| Property Management Las Vegas & Henderson Nevada

Property Manager Vegas Heidi Rice — Heidi Rice Property Manager

How do I find reviews of the best Las Vegas property management companies? Who are the best property managers in Las Vegas and Henderson? Here are some reviews for Heidi Rice of Rice Real Estate & Property Management, Las Vegas’ premier investment sales and property management company. Heidi has been managing rental properties since 2001 and founded Rice Real Estate in 2010.

INVESTOR FROM CALIFORNIA: I am a California Real Estate Broker and have run a medium-size property management business of my own for 25 years. Heidi is a very thorough, professional, and responsive property manager. Her financial reporting is timely each month, along with copies of all receipts & full accounting — completely transparent. She has good control over her vendors, and I have found their pricing to be very reasonable and the workmanship to be excellent. The move-in and move-out inspections are thorough with great attention to detail. Additionally, she represented me on the sale of one rental property, including handling the minor renovation very well. Robert Harraka, CA Real Estate Broker

INVESTOR FROM CALIFORNIA: When Heidi manages your investment property, you feel like you are her only client. She is knowledgeable, dedicated, tireless, and above all, a true professional. Rice Real Estate charges fair fees and has competent and reasonably priced service providers they contract with. After managing our property, Heidi oversaw its successful sale. She really is full-service. Brandon Strauss, Attorney at US Department of Homeland Security

By utilizing our proprietary scoring card, we have never had to evict a Tenant placed into a managed rental property.

Rice Real Estate manages with an Owner’s Mindset.

Heidi is responsive. She works hard to quickly turn properties over and find quality tenants. Our company understands each day a house is vacant equates to lost rental income. On average we place quality tenants in 7-14 days and, more importantly, we have never had to evict a Tenant we screened and placed into a managed rental property.

Our efficient vendor accounts payable strategy provides us priority scheduling and preferred pricing which is passed along to the property owner. In addition, our team responds to emails and phone calls timely, tenant maintenance requests are handled promptly and owners have 24/7 access to an encrypted online portal for financial reports and secure document storage. We make sure to be informative and transparent every step of the way.

We always strive to increase owner profit while focusing on preserving the integrity of your investment. We manage with an owner’s mindset.

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Additional Reviews of the Best Las Vegas Property Management Company

TENANT OF RICE REAL ESTATE : I work in Property Management for a living, and I’m very mindful of customer services skills. I’m constantly looking for ways to give excellent quality service to the people I meet every day. I can honestly tell you that Rice Real Estate and Property Management Company, and in specific Heidi Rice, is one of the most professional and ethical property management companies I’ve ever had the opportunity to closely work with. The quality detailed service started with the processing of my application in a very timely manner within 24 hours. The home I moved into was spotless, she made every effort to have the home presented in “the best possible light”. Heidi and her crew take extreme pride in the homes that she places on the market to lease, AND IT SHOWS! I was working between two states and had very little time to go into her office during my working hours, so I was able to sign and take care of all my lease paperwork on-line. This was a tremendous value to me. After I moved in Heidi took immediate care to answer my questions in a timely manner. Lastly, Heidi would follow up with any maintenance requests to ensure that they were completed in a satisfactory manner. The professionalism, care and concern Heidi Rice and the Rice Real Estate team exhibits to their “Prospective Residents” is unparalleled in Quality Service, to any other property management company I’ve ever dealt with to lease a property! It’s been an awesome experience working with her company, and I continually feel in each of my interactions with them, that I’m in “Good Hands”! Denny Reed, Tenant

INVESTOR FROM CALIFORNIA: I would recommend Rice Real Estate to anyone in need of professional residential property management services. Heidi and her team are very professional and having them manage my six investment properties has given me tremendous peace of mind. Heidi strictly screens all applicants and has set criteria that she follows to ensure we only rent to high-quality tenants. If any problems arise during the tenancy, or with my property, Heidi has always taken care of the issues – informing me of each step along the way to resolution. Her accounting is easy to understand and her owner draws are timely. Heidi is very attuned to the local real estate market and has provided me with information from time to time to keep me informed. I am lucky to have found Heidi from Rice Real Estate and Property Management in Las Vegas as she continues to exceed my expectations with her diligent and focused work.
Jacob Pullen, Pullen Insurance Agency

Property Manager Las Vegas — Property Manager Vegas

PROPERTY OWNER FROM CALIFORNIA: Heidi is WONDERFUL! I cannot say enough good things about how easy she made the process of buying an investment property in Las Vegas. I am always hesitant about what I find on the internet but SHE WAY EXCEEDED my expectations! Being an out-of-town investor required that Heidi educate me on the local investment market, locate and schedule tours of about a dozen properties – all within one week. I telephoned her on Tuesday. Saturday and Sunday we toured properties, made an offer on Sunday, and were in escrow on Tuesday. She was so efficient that I decided to let her perform the property management tasks. It has now been 3 months and everything is running smoothly. It really does not get any better than this. John LeBlanc, Director PVP Advanced EO Systems

VENDOR of RICE REAL ESTATE: I have worked with Heidi Rice for over 10 years now. She has always been very professional. She is very quick with any communication and correspondence. As a vendor, she is amazing to work with, but I can see the benefits as a homeowner and a tenant. Heidi wants the best for her clients, she looks for the best value for her homeowners while making sure they are getting the best service for an affordable price. For tenants, she is quick to handle any problems that might come up and is communicating frequently to find a resolution. Heidi is the best property manager I have worked with and I work with them daily. I am very impressed with her. Amanda Hays, Legacy Air

TENANT REVIEWS OF RICE REAL ESTATE

TENANT of RICE REAL ESTATE: Heidi has been great! She is very thorough, friendly, and attentive. She made sure we were completely satisfied and got what we wanted with our rental. She is great to work with and we highly recommend her to anyone else looking for a rental home in Las Vegas! It’s been an all-around great experience since the beginning and continues to be! I would definitely rent from Rice Real Estate again. Review by Shelby Brock, Tenant

TENANT of RICE REAL ESTATE: Great company to rent a property through. Very friendly and attentive, and extremely fast at responding to issues and emergencies. When we were trying to relocate to Nevada from out of state we found it very hard to find anyone who followed through for us. After contacting Rice Real Estate, my husband was able to find exactly what he was looking for and get the paper signed quickly. It has been a pleasure ever since. Review by Jennifer Fine, Tenant

Q&A For Vegas Property Management

Monthly management fees are just one component of selecting a Las Vegas property management company. Tenant retention, efficient tenant turnover, and effective tenant screening are items that greatly impact a landlord’s profits and they won’t show on a financial statement. Having the right property manager will boost long-term profits for a landlord. Selecting a property manager based solely on the lowest management fees can end up hurting your bottom line more than you think. Or going with the biggest property manager managing hundreds or thousands of units and getting lost in the shuffle.

Questions to Ask a Property Manager in Las Vegas

1) How Are Property Management Applicants Screened?

Our strongest work must take place with the screening process. Securing great tenants is in everyone’s best interest. Using our proprietary resident screening process (and proprietary scoring card) we analyze income, credit worthiness, debt to income ratio, rent payment history, cash reserves of monthly rent, employment history, background/eviction check and other factors that indicate the likelihood the tenant will perform according to his/her obligations under the lease. Our resident screening data includes insight from our proprietary records along with an applicant’s eviction records, address history, criminal records, identity fraud and credit data. The key to a comprehensive evaluation of risk is a thorough evaluation of the resident, property and portfolio. Unlike rules or judgment-based tools or methodologies, our statistically validated scoring model and analytical tools give our team a forward-looking view of many key risk factors. Our goal is to always place residents who will pay on time and honor their lease obligations.

2) How Do Property Managers Market and Advertise Houses for Rent?

Rice Real Estate is serious about finding highly qualified tenants and does everything possible to capture the greatest applicant pool. Our rental properties appear on numerous websites and we advertise to 14,000+ local agents. Unlike most of the property management companies in Las Vegas we understand the importance of being available when the prospective tenant has the time. For this reason, we answer and respond to phone calls, text messages and emails every day of the week, including Saturdays and Sundays. Rice Real Estate’s average days on market for a “rent ready” vacant property averages 7-14 days.

3) What is a Rent Ready Property?

The property’s condition is one of the most important aspects of marketing a vacant rental property. Properties that are not “Rent Ready” when they’re placed on the rental market tend to be slower to rent and attract renters who are not only willing to settle for less than top quality, but who treat their rental properties with less care and concern than we want to achieve for our owners. Furthermore, quality renters typically can’t envision what the property will look like after we do this or that…telling the prospect we’re going to be painting, or going to be replacing carpets is virtually useless. The first impression of a vacant property is the lasting impression of that property. That’s why we urge our owners to take care of the basics: fresh paint, clean floor coverings, functional window blinds, and everything in good working order.

4) Do you Allow Pets in Rental Properties?

An Owner makes the final decision if pets are allowed in a rental property. However, keep in mind that 65 – 70% of tenants will have a pet of some type. If you do not allow pets, you are immediately negatively impacting your market. We can certainly still rent your home but it might take a little longer so you could experience extended vacancy and therefore lost rent. If you do allow a pet, a pet addendum will be signed and additional security deposit is required. Do not confuse a pet with a service animal. We cannot discriminate against service animals, so we will absolutely rent to a tenant with a verifiable service animal. We cannot take any additional security deposit, nor can we decline any specific breeds that we might otherwise not allow in our properties. We verify service animals via a 3rd party pet screening company www.petscreening.com

5) Where is the Tenants Security Deposit Held?

Nevada law requires a Las Vegas property manager to hold tenant security deposits in a trust account separate from owner funds.

Heidi Rice: Broker, Property Manager & Realtor©

Heidi has been managing residential real estate since 2001. In 2010 she moved to Las Vegas with her husband Mark and opened a residential real estate brokerage focused on investment sales & property management.

Heidi is a very thorough, professional, and responsive property manager. Her financial reporting is timely each month, along with copies of all receipts & full accounting – completely transparent. She has good control over her vendors and the workmanship is excellent. The move-in and move-out inspections are thorough with great attention to detail.

Heidi is dedicated and highly skilled. She has always had a passion for real estate investing and she is living her dream life as an investment focused property manager in fabulous Las Vegas, Nevada. Contact her directly to confirm your property is in her management service area: 702-551.9592 ext 700 or via email.

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Have you ever wondered how using a 1031 Exchange to purchase investment properties in Las Vegas worked?

Section 1031 of the Internal Revenue Code has been called the single greatest wealth building tool available to real estate investors. If you are unaware how Section 1031 of the IRC can magnify your returns and help you create wealth, review this:

An investor who purchases $100K worth of stock in 2010 and sells the stock today for $200K. The investor yields a whopping 100% return, correct? Well yes, but don’t forget that when tax time comes around, our stock market investor will owe the IRS and State Taxing Authority about $30K. After taxes, the profits from his stock investment plummets from $100K to $70K. Still not a bad return, but after taxes the investor now has only a total of $170,000 to reinvest.

Now let’s contrast this with an investor who makes the same returns in the real estate market. A property purchased for $100K, appreciates to $200K. The investor earns the same 100% return. The major difference however, is the investor can elect a 1031 Exchange and defer the capital gains taxes. Doing so leaves the investor with a total of $200K to reinvest.

The above example is the type of exchange most investors think of when they hear 1031 exchange. Did you know there are many more types of exchanges? First, let’s take a look at this history of exchanges.

History and Benefits of Tax-Deferred Exchanges

Tax-deferred exchanges originated in 1921 as simple two-party barter exchanges. Over the passing decades tax laws changed by requiring exchanges to be multi-party transactions. In 1991, the Internal Revenue Service (“IRS”) formally defined the role of the “Qualified Intermediary.” The Qualified Intermediary is also known as an Accommodator or Facilitator. Investors should seek out a Qualified Intermediary capable of handling the proper execution of necessary documentation as well as informing investors of the various facets of exchanges.

Today §1031 of the Internal Revenue Code governs exchanges. An exchange typically involves a Qualified Intermediary receiving the sale proceeds of the property the investor wishes to sell (“relinquished property”). The investor then instructs the Qualified Intermediary to purchase the new property (“replacement property”) and convey title to the replacement property to the investor. Commercial, agricultural, industrial, residential or vacant land may all be exchanged. By properly effectuating an exchange, the investor can defer the realization of capital gains on the sale of the relinquished property.

This deferral allows funds that would have otherwise gone to pay capital gains tax to be allocated toward a greater investment. An investor is also permitted to defer the 25% tax on the recapture of depreciation taken on an investment property when they elect to effectuate a §1031 exchange.

TYPES OF EXCHANGES

Delayed Exchange

A delayed exchange is the most common type of exchange. Certain IRS requirements must be met to structure a delayed exchange. Under this arrangement an investor may take advantage of the full exchange period to acquire a replacement property.

Simultaneous Exchange

A simultaneous exchange occurs when the relinquished property and the replacement property are transferred concurrently. Some investors erroneously believe that two transactions closing on the same day satisfies the exchange requirements. Although ERI does not hold funds in a simultaneous exchange, it functions in the critical capacity of creating a reciprocal trade by receiving the relinquished property and acquiring the replacement property for the investor. ERI provides an essential paper trail validation of the flow and structure of the transaction, ensuring the preservation of “safe harbor” treatment for the deferral of capital gains. It is strongly recommended that a Qualified Intermediary be employed to ensure the validity of a simultaneous exchange.

Build-to-Suit or Construction Exchange

An investor may choose to improve a replacement property by building a structure or making improvements to an existing structure on the property. As with any exchange, the exchange must be opened prior to the close of escrow on the relinquished property. Despite the complicated
and time-consuming nature of this type of exchange, it can be properly executed.

Reverse Exchange

Reverse exchanges are the most complex type of exchange. Such an exchange permits the investor to acquire their replacement property before the relinquished property is sold. Under no circumstance may an investor be on title to both properties simultaneously. In September 2000, the IRS indicated that a reverse exchange would be permitted if the transaction fell within the scope of “safe harbor” protection.
The durational requirements of the “safe harbor” require the identification of the relinquished property within the 45-day identification period and the sale of the relinquished property within the 180-day exchange period. The trigger date for these periods is the “parking” of either the relinquished or replacement property with an Exchange Accommodation Titleholder (“EAT”). Reverse exchanges are effectuated in one of two ways depending on which property is to be “parked.” Under either scenario, the parked property must be held by the EAT for federal income tax purposes.

Finding a Qualified Intermediary

A CPA with 1031 exchange experience, a real estate attorney, or a reputable title company can be good sources for referrals to qualified intermediary services. Another excellent source for finding a knowledgeable qualified intermediary is through the Federation of Exchange Accommodators (FEA). The FEA has a qualified intermediary certification program with a directory of its members that are Certified Exchange Specialists.

We’ve personally worked with Exchange Resources, Inc based in Southern California. Exchange Resources, Inc. is one of the largest independent Qualified Intermediaries in the nation serving individual and institutional investors across the country and abroad. ERI has attorneys on staff who provide personalized attention to complex issues and are available to discuss exchange matters with investors’ tax and legal advisors. ERI also provides information in Spanish. ERI’s routinely helps individual investors with their exchange needs.

Rice Real Estate & Property Management

If you’re interested in using a 1031 Exchange to purchase investment property in Vegas give Rice Real Estate a call. We can help you source a residential investment property for purchase and help you manage it long-term.

The material in this article is presented for informational purposes only. Rice Real Estate is a licensed real estate brokerage in the state of Nevada. Rice Real Estate performs the duties of a licensed real estate brokerage and permitted property management company. We do not offer 1031 exchange, legal or tax advice.