Buying an investment property in Nevada is a financially wise decision. And not only because it's a valuable asset that can provide you with a significant passive income. On top of that, it can be a stress-free occupation. You can run a rental business any way that suits you. However, to ensure everything goes smoothly, it's better to choose the location carefully. Both local and long-distance landlords face different challenges and enjoy different benefits. Before you decide, it's best to consider both options. With that in mind, we've decided to examine both possibilities and help you make the right choice. So, local vs. long-distance investing: which is better for Nevada landlords?
How to make the right decision?
Firstly, before you start searching for the right property, you need to ask yourself a few questions. Knowing the answers will help you make up your mind and make a sound decision. So, ask yourself the following questions:

• What are your overall financial goals?
• Are you interested in cash flow, appreciation, or both?
• Are you planning to self-manage, or would you rather hire a property management company?

Decide on your financial goals
So, what are your financial goals? Do you want to get out of debt, gain independence, or accumulate wealth? To answer this question, you need to first assess your current finances. Then visualize where you want to be in the next five, ten, or twenty years. Knowing this will help you focus your investing in the right direction.

Choose the right market
Next, you need to decide on the right market. For example, you might want to have a high rent-to-value ratio. In that case, you should choose a cash-flow market that will provide you with valuable income. Or, if generating the cash flow isn't your priority, you might want to choose a market with a potential for long-term appreciation. Lastly, hybrid markets offer a mix of both options. Of course, what you decide on depends on your long-term goals.
Self-management or using property management?
To determine your real estate strategy, you need to answer this question. Maintaining the property and dealing with tenants can be pretty overwhelming at times. From the potential renovation of the property to tenants losing their keys for the n-th time, self-managing demands a lot of effort and work.
 
However, some landowners prefer to be in charge and gladly take on these responsibilities. If that is the case with you, there is no dilemma. In local vs. long-distance, local investment property is a clear winner.
 
On the other hand, if you'd rather hire a third party to manage your property, both options may work for you. In that case, the key is to find an experienced property management company you can rely on. Whether you choose a local or long-distance property, you'll be able to save both time and effort while they manage your rental business for you.

Local investment property
Now, let's have a closer look at what you can expect from buying a local investment property.
Familiarity with the market
The first and most obvious advantage is that you're more likely to be familiar with the market when you're investing locally. Every local market is unique, and knowing little flows and trends can help you invest in the right property. You'll know all the local attractions and amenities that are likely to attract tenants. However, doing proper research is still a must.
You'll have more control
This is crucial for many landlords in the local vs. long-distance dilemma. While it's not impossible to manage your property long-distance by yourself, it's certainly more demanding. On the other hand, you can choose a more hands-on approach as a local landlord. For example, you can meet with your tenants when necessary, show your property in person, and perform an inspection of the property.
You can hire local contractors when necessary
When you delve into investing in real estate, you're bound to need contractors at some point. Whether you want to remodel that fixer-upper or need some repairs, finding the right contractors locally is much more manageable. Firstly, you can choose them yourself and ensure they're suitable for the task. Secondly, they're less likely to try and take advantage of your absence.

Long-distance investment property
However, long-distance investments also come with their own set of advantages and drawbacks. Let's have a proper look.
A wider range of investment opportunities
Depending on where you live, your local market might not be able to offer you what you want. What if you need cash flow but live in an appreciation market? On the other hand, if you don't limit yourself, you can opt for a more profitable market with a higher return on investment.
 
If you find the right property in other parts of Nevada, you might even want to relocate there! If the business proves very lucrative, this might be an excellent idea. However, if you want to live nearby, ensure you plan your long-distance relocation with care. From packing your belongings to hiring trustworthy movers - many tasks will require your attention!
Use a property management company
Of course, you can do this on a local level, too. However, limiting yourself may lead to losing some excellent opportunities. And if you plan to hire property managers in either case, a long-distance investment can be a better choice. There are many reasons to hire property managers! Although it may seem a more expensive option at first, it can save you money in the long run. Especially if you don't have a lot of experience - they'll ensure your tenants are satisfied and your property in good condition.
You can use your property for a variety of purposes
While your goal is mainly to rent your property to tenants, you can also use it as a vacation home in between. Or, your kids can use it when they start college - no accommodation worries! And lastly, you might choose to relocate or retire there someday.
The bottom line
As you may see, there are many things landlords should consider when it comes to local vs. long-distance investing. Both options come with their unique advantages and issues. However, once you know your long-term goals and preferences, you'll be able to make the right choice.
Meta description: Buying the right investment property is not an easy task. Find out which is better for landlords - local vs. long-distance investing!

​There are many reasons why someone would consider hiring a property manager. There are also many reasons why people rent storage. Both of these options come with numerous benefits. However, not many people consider that a property manager can benefit from a storage solution, too. To understand how, we will first go over why people hire property management services and how property owners take advantage of self-storage options.

Owning a rental property comes with many responsibilities. Sometimes, property owners don't have sufficient time to handle them all themselves due to their work and family obligations. Moreover, if they own multiple rental properties, managing them all successfully becomes downright impossible. 
Here are some of the most significant benefits of hiring a property manager:

• Tenant screening. Property managers will ensure you only rent to quality tenants, who will pay the rent on time, stay there for a longer time, cause few problems, and take care of your property. 
• Reduced vacancy rate. Tenant turnover is costly. After every tenant, you have to pay for cleaning services, change the locks, paint the apartment, and take care of necessary repairs. Long-term tenants reduce those expenses drastically. A property manager will know how to market your rental, determine a competitive rent rate, as well as oversee the necessary improvements.
• Liability issues. A property manager is familiar with all the state and federal laws. So, they know all the procedures regarding tenant eviction, lease contracts, inspections, rent collection, security deposits, etc. It will help avoid legal issues with your tenants.
• Handling unpleasant situations. In case of any issues, a property manager will know how to behave and what actions to take. For example, they will have no problem saying no if a tenant wants to get a pet and your apartment is not pet-friendly or let a friend move in. They will also ensure you are not taken advantage of in any way.
• Freedom to do whatever you want. You can live in one place and invest in properties in another. You can have a long holiday without worrying about who will take care of potential issues, or focus on your family and do whatever you want with your free time. 

​Renting storage is most often a solution to the lack of space in your home. You can rent a storage unit for various reasons, depending on what is going on in your life. Below are some of the most common reasons why people need storage solutions, be it long-term or short-term:

• Decluttering. Reducing the clutter in your home is one of the principal reasons for renting a storage unit. You can use it for seasonal items or things you are unsure whether you want to keep or it's best to sell or donate them.
• Moving to a new home. If you are downsizing and won't have enough space for all your belongings, self-storage is a good option for items you are not ready to part ways with. Also, your new home may not be ready yet, so a storage unit is a perfect way to keep your items safe until you are ready to move in. 
• Renovating. If you are doing some works around your home, the best way to keep your items safe from dust, dirt, and harm is to put them away. A storage unit will also help you maintain relative normalcy in your home while the works are underway. 
• Starting a hobby. If you can't make space for your new hobby in your home, a storage unit is an excellent solution. 

Whatever you use your storage unit for, make sure to keep it organized and tidy. What's the point in having all that extra space if you can't find your way around it?

​You may wonder how a property manager can benefit from a storage solution when the property they manage is not theirs. So, if there's anything to be placed in storage, it's upon the owner to do it. Also, if a property manager rents a unit for personal reasons, it's not like they benefit from it as a professional.
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Well, you will be surprised that, indeed, a property manager can take advantage of some extra storage space.

​As a property manager, owning some large machinery that has no place in an office may be necessary. It could be a professional vacuum, a lawnmower, or some tools. If such items were in your office, you would seem unprofessional. Moreover, jumping over such equipment can be hazardous. You have an option to rent a bigger office space that has a storage room, but it would be much more affordable to rent a storage unit. 

​You never know when a tenant will need your assistance or when a landscaping or cleaning team will need to access the equipment. If you have a viewing scheduled in the morning, your teams can pick up the equipment whenever is convenient and prepare the property before potential tenants arrive. 

​If a tenant brings their piece of furniture or wants to remove something from the rental, you have a solution to offer. Also, when tenants move out, they may leave some of their bulkier pieces behind. Your option may be to donate these items, but you can put them in storage for a while as well.

​Sometimes, a rental property will have to be repainted, some repairs will have to be done, or even some remodeling. Then, the best option is to keep all the furniture and appliances safe from harm. 

​You may want to have spare doorknobs, locks, faucets, or similar items in store if you need to replace them quickly. Buying such items in bulk can be a budget-friendly solution because you will be able to get them at a discounted price. Moreover, you can keep leftover paint and other materials until you need them for the next project.

​A property manager can benefit from a storage solution like any other person. Having extra space at your disposal for unexpected circumstances or storing bulky equipment is always advantageous. Ultimately, it can make property managers seem more professional and allow them to react swiftly in case of any trouble. All this can help property managers establish a great relationship with their clients and ensure long-term cooperation. 

Renting comes with many advantages, but the freedom to customize your living space according to your needs and preferences certainly isn't one of them. When a hefty safety deposit and a strict lease agreement are watching your every move, turning a rental into a home becomes a much more daunting task. Still, there is no reason to despair, even if you are still not ready to upgrade from tenant to homeowner. There are many budget-friendly ways to personalize your rental home that won't aggravate your landlord or your wallet. Stay tuned to see what they are.

Add some color to the walls
A fresh coat of paint can do wonders for transforming your living space. Owners typically opt for white or other neutral shades because they are universal and easy to paint over in between tenants. If this is too dull for your taste, you can always kindly ask your landlord to switch things up. If they are not too keen on the idea, offer to repaint the walls in the original color before the time comes to move out. Yes, this will be an extra expense you will need to account for, but since there are moving services for different needs and budgets available, you should be able to make an affordable plan without sacrificing anything.

Create an accent wall with removable wallpaper
This list of budget-friendly ways to personalize your rental home can't go without wallpaper. Removable wallpaper is a fantastic way to bring some color and style into your living space. There is a variety of colors, patterns, and even textures to choose from, so finding something that matches your taste shouldn't be an issue. You can even use it to upgrade the bathroom! Just be very careful when removing it if you want to get your security deposit back. If you chip or damage the walls, end-of-tenancy cleaning won't be your only issue when you decide to move.

Upgrade the lighting
Lighting plays an essential role in interior design. However, rentals usually cover only the bare necessities when it comes to illumination, be it natural or artificial. Luckily, addressing this issue is neither hard nor expensive.
You can find beautiful lamps and lighting fixtures on various online marketplaces and thrift stores for ridiculously low amounts of money. LED strip lights are an excellent solution for task lighting in the kitchen or bathroom. When it comes to wall and ceiling fixtures, you can opt for pendant lights that you can customize and arrange according to your liking if you are not allowed to install more.
Additionally, make sure to remove or replace your blinds and add airy curtains that will allow more sunlight into your living space.

Replace the hardware
Door knobs and cabinet pulls might seem insignificant, but they can really help you personalize your rental home. You can find cheap hardware online. The fact that replacing it requires minimal effort makes this trick even more attractive. Just make sure to store the original knobs, handles, and pulls in a safe place to avoid losing them.

Add a removable backsplash to your kitchen
Rarely will you find a rental with a kitchen backsplash that is just according to your liking. Luckily, you can easily address this with a removable backsplash. It will protect the walls from accidental spills and splashes and make the move-out cleaning significantly more manageable. Moreover, since it is so cheap, you can simply replace it once you get bored of the pattern.

Upgrade appliances and cabinets with contact paper
While there probably isn't much you can do about the appliances and cabinets in your rental, there are ways to make them look a bit more presentable. Contact paper! Simply clean and dry the surface you want to cover and carefully stick the paper to avoid air bubbles and creases. If you take your time with this, you might even convince your friends that you finally got that expensive stainless-steel fridge! When the time comes to move, simply remove the contact paper and no one will ever know.

Cover ugly flooring with area rugs
Since flooring isn't exactly cheap or easy to fix or replace, landlords typically don't address them unless absolutely necessary. As a result, many rentals have less than stellar floors that really affect the home's vibe. If this is the case with your apartment - there is no reason to panic! Area rugs can be a cheap and easy fix for this issue. Layer different sizes, colors, and shapes to cover the ugly spots and add a dose of coziness to your living space.

Personalize your rental home with plants
When it comes to home decor, plants are always an excellent choice. They are affordable, versatile, and capable of brightening up even the dreariest of places.
If you don't have much experience keeping them alive, know that many low-maintenance options thrive on neglect. Make sure to choose the plants that can survive with the conditions you will provide them. This means that succulents are probably not an ideal choice if your rental doesn't get much sunlight. Additionally, put your green friends in some cool planters, and place them on your shelves, hang them, or even use them to cover up the eyesores.

Don’t assume you can’t change anything
While there are many budget-friendly ways to personalize your rental home, they might not be enough for you. If you have more complex ideas in mind, don't just assume that you can do nothing about them. It's true that most landlords aren't big on allowing their tenants to make significant changes, but that might not be the case with your landlord. A kind approach, alongside responsible tenant behavior, could be enough to persuade the owner to loosen up the rules. Remember to be realistic about your demands and always offer to return the property to its previous condition. However, if your landlord won't budge and you simply don't feel at home in the rental - don't despair. There are many properties out there, and, with a bit of help, you will surely manage to find something that satisfies your needs and wishes.

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Flipping your first house is a thrilling undertaking. After putting in the hard work of choosing everything from the flooring to finding the perfect finishing decor, you should feel proud of your major accomplishment. Once you approach the end of your project, however, you are faced with one final decision: Sell the property or rent it out?
 
If you are torn between these two options, here are several important questions for you to consider.
 
How is the current housing market in your area?
One of the most significant factors in your decision to rent or sell should be the current housing market in your area. Do research to find out the following: Are home prices slumping, or are homes selling for a reasonable (or higher than normal) price? What is the current demand for rental properties in the area? What is the future outlook for home and rental prices?
 
Gathering data like this will help inform your decision. You can use this information to quickly assess whether renting or selling would bring you the highest profits. When it comes to flipping houses, knowledge is power.
 
Do you have the time to be a landlord?
For many individuals who flip houses, another major determining factor in renting or selling is the time they have available to dedicate toward being a landlord.
 
Landlords are responsible for the majority of repairs needed in a home or apartment. At a moment’s notice, you may need to replace electrical wiring, handle a plumbing emergency, or replace an appliance. Thankfully, those who don’t have the time to work as a landlord can hire an experienced property management company like Clark Real Estate. Property management companies handle most of the time-consuming duties involved in renting a property — including tenant screening, rent collection, and repairs.
 
If you instead opt to be the landlord of your property, ensure that you have plenty of extra funds saved. The cost of emergency repairs can quickly add up, so it is important to have enough in the bank to cover these expenses and that you work with qualified professionals to make repairs. For instance, if your rental property needs window repairs or replacement, you can find local contractors through Angi.com and view customer testimonials and feedback. Before hiring a service, insist that they’re licensed and insured and can provide you with referrals upon request.
 
What are your long-term financial goals?
If this is your first investment property, you may have not established long-term financial goals for this project. However, setting financial goals for yourself and for this property is critical in helping you decide how to move forward.
 
For example, are you looking to make a lump sum to reinvest into your business? This option makes the most sense if you are formally starting a career or side hustle as a house flipper. The cash that you will receive from the sale of your property will not only pay off any outstanding renovation bills, but it will also give you a large chunk of money to use on the next house you plan to flip. If you instead want this property to provide you with a stream of passive income, renting will always be the best choice. For as long as you desire, you can generate funds from this home with no extra work involved.
 
What do you plan on doing with any other fixer-uppers that you purchase?
Finally, consider your plans for any future fixer-uppers you plan to buy. Was this a one-time project, or are you planning to flip homes regularly? Do you want a mix of rental properties and ones that you decide to sell? Having this plan in mind will allow you to decide whether to rent or sell this current home and all future homes you purchase.
 
The finality of making the decision to rent or sell your fixer-upper can feel daunting. When you ask the right questions, and do plenty of research, you can rest assured that your final decision is the right one.
 
Clark Real Estate offers full-service property management services for property owners and investors in and around Reno. Call (775) 828-3355 to learn more!
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In the world of real estate, having a rental property is an excellent investment. You will benefit not only from long-term investment returns but also from interim income. This is why many investors are looking for rental opportunities. However, being a landlord is not an easy job. It can be pretty demanding at times because it requires many skills and knowledge about real estate. So, if you're having a hard time being a landlord, you should definitely consider hiring professional help. Read this article to find out about 5 signs that show it's time to hire a property manager!

You don't have time to manage 
One of the main reasons landlords choose to hire a property manager is they simply don't have enough time to manage their investment. More often than not, being a landlord is not a full-time job, but it sure is time-consuming. It comes with regular responsibilities and requires total commitment. This being said, if you have a full-time job, managing your rental property as a side job can become an issue.

Another problem can appear if you have multiple rental properties. The more properties you're leasing, the bigger management needs you'll have. It's hard to keep up with one; imagine with two or more! Therefore, it's highly beneficial to hire a professional in situations like this.

You have a problem with tenants 
Being a landlord means choosing reliable and responsible tenants who will be respectful of your property. Unfortunately, this is harder than you think. As a landlord, you might face a lot of unpleasant situations. Here are the most common examples:

• Paying the rent: It's not unusual for tenants to be late with rent payments or avoid paying it altogether.
• Disrespect of your property: Sometimes, they will not take care of your property, so you'll have additional costs.
• Complaints from the neighbors: Your tenants may be accused of making loud noises, playing loud music at night, not acting according to the house rules, or other unpleasant behavior.

This is why it's essential to do proper screening in order to prevent and handle the recurrent problems with difficult tenants. If you don't have the skills for this kind of job, make sure to hire a property manager for fast and professional solutions to your problem.

You don't live nearby
Not living in the area of your rental property can turn into a problem when it comes to being a landlord. The distance can intervene with your management obligations. For example, even if the property is in excellent condition, there will be times when you need to drop by and pick something up or inspect the building. You will be unable to respond to these emergencies if you don't live nearby. As a result, anyone who lives far away from their commercial property should think about contacting a professional manager to keep an eye on it. Hiring a property manager eliminates the need for you to commute back and forth every time your tenants need something. You'll be able to rely on the manager and their expertise when it comes to managing your property without your supervision.

You're struggling with leasing 
As an investor, you want to make the highest possible profit from your investments. If you're renting a commercial property, this means you'll have to have tenants at all times. To make this happen, you have to meet the tenants' needs and keep up with the current real estate trends. Learn about what's hot on the market at the moment, how you can interest potential tenants for your apartment, what you can do to improve it, etc.

Every good property manager has this kind of knowledge, so it would be a good idea to hire one for some expert advice on the matter. Tenants may relocate for a variety of reasons, but the property managers can assist in lowering turnover. They know how to make tenants happy and keep them from looking for a new place to rent. Additionally, they will definitely have good marketing strategies and a network of interested tenants to occupy your property. All things considered, hiring a property manager is a win-win situation.

You don't know anything about rental laws
Every successful landlord should know the local landlord-tenant laws. Every municipality has its own regulations when it comes to the relationship between the landlord and their tenants. In a nutshell, these regulations are the guidelines on what your obligations and responsibilities are as a landlord, and they apply to tenants as well. So, before renting a property, you should get to know these regulations very well. If you don't have time for this, or you're having problems with understanding and applying all the rules, you should definitely consider hiring a professional property manager. They will know these rules by heart, and they'll take care of everything you are having trouble with.

Additionally, property managers can help you with getting all the legal documentation you need for your rental property. As a landlord, you'll have to get a few licenses and follow proper regulations when it comes to your property. All this can be a bit overwhelming, so it's a good idea to have a professional take care of it. They know every code and regulation, and they can help you obtain every license you need. It's also convenient because the property manager will make sure everything's done according to law, so you won't have problems in the future.

Are you ready to hire a property manager?
Based on the above mentioned information, we can all agree that being a landlord is a demanding and time-consuming job. It requires a diverse skill set and proper knowledge of the real estate market and its constantly changing trends. Therefore, if you're struggling with any of the things we mentioned in this article, it's time to contact a property manager to help you take the management obligations and stress off your plate. This would allow you to continue expanding your business without dealing with minor problems that can quickly escalate into major headaches. So, don't hesitate and make that call!