Because Las Vegas has experienced tremendous growth over the past generation, the number of individuals who have been able to afford new homes, condos, and other residential properties has skyrocketed. This has led to a proliferation of property management companies seeking to weigh in on the real estate boom. Nothing wrong with the entrepreneurial spirit–it’s what we all know and love about America. Yet with an entrepreneurial spirit must also come a spirit of integrity and ethics, and that is something that can actually be difficult to find in Las Vegas. The problem with most property managers in Las Vegas is that their business model is self-centered and not focused on improving the community and helping owners to receive the best value rental income.
Property management is not easy. When done right, it is a labor of love. People who get into property management actually enjoy working with people as much as they love investigating the market and new neighborhoods. Property managers need to tune into people, find out what they are looking for and how to meet those needs. A homeowner who has recently left Las Vegas and wants to hold onto their home as a long-term investment might seek out the services of a property manager. Their choices in property management companies are many, and if they choose wrong, they could end up with a firm that is simply holding on until the homeowner is ready to sell so they can pounce on the commission. A property management company that only does property management and nothing else is a rare case indeed. Property management is totally different from real estate sales. It is about working with homeowners to turn their investments into profit, while also helping the surrounding community in Las Vegas to thrive.
