Category Archive : Property Management

LAS VEGAS, NV – Upholding the decision previously made by City Clerk Jackie Rodgers, the North Las Vegas City Council at their August 3 public meeting voted 4-1 to remove a historic measure from the upcoming November ballot that would have established the first rent control measure in Nevada amid steadily-raising cost-of-living concerns for residents.

Rodgers previously determined that out of 3,396 signatures on a petition to include the measure on the November ballot, only 2,679 were valid, dropping the amount below the required 3,968 signature threshold. In addition, Rodgers claimed that there were differences in language from the original petition and the proposed rent control measure, which also rendered it invalid.

At the August 3 meeting, North Las Vegas Mayor John Lee led the motion to approve the city clerk’s determination that the rent control measure was “insufficient” to be included on the ballot. Only Councilman Richard Cherchio opposed the vote.

Prior to the decision, city attorneys, real estate agents and officials from the Culinary Union – the organization officially backing the rent control measure’s inclusion on the ballot – had presented hours of testimony to the Council, but ultimately, Lee stated that he felt that the decision should be decided in the legal system instead.

“Everything that was spoken today looks like it’s going to be interpreted in court,” Lee said. “I can’t interpret state law and I do believe that this needs to be somewhat adjudicated.”

Currently, there are no rent control or rent stabilization laws in Nevada. The proposed measure would have established a law that would have prevented rent increases of over 5 percent per year.

Culinary Union Secretary-Treasurer Ted Pappageorge pledged to appeal the City Council’s decision – if necessary, in the Nevada Supreme Court – in a statement released shortly after the vote.

“The actions of the North Las Vegas City Council today is a clear example of how the current leadership has failed to respond to the urgent crisis North Las Vegas residents are facing,” he said. “Voters, not politicians, should decide on Neighborhood Stability and the only way that can happen is if the measure is on the ballot on November 8, 2022.”

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 – The efforts of North Las Vegas residents to get a proposed rent control measure voted upon in the upcoming November elections has been rejected after the City Clerk determined the number of signatures on the petition was “insufficient” and, therefore, the measure was unable to be included on the ballot, reports say.

The rent control measure, which is sponsored by the city’s Culinary Union, sent a challenge to the determination on Friday that maintains the method that North Las Vegas City Clerk Jackie Rodgers used to determined the number of signatures required for the measure had violated the Nevada Constitution.

Currently, there are no rent control or rent stabilization laws in Nevada.

The attorney alleged that the Clerk had used turnout figures from the June 14, 2022 primary election, as opposed to the June 11, 2019 general election to determine the needed signatures; according to the state Constitution, the number of signatures from registered voters for an initiative petition is “equal to 15 percent or more of the voters who voted at the last preceding general county or municipal election.”

Ted Pappageorge, secretary-treasurer of the Culinary Union, insisted that – according to the Nevada Constitution – the rent control measure was completely valid and deserved to be included on the upcoming ballot.

“We will not be deterred,” he said. “The Culinary Union submitted 3,396 signatures, and we are confident in their validity. The City of North Las Vegas is misreading the law as to how many signatures are required.”

However, City Clerk Rodgers determined that out of the 3,396 signatures on the petition, only 2,679 were valid; 3,968 signatures are required for a measure to be included on November’s ballot. In addition, Rodgers claimed that there were differences in language from the original petition and the proposed rent control measure, which renders it invalid.

The Culinary Union’s attorney has requested that the North Las Vegas City Council review the Clerk’s decision not to include the rent control measure on November’s ballot at their next public meeting on August 3.

“The Committee respectfully requests the City Council to review and disapprove the Certificate and instruct the City Clerk immediately to complete her review by using 476 as the required number of valid signatures for sufficiency,” the attorney said.

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 – Residents of North Las Vegas have been pushing hard to get the signatures needed to get a measure that would introduce rent control legislation on the ballot in November’s upcoming elections, and their efforts to prevent rent increases in light of prevailing cost of living concerns appear to have paid off.

476 signatures were required for the measure to appear on November’s ballot; North Las Vegas residents managed to gather approximately 3,400 of them before the July 1 deadline by beating the streets and knocking on doors.

If the measure ends up getting the support it requires at the ballot box this fall, it will place a cap on the amount that landlords can increase a tenant’s rent amid a climate in Southern Nevada where living costs have continually increased – rents in North Las Vegas have jumped nearly 30 percent since 2020 – pricing some out of the market, according to Culinary Union secretary-treasurer Ted Pappageorge.

“T​​he day has finally come and we’re here to submit the petition for neighborhood stability,” he said.

This effort represents the first time an attempt was made to get a rent control measure on the books in North Las Vegas since the 1970s, and – if successful – would tie maximum rent increases to North Las Vegas’ Consumer Price Index (CPI), mandating that rent hikes could not exceed 5 percent year-over-year.

The next step of the process was a recent meeting between members of the city council and redevelopment agency to discuss the potential economic impact of the measure upon the region if it passes in November.

Currently, there are no rent control measures on the books in Nevada, and if one is successfully implemented in North Vegas, it remains to be seen if it will survive the anticipated legal challenges that will be brought against it.

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 – Commissioners in unincorporated Clark County approved an ordinance on Tuesday to regulate short-term rentals, officially legalizing an industry in the region that includes services such as Airbnb and Vrbo that operate online marketplaces for lodging, primarily homestays for vacation rentals and tourism activities.

The ordinance comes as a great many neighborhoods across the country have issued previous complaints regarding short-term rental customers disturbing their neighbors with noise and wild partying, which has been a long-standing complaint in regards to the service.

Previously, short-term rentals were not legal in Clark County; however, in 2021, Assembly Bill 363 was voted into law, and decreed that as of July 1, 2022, it would be legal for companies such as Airbnb and VRBO to operate within the county. Furthermore, the county was also tasked with regulating the new industry, and lawmakers had been working ever since – based on public feedback –  to craft an ordinance for that purpose.

Clark County commissioners on Tuesday discussed numerous new regulations that would govern the industry within its borders, including occupancy limits, minimum stays, distance separation, and the responsibilities rental operators.

The short-term rental ordinance (full report can be read here) passed Tuesday includes the following provisions:

• Not more than 1% of housing in the county can operate as short-term rentals
• No more than one license per person
• Maximum occupancy of two people per bedroom or 10 people per unit
• Bookings must be a minimum of two nights
• Minimum two-night stay for every reservation
• Not within 1,000 feet of an existing short-term rental
• Not within 2,500 feet of a resort hotel (state-mandated)
• Hosts must allow the County to inspect the residential units without advance notice
• Allow misdemeanor citations for violations of this ordinance, thus opening the possibility of criminal liability for issues as minor as the placement of trash

A 24-hour telephone hotline will be made available to local residents to report any issues relating to short-term rentals in their neighborhood; those operating the rentals will be required to have personnel in their employ that will be able to respond to and address reported issues within a 30-minute time span.

John Choi, Airbnb’s Head of US West Public Policy, issued a statement on the news of the new ordinance, criticizing Clark County for what he called passing rules that are “stricter than what is required by state law.”

“From the start, Hosts on Airbnb have offered to work with Clark County Commissioners on rules that allow regular people to share their homes to earn extra income and to support the region’s tourism economy, both of these are needed now more than ever as residents continue to navigate economic headwinds,” he said. “Today Clark County commissioners passed new rules that are stricter than what is required by state law and will take money out of the pockets of Nevada residents and the local tourism economy.”

“Short-term rentals have been a lifeline for residents who rely on the income to make ends meet and for travelers looking for safe, comfortable accommodations that offer more space and control over their environment,” Choi continued. “Now is the time for the tourism sector to work together to bolster Clark County’s economy and hospitality industry.”

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 – Laguna Point Properties, a multifamily investment company based out of Mission Viejo, California, has announced the purchase of two large apartment complexes in Las Vegas in an off-market transaction worth a total of $129.7 million, giving the company a large foothold in the Southern Nevada rental marketplace.

Topaz and Viridian, two apartment communities that are located adjacent to one another on West Viking Road, were part of the Laguna Point Properties deal. Topaz, constructed in 1985, offers 252 units featuring both one and two bedroom floorplans; Viridian, built in 1981, offers 456 units in the form of studios, one, two, and three-bedroom apartments.

The two Las Vegas acquisitions are part of a larger, multi-state deal on Laguna Point Properties’ part; the firm has recently spent the sum of $566 million acquiring not only the two aforementioned complexes in Nevada, but an additional five properties in Los Angeles, California and one in Jacksonville, Florida, for a grand total of 1,945 apartment units overall.

Las Vegas-based property management company Cushman & Wakefield have been tapped by Laguna Point Properties to oversee the Topaz and Viridian, whereas Greystar and ZRS Management will manage the Los Angeles and Jacksonville complexes, respectively.

According to Laguna Point Properties’ website, the company’s mission “is to opportunistically acquire and renovate class “B” and “C” multifamily assets in the Western and Southeastern United States. The typical acquisition will range from 100 to 500 units and have a price between $15 million and $70 million. The Company and its affiliates have acquired over 6,500 multifamily units, with a current portfolio of 5,200 apartment homes and a total capitalization of $758 million.”

It is currently unknown if Laguna Point Properties has any plans to renovate or make any changes to Topaz and Viridian upon taking them over.

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 – Clark County has released a series of proposed rules that short term rental companies such as Airbnb and VRBO – as well as independent renters – will need to abide by and are looking for feedback from the public in order to fine-tune these rules to make sure they address the concerns of county residents before they go into effect.

In 2021, Assembly Bill 363 – sponsored by Assemblywoman Rochelle Nguyen – was voted into law, and decreed that as of July 1, 2022, short-term rentals would begin to be legal in Clark County; furthermore, the county would also be tasked with regulating the new industry within its borders, and lawmakers have been working ever since to craft ordinances for that purpose.

The Clark County Commission is not only looking to find an method to address the huge number of house-sharing rental applications they will receive, but also how to crack down on the even larger number of illegal short-term rentals that are clandestinely operating within the county’s jurisdiction; current estimates put the number at approximately 10,000 properties.

Currently, the list of rules to govern the legal short-term rental industry in Clark County has been distilled into the following:

• Short-term rentals will not be allowed in Mt. Charleston and at apartment buildings.
• 2 people per bedroom or 10 people maximum per unit
• Licensee may not accept bookings of fewer than 2 nights
• Multiple bookings prohibited
• The unit may only be available to people within the same family or group during the same booking period
• 24-hour complaint hotline must be provided
• Noise monitoring devices must be installed for rentals that are not within multifamily homes

The rules must be finalized by July 1; anyone that wishes to give feedback on the proposed rules – be they renters or community members that stand to be affected by the legalization of short-term rentals – are asked to provide their comments to [email protected] by 5 p.m. Wednesday, May 18.

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 – As short-term rentals – such as Airbnb and Vrbo – finally approach a state of legality in Clark County as of July 1, lawmakers are signifying that they are in favor of establishing a lottery system for when it comes to issuing the over 2,800 licenses to individuals and companies that are looking to get involved in the local house-sharing industry.

The Clark County County Commission is not only looking to find an ideal method to address the huge number of house-sharing rental applications they will receive, but also how to crack down on the even larger number of illegal short-term rentals that are clandestinely operating within the county’s jurisdiction; current estimates put the number between 6,000 to 12,000 properties.

In 2021, Assembly Bill 363 – sponsored by Assemblywoman Rochelle Nguyen – was voted into law, and decreed that as of July 1, 2022, short-term rentals would begin to be legal in Clark County; furthermore, the county would also be tasked with regulating the new industry within its borders, and lawmakers have been working ever since to craft ordinances for that purpose.

Recently, Commissioners agreed on several possible regulations for short-term rentals, including capping licenses to one percent of all homes; adopting a 1,000-foot distance requirement between rentals; limiting licenses to one per homeowner or company; and enacting an application cost of at least $1,000.

As for tackling violations, lawmakers seemed to favor fines up to $1,000 per violation for legal short-term rentals, and fines of up to $10,000 per violation for ones that are operating illegally.

However, details are still in flux and have yet to be cemented amid various concerns that officials do not possess the significant backing in terms of finances or manpower that will allow them to enforce the new ordnances, both among legal and illegal short-term rentals alike. Renters finding ways to skirt around the laws – such as creating multiple LLCs – are a potential issue as well.

A recent survey indicated that the majority of Clark County’s residents are not in favor of short-term rentals becoming legal; those who want to provide input to the county’s plans can email them to [email protected].

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 – With affluent out-of-state residents fleeing highly-taxed regions of the country for Las Vegas due to its more affordable cost of living experience, demand for luxury rental units have reached a fever pitch, driving the market to surpass the $50,000 per month mark and beyond, and without any signs of slowing down due to increasingly low inventory.

Newer listings on the market in Southern Nevada have several luxury rental homes and condos going for prices ranging from $35,000 per month all the way up to a full-furnished unit – a 10,600 square foot residence in The Ridges with six bedrooms and six baths – for a whopping $65,000 per month.

Currently, the most expensive rented luxury property – acquired last fall on a one-year lease – is a $50,000 per month for a Summerlin one-story mansion that comes with landscaping, pool maintenance and weekly cleaning. The home is situated on 0.82 acres and is estimated to be worth over $9 million, and includes a private office, game room, movie theater, sunken wet bar, resort pool with spa, a gym and a basketball court.

The second-most expensive, currently rented rental property in Las Vegas is a $30,000 per month Ascaya property.

In addition to fleeing highly-taxed states such as California, another driving factor of the luxury market in Las Vegas was the COVID-19 pandemic and the subsequent rise of remote working, enabling people to ply their trades from any region of the country during business lockdowns. Prior to COVID, experts say, the high end of the Vegas luxury rental market was averaging about $25,000 to $35,000 a month, as opposed to $50,000 or higher now.

Experts say that many of these wealthy, out-of-state renters have actually purchased their own properties and are currently in the midst of having their own high-end homes built upon them; in the meantime, they are renting local luxury units to reside in until construction is completed, at which time the property is passed on to the next affluent transplant to the region.

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 – Questions of affordability have once again reared their ugly head in terms of Las Vegas’ rental marketplace, as year-end reports indicate that pent prices have jumped considerably over the course of 2021 when compared to the year beforehand.

Reports say that Nevada overall has now been thrust into the nation’s top five states in terms of rent increases over the past year, and when the two-year average is figured in, Nevada is actually propelled into the top four.

According to analysts, in Nevada the average price of rent has jumped 25 percent since the beginning of 2021, and 34 percent since 2019.

The report also indicates that the city of Las Vegas itself has seen a large jump in rental prices in 2021, with costs increasing by 27 percent since the beginning of the year; the average rent in Vegas currently, the report says, is $1,243.

Developers in Southern Nevada have been ramping up construction of new apartment complexes and rental homes over the past year in order to address the rising rent prices the region has been experiencing since the recovery of the local economy and the arrival of more jobs and out-of-state residents.

The development of more living options are, according to many real estate professionals, the key to solving the skyrocketing prices that are currently weighing on Las Vegas’ rental marketplace, which are leading many to question the region’s long-standing reputation for affordability when compared to neighboring states such as California.

Of all U.S. states, Arizona experienced the greatest increases in rental prices since 2019, with a 38 percent jump. In direct contrast, North Dakota was at the very bottom of rental prices over the past two years, with the state actually reporting an 8 percent decrease since 2019.

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 – In an effort to crack down on unauthorized New Year’s Eve parties in their rental partner’s properties, Aidbnb recently announced that they would be blocking users with poor credentials from reserving one-night rentals in the Las Vegas region. The move, Airbnb says, is to assist with noise complaints from neighbors and damage complaints from their rental partners.

The announcement comes as a great many neighborhoods across the country have issued previous complaints regarding Airbnb customers disturbing their neighbors with noise and wild partying, which has been a long-standing complaint – especially in suburban Las Vegas communities – in regards to the service.

The vacation home rental company noted that guests who have a series of negative reviews from people they have rented from in the past will be automatically blocked from reserving one-night stays in the Southern Nevada region – always known as a popular destination for partiers on New Year’s Eve.

Airbnb has implemented similar one-night rental bans on other major holidays in Las Vegas, including Halloween, New Year’s Eve 2021, the Fourth of July, and local users under the age of 25 with a history of poor reviews. Overall, the company noted that over 1,550 reservations in the region were blocked due to these policies.

Based on their success in lowering the number of holiday-related complaints in Las Vegas with these new policies, Airbnb has announced that they intend to implement these bans on individuals with consistently poor reviews in other cities throughout the United States.

In addition, Airbnb has other polices that discourage users from renting properties to use as party hangouts, including putting a cap on the occupancy of any rental home at 16 people due to the ingoing COVID-19 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 – Since the end of the eviction moratorium in Las Vegas on May 31, 2021 – which was originally set in-place during the COVID-19 pandemic – Las Vegas has since seen a significant spike in evictions for a number of different reasons, but primarily for nonpayment of rent for an extended period of time.

While some of these evictions are due to genuine financial hardship brought about by the pandemic, reports indicate that many of these were due to tenants “gaming the system” by claiming hardship when none actually existed.

In September 2020, the Las Vegas Metropolitan Police Department reported 800 eviction notices were served, along with 395 lockouts; these took place while the eviction moratorium was still in-place. It should be noted that while the moratorium forbade evictions due to financial issues encountered due to the pandemic, other reasons for an eviction – such as destruction of property or being judged to be a threat or nuisance to your neighbors – remained valid.

In September 2021 – after the eviction moratorium had ceased – police reported that the number of evictions on record effectively quadrupled, with 1,168 for eviction notices served and 1,482 lockouts having been carried out.

Some of these tenants, however, are able to remain in their residences due to Nevada Assembly Bill 486, which states that someone cannot be evicted if they have a pending application for rental assistance through programs such as the CARES Housing Assistance Program (CHAP). However, if an application is not pending, Bill 486 does not apply and the eviction can go forth.

The COVID-19 pandemic caused untold hardship not just for renters in Las Vegas – as well as nationwide – but also for landlords, many of whom were forced due to eviction moratoriums on both a federal and local level to allow tenants who were not paying any rent to nonetheless live for months in their properties, essentially for free.

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 – As the pandemic winds down and more travel restrictions are removed, more people are looking to catch up on the vacationing that they were forced to do without when the pandemic was at its worst. And, in Las Vegas, according to Fox News, short-term rental hosts are taking in bigger profits than ever before as tourists seem to be willing to pay nearly any price to get away for a few days.

Travis Schurr, an Airbnb “superhost” – which Airbnb’s website describes “as experienced hosts who provide a shining example for other hosts, and extraordinary experiences for their guests” – currently runs nine rental homes in Henderson.

Because of his superhost status, Schurr is able to access software programs that synch up with current rates that hotels in the region are charging, allowing him to change his pricing of his short-term rentals dynamically on a day-to-day basis in order to remain competitive. And so far in 2021, the profits he’s enjoyed month-to-month have only gotten higher and higher due to the incredible demand.

“January we did $30,000 and then we did more the following month and then we did more the following month,” he said. “We didn’t see a slowdown from January until August we dipped and then September we outdid August, and then October we outdid September.”

October was a huge milestone for Schurr, with the superhost earning over $150,000 from his Henderson rentals, which range from a two-bedroom condominium to a half-acre of land with a four-bedroom house.

Prices can really go up if a major local event is taking place, Schurr notes; for example, when the Las Vegas Raiders NFL team played their first-ever home game at Allegiant Stadium, he was able to change sports fans as much as $1,300 per night – often for several nights in a row – to stay at his properties.

With holiday travel expected to pick up in November, Schurr said that he is expecting this month’s profits to continue their upward trajectory.

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.