lights, drop lights, but whatever you do get rid of those old fluorescent light fixtures. You can even get bold and go with contrasting color pendant lights.
  • Accessorize – Add new knobs, handles, hinges wherever possible. For the bathroom, picture frame mirrors are the new trend and give you multiple options for later changes or upgrades.

#3 – Finish the Garage

Unlike in years past when the typical search criteria for a Las Vegas rental property didn’t mention anything garages except how many spaces, now you need to set your home apart.

Get rid of those unfinished walls; add a small set of cabinets, and if epoxy your garage floor. It is a cost effective way to set your home apart and make the renter who “loves her car” or “needs a space for tools and storage” to know that your house is “the one.”

Get More Las Vegas, Nevada Rental Property Tips Here

Speak with our team of experienced property managers about renting your Las Vegas Nevada Rental property, contact Goldenwest Management today by clicking here or calling us at (702) 685-7696.

For Rent San Diego

By Goldenwest Property Management

Did you know that your property listing literally has 20 seconds or less to impress a prospective tenant before they move on to searching for another listing?

Yes, this is true.

Most people who are searching for properties for rent San Diego, or elsewhere in the United States, will glance at the first picture (otherwise known as the “Money shot”) you have posted of your property then briefly read the first 2 lines of your property description before deciding on if they want to review the property further or move on to another listing.

If you’re interested in increasing the effectiveness of your online listings here are 3 tips which will help you to write better property listings.

Tip #1 – Avoid Using CAPS!

One of the biggest problems with online property listings occurs when people use CAPS to describe their properties.

Example: “AWESOME PRICE! WON’T LAST LONG!”

Although using capitalized letters does convey emotion, the reality is that when you use CAPS this is the same as shouting if you were having a conversation with someone face to face.

Tip #2 – Stop Using Abbreviations

Stop using abbreviations that are confusing in your listings, and when possible write the whole word again, like you may have been doing when you originally started in the business.

Abbreviations like “3br/2b” are what everyone else is using to market their properties online and you can make your listings stand out by taking 5 minutes to actually write about your properties so that prospective tenants are aware of what your home for rent San Diego can really offer them.

#3 – Write Shorter Sentences

Last of all, but most important, when writing property listings make sure you write short and sweet sentences, instead of long sentences.

Shorter sentences are important since people who are searching for properties For Rent San Diego are accustomed to reading shorter sentences online anyway, and you can use a short sentence as a bullet point to capture the reader’s interest with little points about what your property can offer them.

Examples:

This 3 bedroom / 2 bath home has a big backyard with plenty of room for children to play.

The home offers a spacious kitchen with plenty of cabinet space and a large pantry.

For Rent San Diego

Why spend another minute marketing your property For Rent San Diego? Contact the experienced team of property managers at Goldenwest Management, Inc today by calling us at (866) 545-5303 or click here to connect with us online.

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By GoldenWest Management

There’s no denying that more people than ever before are searching for properties for rent in Scottsdale and Paradise Valley, but the big question is what are they really looking for?

If you just purchased a Phoenix Valley Rental Property, or you’ve owned a home for a while but have been unable to rent it yet, here are 7 things renters are really searching for in rental properties.

#1 – An Updated Rental

In 2015 renters are searching for single family homes, town homes, condos and rental properties which are updated and include modern features especially in the kitchens and bathrooms. This includes newer or refinished cabinets and upgraded counter tops.

#2 – More Storage Space

Since many renters these days are also long term renters who are searching for properties which include: bigger closets (think walk-ins), garages with cabinets or attics, as well as any other onsite storage.

#3 – Usable Outdoor Space

Your Scottsdale or Paradise Valley Rental Home may have an outdoor space but is it really usable? If not, you should consider adding faux grass or pliable gravel for kids and animals to play on. In addition, stamped concrete or patios should include tables, chairs and a grill so your tenants can enjoy the outdoors more.

#4 – Safety

Yes, tenants are searching for updated rentals with good amenities but they are also searching for safe rentals as well. You should consider replacing old doors, locks and windows to make your tenants feel safer / more secure.

#5 – Clean Rental Property

It doesn’t matter if you are renting a single family home which was built in the 1950’s, or a new townhome which was built in 2014, your property for rent in Scottsdale must be clean when it’s ready to rent since a dirty rental can easily turn away prospective tenants. Don’t wait to have the home professionally cleaned, carpets steam cleaned, and bathrooms and tubs caulked.

#6 – Close To Everything

Let’s say that your rental is close to all of the best stores, shops and restaurants that Scottsdale has to offer. You should be promoting your rentals close proximity to everything when you market it either online or offline.

Market Your Property for Rent Scottsdale

For more information on what prospective tenants are really searching for, or to speak with us about our property management services, contact Goldenwest Management today by clicking here to contact us online or by calling us for a free consultation at (602) 765-4750.

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By GoldenWest Management

Thanks to the demand for Las Vegas Rental Property, you decided to buy another rental, but then there’s a problem.

After advertising your rental on and offline you haven’t received any applications from prospective renters yet and you’re starting to wonder if there’s something about your property that’s potentially scaring renters away.

In today’s post we will help you to look at your Rental Property  with a fresh perspective. As experts, GWM sees hundreds of homes every month on the rental market, so you can see right away  if there are one or more areas of your property that are scaring away potential renters or not.

Bad Curb Appeal

Traditionally one of the first areas with any property that can scare potential tenants away is bad curb appeal.

If the landscape surrounding your rental property in Las Vegas has overgrown bushes, shrubs, trees or grass, and there is trash strewn around the yard, then prospects aren’t going to bother to stop the car.

One suggestion is to desert scape the front yard with a few arid plants for a touch of the oasis feel. Have a gardener come by once a week for a mow and blow at least till the home is rented. If this takes a month, you won’t pay more than $100 for a nice clean exterior.

Make sure the house numbers and trim are freshly painted and all the exterior lights function. Wipe away cobb webs near the entrance to make it inviting.

The Inside of Your Rental Needs Some Sprucing

After enhancing and improving the curb appeal for your Las Vegas Rental property the next step is to improve the inside of your rental by doing the following:

  • Paint interior walls – two tone paint has gotten the best feedback:
    • colors like tan, Navajo white, or greys for walls with swiss coffee color for ceilings and baseboards and trim
    • Whenever possible steer clear of flat paint…it gets dirty quickly, go with an eggshell or satin
  • Professionally Clean carpets and floors.
  • Caulk bathrooms, showers, sinks…it makes them look cleaner
  • When possible Remove and replace dated fixtures (stove, dishwasher). Stainless steel, is the best followed by all black or all white depending on your cabinet and countertop colors.
  • Add Deodorizes (plugin’s when possible) to upstairs and downstairs. A sweet breeze versus a musty smell is important.

There is no need to completely remodel you’re the home, although you may get that itch. Its all about light and bright and clean. Prospects will come if your home shows that it is cared for.

Get Professional Las Vegas Rental Property Management

To learn more about things you can do to increase the value of your Las Vegas Rental Property, or to learn more about the property management services we can offer you, contact GoldenWest Management today by calling us at 702-685-7696 or click here to connect with us through our website.

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By GoldenWest Management

It’s 2015 and your friends and family members encouraged you to purchase San Diego Rental Property, so you bought a multi-family unit and are ready to start renting.

When leasing to your first Tenant, ask yourself how familiar you are with the Landlord-Tenant laws for our state?

Today’s post cover’s just some of the Landlord-Tenant Laws for that you may want to consider when working with prospective Tenants who are interested in your San Diego Rental Property.

Support and Service Animals

Surprise!!! There is no difference in the eyes of the Housing Authority anymore. Don’t make the mistake of denying a prospect with a Pet after they disclose to you that it is a support animal (of any kind): Emotional support, service animal, etc…The ADA statutes require that you treat that animal as if it were a “wheelchair” meaning you need to make “reasonable” accommodations. If you don’t heed this warning, HUD and the California State Attorney General will be knocking on  your door!

Registered Sex Offender Database

When creating a new rental agreement you must include the following verbiage in your rental agreement:

“Notice: Pursuant to Section 290.46 of the Penal Code, information about specified registered sex offenders is made available to the public via an Internet Web site maintained by the Department of Justice at www.meganslaw.ca.gov. Depending on an offender’s criminal history, this information will include either the address at which the offender resides or the community of residence and zip code in which he or she resides.” (Cal. Civ. Code § 2079.10a)

Tenants and Utilities

Before a tenant signs a new rental agreement you must disclose to them if they are responsible for paying gas, electric or other utilities including what the cost is for those utilities just so the tenant can know if they can afford to pay rent plus utilities in their monthly budget. (Cal. Civ. Code § 1940.9)

Toxic Mold Disclosure

Did you know that before you can rent to a new tenant you must disclose to them if your San Diego Rental Property has toxic mold or not? (Cal. Health & Safety Code §§ 26147, 26148). If you have had major water damage or past complaints of mold, and you don’t disclose this…you could be liable for a lot, including health costs, an environmental specialist, lost rent and moving/storage costs for the Tenant.

This is important to know because mold that exceeds exposure limits which are permissible has been known to post serious health risks and must be dealt with.

Non Smoking Policy

In this day and age it’s not uncommon for most San Diego Rental Property to have a no smoking policy.

If your decision is to not allow tenants to smoke on your property, you must outline this in writing, and provide tenants with specific instructions for where they can smoke on site, just so you can have assurance that your Rental Property In San Diego will be smoke free once you decide to rent it in the future.

Helping San Diego Rental Property Owners

If you think its smart to save a few dollars “managing your own property,” review the above and think about if you had any clue these were REQUIREMENTS in a lease. GoldenWest Management knows Landlord-Tenant laws in San Diego, and if we aren’t sure, we have legal counsel that deals with this EVERYDAY at our disposal. Call us to learn more about our affordable property management services, contact GoldenWest Management today by calling us at (858) 792-3442

phoenix arizona

By GoldenWest Management

You just purchased another Phoenix Rental Property and your life is starting to get busier than ever before.

With managing your properties, investments, and family life, there’s not a lot of time left in the day for you.

Instead of continuing on running your business this way, and sacrificing quality personal time for yourself, here are three reasons why you should hire a property manager.

#1 – Efficient Management of Your Phoenix Rental Property

From handling potential tenants, work orders, repairs, rent collection and all of the other day-to-day responsibilities which come from managing a Phoenix Rental Property you can count on GoldenWest Management to efficiently manage all of your rental properties.

#2 – We Will Save You More Time During Your Day

When you decide to use GoldenWest Management to manage your Phoenix Rental Property you will have more time in your day to live your life and enjoy all of the benefits that come from owning income property.

#3 – You Will Save Money

Another benefit which will come from using GoldenWest for your property management needs is that you will save money with us since you won’t have to deal with issues like tenant calls in the middle of the night or the hassle of having to drive out to your properties for repairs or maintenance issues.

With GoldenWest Management on your side you will have confidence that your Phoenix Rental Property is being efficiently managed so you can focus on growing your portfolio of income properties.

To learn more about the property management services we can offer you contact us today by calling (858) 792-3442 or click here to contact us online.