Category Archive : Rentals

LAS VEGAS, NV – According to a new report released by industry group Construction Coverage, the median apartment rent – that is, the number smack dab in the middle of the average – in the Las Vegas-Henderson-North Las Vegas metro area is just over $2,100 per month, making it the 20th-highest in the United States currently. 

The median apartment rent in Vegas is presently $2,107, which illustrates the steady increase in cost-of-living expenses in Southern Nevada recently. However, the region remains far more affordable than many other major metros in the nation.

In particular, the San Jose-Sunnyvale-Santa Clara metro area in California came in at the very top of Construction Coverage’s report, with the median apartment rent there hitting an astonishing $3,811.

Construction Coverage pulled the data used in their report from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau, and the following is a rundown of the median rental rates for a variety of apartment types in Las Vegas, from the cheapest to the most expensive.

• Median rent among all apartment types: $2,107
• Median rent for a studio apartment: $1,424
• Median rent for a 1-bedroom apartment: $1,598
• Median rent for a 2-bedroom apartment: $1,894
• Median rent for a 3-bedroom apartment: $2,654
• Median rent for a 4-bedroom apartment: $3,075

In addition, the state of Nevada overall placed 11th in the country with a median rent price of $2,031; this is in contrast to the national median rental rate of $1,865. Meanwhile, the top five states with the highest median rental rates are Hawaii at $2,909, followed by California at $2,803, Massachusetts at $2,461, New York at $2,335, and Washington at $2,295.

According to the report, the number of states whose median monthly rent exceeded $2,000 last year was nine; in 2024, that number increase to 12.

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 – Recently, the Chair of Nevada Democrats’ senior caucus, Donna West, along with Assemblywoman Sandra Jauregui (D-Las Vegas), jointly announced that they will be drafting a new rent control bill that they will attempt to make into state law, despite the fact that Republican Governor Joe Lombardo vetoed an identical measure after it landed on his desk during last year’s legislative session.

The proposed legislation – titled AB298 – would limit the amount rent can be increased for senior citizens and individuals with disabilities to 10 percent. In addition, it would also require landlords to reimburse prospective tenants for any unused fees they are charged during the housing application process, such as those charged for conducting background checks if said checks are not, in fact, carried out.

The bill would also mandate landlords to list all charges and fees up-front in lease agreements.

The proposed bill is exactly the same as the one Lombardo gave the ax to in 2023 – then titled SB275 – after it had been approved by both the Nevada Senate and Assembly. The governor defended his veto at the time, claiming that rent control could result in housing shortages, less property maintenance, and lowered government property tax revenue.

Jauregui, however, said that the rising rents in Southern Nevada are causing financial hardship for many residents, and that rent control is one way to combat affordability concerns.

Over the past few years, housing costs in Nevada have skyrocketed, pushing too many people to the brink,” she said. “Every Nevadan is being priced out. One of the things that I heard when I was going door to door was, ‘Hey, I’m applying for a place and I’ve applied for 10 places, which is $100 per application, which is $1,000 that just ate into my security deposit.”

According to Rent.com, the current average apartment rent in Las Vegas is $1,288 per month, which represents a 0.6 percent decrease year-over-year; this number is 17 percent lower than the national average of $1,558.

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 – While still generally far more affordable than most other areas of the country, the cost of living in Las Vegas has come under scrutiny recently amid surges in both house prices and rent, but a new survey released by real estate company Redfin indicates that a recent increase in the number of housing units available on the market has led to a corresponding decrease in the amount of money that tenants are paying their landlords each month.

While not all renters are experiencing a drop in what they pay, many reportedly are; when Las Vegas Valley resident Erin Bernot was queried in a local media report, she noted that while her monthly payment had recently risen by nearly 20 percent – prompting her to move to a more affordable place – some friends of hers had experienced a significant drop.

I have been pretty much priced out. If I wanted to do another year lease, they wanted to raise it over 19 percent,” Bernot said, then relating the good deal her friend was offered in contrast to her own.

When he renewed his lease over on Flamingo (Road) here, they dropped his rent like $150,” she said.

Real Estate Advisor Ana Jaramillo, when asked for her assessment of the current situation in Southern Nevada, said that the entire region is an intricately intertwined financial ecosystem, with all aspects of it feeding into and influencing one another.

Ultimately, however, she said that increases in available housing supply have resulted in a recent downward trend in terms of rental prices.

The rental market affects the housing market as a whole. It’s all kind of intertwined,” Jaramillo said. “We have a lot of houses on the market right now to rent. So therefore, the prices of those rental properties have gone down.”

The median rent price for homes and apartments in the Las Vegas Valley in September was $1,475, which represents a 1.5 percent drop from August, according to a recently-published a study by Redfin; nationally, that drop was just 0.5 percent.

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 – Short Term Rentals are very much in demand in areas that feature popular tourist destinations, and with one of the most visited cities on Earth – that being Las Vegas, of course – Nevada is no exception. Coupled with the age-old adage that demand sets price – Nevada is home to some very costly STR listings, with two properties in particular ranked among the most expensive in the United States.

BestBrokers has published the results of a study that examined seven-night Airbnb stays throughout the country during July 2024 – which is considered to be the peak rental month – in order to determine the priciest ones in the nation. Variables in the study included the type of property, cost per night, maximum guest capacity, the number of bedrooms and baths, and what amenities were on offer.

Nevada had an Airbnb that came in third most expensive on the list: Zephyr Cove’s Sierra Sunset Estate, which is located on 24 acres of lakefront property with a private dock and a 150 square-foot beach. The residence itself comes in at 16,703 square-feet and has eight bedrooms, eight-and-a-half bathrooms, and a maximum guest capacity of 16 people. It also boasts numerous high-end amenities, such as a private theater, exercise room, wine cellar, game room with a bar, and a gourmet kitchen with a butler’s pantry.

The cost for all this? An eye-popping $39,563 per night; if filled to the maximum number of guests who all agree to split the cost evenly, they each would be shelling out $17,309 for each night for their stay.

The second Nevada-based STR on BestBrokers’ list was ranked 16th costliest in the country, and that entry is a waterfront estate in Glenbrook on Lake Tahoe called Villa Harrah. The property is a 20,000 square-foot residence with seven bedrooms and seven-and-a-half bathrooms, and can accommodate up to 10 guests at a time.

Amenities are plentiful, including a full cinema, wet bar, and pool table to a deluxe spa with a sauna, hot tub, salt room, and even a nail and hair salon. A large terrace leads to a pool, a beach and private pier.

The cost per night for this property is an incredible $23,171; contrast that with the average national cost of a nightly rental – $216 – and you clearly see these two Nevada listings are indeed for those with fat wallets only.

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 – Las Vegas is one of the most popular tourist destinations in the world, and when those visitors come to Sin City, they obviously need places to stay. And while the city’s hotels are bustling, investors have been hedging their bets on the popular short-term rental industry in recent years, buying up properties to rent out via platforms such as Airbnb and Vrbo.

At current count, there are approximately 10,000 short-term rentals operating in Las Vegas; however, according to a new report, the majority of them are doing so without a license, and are thus considered illegal by Clark County officials.

Landlords operating unlicensed short-term rentals can face serious penalties, with recent examples including hosts incurring fines as high as $180,000 to $240,000. But the majority of these property owners would prefer to be running their rentals legally and on the up-and-up, and blame the extraordinarily sluggish licensing approval process on the part of Clark County for essentially forcing them to skirt the law.

Clark County’s pre-application process opened in 2022, with the deadline for submission having been August 2023. Since then, however, a meager 64 applications have been approved out of the 831 submitted, leaving a looming backlog of over 600 individuals waiting to be able to legally rent out their properties.

According to a statement that Clark County officials issued to the media, the approval process has become ensnared in unforeseen red tape caused by the type of lottery process they employed, and they are attempting to rectify those issues as quickly as possible.

The issuance or denial of a license or a withdrawal of an application will impact other applicants with a higher RNG number on the priority list,” officials said. “Also, the appeal of a denial also requires a hearing process, which requires additional time and delays the process. Additionally, there are factors that impact the timeliness of this process, such as applicants submitting fees timely and getting their inspections scheduled.”

But regardless of the reasons for the delays, Greater Las Vegas Short-Term Rental Association founder Jackie Flores said that every day the property owners she advocates for are forced to wait, is yet another day they are unable to support their families.

A lot of people think people do short-term renting just to get rich, and that is not usually the case,” she said. “The average individuals are senior citizens with a fixed income that are doing it to supplement their income, there are families that have bills to pay and need to make that extra money.”

LAS VEGAS, NV – Today, many are turning to the short-term rental field in order to either make a living or simply get a few bucks via a side hustle, and often these individuals are managing properties via short-term rental platforms such as Airbnb and Vrbo that they own at locations outside of the state in which they reside.

Obviously, this can cause some logistical issues, especially when it comes to monitoring the properties they are renting out; this is especially true when hosts want to ensure that their guests are not holding unruly parties in their residences, potentially causing damage and drawing the ire of local neighbors and authorities.

That being said, many short-term rental owners are now turning to technology to remotely “party proof” their properties as a means of protecting their investments; this article will give a brief breakdown of some effective systems for your consideration.

Often short-term rentals are located in residential neighborhoods, and with that being the case it’s important to remain on good terms with the local community. Because of that, you may want to put safeguards in place to ensure that your guests are not disturbing surrounding houses with loud music or partying late into the night. One way of doing so without invading your guest’s privacy is by installing a Minut noise monitor, which alerts you only if the noise exceeds a specified level, allowing you to immediately contact guests and get ahead of any potential complaints from neighbors.

A Ring doorbell camera is also an effective way to remotely monitor your property to ensure that a steady stream of rambunctious party guests aren’t filing in and out of your property at all hours of the night. Such a system can also provide valuable evidence in the event you need to file a claim with Airbnb or Vrbo over damages caused by party guests.

In addition, some guests can incur excessive utility bills if left unchecked, especially when partying; a Nest smart thermostat can effectively prevent that, allowing you to remotely control the temperature in your property, setting it on a schedule that still allows guests to adjust it within a predetermined range. Likewise, you can also control pool and hot tub temperatures via the Pentair app, but unlike the Nest thermostats, guests have no manual control and must contact the host for adjustments.

And finally, hosts can ensure they are properly regulating their rental pricing structure using revenue management platforms such as Beyond, which utilizes up-to-date algorithms to optimize nightly rates on all their vacation rental platforms, ensuring they are charging appropriate rates around busy holiday times to maximize profit.

Short-term rentals can be a significant source of revenue, but they can also be a significant headache if you’re not properly prepared. But utilizing some of these apps and systems can go a long way to streamlining the process of remote property management, allowing you to enjoy the extra income your rental is providing to you.

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 cost of housing in the United States is a hot button topic leading up to the presidential election in November, and a new study shows that the residents in a growing number of states across the nation are becoming “cost burdened” by the percentage of their income that they have to devote to paying their monthly rent and utilities, with Nevada and Arizona leading the pack in terms of this demographic.

“Cost burdened” is a designation for individuals or families who are paying over 30 percent of their income on rent each month; in 2019, there were seven states where a majority of tenants were in this situation. However, fast-forward to 2023, and that number of states is now at a shocking 21, according to the U.S. Department of Housing and Urban Development (HUD), with approximately 22 million renters nationwide now having to devote a substantial amount of their take-home pay to ballooning housing costs.

Having to allocate over 30 percent of their income to rent and utilities may leave tenants with difficulty in paying for other necessary goods and services, including medical care, transportation, clothing, and food, HUD says.

The three states that have recorded the largest increases in the percentage of cost burdened renters are Arizona, which jumped from 46.5 percent to 54 percent; Nevada, from 51.1 percent to 57.4 percent; and Georgia, from 48.8 percent to 53.7 percent. Coincidentally, all three are presidential swing states, and both candidates – Republican Donald Trump and Democrat Kamala Harris – are sure to make addressing the affordable housing crisis a focus during their campaigning there.

According to the University of Nevada, Las Vegas, the Las Vegas area itself had the largest number of cost burdened renters in the entire state at 58.3 percent, beating out New York City (52.6 percent) and San Francisco (48.9 percent).

Other states that saw large increases in their cost burdened populations include Florida (55.9 percent to 61.7 percent) and Maine (44 percent to 49.1 percent).

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 – A new report released this week by Hotel News Resource (HNR) has placed Las Vegas, Nevada among the very top cities in the United States when it comes to the highest return on short-erm rental investments.

The U.S. has become one of the most sought-after vacation destinations in the world in recent years, and the growth of the short-term rental market can attest to that fact, having increased a whopping 53 percent between June 2022 and June 2024, HNR says.

HNR examined each of the 25 cities in their report based on numerous metrics, including both the possible income derived from rentals and how much it typically costs to purchase properties to, in turn, rent out. They selected only cities with a significant number of properties – in this case, 10,000 or above – potentially available for investment.

But while any investment comes with the risk of loss, HNR’s study narrowed down the top 25 cities where investors saw the highest Revenue Per Available Rental (RevPAR) levels, with Las Vegas coming in with an impressive showing at number 15 overall.

RevPAR is the revenue generated by a property, given its average degree of availability in a given period of time; for example, if you are renting a house out on a short-term basis and a tenant occupies it for half of a month for a price of $200, the RevPAR would be $100.

Ultimately, RevPAR is the most important metric when it comes to determining the return on investment (ROI) potential of any property or market, experts say, and Las Vegas has performed strongly in that regard for many years now; its RevPAR ranking in the HNR report – again, where it placed 15 out of 25 overall – was $149.81.

Seaside cities performed the strongest in HNR’s report, with Lahaina, Hawaii coming in first with a RevPAR of $419.15, whereas Sarasota, Florida ranked last at 25th with $129.69.

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 – Ground was broken last Friday on a unique and pioneering affordable living apartment complex in downtown Las Vegas that caters exclusively to the needs of blind and visually impaired residents.

Dubbed “Visions Park,” the $30 million project will be located next door to the Blind Center of Nevada campus at 950 Visions Park Lane, and will feature numerous amenities to help sight-challenged tenants retain some degree of independence, including flooring that makes different kinds of noises when you walk on it in order to help blind individuals navigate, as well as special types of lighting to assist those who are visually impaired.

In order to bring this project to life, the cities of Las Vegas, Henderson, North Las Vegas, Clark County, and even the state of Nevada have pooled their collective resources in order to create an apartment complex that is accessible to those who rely on the resources of the Blind Center of Nevada.

In addition, the project will aid in reducing travel time and costs getting to and from the Blind Center, as currently some – such as Havander Davis, a visually impaired man who has attended the campus since he was a child – report a commute of anywhere from one to two hours every day.

This is something that blind people or even people with disabilities need, moving into a place that is already going to be accessible is going to be amazing,” Davis said.

Henderson City Councilwoman Carrie Cox, who helped make the project a reality, said that the challenges of visual impairment have affected members of her own family, making this cause a deeply personal one.

It takes a toll. I’ve had a personal experience with my own mother and seeing her sight fail her towards the end of her life,” Cox said, noting that her mother’s situation improved when she began attending the Blind Center. “And to know the difference that that made for her, there was really not a lot of options. So, this is amazing to me that the Blind Center has taken this leap to bring us all together and to make something happen for those that are visually impaired.”

Visions Park is slated to open in the beginning of 2026; there are already 300 people on the waiting list.

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 – For decades, the resort industry has dominated the Las Vegas economy, with glitzy and glamorous hotels providing convenient opportunities for visitors and tourists to enjoy the many casinos and entertainment options lining the famed Las Vegas Strip and its surrounding areas. However, the advent of short-term rentals – via services such as Airbnb and Vrbo – have had an impact on the Vegas resort industry, but has it been a positive or negative one?

According to University of Nevada, Las Vegas College of Hospitality professor Amanda Belarmino, the relationship between the resort and short-term rental industries in Vegas is far from adversarial; in fact, she noted, the two actually compliment each other quite well, as they each attract very different customer bases.

“(Short-term rentals) serve underserved markets. Families are not well served by traditional hotels or by traditional hotel casinos in Las Vegas,” she said. “Many of [them] are people that are relocating here. That’s not a person that you necessarily want in a casino hotel because they’re trying to go to work and not going to be gambling, or eating every meal at your restaurant.”

In addition, Belarmino said that the Vegas economy strongly benefits from having short-term rentals operating within its borders, and while they typically are more expensive than a hotel stay, they normally more than make up for it in terms of privacy, accessibility, and the number of amenities on offer.

But if there is any one disadvantage that comes with short-term rentals, Belarmino said, it’s the high number of investors who are getting in on the action who are serving to drive up the prices of homes in the Southern Nevada region.

I think the bigger impact we see is the perceived impact on housing prices, because investors are purchasing the homes instead,” she said. “But we see that in every market that Airbnb goes into.”

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 cost of rent continues to be a hot button topic in Southern Nevada, with the dough tenants are handing over to their landlords each and every month increasing in some parts of the Las Vegas Valley while decreasing in others. But for renters looking to save a few bucks and find a slightly more affordable place to call home, a new study by digital marketplace Zumper sheds some light on where in Vegas they should be looking.

Out of the 100 cities in the nation that Zumper examined as a part of their report, Las Vegas came in at the 67th most expensive in terms of rent, solidifying its status as one of the more affordable places in the United States to live these days. In August, the median price of a one-bedroom apartment in Vegas was $1,210, a 0.8 percent month-over-month increase; in addition, the median price of a two-bedroom apartment in August was $1,500, remaining the same exact cost as the month before.

The Zumper report examined several areas in the Valley with very heavy rental activity – Henderson, Spring Valley, Winchester, Paradise, and the City of Las Vegas – with Paradise having the most expensive one-bedroom median rent at $1,640, followed by Henderson at $1,460, Winchester with 1,220 and the City of Las Vegas at $1,210.

In addition to having the highest median rent, Paradise also had the largest year-over-year rent increase at 9.3 percent, followed by Spring Valley with 7.5 percent. However, some other areas in the Valley examined in the report saw decreases in rent when compared to last year, with Winchester going down 10.9 percent and the City of Las Vegas dropping 3.2 percent.

In addition, the median rent in the City of Las Vegas is approximately $300 lower than the national average, according to the Zumper report.

In contrast, New York has the dubious distinction of having the highest rental prices in the entire United States, with the median price for a one-bedroom apartment in Manhattan coming in at a whopping $4,500.

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 new study released by the Eviction Lab at Princeton University, Clark County, Nevada is among the municipalities with the highest rates of tenant eviction in the nation.

However, Princeton’s study should not be considered 100 percent definitive, said Eviction Lab research specialist Grace Hartley, as its parameters are narrower than more comprehensive efforts would be, with researchers having only tracked 34 major metro areas throughout the country.

But regardless, Clark County ranked among the highest in the areas tracked, although that ranking is not per capita, Hartley noted.

The population of (Clark County) has the seventh-highest rate in terms of pure filing counts,” she said. “And that’s more than a lot of the states we track.”

There have been 190,133 eviction filings in Clark County since March 2020, which represents a 21 percent jump from the amount seen prior to the COVID-19 pandemic; in 2024 alone, there have been 51,782 filings so far – an increase of 42 percent from pre-pandemic levels – and 4,041 filings in August, a 25 percent increase.

Currently, according to the Eviction Lab, there are approximately 370,204 households being rented in Clark County, with the average monthly rent coming in at about $1,325.

Among the circumstances that attribute to those higher degree of eviction numbers, according to Princeton, is the fact that the process of filing for evictions in Clark County tend to be cheaper and faster than it is in any of the other cities tracked in their study; tenants are only required to be given seven days’ notice by their landlord, and the filing fee with the court is only $71.

In addition, in June 2023, a bill that would have stopped evictions for up to 60 days for renters with pending applications for rental insistence – Senate Bill 335 – was vetoed by Nevada Governor Joe Lombardo, which has also served to increase eviction levels in the state, Princeton says.

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.