Category Archive : Property Management

LAS VEGAS, NV – The Nevada State Apartment Association (NVSAA) released a report earlier this week indicating that the apartment marketplace of Las Vegas is showing definite signs of stabilizing after months of skyrocketing rents and low availability, while nonetheless remaining one of the very fastest-growing markets in the United States.

The report shows that, in the third quarter of 2021, apartment rents in Southern Nevada jumped an eye-opening 22 percent when compared to the corresponding period of time in 2020. The current average apartment rent in Las Vegas is $1,403 per month, representing a $255 increase year-over-year, when the average rent in the region was $1,148.

NVSAA Executive Director Susy Vasquez noted that the report is good news for Southern Nevada, as its previous rate of growth was not sustainable in the long-term.

“Rents are stabilizing as we enter the time of year fewer people tend to move,” she said. “Rents are expected to continue increasing, but not at the rate we’ve experienced this year. The growth rate of the past 12 months is just not sustainable for a healthy market.”

In addition, the average apartment vacancy rate in the third quarter of 2021 was 3.9 percent; this number represents a sizable decrease from the third quarter of 2020, when that number was at 5.4 percent.

The NVSAA noted that Las Vegas is still holding on as one of the fastest-growing apartment marketplaces throughout the COVID-19 pandemic. 2020 data indicates that the number of residents of Clark County has jumped by approximately 40,000 people – or 2 percent of the overall population – over the course of the last year.

The fact that the county’s population has continued to swell despite the effects of the pandemic and subsequent business lockdown measures speaks to the region’s quickly-recovering economy and increasing job growth in the recovering leisure and hospitality sectors.

The report also indicated increasing growth in apartment construction, with 6,300 new units currently in development during the third quarter of 2021, as opposed to only 3,800 units in the second quarter.

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 – Last week, the United States Supreme Court’s decision to overrule the Biden Administration’s latest eviction moratorium – originally enacted to avoid homelessness in the midst of the COVUD-19 pandemic – is nonetheless a prime example of being far too little in the face of far too much, reports say.

The Supreme Court found that the decision of the Centers for Disease Control and Prevention (CDC) to enact a new eviction ban during the COVID-19 pandemic without the express approval of congressional legislation was essentially illegal, despite its well-meaning intentions of avoiding homelessness that could contribute to additional spikes in infections due to the new Delta COVID variant.

However, while eviction cases that have been held in limbo will now be allowed to finally continue, multiple landlords are saying that – due to myriad eviction bans that have allowed some tenants to live rent-free in their homes for over a year – the Supreme Court’s decision may essentially amount to too little, too late.

The majority of landlords in the United States are not large corporate entities, but small mom-and-pop originations that relied on their rental incomes to support their retirements; but after a year of no income and requirements that nonetheless forced them to provide upkeep without any return, many of them are facing financial ruin regardless of the Supreme Court decision.

James Bathgate, a landlord in California, notes that federal rent relief funds have been trickling out ineffectually over the last few months, and will likely never fully cover the immense losses that they have faced due to draconian eviction moratoriums over the past year.

“We had to sell the property because I couldn’t afford it every month, not getting any income from rent and being forced to take $3,000 a month expenses on the property,” Bathgate said. “Is the government going to now pay me $70,000 that they stole from me? I doubt 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.

Last week, the United States Supreme Court struck down the Biden Administration’s nationwide eviction moratorium; however, is unlikely to have any impact whatsoever upon tenants facing eviction for nonpayment of rent due to a recently-passed piece of legislation in the state of Nevada which offers ironclad protections for those who have applied for federal rent relief funding.

Kaila Leavitt, president of Leavitt Evictions, noted that Assembly Bill 486, which prohibits eviction if a tenant has applied for federal rent relief funds, potentially offers more protections than the recently-overturned eviction ban put forth by the Centers for Disease Control and Prevention (CDC).

“Here in the state of Nevada, we have [Assembly Bill 486] which arguably protects tenants more than the federal moratorium does,” she said.

A previous eviction moratorium issued by Nevada Governor Steve Sisolak ended on May 31; the moratorium enacted by the CDC, which targeted counties with high COVID-19 transmission rates, would have expired on October 3 if it had not been struck down last week by the Supreme Court.

Leavitt noted that AB 486 offers protections for 90 days for renters that have applied for federal relief funds and are awaiting the outcome of their case, allowing them to remain in their homes whether or not they are currently paying any rent to their landlords.

However, according to Leavitt, that may not be the case in terms of constitutional legality, and despite the fact that a renter may have applied for federal funds, it may still be possible to evict them for nonpayment of rent.

“I think many landlords were under the impression that the federal moratorium got extended again, they couldn’t evict. And that was just not the case,” she said. “When the tenant gets the notice, they don’t communicate with their landlord. They don’t respond. They just think they can’t be evicted and they just write it off. That’s just really not the case.”

AB 486 is due to expire on June 5, 2023, or when the $360 million in rental relief funds allotted to Nevada is spent.

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 United States Supreme Court on Thursday issued a ruling that struck down the latest eviction moratorium enacted by the Biden Administration – stating that it can only be extended via Congressional legislation – clearing the way for potentially millions of evictions across the country to begin.

The newly-invalidated eviction moratorium was initially issued on August 3 by the Centers for Disease Control and Prevention (CDC); this was done after a previous ban was allowed to lapse on July 31 after the Supreme Court had ruled that it could only continue through an act of Congress, which failed to materialize due to lack of support.

Nonetheless, the Biden Administration issued a more targeted eviction moratorium, aimed at areas with high infection rates; President Job Biden himself told reporters that he doubted it would pass Constitutional muster, but hoped that time eaten up by legal challenges would give states more time to distribute $46.5 billion in federal rental assistance funds. The moratorium had originally been scheduled to expire October 3.

The new moratorium – much like the original – was aimed at preventing homelessness by not allowing evictions due to financial hardship experienced from the COVID-19 pandemic; however, the Supreme Court declared Thursday that it was beyond the CDC’s authority.

“If a federally imposed eviction moratorium is to continue, Congress must specifically authorize it,” the Supreme Court’s ruling stated, effectively ending the eviction ban immediately.

Liberal Justices Sotomayor, Kagan, and Breyer, dissented from Thursday’s ruling.

The eviction moratoriums have been an especially strong hardship for smaller mom-and-pop landlords; currently, according to reports, as many as 15 million households in the United States owe a combined total of approximately $20 billion in back rent, with about 58 percent of tenants currently behind on rent.

Meanwhile, landlords have been forced to not only allow their tenants to live for free in their properties, but they have also been required to maintain the properties out of their own pockets, driving many to financial ruin.

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 study, the eviction moratoriums enacted by the Centers for Disease Control and Prevention to help reduce homelessness during the COVID-19 pandemic have had the incredibly negative side-effect of proving extremely costly to both Nevada landlords and the state’s overall economy.

The positive benefit to Nevada’s economy that is generated by the state’s residential rental industry is estimated to have decreased by a full 9 percent – or a whopping $511 million – in 2020 when compared to the pre-pandemic year of 2019, according to the report released last Thursday.

In addition, lost wages and their subsequent lack of contribution to the state’s economy due to the eviction bans have cost Nevada approximately $12.6 million in lost sales and use tax revenue in 2020 as well.

The report also found that small mom-and-pop landlords – who make up the majority of the rental marketplace in Nevada – have suffered the most financially from the eviction bans, with an average loss of approximately $1,870 per unit. In addition, landlords with over 30 units have been deprived of about $350 per unit, with an average of $422 per unit lost between March 2020 and February 2021.

Nevada Realtors and Nevada State Apartment Association President Brad Spires noted that the report helps put this damage caused by the CDC eviction moratoriums into perspective from an economic point of view.

“It reinforces what we’ve been saying throughout this pandemic about the disproportionate harm these policies have had on individual property owners who depend on rental income to survive,” he said.

The report arrived at these findings by surveying 140 landlords and property management firms, who own a combined 21,000 units among them.

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 U.S. Court of Appeals issued a ruling on Friday that upheld the eviction moratorium enacted by the Centers for Disease Control and Prevention (CDC) on August 3, after the previous eviction ban was allowed to lapse by Congress. The next stop for the case, filed by a group of Alabama and Georgia landlords, is the Supreme Court, which is slated to hear the case this week.

A three-judge panel of the U.S. Court of Appeals ruled against the plaintiffs who were seeking to block the new moratorium, but the landlord groups quickly pivoted and filed an emergency motion with the Supreme Court. In turn, Chief Justice John Roberts has ordered the administration of President Joe Biden to respond to the lawsuit by 12pm on Monday.

“As five Members of this Court indicated less than two months ago, Congress never gave the CDC the staggering amount of power it claims,” the motion filed by the landlords read.

This quote in the motion refers to the previous decision rendered by the Supreme Court in June that allowed the CDC’s first eviction moratorium to remain in-place until its original expiration date of July 31. However, Brett Kavanaugh – who voted with the 5-4 majority in that ruling – noted that he would not support any further extensions of the eviction ban without the approval of Congress, which failed to materialize.

After the ban was allowed to expire, CDC Director Dr. Rochelle Walensky announced the new eviction ban, citing the rapid spread of the Delta variant of COVID-19. The new ban applies to counties where at least 50 cases of COVID-19 per 100,000 people have been reported over the past seven days, which currently covers nearly 95 percent of all U.S. counties.

The new ban is set to expire October 3, but can be lengthened or shortened based on changes in the spread of the virus.

President Biden himself has admitted to reporters that the new CDC eviction ban many not be constitutional, but noted that any legal challenges would grant extra time for states to distribute federal rent relief funds.

LAS VEGAS, NV – The U.S. Court of Appeals for the District of Columbia is expected to issue a ruling this week as to whether or not the recent eviction moratorium set in place by the Centers for Disease Control and Prevention (CDC) will be allowed to continue.

The new, limited moratorium was imposed by the CDC on August 3, 2021, covering areas with substantial and high transmission of COVID-19 – currently covering about 90 percent of the U.S. population – in response after a previous moratorium, originally set in place on September 4, 2020, had expired on July 31, 2021.

The Court of Appeals set an expedited schedule in response to a lower court’s ruling on Friday, when U.S. District Judge Dabney Friedrich declared the CDC’s eviction moratorium to be illegal, but nonetheless said that she was forced to allow it to stand for the time being, stating that her “hands are tied” by a previous decision handed down by an appellate court earlier in the year.

The Justice Department has been given by the Court of Appeals until 9 a.m. Tuesday to respond; the plaintiffs, made up of Alabama and Georgia realtors, have until Wednesday morning. Both parties have requested that the court issue its ruling on the matter by Thursday, with the realtors stating that “This Court should do what the district court thought it could not.”

If the Court of Appeals does not end the CDC’s eviction moratorium, the plaintiffs are expected to take the matter to the Supreme Court, who had previously ruled against the previous moratorium being ended before its July expiration date. However, Justice Brett Kavanaugh – who had voted not to end the eviction ban early – also noted that he would also reject any additional extensions without Congressional legislative action, which failed to 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 – Since the Centers for Disease Control and Prevention (CDC) issued their initial eviction moratorium in September of 2020, landlords have been unfortunately caught in a tug-of-war between the federal government and their tenants that reside in their rental properties, all due to the COVID-19 pandemic, a national malady that seems to refuse to go away.

Many landlords are understanding of the financial issues that their tenants may have encountered as a result of the pandemic, but at this point the CDC’s eviction moratorium has been ongoing in one form or another for nearly a year. The latest ban on evicting tenants for failure to pay rent for reasons related to COVID-19 is slated to expire on October 3, but who’s to say it won’t be extended yet again?

In the meantime, a recent article has laid bare what landlords are going through in Las Vegas – many of them small mom-and-pop operations who rely on rent money for their livelihoods or retirement – and the feelings that they are expressing can be summed up in one word- “enough.”

In the article – a commentary by Susy Vasquez, executive director of the Nevada State Apartment Association – it is pointed out that the burden of the economic issues being faced by so many in this country today are unfairly – and solely – being placed on the backs of landlords.

“No other industry has been asked to give away its goods and services for free during this global pandemic,” she said. “No other industry has had a cap placed on its ability to charge a fair market price for its products or services. And no other industry facing this situation provides one of the basic human necessities: housing.”

“Rental housing providers in Nevada and nationwide have been forced by our federal government to house everyone for free, if needed, only to learn months later that not all renters would qualify for government-provided rent assistance,” she continued.

Vasquez points out that landlords had been previously assured that eviction bans would not be extended again… only to discover that was not true, as evidenced by the CDC’s new moratorium, issued on August 3. The author also notes that it is highly likely that the CDC’s current eviction ban is illegal and is already being challenged in the courts, but the trust between landlords and the federal government is already tarnished.

Vasquez states that the CDC eviction ban was more about buying time to distribute federal rental assistance funds than anything else – a process that has been slow to roll out at the state level – and points out that the longer this process goes on, the worse it will be for all parties involved.

“The CDC’s eviction order leaves renters facing insurmountable debt and jeopardizes the ability of rental housing providers to provide safe, sustainable and affordable housing,” she said. “The distribution of critical rental assistance has been painfully slow. Renters and rental housing providers desperately need these funds to catch up on their bills.”

If landlords are forced to shoulder this burden much longer, Vasquez says, many will soon be in the same situation that many of their tenants face… or worse.

“The bottom line is that eviction is always our last resort. The housing industry is in the business of housing people and trying to find another tenant means additional lost rent and more hassle for housing providers,” she said. “Enough is enough. Rent assistance needs to be made a top priority and be distributed to those in need at a much faster pace, making landlords and tenants whole.”

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 – After several controversial extensions since it was originally instituted in the fall by the Centers for Disease Control and Prevention (CDC) to prevent homelessness during the COVID-19 pandemic, the federal eviction moratorium finally came to an end on July 31, and now thousands of households in Nevada are facing potential eviction for nonpayment of rent.

In order to help in the only way he currently has available to him, Governor Steve Sisolak is now urging Nevada residents who are behind on their rent and anticipate being evicted in the very near future to do their best to seek out rental assistance programs that are available to them.

“I want to be clear, if you are a renter you must apply for this assistance,” Sisolak said. “Filling out and submitting an application is the best thing you can do right now if you fear you may be evicted for nonpayment of rent.”

Sisolak, during a virtual news conference held this weekend, continuously urged residents to apply for rental assistance, since the recently-passed Assembly Bill 486 temporarily halts the eviction process for renters until the aid applicant is notified of the outcome. The bill also allows landlords to apply for aid on behalf of tenants who are behind on rent but for whatever reason have not applied for aid themselves.

“We have plenty of rental assistance money available through funds from the federal government,” Sisolak said. “There are dedicated people through all levels of government working to process those payments as quickly as possible.”

Applying for rental assistance from the CARES Housing Assistance Program – both by tenants and landlords – can be done by clicking here. Eligible applicants must be able to show how they have been financially impacted by the pandemic and meet income requirements.

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 eviction moratorium instituted and extended by the Centers for Disease Control and Prevention (CDC) is finally slated to come to an end on August 1, and while it will likely result in thousands of eviction cases for Nevada residents – as well as residents nationwide – what exactly will it mean for the landlords who have been chomping at the bit for over a year to finally get their properties back in their possession?

For landlords who are finally hoping for things to go back to pre-pandemic “normal,” they may find that they have a bit longer to wait due to actions by Nevada Governor Steve Sisolak and the State Legislature.

According to the Nevada State Apartment Association, courts have already processed large amounts of eviction paperwork filed in anticipation of the end of the CDC eviction ban, but landlords should expect the process of getting their soon-to-be former tenants out of their rentals to take some time and potentially, serious effort.

Simply put, every eviction will require constables to proceed with locking out the former tenants, and the massive tidal wave of evictions that are anticipated to come in August will stretch both the resources of said constables – as well as their ability to communicate with landlords over what units need attention – very thin.

With that being the case, the actual process of evicting everyone that requires it will already take an extended period of time over and above the norm; however a new law signed by Governor Sisolak could make that process take even longer to carry out.

The law – Assembly Bill 486 – protects tenants from eviction who have submitted an application for federal rental assistance until their application has been approved or denied by Clark County’s CARES Housing Assistance Program, a process which could take months.

In addition, renters are under no obligation to inform landlords that they have applied for rental assistance – or the status of their application – unless they are in the process of being evicted.

And finally, Nevada Assemblyman Howard Watts’ new law – Assembly Bill 141 – seals all eviction records due to non-payment of rent caused by pandemic-related financial hardship, making it more difficult for landlords to properly vet prospective new tenants.

While landlords may finally be seeing a light at the end of the tunnel in terms of the pandemic, they unfortunately may still have a ways yet to go before things get back to normal.

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 the Eviction Lab at Princeton University, Clark County, Nevada is potentially facing more evictions than any other area in the United States when the Centers for Disease Control and Prevention’s (CDC) eviction moratorium ends July 31, reports say.

The Eviction Lab at Princeton University, according to their website, “creates data, interactive tools, and research to help neighbors and policymakers understand the eviction crisis.” They analyzed data of the average number of eviction filings in Clark County between the years of 2016 and 2019 and compared them to ones filed between January 2020 and May 2021. This was done in order to see how the COVID-19 pandemic had impacted the impending slew of evictions that are expected to hit once the CDC’s moratorium expires at the end of the month.

The findings were eye-opening, and indicated that between March 15, 2020, and May 27, 2021, landlords and property managers in Clark County had filed a whopping 22,400 eviction cases, which the Eviction Lab noted was the most out of any comparably-sized region they have examined in the country.

One place in the country that comes closer than others to Clark County’s numbers during the same period of time is Dallas County, Texas, which saw 18,600 eviction filings; meanwhile in Clark County, 4,559 evictions were filed in November alone, which the Eviction Lab said was twice the average number for Southern Nevada.

The emotional and financial impact of the COVID-19 pandemic has caused immeasurable hardship on renters who have been unable to make their monthly payments. However, it could be argued that an even greater one has been shouldered by the landlords and property owners who have been forced by repeated local and federal mandates to essentially provide free room and board for their tenants, even for those who may simply be taking advantage of the system.

One thing is for sure; when the CDC eviction moratorium ends July 31, there will be a massive eviction crisis across the United States.

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, a recently passed eviction bill aims to address the many issues being faced by landlords throughout the ongoing COVID-19 pandemic, particularly when it comes to offering potential financial relief when it comes to tenants who may have access to federal rental assistance funds but for whatever reason have not applied for them.

Assembly Bill 486 will allow landlords suffering hardship due to non-payment of rent during the pandemic to apply for rental assistance on behalf of their tenant; many Nevada property owners have noted that renters not bothering to apply for rental assistance – be it out of ignorance, apathy, or outright malice – have been an ongoing thorn in their side for the past year.

However, Bill 486 also introduces some additional protections for tenants as well, including pausing eviction proceedings once they have applied for rental assistance until their application has been processed.

The bill will not be enforced until the end of the federal eviction moratorium – due to expire on July 31 – but despite finally giving landlords access to possible financial relief, many have nonetheless criticized the bill as actually doing more harm than good by drawing out the eviction process even longer due to the grace period it affords renters applying for assistance that they may or may not be approved for.

The typical eviction process in Nevada would see tenants behind on their rent receiving a notice from their landlord giving them seven days to quit or pay; the tenant would then have to file a response with the court, followed by a landlord filing an eviction. The two parties would then meet before a judge, who would present a final ruling on the matter.

However, legal experts have noted that AB486 alters that process by requiring all eviction hearings to be put on hold for a maximum of 30 days, after which it would go into mediation. The bill also protects tenants who have submitted an application for assistance from eviction until their application has been approved or denied by Clark County’s CARES Housing Assistance Program, a process which could take months.

As for the landlord, if they do receive rental assistance on behalf of a tenant, the eviction will be automatically dismissed and the landlord will not be able to file another case against the tenant for a minimum of 90 days.

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.