Home Buying in Las Vegas>Question Details

kdilip2012, Home Buyer in Las Vegas, NV

Are the qualified renters out there in Las Vegas. I keep hearing that it hard to rent. Renters have too many choices ?

Asked by kdilip2012, Las Vegas, NV Fri Jul 6, 2012

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11
Team D'Ercole, Matt & Kim’s answer
We are a property management company with close to 400 homes/Condos. We've been in Vegas since 1976. Who ever is giving you your information doesn't know what they're talking about. We currently have only 12 vacencies out of 400 properties. We do a detailed: Criminal, Credit, Job, Rental History, and Income Varification Screening and have no problem finding good tenants because we provide beautiful homes and fair market prices. The owners who try to skimp or act like slum lords have a hard time finding good quality tenants because they are takers and don't want to invest in their homes so they get what they give. If you want to talk about the market please call and I'll help you as much as you need. Thanks, Matt and Kim

Matthew and Kim D’Ercole
One Source Realty and Property Management
Buyer / Investor Specialist
Cell - 702.501.0973
Website - http://matthewsellslasvegas.las.mlxchange.com
1 vote Thank Flag Link Fri Jul 6, 2012
Look into Lease Optioning the home out to a tenant/buyer. We have over 300 homes in our rent to own inventory. We find that our investors make substantially more by doing this: http://lvpropertysearch.com/las-vegas-investment-homes/las-v…

They are currently functioning in the top 5-10% of what is generally seen. Stop by and learn our secret: http://lvpropertysearch.com/about-us
0 votes Thank Flag Link Tue Jul 17, 2012
You have to do a lot more "smart" marketing to find qualified renters, but the demand is still there and increasing. Las Vegas gas a NET in migration, more people are coming here than leaving. Good sign for landlords


David Cooper Las Vegas Homes for Sale 702-499-7037
0 votes Thank Flag Link Sun Jul 8, 2012
I thank my lucky stars I have a property management company that has over 2000 homes in their rental inventory for making me lots of money over the 35 years I have been investing in Las Vegas.

You can learn from my mistakes, but pricing has of a rental is only a small factor in attracting tennants. I would put location first, and newest of the property second.

Then it comes down to promotion and qualifying a tennant. This is NOT for agents who do this on a part-time basis.

David Cooper Investor 702-499-7037 also licensed buyers agent at Since 1917 Realty

I
0 votes Thank Flag Link Fri Jul 6, 2012
If the rent is priced right you can find a good renter. I run into so many rentals that do not get rented due to high prices or they are not clean. Like most say CLEAN sells or rents.

I am a showing agent and can list your rental for rent. You do not need to use a property manager to find a renter.

Call me if you have questions.

Thanks Jan Ratzlaff
0 votes Thank Flag Link Fri Jul 6, 2012
The most honest answer I can give is, price competitiveness rents your properties. The next most honest thing I can tell you is that marketing exposure rents your properties. The last most honest thing I can tell you is that if you are the kind of landlord that strips their properties, puts the bare minimum in for materials, and leaves small things broken and unsightly, then YES, you will have a very hard time finding a renter.

If you're looking for a good property manager, my broker/partner is highly recommended.



Sincerely,



James Bellile
iProperties International
702-222-0815
http://www.LasVegasRealEstateConnection.com
0 votes Thank Flag Link Fri Jul 6, 2012
Of course there are qualified renters. It depends where you are purchasing and what you are asking. Some investors only have a strategy to purchase in low income areas; for others, they want neighborhoods with good schools; still others have another strategy. Just bear in mind that not everyone can afford $1000 or more per month. If your properties are priced properly and the homes are nicely fixed up, they rent. So, choose your investment strategy first before you buy and then your rentals will follow.
0 votes Thank Flag Link Fri Jul 6, 2012
It's true. Putting a free ad on Craigs List will NOT work anymore. Hiring a professional property management company, one that exclusively does management full-time ill get you the right tennant and market rents. The demand is still there. It's the approach that has changed

David Cooper Since 1917 Realty and Property Management 702-499-7037
0 votes Thank Flag Link Fri Jul 6, 2012
Not true. If your home is clean, move in ready. And you are willing to price the home accordingly, to the neighborhood market value, it will rent fairly quick.

From my personal experience: If you are asking around $1000- $1200 for a three to four bedroom home, with a garage, it has clean neutral colors, it will rent fairly quick.
0 votes Thank Flag Link Fri Jul 6, 2012
We've got over 5300 available rentals in the MLS. Sounds like a lot, right? We also had over 2800 leases signed in the last 30 days and over 1000 leases waiting to be signed. Simple math says that we only have about 2 months supply of rentals.

We have plenty of qualified renters and lots of competition for decent places. When I do work with a renter, I always call the listing agent to make sure there aren't already applications twice (once before we go out there and again if they want to rent it). It's a good time to be a real estate investor.

I don't pretend I know what's going on with local apartment complexes or any of the deals that may or may not be for real over on Craigslist. Beware of scams if it's not in the MLS.
0 votes Thank Flag Link Fri Jul 6, 2012
Rental demand is strong and any well-priced rental, especially single-family homes, will rent fairly quickly. Now, if you are a looking for the perfect tenant with great credit, no dogs, high income, that is a different answer: There are many people in Las Vegas with less-than-great credit and that doesn't necessarily make them undersireable renters. They may have lost a home to foreclosure, temporary hit to income, etc. If you are a bit flexible and make reasonably cautious accommodations for credit, there are plenty of renters. If these prospectve tenants were near-perfect financially, they would be buying homes instead or renting in this hot real estate market.

Good luck,

John Brassner
Prudential Americana Group, REALTORS
Web Reference: http://HouseOfVegas.com
0 votes Thank Flag Link Fri Jul 6, 2012
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