Should You Hire a Property Manager or Manage Your Las Vegas Rental Yourself?

What Does a Self-Managing Landlord Have to Handle?

Self-managing means you carry out Nevada's landlord duties yourself. A few come up with every lease:

• At or before the start of the tenancy, the tenant must receive in writing the names and addresses of the people who manage the home and the owner. You also owe them an emergency number for a responsible person who lives in the county or within 60 miles (NRS 118A.260(1)).

• The home must stay habitable throughout the tenancy, including working plumbing, hot and cold water, heating and electrical systems (NRS 118A.290(1)).

• Except in an emergency, you must give at least 24 hours' notice before entering and enter at reasonable times during normal business hours, unless the tenant agrees otherwise (NRS 118A.330(3)).

• The security deposit, including any last month's rent, can't exceed 3 months' rent. After the tenancy ends, you owe an itemized written accounting and any remaining balance within 30 days (NRS 118A.242(1) and (4)).

• Fair housing law prohibits refusing to rent, setting different terms, or advertising a preference because of protected characteristics, including familial status and disability (NRS 118.100). In practice, that means written screening criteria applied the same way to every applicant.

Then there is the day-to-day work. Before a lease is signed, someone has to price and market the home and handle showings and screening. After move-in come rent collection and repair calls, and later a renewal or a move-out.

When Does a Property Manager Make More Sense?

A manager tends to suit owners who live out of state or work long hours, and owners with several homes. It also suits anyone who wants a documented process run by someone who handles Nevada leases every day. If you'd rather not be the person a resident calls when the air conditioning stops working in July, that is a fair reason too.

What Should You Compare Between Managers?

Compare what's included and how the work gets done. Start with how your money is held and how repairs are approved. Then look at how often you'll see statements and how residents reach the firm, and read what the agreement says about leaving. Our guide to questions to ask before hiring a Las Vegas property manager has a full checklist, including how to check a license on the Real Estate Division's License Lookup.