Category Archive : Property Management

LAS VEGAS, NV – According to a recent Forbes article, the Centers for Disease Control and Prevention (CDC) has recently extended the renter eviction moratorium through the end of March 31 in an effort to curb mass evictions due to financial hardship brought about by the ongoing COVID-19 pandemic. In addition, the proposed $1.9 trillion COVID-19 relief bill by President Joe Biden – which House Democrats aim to pass by mid-March – includes the possibility of extending that eviction ban through the end of September.

On one side of the equation, we have the millions of cash-strapped individuals who will be allowed to remain in their homes throughout the most difficult economic and health crisis in many years. On the other side, however, are landlords who will be forced to bear the brunt of hardship that the eviction moratoriums bring, as many of them will be asked to continue to provide free lodging for many tenants – in addition to still being responsible for paying mortgages and property taxes – with little hope of reprieve aside from federal rent assistance programs.

Meanwhile, some states have enacted their own moratoriums – independent of the federal government – that must be adhered to as well, adding an extra layer of hardship for landlords.

This is causing many smaller “mom-and-pop” landlords – which make up approximately 77 percent of ownership of small building apartment units – to struggle to make ends meet while still being expected to provide basic services and maintenance for their tenants. According to the U.S. Census Bureau, nearly 10 million households – about 20 percent nationwide – are currently behind on their rent.

Many of these mom-and-pop landlords are retired, and their rental properties represent an investment into their retirement and, in many cases, is their only source of income.

If you’re a landlord and you’re facing extreme financial hardship due to ongoing eviction moratoriums, it’s difficult to find an avenue of recourse, as rules and guidelines not only vary federally, but state-by-state and county-by-county. First of all, it’s best for you to consult with a qualified attorney in your area who is familiar with all the laws governing evictions; however, even on a local level, many courts are biased against landlords during the COVID-19 pandemic, experts say, and some property owners may have no recourse but to wait out the various moratoriums. However, some exceptions can be made in the event of criminal activity or a threat to a tenant’s neighbors.

In addition, some landlords can apply on the behalf of their tenants for money from a $25 billion Emergency Rental Assistance Program (ERAP) recently announced by the U.S. Department of the Treasury under the Consolidated Appropriations Act of 2021. The funds from this program can help households pay for rent and utilities, and in turn, help ease the financial stress of landlords at the same time.

Landlords may also be eligible for Pandemic Unemployment Assistance (PUA), which is a program that benefits self-employed individuals impacted by COVID-19 that would ordinarily not qualify for regular unemployment insurance (UI). The current PUA expiration date to apply for benefits is March 13, although President Biden’s proposed relief plan may extend that as far as through the end of September.

Some small landlords – if they report their income via a 1040 Schedule E, limited liability corporation or LLC – can also apply for the Small Business Administration’s (SBA) Economic Injury Disaster Loans (EIDL) for landlords.

Finally, it is recommended that landlords not pursue methods of dealing with tenants that may run them afoul of the law; instead, they should operate within all established guidelines and attempt to work with tenants on payment plans and helping them apply for rental assistance programs.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – Earlier this week, President Joe Biden extended three federal protection programs safeguarding homeowners in the United States throughout the ongoing COVID-19 pandemic that were on the verge of ending next month.

First, Biden extended a ban on home foreclosures for federally-backed mortgages until the end of June 2021, in addition to extending a mortgage relief program; the goal of these actions is to help stabilize the housing affordability crisis that has been taking place throughout the ongoing COVID-19 pandemic.

The moratorium on foreclosures was initially set to end on March 31, but has been extended until June 30; this is the second time he has extended this ban following his record-breaking number of executive orders since taking office on Jan. 20. Originally, before Biden took office, the foreclosure moratorium passed during the Trump Administration was set to end on Jan. 31.

In addition, Biden has also increased the enrollment window for mortgage payment forbearance – which allows homeowners who have active home debts to pause or reduce their mortgage payments – until June 30.

And finally, Biden added an additional six months where the federal government will allow borrowers to defer mortgage payments; however, those looking to take advantage of this act would need to have been enrolled in a forbearance plan by the end of last June, reports say.

The Biden Administration issued a statement after the President signed these acts, saying that the government is “committed to protecting homeownership and housing stability during the pandemic,” and that the President’s actions will “directly benefit the 2.7 million homeowners currently in COVID forbearance and extend the availability of forbearance options for nearly 11 million government-backed mortgages nationwide.”

The Biden Administration did not address the current eviction ban on rentals that is currently due to expire on March 31; however, a COVID relief bill proposed by the President – which has not yet passed through Congress –  would extend the eviction ban until the end of September.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – According to a recent CNN article, the extension of the federal eviction moratorium through the end of March 2021 was a desperately-needed lifeline for countless people struggling with financial hardship due to the ongoing COVID-19 pandemic. In addition, President Joe Biden is attempting to pass a bill that would extend that eviction moratorium even further; if his proposed relief legislation passes in its current form, that eviction ban would be extended to Sept. 30, 2021.

While this is helpful to renters who have lost their jobs – or had their income severely curtailed – by COVID, to countless landlords, the continued eviction ban extensions have been a living hell, as for these programs to work they alone must bear the financial hardship – in the form of unpaid rent – on their very backs, according to Bob Pinnegar, president and CEO of the National Apartment Association.

“It’s important to recognize that, after 10 months of severe economic distress, job loss, and decline in rent collections, everyone is hurting,” he said, adding that landlords are “saddled with the financial burden of providing housing to America’s 40 million renters without sufficient resources to do so, and they leave residents to accrue even more debt.”

The original federal eviction moratorium was due to expire at the end of December, but was given an extra month as part of the second COVID relief package; upon taking office in January, President Biden signed an executive order extending it to the end of March.

Ultimately, Pinnegar said that everyone wants the same thing – for people to be able to stay in their residences. However, he argues, eviction moratoriums are not the way to achieve that since they do not shield renters from back rent that is accrued over the course of the ban; once the ban ends, the renter will owe large amounts of back rent that they will likely never be able to fully repay.

In the meantime, landlords – especially small mom-and-pop operations without any financial backing whatsoever – are being forced to house their tenants without the benefit of monthly income, which is stretching some of them beyond the breaking point, Pinnegar said.

“They just kick the can down the road, jeopardizing housing supply, quality of the housing stock and affordability on the other side of this crisis,” he said. “Without rent, owners can’t afford maintenance or capital improvements necessary to preserve the units. If owners cannot pay these, they risk their ability to provide safe housing for residents altogether.”

In addition, some landlords are not able to meet their mortgage payments, putting many of them into risk of foreclosure.

Pinnegar is currently calling for large-scale rental assistance from the federal government to help all involved parties get by during the ongoing eviction ban; President Biden’s proposed COVID relief bill currently calls for $30 billion in rental assistance on top of the $25 billion in aid approved in the most recent $900 billion stimulus package passed in December.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – According to recent reports, one of the largest owners of apartments in Las Vegas has made an announcement last week that they will now be accepting the popular cryptocurrency “Bitcoin” as a payment option for their tenants’ rent.

Las Vegas Apartments Corporation – according to their Facebook page – provides “safe and secure low income luxury Studio, One and Two bedroom apartments in downtown Las Vegas with all utilities and WiFi included.”

The company, on Wednesday, said they will not only be taking the digital currency to cover rent, but any move-in fees as well, reports say.

Las Vegas Apartments Corp. stated that only a few escrow services offer Bitcoin as a form of payment, but they believe that acceptance of the cryptocurrency will increase over time by more businesses.

The concept of paying your rent with bitcoin is a relatively new one in the industry, but one that’s been slowly catching on in various cities across the nation over the last few years. For example, the Brooklyn, New York-based ManageGo – a mobile app that allows tenants to make payments and schedule maintenance with their landlords – gave renters the option of paying via bitcoin several years ago.

How it works is relatively simple- the tenant makes their rent payment with Bitcoin, and the ManageGo app utilizes a digital cryptocurrency broker to convert the bitcoin to actual dollars, which are then sent to the landlord.

Ultimately, however, according to the American Apartment Owner’s Association, accepting Bitcoin – a very volatile cryptocurrency in terms of value – could be a good long-term investment, and it could also help you stand out in a rental market by advertising that you accept it.

There are also significant risks as well. As mentioned, the value of bitcoin can fluctuate wildly, whereas cash does not. For example, today, February 10, a single Bitcoin equals $45,154, where just three days ago, February 7, 1 Bitcoin equaled $37,787. In addition, since bitcoin is not liquid, it can take far longer – up to 10 days – to cash it out than non-digital currency. And, since it is digital, Bitcoin is vulnerable to being hacked.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – Eviction moratoriums – in one form or another, be they issued from the state or federal level – have provided a safety net for Las Vegas residents who have fallen on hard times due to the brutal impact of the ongoing COVID-19 pandemic. 

And while those moratoriums have prevented countless people down on their luck from ending up on the street, it’s landlords who are bearing the brunt of the financial burden that these eviction bans are responsible for; as they say, you can’t have good without some bad to balance it out, unfortunately.

Contrary to popular belief, the majority of landlords in Las Vegas are not large, soulless corporations, but hard-working mom-and-pop operations that are also struggling to get by, just like many other people affected by the pandemic. According to recent reports, local Las Vegas landlord Mario Tafarella has found himself owed as much as $30,000 in rent from his two rental properties, and it’s hurting him severely.

Nevada Governor Steve Sisolak recently reinstated his eviction moratorium, which is currently in-place until March 31; until that point, Las Vegas residents cannot be evicted due to non-payment of rent relating to COVID-19 financial issues, provided that afflicted tenants have signed a declaration form and presented it to their landlord.

Tafarella has noted that he has tenants that have steadfastly been paying their rent throughout the pandemic, despite their own money problems, but he remains paranoid that one day that could all come to an end and he would be forced into bankruptcy.

“We’ve got tenants that have been with us five and seven years, and they paid us through the eviction ban,” he said. “But who knows, anything can happen.”

In addition, President Joe Biden, in his proposed COVID-19 stimulus package, has called for an extension of the existing federal eviction moratorium throughout the end of September, 2021. However, his plan has received pushback from the Republican members of Congress as being too extreme, and it remains to be seen if the eviction ban is not revised or done away with altogether in order to receive the bipartisan support for the stimulus package Biden has said he seeks.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – According to reports, StoryBook Homes is in the process of constructing a new residential community – dubbed Treville Court – that specifically targets those seeking to rent a home as opposed to buying one.

Situated near Windmill Lane and Jones Boulevard in the southwest valley, Treville Court will give those looking to rent a selection of three different single-family homes to choose from. Ranging in size from 1,430 square feet to 1,645 square feet; the homes will have three to four bedrooms, 2.5 bathrooms, and either a one or two-car garage. Construction began in December 2020, and the first renters should be moving in come April 2021.

StoryBook Homes has a history of home development and property management under their collective belt, Treville Court represents the first time that the company has taken it upon themselves to construct an entire community specifically targeting renters. However, the very real need for rental property in Southern Nevada is what prompted the company to develop Treville Court, and their construction know-how will serve their eventual tenants well when repairs or other services are needed as time goes by.

Representatives from StoryBook Homes note that the reason Treville Court caters exclusively to renters is due to the growing number of people – both local and moving to Nevada from out of state – who may wish to sample life in the region by renting a home before moving on to actually purchase one. And for those who enjoy their rental enough to make it permanent, the company also offers a rent-to-own program.

Upon completion, Treville Court will offer 20 homes with stainless steel appliances, kitchen granite countertops and cultured marble surround shower in the master bathroom, as well as backyards with a patio and rock landscaping. There will also be a community park.

StoryBook Homes are no strangers to community development; in 2018, they built luxury lifestyle community The Mercer Las Vegas, located in the southwest valley.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – President-Elect Joe Biden unveiled his proposed $1.9 trillion COVID-19 stimulus plan last week, and in addition to economic initiatives such as extending and enhancing unemployment coverage and providing funds for state and local governments, he’s also pushing for billions in rental assistance and an eight-month extension of the current residential eviction moratorium, according to reports.

Biden will be asking lawmakers to approve $30 billion in renal assistance for those who are facing eviction due to non-payment of rent due to COVID-related financial issues. These funds, if approved, would go hand-in-hand with the $25 billion in rental assistance that was part of the December 2020 stimulus bill. In addition, another $5 billion would be made available to those who are homeless – or are on the verge of being so – or acquire housing, and separate money would be offered to those who need legal representation to help fight a pending eviction.

Another huge provision of Biden’s proposed stimulus plan is an extension of the federal eviction moratorium enacted by the Centers for Disease Control and Prevention in September 2020 that is due to last until January 31, 2021. Biden’s plan, if approved by lawmakers, would extend that eviction ban until September 30, 2021, and would cover the majority of renters throughout the United States.

Currently, it is unknown if Biden’s stimulus package, which he has stated is a major priority for his administration, will pass in its current form. However, given the slim majority that Democrats currently have in the House and Senate, it is indeed possible; in addition, experts note that some aspects of the plan could be passed via executive order if the plan does not make it past lawmakers.

Currently, approximately 14 million Americans are behind on their rent due to the ongoing pandemic.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – Nevada Governor Steve Sisolak’s statewide eviction moratorium is currently in effect until March 31, which prevents tenants and homeowners from being evicted from their homes due to financial reasons stemming from the ongoing COVID-19 pandemic.

While this offers a layer of protection for individuals affected by the economic damage inflicted upon Nevada, it nonetheless demands that landlords continue to suffer massive losses in the form of unpaid rent. While this has caused a great deal of hardship for landlords – many of which are small, mom-and-pop operations who use rentals to get by – there is a clause in the current eviction ban that offers a layer of protection for landlords if the worst should happen.

According to experts, the Governor’s moratorium will nonetheless allow a landlord to begin the process of evicting a tenant if they are facing a very real threat of foreclosure on their property. However, this dire financial hardship would have to be proven in a court of law; once a judge has been satisfied that a landlord literally has no other recourse and is in very real danger of losing their home or apartment complex, eviction proceedings would then be allowed to begin.

“If the homeowner is facing a very real threat of foreclosure, they can go ahead and move forward with an eviction process,” said Bailey Bortolin, Nevada Legal Aid Policy Director.

With that being the case, experts also stress the vital importance of tenants and landlords setting up payment plans for whatever amount the tenant can realistically afford, keeping an open channel of communication between all parties, and putting in an application to Clark County’s CHAP program for rental assistance, since Sisolak’s eviction ban does not absolve a tenant from paying back rent.

Governor Sisolak’s statewide eviction moratorium is currently running concurrently with a federal moratorium issued by the CDC; however, experts note that the Nevada ban essentially overrides the federal one, due to end on Jan. 31.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – According to recent reports, the newly-instituted eviction moratorium put in place by Nevada Governor Steve Sisolak  has limitations imposed upon it that were not immediately made known to the public. Legal experts are noting that Sisolak’s new moratorium, issued in response to a Federal CDC moratorium due to expire at the end of the year, contains fundamental differences from the previously-expired version that the Governor originally signed in March.

According to Attorney Jim Berchtold with the Legal Aid Center of Southern Nevada, while the Sisolak’s original moratorium offered blanket protection to anyone who faced eviction in face of COVID-19-related issues, the new moratorium he recently issued – which lasts until March 31 – only applies in certain situations and comes with a series of requirements that the original did not.

“This one is not automatic. Only certain people qualify for its protections,” Berchtold said. “The person has to be unable to pay rent due to some COVID related reason. They have to make less than $99,000 per year in 2020 and they have to be at risk of homelessness, or forced into a group living situation, if they are evicted.”

In order to ensure qualification for Sisolak’s new moratorium, Berchtold noted that it is required that anyone hoping to take advantage of it apply for the current CDC-related moratorium and then submit the relevant paperwork to their landlord.

Part of the reasoning behind Sisolak’s new moratorium is to help prevent the spread of the current spike of COVID-19. The new moratorium does not apply, however, to tenants who are destructive to their residences or are proving to be a nuances and/or danger to their neighbors, according to reports.

In addition, if you are a tenant who is faced with eviction for non-payment of rent due to COVID-19-relation issues, Clark County’s CARE Housing Assistance Program (CHAPS) can provide rental assistance so that landlords –  who themselves are experiencing extreme financial hardship throughout the pandemic – can receive payments that they desperately need.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – Nevada Governor Steve Sisolak, citing recent massive spikes in the COVID-19 pandemic, announced Sunday that he would be extending a “statewide pause” that he implemented in November in an effort to help curb the spread of the virus. In addition – and perhaps more controversially – he will also be reinstating a previously-expired residential eviction moratorium, which will bar most evictions in Nevada throughout the end of March 2021.

Sisolak originally clamped down on activities that could potentially spread COVID-19 in a November 22 mandate – originally set to end Tuesday, but now extended to January 15 – that included a cap on the number of patrons allowed at public businesses such as gyms, restaurants, bars, casinos, and bowling alleys.

In addition, mask rules were tightened and previous public gathering limits of 250 people were cut by either 50 or 25 percent capacity – whichever results in a lower number – and private gatherings at 10 people from a maximum of two households.

Perhaps an even bigger announcement on the part of Sisolak was the fact that he will be reinstating his original eviction moratorium that previously expired on October 15. The moratorium, which goes into effect at 12:01 a.m. on Tuesday, December 15, will ban all residential evictions that are based on a tenant’s inability to pay their rent and will last until March 31, 2021.

Tenants may still be evicted for other reasons, such as breaking the law, proving to be a threat to their neighbors, damaging the property, and other related reasons.

Sisolak’s new eviction moratorium is set to address a nationwide moratorium issued by President Donald Trump through the Centers for Disease Control and Prevention (CDC) that is set to expire on December 31, in addition to looming deadlines after which federal assistance funds will no longer be available.

Sisolak noted on Sunday that he knows these new measures will produce hardship for many people – in particular landlords – but given the dramatically-rising numbers of COVID-19 hospitalizations in Nevada and a lack of economic assistance from the Federal government, he felt he had no choice.

“I know the mitigation restrictions in place under the current ‘pause’ are devastating to many Nevadans who just want to go back to ‘normal,’ who are worried about their jobs, their businesses, keeping their homes and getting their kids back to school,” he said. “But as I’ve said for nine months now, we must do what we can to protect the health and safety of the public. That remains more important than ever as we experience these record numbers.”

Since the pandemic hit in March, Nevada – and the tourism-driven Las Vegas in particular – has experienced massive unemployment numbers and widespread economic damage as shutdown measures closed businesses and entertainment venues.

On Sunday, Sisolak – who has received backlash on his handling of the pandemic – stated that if the measures he is implementing this week do not curb the spread of COVID-19, even more stringent restrictions may take place.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – One fact of the ongoing COVID-19 pandemic is that everyone is feeling the financial crunch that the disease has ushered in, top to bottom. And one group that is being hit hardest of all are landlords, some of whom are seeking assistance from local government in order to survive.

While many people are struggling throughout the pandemic – Las Vegas’ tourism-dependent economy has taken a larger hit than most this year, leading to massive job losses and record unemployment numbers – some forget that landlords across the state of Nevada are also bearing the brunt of the economic damage.

Despite the eviction moratorium Nevada Governor Steve Sisolak issued in March having recently ended, a similar decree by U.S. President Donald Trump that lasts throughout the end of 2020 has given reprieve to many who were facing homelessness.

And while this is an excellent thing, it nonetheless achieves its goal while standing on the backs of landlords and property managers across Nevada, many of whom are feeling the financial pinch more than most. Most, not wanting to put good people out on the street, have been working with tenants who have fallen on hard times, often at significant personal cost and hardship.

Some landlords – many of which in Nevada are actually small mom-and-pop operations, as opposed to large cooperate entities – have petitioned Clark County for grants that are offered to small businesses by way of the Federal CARES Act, currently due to expire by the end of the year unless Congress grants an extension.

“You can use the funds for anything you deem necessary to stabilize your business during this difficult time,” said Michael Naft, Clark County Commissioner for District A. “So that might be back rent. It might be utility assistance.”

To many property owners the CARES Act is proving to be literal lifesaver, and a large number of them are depending on the proposed extension that Congress is working on in their next COVID-19 relief bill, possibly to be presented for consideration this week.

However, some landlords have faced an uphill battle in the form of tenants who have not lost their jobs due to COVID-19, yet nonetheless have taken advantage of eviction moratoriums and not paid rent anyway.

“We do have a few tenants that have never lost their job throughout this whole thing that have stopped paying rent,” said apartment complex owner Ben Lamson. “I don’t appreciate the people that are trying to take advantage of the situation.”

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – Since Nevada Governor Steve Sisolak lifted the state eviction moratorium on October 15 – originally put into place in March due to the ongoing COVID-19 pandemic – nearly 4,000 eviction cases have been opened in Las Vegas Justice Court, according to reports.

Despite the state eviction moratorium ending October 15, the earliest landlords could start eviction proceedings against tenants for non-payment of rent due to pandemic-related financial reasons was October 29 due to official court timelines.

Since that date, October 29, 3,981 cases have been opened, although the overall number of evictions could actually be higher due to the fact that cases are often filed with the court after the initial serving of the eviction notice by the landlord, not before. Once an eviction notice has been served, a tenant has seven business days to make good on back rent owed or vacate the property; if they do not, then the landlord or property manager can open a case in court and start formal eviction proceedings.

Governor Sisolak originally put the eviction moratorium in place after the pandemic wreaked havoc with the economy, costing thousands their jobs and creating wide-scale financial hardship. However, after several extensions of the moratorium – and complaints from landlords who were suffering financially themselves – Sisolak finally lifted the moratorium approximately one month ago. Despite the moratorium, landlords were still able to evict tenants for some safety-related issues.

A Centers for Disease Control and Prevention eviction order remains in place throughout the end of the year, although to be eligible tenants were required to opt-in to it; if a tenant has not done so, the federal order would not apply to them, and eviction proceedings would be allowed to begin if they did not make good on back rent or arrived at a repayment plan with their landlord.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.