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Simply Property Management's Blog

Optimistic Real Estate & Property Management

By Greg Paielli | Property Manager in Las Vegas, NV
  • Pros and Cons of Rent-to-Own Homes

    Posted Under: Home Buying in Las Vegas, Rental Basics in Las Vegas, Investment Properties in Las Vegas  |  September 4, 2014 4:16 PM  |  43 views  |  No comments

    Pros and Cons of Rent-to-Own Homes

    It’s no surprise that in a real estate market still swimming with foreclosures, short sales, and underwater mortgaged homes, that potential buyers are sometimes finding it difficult to obtain financing to buy a home. However some buyers are finding a way around that by investing in a rent-to-own home. Basically rent-to-own deals, also known as a lease-to-own, require buyers to pay extra rents each month plus up-front fees of about five percent of the purchase price. The regular rent presumably goes to the owner and the additional payments are used to buy down the price of the home. If this sounds like a to-good-to-be-true option, it’s certainly not without its risks. Here are the pros and cons of rent-to-own homes.

    Pros

    • A rent-to-own lease gives buyers a chance to build up down payments and to improve their credit scores so obtaining a mortgage or future financing is easier.  
    • Buyers having trouble arranging financing can benefit from a rent-to-own lease according to Las Vegas Property managers.
    • Since most rent-to-own contracts are written to close in twelve to thirty-six months, buyers have a chance to experience the home and feel out the neighborhood to make sure it’s a right fit for their future home needs.

    Cons

    • If buyers fall behind in their monthly payments and are evicted, they lose any up-front fees and rent premiums they paid and their investment is gone.
    • Las Vegas property managers warn that if owner aren’t able or willing to carry a buyer’s loan, they’ll have to apply for financing. However, if they aren’t able to arrange for financing at the end of the rental payment, they could forfeit all the extra cash they invested.
    • Renters locked into a rent-to-own lease can be more susceptible to foreclosure scams. If the renters are unaware that the owner is going through a foreclosure and have been paying inflated rent payments, they’ll be disappointed to see the bank reposes the home and lose their investment payment.

    §

    If you choose to invest in a rent-to-own home, Las Vegas property management companies recommend that you know exactly what you’re getting into. Find out what all your upfront fees and extra rental payments are going towards. Requesting a report or writing two separate checks to track how much you’ve invested towards your down payment is highly recommended. And most importantly, make sure the contract conditions are clear because you’ll want to protect yourself as best possible for increasing home prices, job loss, inability to find financing or anything else that could jeopardize the closing.

    If you’re looking to buy a home in Las Vegas or searching for a Las Vegas property management rental home, please contact the Simply Property Management-Paielli Realty, Inc. Team today.

    Greg Paielli

    Simply Property Management – Paielli Realty, Inc.

    www.lasvegaspropertymgmtservices.com

    Search Our Listings!

    We Make it Simple Not Complex

  • Top 5 Ways to Burglarproof Your Home

    Posted Under: Crime & Safety in Las Vegas, How To... in Las Vegas  |  August 8, 2014 2:17 PM  |  65 views  |  1 comment

    Top 5 Ways to Burglarproof Your Home

    There’s rarely an experience more terrifying or violating than a break in or a home invasion.  According to neighborhoodscout.com, your chance of becoming a victim of property crime in the Las Vegas area is one and thirty-one. And with summer time being vacation time before the kids are back in school, empty homes make the perfect target for crooks. Las Vegas property management companies recommend that you take the time to burglarproof your home for your own personal safety. Here are the Top 5 ways to burglarproof your home and provide peace of mind while you’re away.

    1.) Guard your garage: Look for a perforated punch-out hole on your garage door track and invest in putting a padlock through the track to provide an extra layer of security.

    2.) Defend your deadbolt: Have a standard deadbolt lock on your door? Most our secured with half-inch screws that make it easier to break through the door jamb by kicking the door in. Replacing those screws with longer, three and a half inch screws will help. Check with your Las Vegas property manager if you have concerns about doing this repair.

    3.) Protect your patio doors: If you have a patio door in your home, it’s worth it to consider adding a secondary lock. Since burglars can try to lift the patio door of its track to get in, an extra lock that latches from the top and bottom is a smart way to guard your door.

    4.) Level up your lighting: Motion detection lighting is a great way to illuminate the exterior of your home, even when you’re out of town. Criminals prefer to break in to homes that are not well lit, but Las Vegas property managers suggest adding bright walk-way lights and motion detection lights on the front and back of the home to deter break-ins.

    5.) Replace rusted locks: When you live in an older home, door hardware is typically older and that much easier to break through. Replacing your hardware not only better protects you, but can also add value to your home as well. Look for bump resistant or “spool pin” locks specifically designed to make it more difficult to pick for criminals. “Smartkey” devices are another great upgrade to consider as they utilize a different design than the traditional lock and are therefore harder to pick. Ask your Las Vegas property manager or landlord if they are willing to cover or pay half the costs for this added security.

    Even though these burglarproof tips aren’t guaranteed to protect your home 100 percent of the time, they can certainly make it more difficult for a break-in. It also doesn’t hurt to have an alarm or a dog and a trusted neighbor to keep an eye on your home and visa versa. If you’d like more information about how to protect and burglarproof your home, please contact the Simply Property Management-Paielli Realty, Inc. team. - Greg

    Greg Paielli

    Simply Property Management – Paielli Realty, Inc.

    www.lasvegaspropertymgmtservices.com

    Search Our Listings!

    We Make it Simple Not Complex

  • Home Inspection Hot Spots You Don’t Want to Miss

    Posted Under: Home Buying in Las Vegas, How To... in Las Vegas  |  July 11, 2014 7:31 AM  |  72 views  |  No comments

    Home Inspection Hot Spots You Don’t Want to Miss

    Found a home you love? Congratulations! Now comes the fun part, the home inspection. If you’re lucky, the beauty you see on the surface will apply to all the hidden areas as well. Because there’s rarely anything worse than closing on a Las Vegas home and finding it needed more repairs than was initially identified in the inspection process. Here are a few home inspection hot spots you don’t want to miss.

    Toxins: If you’re purchasing or renting an older home, be sure the inspector tests for toxins such as mold, lead paint, radon, and asbestos. Las Vegas property managers advise that hidden toxic gems like these are not only dangerous for buyers, but can cost thousands of dollars to remove later.

    Roofing: From ground level, a roof could look just fine. But a few new shingles and a good ceiling paint job can sometimes cover the subtle signs of a leak or other damages. Some home inspectors don’t physically go on the roof to check it out and look for signs of wear from the inside or from ground only. If you’d like a more thorough roof inspection, you may want to consider hiring a licensed roofing contractor.   

    Foundation: Believe it or not, cracks in the foundation can indicate serious structural problems that could house issues from improper construction techniques to water and termite damage. Some foundation instabilities are hidden below the flooring and can easily be missed. But if you note characteristics such as un-level flooring areas, cracking walls, shifted framing, or doors that don’t close then there may be more to the structure than meets the eye and you could have problems later.

    Las Vegas property management companies know that purchasing a home whether for a financial investment or a living investment is a huge deal. So it’s in your best interest to hire someone who will be as thorough as possible during the inspection process. Whether your real estate agent recommends a home inspector or you locate one yourself, be sure to interview them and make sure you feel comfortable with their credentials and abilities. Buyers who opt to inspect their prospective home by themselves are rarely qualified to conduct a thorough home inspection and should at least hire qualified specialists and licensed contractors to inspect the areas they’re not fully familiar with.

    If you have more questions about the home inspection process or need assistance locating a Las Vegas home to purchase or rent, please contact the Simply Property Management-Paielli Realty, Inc. team today. – Greg

    Greg Paielli

    Simply Property Management – Paielli Realty, Inc.

    www.lasvegaspropertymgmtservices.com

    Search Our Listings!

    We Make it Simple Not Complex

  • 3 Creative Ways to Improve Your Home Lighting

    Posted Under: Remodel & Renovate in Las Vegas, Design & Decor in Las Vegas  |  June 16, 2014 2:50 PM  |  97 views  |  1 comment
    3 Creative Ways to Improve Your Home Lighting

    It’s no surprise that lighting is one of the most important features in the home. What good is displaying beautiful new accessories or getting any cooking done without the right kind of lighting? Even if you’re not the kind of person who pays much attention to light sources, just about everyone can detect when a space isn’t bright enough. Here are 3 creative ways to improve your home lighting so you can get the most out of your favorite spaces.

    1.) Kick up your kitchen lighting:  The kitchen is the heart of the home and with good reason. It’s where all the goodies are kept and prepared, and there’s hardly anything worse than not having enough light when you’re trying to make a meal. Las Vegas property managers recommend adding task lighting to your kitchen so you have ample light for counter activities. Under cabinet lighting is a creative and inexpensive way to infuse more light over work surfaces.  If you want to add some ambient lighting that can also make a style statement, pendant lighting is an attractive choice and a welcome addition. Just keep in mind to plan for a style you can be used now for function as well later when you’re ready to sell.

    2.) Brighten up your bedroom:  The bedroom is one of the most fun places to have lighting, because it’s where you go to relax. Las Vegas property management companies advise not to use lighting that’s too bright unless you need to illuminate a work area in the room. Chandeliers in master bedrooms are quickly becoming the new way to glam up and light the space, replacing a boring ceiling fixtures and acting as an artistic focal point. Funky, asymmetrical floor lamps are replacing typical matching table lamps as a fun way to infuse function and style.  Backlit art work, lighted mirrors, or wall-mounted rope lighting in a neat design can also be an interesting accent.  Also, adding perks like remote control or voice activated dimmer switches help set any mood without even flipping a switch.

    3.) Illuminate your Lavatory:  Need to add some pizazz to your powder room? You’ll find the days of the typical ceiling light or the three bulb wall fixture above your mirror is becoming a thing of the past. Bathroom lighting is getting new life with fun additions like backlit shaped mirrors or pretty wall sconces cut directly into the vanity mirror.  Recessed niche lighting and even rope lighting nestled along crown molding adds a new twist to the washroom. Don’t forget about the added benefit of a shower light, and don’t be surprised if you start seeing glam vintage style chandeliers in roomy master bathrooms for a touch of class. 

    Want more ideas on creative ways to improve your home lighting? Contact the Simply Property Management team or visit us on Facebook and Twitter.  –Greg

    Greg Paielli

    Simply Property Management – Paielli Realty, Inc.

    www.phoenixpropertymgmt.com

    Search Our Listings!                                                                                                     

  • Top 3 Moving Mistakes to Avoid

    Posted Under: Moving in Las Vegas  |  May 28, 2014 3:09 PM  |  136 views  |  No comments

    Top 3 Moving Mistakes to Avoid

    How many people have you ever heard say, “Gee, I love packing and moving!” It’s certainly not a phrase you hear often, and with good reason. Most people would rather avoid the stress of moving to a new place, even if they’re excited about setting up in a new home. The thought of packing, driving, and unloading all your stuff is enough to make even an across town move an exhausting one. So before you start packing, here are the top 3 moving mistakes to avoid.

    1.) Never underestimate the cost: Moving is one of the most expensive things you can do, and there are so many steps involved. If you’re moving into a Las Vegas property managed home, don’t neglect to find out all your costs before you move.  Costs like utility set up, fuel costs, renters insurance, and pet deposits have a funny way of slipping through the cracks when you’re calculating your moving budget. If you don’t plan in advance, you’ll be moving into your place with empty pockets. Also, don’t forget to collect on deposits you may be due from previous renter or utility deposits so you can apply those costs towards your trek to your new destination.

    2.) Going at it alone: Think you can move your entire apartment by yourself just because you have a Red Bull and a free weekend? Think again. Even if you don’t think you have that much stuff, extensive effort and planning goes into moving. Do-it-yourself style moving might seem like it could save you money, but dropping your precious big screen TV or banging up your new Las Vegas property manager’s door trying to move your sofa in might not go over so well. When all else fails, give yourself plenty of time to research what it truly takes to move and consider investing in a reputable moving company. Can’t spare the cash? You can have trusted friends help, but just know your grandmother’s antique china won’t be covered by insurance if they drop the box marked “FRAGILE.”

    3.) Keep your essentials at hand: In the frustration to hurry up and move already, it’s easy to just throw everything into the nearest empty cardboard box…the sheets, the dishes, the cat. But moving into a new place is tough enough without having to dig through boxes to find the stuff that you need just for the first night. Think toilet paper, Aspirin, and towels. How about scissors for cutting the packing tape off all those boxes? Pack a moving day “survival-kit” with all the essential you might need at hand and you won’t have to be digging through boxes at 10 at night looking for your cellphone charger. 

    Hopefully avoiding these top 3 moving mistakes will help make your relocation a more seamless and less stressful experience. If you’re interested in moving into one of our available Las Vegas property management locations in your area, please contact the Simply Property Management team today.

     

    Greg Paielli

    Simply Property Management – Paielli Realty, Inc.

    www.lasvegaspropertymgmtservices.com

    Follow us on Facebook and Twitter!

  • 5 Ways to Integrate Earth Day in Your Home This Spring

    Posted Under: Quality of Life in Las Vegas, Going Green in Las Vegas  |  April 30, 2014 5:38 PM  |  248 views  |  1 comment
    5 Ways to Integrate Earth Day in Your Home This Spring

    How many times have your heard, “We only have one earth?”  in your lifetime? The month of April is Earth Awareness Month and in honor of last Tuesday’s Earth Day and the last day of the month, I’d like to share with you 5 ways to integrate Earth Day in your home this spring.

    1) Watch your grass: Do you have an automatic sprinkler system set up to maintain your yard? Las Vegas property managers would suggest keeping an eye out for over-watering. Daily sprinkler use can be very wasteful and bad for your lawn as well. Watering your lawn two times a week is an ample amount to maintain your lawn and saves water as well. Best of all, nature typically knows best and can help water your grass especially during the spring.

    2) Save your lunch: Whether you’re a smart brown bagger who brings a sack lunch from home to work or your like to eat out, lunch time can still pack a lot of trash with it. If you bring a sack lunch from home, using Tupperware and a reusable lunch bag or lunchbox with silverware will eliminate daily trash that accumulates from tossing plastic utensils and paper bags in the trash. Also, use a reusable container from home in lieu of plastic bottles. Eating takeout? Ask places if you can use your own gear. If you tell them you’re doing it to save their containers for other use, most places would be happy to oblige.

    3.) Run full loads only: This one’s a given. But when it comes to running the dishwasher or your washing machine, it’s best to run full loads only. Less small cycles mean less water is wasted which not only saves you money but is an also really earth friendly move.

    4.) Clean green: When the spring cleaning bug hits, it hits hard! It can be tempting to scrub the house from top to bottom with the most popular brand cleaners, but regular household cleaning products can be incredibly toxic and are claimed to be the second largest air pollutant in the U.S. Las Vegas property management companies advise using green cleaning products for your home. You can even easily make them yourself, which is environmentally friendly and more cost effective.

    5.) Assist your air conditioner: Las Vegas property managers know how quickly things heat up in our area and air conditioners will of course get the most use in the summer. In addition to making sure your air conditioner is in tip top shape, adding window coverings that help block out the sun’s rays can help keep your home cooler and keep your air conditioner from working too hard.

    You don’t have to be an earth activist to want to use smart, energy efficient practices into your home and daily routine. Even if everyone in the world did just one of these methods, they could make a world of difference. If you’d like to know more ways to make your home more energy efficient and Earth Day friendly, please contact the Simply Property Management-Paielli Realty, Inc. Team.

    Greg Paielli

    Simply Property Management – Paielli Realty, Inc.

    www.lasvegaspropertymgmtservices.com

    Follow us on Facebook and Twitter!

  • 3 Smart Ways Property Managers Protect Your Investment

    Posted Under: Rental Basics in Las Vegas  |  April 18, 2014 5:01 PM  |  238 views  |  No comments

    3 Smart Ways Property Managers Protect Your Investment

    If you’re like most people, when it comes to financial independence you’re looking to thrive, not just survive. That’s why so many chose to invest in rental real estate which can provide either supplemental income or primary income. But what do you do when managing a property gets to be too much to handle? If you are a property owner without the time or desire to manage your investment or you have multiple properties that are too hard to stay on top of, it may be in your best interest to outsource to a Las Vegas property management company. Property managers offer a vast array of services to help property owners thrive in the housing market. Here are 3 smart ways property managers protect your investment.

    1.) Locate Tenants

    A rental property that sits empty is a property that is costing you money rather than making if for you. One of the perks of hiring a Las Vegas property manager is that they take the time to advertise your property to find tenants. From online ads and websites to paper advertisements, they help fill your investment as quickly as possible so you can begin profiting. Additionally, they also screen tenants with in-depth background, credit, and previous rental history checks to assure a better quality of tenant for your asset.

    2.) Provide Maintenance

    Las Vegas property management companies not only have access to licensed contractors to assist with repairs, but they also have well-trained staff to assist with preventative maintenance that can save you money in the long run. Scheduled walkthroughs help managers to proactively check for leaks and structural issues to cut your costs and help keep your tenants happy too.  They also have staff for to provide emergency repairs if needed so you don’t have to.

    3.) Dirty Work

    Collecting rents. Enforcing late fees. Evicting bad tenants. Managing your own property is a full time job, one that can be filled with drama. If you don’t have strong constitutions to deal with excuses, sob stories, or jilted vandals, it helps to have a property manager to take care of the “dirty work.” Having a Las Vegas property management company who can take care of the hard stuff saves you time that you can devote to your own personal projects or core business. And because they are on the front lines taking care of your investment, this leaves you the freedom to make income elsewhere.

    When you think about all the things property managers can do for you, it just makes sense! Why would you want to worry or take time away from your other ventures when you can have a trusted, reputable company protect your investments? If you’re looking for quality management services in your area, please contact the Simply Property Management team today!

    Greg Paielli

    Simply Property Management – Paielli Realty, Inc.

    www.lasvegaspropertymgmtservices.com

    Follow us on Facebook and Twitter!

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