Terra West Property Management

Hiring a property management company saves an investor time and frustration.  The trade-off is it also costs the investor.  Terra West has an initial start-up fee of $300 right out the door.  Once they’re managing a property for you, the cost is 10% of the monthly rent on that unit.  (Discounted to 8% is five or more units are managed.)  To maintain the repairs on your Las Vegas investment property, a reserve of $250 is required.  Should your tenant decide to renew, a $150 lease renewal fee is required at the beginning of the next year’s lease.  Terra West’s management also includes services like accounting, direct deposit of rent into the investor’s account, periodic inspections of properties, etc.

Occupation of your Las Vegas investment property is a must, to keep passive income flowing.  Should you decide to outsource finding a tenant, Terra West has two leasing programs, a premium residential and a basic option.  Both are mostly the same, acquiring photos of the property, having an inhouse agent find a rentor for it, post ads on local websites, and sign all the papers.  The two additional factors with the premium plan is that you have an ad placed on a local homes for rent website and receive email updates on how the process is going.  The premium plan has a fee equal to the first month’s rent, while the basic has a $20 per month ad fee, and a $350 fee once a tenant is found.  Although the basic seems cheaper, the market in Las Vegas is currently flooded with rentals, so be sure to weigh out the options of the premium vs. the basic (remembering the more your Las Vegas investment property sits vacant, the less money you’re making).

No information is listed on the website for emergencies, but as this company has several offices around Las Vegas, I imagine at the least a 24 hour messaging service is set up for electrical or water emergencies.  Should you require further information about Terra West, please contact:

Mario Malatesta Jr. ARM®, PMP, CAM
Director of Residential Property Management
Broker Salesperson, REALTOR®
Terra West Property Management
2655 South Rainbow Blvd, Ste 200
Las Vegas, Nevada 89146
702.251.4563 office
702.251.4594 fax