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A Message from Greg Paielli
 Dear Client,
Customer, & Friends
Hello and welcome to our spring newsletter. As the holidays
have pared down it is now the best time to get back to business and start
the New Year in the right direction. I have read some interesting article
from Kiplinger, a financial news publisher who said that Las Vegas, NV.
have the largest renter population and rental vacancy rate and the
highest income among renters of the top 10 US cities for affordable house
rentals. The current vacancy rate in Las Vegas is 14% with over 43% of
households occupied by renters with an average income of $40,400. The
results of these stats are in the fact that many investors came to Las
Vegas and purchased gluts of cheap homes and then turned them into
rentals. The trend is now changing as many of these investors are slowing
down in the purchase of these homes because they are unable to make large
profits as the average house price continues to rapidly increase.
As always, thank you for taking the time to read our
newsletter and visiting our site. Your business is invaluable and your
referrals are always highly appreciated. Should you need assistance
regarding your property management needs, short selling your home,
purchasing a new home, or any general questions, please feel free to
contact me. We are here to serve you!
Thank You,
Greg Paielli
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A fire can be devastating for anyone; each year thousands
are injured or die in home fires. Although you cannot predict a disaster,
the majority of the time, a fire in a rental property does not have to
happen. Preventing a fire in a residence involves teamwork between
property owners, the property manager, and residents.
As your property management company, we do our very best to
ensure that the smoke detectors are working, necessary maintenance is
completed, and that tenants are counseled on their responsibilities
toward preventing fires. However, the property owner needs to take a
proactive role in fire prevention as well. Taking practical steps inside
and outside the property is important to avoid liability and property
loss.
Fire Prevention Tips for INSIDE a Rental Property
Every property has different maintenance requirements. Many
older properties have outdated electrical, heating and air-conditioning
units, and more. It is also important to use qualified repair people to
reduce your liability. Below are items we address as soon as possible.
- Install working smoke alarms and provide fire
extinguishers. Even if a fire happens, you don't want to have an
unnecessary tenant injury or death.
- Change out overloaded circuit breakers, panel
boxes, or fuse boxes immediately.
- Repair any loose or defective wiring immediately.
- Flickering lights or intermittent power surges
that frequently occur can indicate a bad connection or a short in
the circuit.
- Fix breakers that "trip" or fuses that
"blow" frequently. This is often a sign of an overloaded
circuit or other wiring problem, usually of a serious nature.
- Check individual breaker connections, especially
in outdoor panel boxes. They should be checked for corrosion, signs
of thermal damage (smut or smoky residue near terminals), and
splices that are poorly taped, chafed, and damaged in wire
insulation.
- Repair wiring in attics and crawl spaces damaged
by pests or insects. Some old wiring is insulated with a material
that insects eat or chew on; squirrels or other rodents will often
chew the thermoplastic insulation off modern nonmetallic cable
(Romex).
- Natural gas/LP gas systems should be checked for
loose fittings, leaking valves, faulty pilot lights, debris or
improperly stored flammable materials in areas near these
appliances. If there is a smell of gas or a leak suspected, a
professional should immediately inspect gas plumbing (pipes),
valves, and regulators.
- Have periodic checks of air conditioning and
heating units repaired as needed. This can prevent a fan motor from
being overworked, and save money in the long haul.
- Window air-conditioners should never have
extension cords.
- If there is a fireplace, have a periodic
inspection of the chimney and the condition of the fireplace.
Fire Prevention Tips for OUTSIDE a Rental Property
Fires can easily happen outside the property, particularly
in an area where there are brush fires or wildfires. Here are more steps
for prevention, depending on the needs of your property.
- Remove vines from house walls; move
shrubs and other landscaping away from house walls.
- Remove highly flammable and
low-branched trees, such as evergreens, eucalyptus, and juniper when
possible.
- Remove tree debris, such as fallen
limbs, leaves, and pine needles and cones.
- Remove debris beneath decks and other
overhangs; remove debris from gutters.
- Remove wooden exterior structures,
such as decks and patios, or replacing them with materials that are
more fire resistant if they present a hazard.
- Consider installation of non-combustible
roofing and siding materials, such as metal, slate, or concrete.
- Consider installation of fire
resistant landscaping, particularly in a high fire danger area.
- Create a "defensible space"
by removing all flammable vegetation at least 30 feet from all
structures. On slopes or in high fire hazard areas remove flammable
vegetation out to 100 feet or more.
Preventing a fire
is a high priority in managing your property and reducing your liability.
We will advise both you and your tenants when we see the need for
preventative measures.
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