When it comes to real estate investing, smart property management is what turns potential into profit. Yet, many investors, especially those managing from afar or juggling multiple properties, fall into costly traps that eat away at their returns. Here are the top three mistakes we see most often (and how to avoid them).
1. Delayed Maintenance
Putting off repairs to save money almost always backfires. Small issues like a leaky faucet or loose tile can turn into major, expensive problems if left unchecked. More importantly, delayed maintenance can drive good tenants away, leaving your property vacant and losing money.
What we do differently: At CGVegas, we act fast. Our team handles repairs promptly and communicates with tenants to ensure satisfaction and longevity.
2. Poor Tenant Screening
It’s tempting to fill a vacancy quickly, but rushing the screening process can lead to tenants who don’t pay on time or worse, damage the property. That means lost rent, legal fees, and major headaches.
What we do differently: We use a thorough screening process that checks credit, background, income, and rental history to secure quality tenants from day one.
3. Ineffective Communication
Lack of transparency or slow response times frustrate tenants and leave investors in the dark. That misalignment can lead to turnover, bad reviews, and missed opportunities.
What we do differently: We pride ourselves on clear, consistent communication with both our tenants and investor clients. You’ll always know how your property is performing.