Rental Application     Tenant Login     Market Updates     Call Us:   702-376-7379

Category Archive : Rentals

Home / Rentals

Rental Listing Scams
Market Updates , Real Estate , Rentals

Rental Listing Scams on the Rise in Las Vegas, Better Business Bureau Warns

By Christopher Boyle February 7, 2022

LAS VEGAS, NV – There has been a recent and significant rise in the number of fake rental listings in Las Vegas as criminals hoping to take advantage of the intense demand for housing options are attempting to scam unwary individuals and families by way of social media.

The Better Business Bureau (BBB) of Southern Nevada is saying that prospective renters should be very cautious when responding to advertisements for apartment or rental properties on Facebook and other similar sites.

According to reports, once such victim of the uptick in rental scams is a woman named Christine – who declined to use her last name – yet was subjected to a “scary” experience when answering one particularly sketchy listing for a home in Henderson on Facebook Marketplace.

“I was desperate for a place, when you’re in that mindset and have kids,” she said. “He said he was the owner of the house. He said he wouldn’t be able to meet me. He would be able to give me a key code. I instantly thought that was a little weird.”

After she toured the property by herself by entering it via the back door – as per the instructions she received – the “owner” proceeded to email her a generic rental application. Suspicious, she had a friend look into the property.

“The house was on Zillow, more than what the guy was asking,” Christine said. “I got scared and I blocked him.” 

The BBB said that it’s common practice for scammers to masquerade as landlords or property managers of rental units they don’t even own – especially ones that have been vacant for extended periods of time – in order to separate the unaware from their hard-earned money.

In order to remain safe when looking for a rental, the BBB suggests adhering to the following guidelines:

  • Go to reputable realtors, leasing agencies or property managers.
  • If you’re dealing directly with a landlord, confirm they own the property.
  • Pay for any fees or applications with checks or credit card fees; you can easily dispute charges.
  • Never use Venmo, Zelle or any form of electronic payments for a stranger.
  • Report scams to BBB Scam Tracker.
  • Facebook advises users to report fraudulent listings or postings.

Shelter Realty Property Management specializes 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.

Clark County
Area Living , Market Updates , Rentals

Clark County Announces Short-Term Rental Regulation Survey to Gain Residents’ Input

By Christopher Boyle December 27, 2021

LAS VEGAS, NV – Currently, short-terms rentals such as Airbnb and VRBO are not legal in unincorporated Clark County, but all of that is set to change thanks to the passage of Assembly Bill 363 (AB363) by the Nevada Legislature, and county officials are seeking input from local residents on the regulation once the marketplace is allowed to open for business.

Clark County has launched a public survey regarding short-term rentals to assist officials in crafting ordinances that will serve to regulate the market, which AB363 requires be set in-place by no later than July 1, 2022.

Some of the limits to AB363 that local residents will be able to give their opinions on include minimum distance separation between short-term rentals proximity to resort hotels, limits on the number of occupants and number of permits a person may hold.

Erik Pappa, a Clark County spokesman, said that the survey should help to find compromises that will hopefully alleviate any misgivings that residents may have over short-terms rentals potentially appearing near their homes.

“We have to strike an appropriate balance and we really need the public’s input on what that balance should be,” Pappa said.

Currently, Assembly Bill 363 requires a minimum distance of 500 feet between any two short-term rentals – Las Vegas’ current ordinance requires 660 feet – and could also override a mandate that requires a rental property to be occupied by the homeowner.

“Are those standards appropriate or should we require further distance requirements? Should we limit the number of people that can stay at an Airbnb?” asked Pappa.

Clark County officials are urging residents to take part in the survey, which they say is vital in creating ordnances that can impact the quality of live in the neighborhoods that the majority of these rentals will be situated.

The survey, which takes between 10 and 15 minutes to complete, can be accessed at https://www.ClarkCountyNV.gov/survey.

The survey will ask several different questions of residents, including their opinions of having short-term rentals in their neighborhood, any experiences they have had with such services in the past, and other matters that will be taken into consideration when county officials draw up their mandated ordnances.

The survey will be made available to Clark County residents until the end of January, 2022.

Shelter Realty Property Management specializes 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.

Rental
Market Updates , Property Management , Rentals

2021 Year End Report Sees Rental Prices in Southern Nevada Increase 27% Over 2020

By Christopher Boyle December 17, 2021

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 Property Management specializes 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.

The Highline
Development , Market Updates , Rentals

Development Begins on New Luxury Apartment Complex The Highline, Located in The Gramercy Las Vegas

By Christopher Boyle December 1, 2021

LAS VEGAS, NV – Ground was recently broken on The Highline, a new luxury apartment complex that is being constructed within “next generation” master planned community The Gramercy Las Vegas, slated for completion by winter 2023.

Lyon Living and LandSpire Group are co-developing The Highline, with the project being the first one that they are collaborating upon in the Las Vegas Valley. When completed, the project will boast 294 apartment homes, consisting of studios and one-and-two bedroom units featuring numerous amenities and high-end appliances.

Tenants of The Highline will also have access to an impressive rooftop lounge area, including a resort-style pool and spa, a clubhouse, beer garden, co-working space, an elite fitness facility according to managing partner of Lyon Living Pete Zak.

“As the economy and population of the Las Vegas area continues to grow, we wanted to bring an innovative and exciting new property to the area, that will offer residents more than just a place to live, but a place to dine, shop, explore and network,” he said. “Conveniently located in the heart of Spring Valley, The Highline will deliver a sophisticated level of dining, retail and office space, while embodying a socially-driven living community that encourages residents to gather and entertain in shared spaces. We are excited for this first-ever partnership with LandSpire Group, who shares a similar vision of creating unique, community-based developments.”

The Highline will continue to evolve and grow past its 2023 opening date, and will eventually make 71 townhomes available for purchase, in addition to adding 25,000 square feet of retail space that will supplement the restaurants, shopping, and offices already offered in The Gramercy Las Vegas.

The Highline is advertised as being family-and-pet friendly, and is located just a few miles away from the hustle and bustle of the famed Las Vegas Strip, but will nonetheless be close to some of the most sought-after dining and shopping options available in Southern Nevada.

Rockwood Construction will be handling the construction duties on The Highline, and anticipates a 26-month timetable to completion.

Shelter Realty Property Management specializes 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.

Airbnb
Market Updates , Property Management , Rentals

Airbnb to Block One-Night New Year’s Eve Rentals in Las Vegas from Users with Bad Reviews

By Christopher Boyle November 26, 2021

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 Property Management specializes 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.

Lake Mead West Apartments
Development , Market Updates , Rentals

Affordable Housing Development Breaks Ground in North Las Vegas; Project Will Offer 156 Units When Completed

By Christopher Boyle November 24, 2021

LAS VEGAS, NV – Lake Mead West Apartments, a new affordable housing complex that will be located near Texas Station in North Las Vegas, recently broke ground and, once development is started, is slated to be completed in 2023.

According to Hassan Chaudhry, principal of developer Foresight Companies and developer of Lake Mead West Apartments, the project will offer 156 units when completed and will have one, two, and three-bedroom units with below-market rents. At the moment, fair market rent in the area starts in the mid-$900 range.

“High-quality affordable housing is a critical need in Southern Nevada, and Lake Mead West Apartments will be a much-needed community in North Las Vegas,” he said. “Creating a project that is a true public-private partnership to benefit our working families requires intensive collaboration among numerous agencies and entities, but is worth the hard work for the community benefit.”

Chaudhry noted that the phrase “affordable” shouldn’t scare off prospective tenants who are worried that may translate into a lack of quality.

“Affordable just means that there is an opportunity for someone to pay less in rent. it doesn’t mean the quality of construction is low somehow,” Chaudhry said.

Lake Mead West Apartments, the development cost of which comes in at approximately $31.5 million, will be comprised of a gated complex and will feature numerous amenities for tenants, including a dog park and a barbecue area. In addition, the project will also boast of so-called “Wrap Around Services” aimed at serving the needs of tenants, offering services such as affordable health care, a food pantry, after-school programs for students, social services, computer/internet workstations, and a children’s play area.

The housing complex was brought into existence via a public-private partnership with the City of North Las Vegas, Nevada Housing Division, Foresight Companies, LLC and a private investor called Red Stone.

Shelter Realty Property Management specializes 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.

Eviction Moratorium
Evictions , Property Management , Rentals

After End of Eviction Moratorium, Evictions in Las Vegas Quadruple Since 2020

By Christopher Boyle November 17, 2021

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 Property Management specializes 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.

Short-Term Rentals
Market Updates , Property Management , Rentals

Prices of Short Term Rentals In Las Vegas Continue to Climb, Spelling Big Profits for Hosts

By Christopher Boyle November 5, 2021

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 Property Management specializes 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.

Rent money
Area Living , Economy , Rentals

Las Vegas Apartment Rent Continues to Set Records, Skyrocketing To All-Time High

By Christopher Boyle November 3, 2021

LAS VEGAS, NV – When it comes to apartments in Las Vegas, they’ve never been more in-demand than they currently are now. And when it comes to what people are paying for those in-demand apartments, it seems that is yet another aspect of life in the Southern Nevada region that’s hit an all-time high.

Reports indicate that the prices of one-bedroom and two-bedroom apartments in Las Vegas have seen a 30 percent jump when compared to the same period of time just one year ago, representing a significant increase in a relatively short amount of time.

The average rent of a one-bedroom apartment in Las Vegas is approximately $1,800 per month, and the average rent of a two-bedroom apartment will set someone back about $2,000 per month; these prices represent a new all-time high for the city.

The reason for skyrocketing rent is simple – demand, which has been fierce as the COVID-19 pandemic ends and the economy continues to recover. Competition has been strong for rental units in Vegas, and landlords and property managers recognize that; as a result, prices have been creeping ever-skyward, because it’s a given that someone will be willing to pay.

Rent prices in Vegas are currently at the point where it is beginning to fuel serious worry about the city’s continued affordability, an aspect of life in the city that has proved until now to be most attractive for people from neighboring states such as California, where taxes can make life unsustainable for some residents.

However, developers have been working on multiple apartment projects in Las Vegas that, upon completion, will hopefully feed into the ongoing demand and, as a result, help to stabilize rent prices.

Shelter Realty Property Management specializes 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.

Apartment Buildings
Market Updates , Real Estate , Rentals

Las Vegas Based Apartment Complex ‘Ely at The Curve’ Purchased for $156 Million

By Christopher Boyle October 27, 2021

LAS VEGAS, NV – Ely at The Curve, a 456-unit apartment complex located in the Spring Valley suburb of Las Vegas, has been purchased by Chicago-based LaSalle Investment Management from previous owners, The Calida Group, for $155.6 million.

Ely at The Curve, which offers easy access to not only the Las Vegas Strip, the greater Las Vegas Valley, and Downtown Las Vegas, but also several office and retail complexes, making it an ideal place to live for those looking for an apartment that is close to both business and entertainment options.

Situated at 6355 South Riley Street, Ely at The Curve was originally constructed in 2010 and offers one and two-bedroom apartments that come in at an average size of 945 square feet. The units offer a variety of attractive amenities for tenants, including walk-in closets, stainless steel dishwashers and high ceilings with crown molding.

In addition, there are two swimming pools, private cabanas, a clubhouse with coffee bar, a fitness center, and an outdoor lounge with fireplace. Ely at The Curve is located in a prime location in the Las Vegas Valley and looks to be an attractive option for professionals who have moved to the city amid the remote-work craze born out of the COVID-19 pandemic.

With the Las Vegas economy rebounding faster-than-anticipated after the end of mandatory business lockdowns, rental units in the heart of the city have proven to be an attractive – and highly-sought after option for those looking for new transplants to Southern Nevada.

Investors have been extremely active in the Las Vegas marketplace recently, with a number of high profile apartment sales having taken place as of late. In April, an unnamed buyer purchased three properties for $182 million from Tower 16 Capital Partners; in July, The Bascom Group also purchased three-properties for $72 million; and in August, TruAmerica Multifamily purchased Vida, a 252-unit building located near the Las Vegas Strip.

Shelter Realty Property Management specializes 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.

Rental Complex
Area Living , Property Management , Rentals

NVSAA Report Shows Apartment Marketplace in Las Vegas Is Among The Fastest Growing in U.S.

By Christopher Boyle October 22, 2021

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 Property Management specializes 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.

alta southern highlands
Area Living , Development , Rentals

Atlanta Developer Building Upscale Apartment Complex in Southern Las Vegas Valley

By Christopher Boyle October 13, 2021

LAS VEGAS, NV – The southernmost edge of the Las Vegas Valley is going to be the recipient of a new upscale apartment complex, compliments of a developer hailing from Atlanta, Georgia that had previously opened another rental property across town during the early stages of the COVID-19 pandemic.

Wood Partners is currently in the process of building a new 228 unit project – dubbed Alta Southern Highlands, which broke ground in August 2020 – situated in proximity to the M Resort, located off Southern Highlands and St. Rose parkway, which is slated to be completed and open their doors for business in early 2022.

According to the company’s website, Alta Southern Highlands will possess “next-level finishes” and numerous high-end amenities for residents, including a game lawn, a fitness facility with yoga studios, and more.

The project, upon completion, will no doubt help to address the intense demand in the Las Vegas Valley for rental apartments; during the pandemic, many people moved into the valley – especially from out-of-state – to work remotely while taking advantage of the lower cost of living the area afforded.

However, soon rental space became harder and harder to come by, and correspondingly, rents began to climb in response to the demand; in August, the average rent of a home in Las Vegas was $1,718, which represents a 25 percent increase over the same period of time one year prior.

According to a report released by listing website Zillow, the degree of rent growth in Vegas was the fastest among the 50 metro areas that they examined; projects like Alta Southern Highlands will help to address the demand for rental properties in the region, in addition to stabilizing prices that so far are raising affordability concerns among local residents.

Wood Partners also built a 347-unit apartment complex that is currently completed and open in Henderson, called Alta NV.

Shelter Realty Property Management specializes 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.