Category Archive : Rentals

LAS VEGAS, NV – If the tenant of a rental property you own has a fire, it’s important to know what your responsibilities are as a landlord in the state of Nevada; what are you obligated to provide, and what falls upon the shoulders of your tenant? This article will break that down.

While the specific details may vary depending on the lease agreement that has been signed by both parties, according to Nevada state law if the tenant did not cause the fire and a significant amount of damage has occurred to the property – to the point of rendering it unlivable – either the landlord or tenant will have the option to terminate the lease if they so choose, either individually or jointly.

If the landlord decides to terminate the lease, they would only have to return the security deposit, along with any prepaid rent, the amount of which returned being based on the date that the property was vacated.

But if the tenant has decided to terminate the lease, they are required to immediately vacate the property and must inform the landlord of their intention to void their rental agreement within seven days.

If the property is damaged yet still habitable, the damaged portions of the unit must be vacated until repairs can be affected, and the rent paid by the tenant should be reduced in proportion to the fair rental value of the percentage of the remaining space available to live in until such time that the damaged areas are once again usable.

However, if the fire in question was, in fact, determined to have been caused by the tenant, a member of their household, or a guest – either by accident, negligence, or a deliberate act – none of the above factors are applicable.

In any case, Nevada landlords are not required by law to provide housing for tenants displaced by a fire, unless it is something that was previously agreed to in their lease.

For more information on this topic, NRS118A.400, Damage or destruction of dwelling unit by fire or casualty, please visit KTNV Channel 13: What happens after a rental fire? Legal expert breaks down what a landlord is obligated to provide which includes an interview with an attorney at the Legal Aid Center of Southern Nevada. Please note, this is not legal advice. For guidance, consult a licensed attorney.

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 – Reports have come out regarding a recent class action lawsuit filed against Airbnb in Nevada by a Las Vegas landlord that claims that the online short and long-term homestay broker not only does nothing to prevent individuals from posting illegal listings on their website, but also profits from these listings to the detriment of their legitimate customers.

The plaintiff in Giller v. Airbnb, Inc. – a case filed in June 2024 but only recently coming to public light – is claiming that the online marketplace has violated the Nevada Deceptive Trade Practices Act. Both local and state laws in Nevada mandate that Airbnb confirm that new hosts on their service are indeed the sole person authorized to rent the property in question.

However, the plaintiff in this case is alleging that she rented out a single-family home in Las Vegas to a long-term female tenant in June 2021 for a period of one year, with the provision that the tenant not be able to sub-lease it or utilize it as a short-term rental.

After renewing the lease to this person twice – both in June 2022 and May 2023 – the plaintiff discovered four unauthorized individuals “freely” entering and leaving the house using the security code on the front door while she was performing routine yard work on the property.

The plaintiff soon discovered that her home was listed as a short-term rental on Airbnb – with her tenant’s status on that site being a “Superhost,” indicating she had been doing this for some time and had received positive reviews from multiple guests – but when she reported this violation to the company, she claims that Airbnb “refused to take any action” and continued to allow her tenant to list the property on their platform.

The class action lawsuit – that is seeking to include any landlords in Nevada who currently or previously had properties that were illegally rented out by an Airbnb host from June 10, 2020 to the present day – complains that Airbnb is willing to continue profiting from listings that violated short-term rental laws in Nevada, is not performing mandated due diligence when vetting new hosts, and is still allowing hosts to illegally list properties on their platform without the owner’s consent.

The plaintiff is seeking a jury trial, and is asking for over $75,000 in damages.

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 – Ask any Las Vegas resident to choose one word that best describes the climate in the region, and 10 out of 10 will most likely tell you “Hot.” Often excessively hot, which is only natural because the city is situated in the middle of a desert.

With that being said, making sure tenants have proper working air conditioning is a must, but what are the rights of both parties and how can landlords avoid being taken advantage of by renters who may be using an alleged A/C issue to avoid paying?

Nevada State law [NRS 118A.380(1)] defines requirements as they pertain to renters, that are considered “essential services” that landlords must provide, service, and repair if a tenant runs into any issues with it working properly. According to the Southern Nevada Health District air conditioning is included as an item warranting an “Essential Service Complaint” if not provided while Nevada Legal Services says “most judges in southern Nevada consider air conditioning to be essential.”

If the landlord is required by the rental agreement or this chapter to supply heat, air-conditioning, running water, hot water, electricity, gas, a functioning door lock or another essential item or service and the landlord willfully or negligently fails to do so, causing the premises to become unfit for habitation, the tenant shall give written notice to the landlord specifying the breach. If the landlord does not adequately remedy the breach, or use his or her best efforts to remedy the breach within 48 hours, except a Saturday, Sunday or legal holiday, after it is received by the landlord, the tenant may, in addition to any other remedy:

If a tenant does run into an issue with their air conditioning not working properly, there are certain steps they are required to take to bring the issue to their landlord’s attention.

First, a tenant must send their landlord a written notice – either via email, text message, or USPS certified mail – about the problem with their A/C and both parties should make sure they keep a comprehensive record of their communications back and forth in case there are any complications. It is especially important to keep a “paper trail” in case the matter ends up going to court.

After the notice has been sent, the landlord has 48 hours – business days only, not holidays or weekends – to respond and have the A/C repaired.

If the landlord responds and fixes the A/C, great. Problem solved. However, if they tenant claims – true or false – that the problem has not been fixed, they have several avenues to pursue, including – as a last resort – withholding rent entirely until the alleged A/C issue has been addressed. However, for landlords already weary from pandemic-era instances of tenants pulling scams to live rent-free in their properties for months or even years at a time, have no fear; there are certain safeguards in-place to ensure that any back rent is recovered once the tenant’s A/C is repaired.

First of all, tenants withholding rent over a purported A/C issue are not shielded from being evicted, so if you believe that their issue is not genuine, you may begin eviction proceedings if they are indeed not paying rent.

Also, if a tenant is withholding rent, it doesn’t mean they get to live in the apartment for free; instead, they are required to pay the rent directly to the court during the period of time they are withholding it in order to prove they’re not just trying to pull a fast one. After the A/C issue is addressed, the money collected by the court is given to the landlord.

Most landlords have constructive and positive relationships with their tenants, but on the occasion that this is not true, it’s important to know what your rights are as a landlord in order to protect yourself and your property.

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 visiting the city of Las Vegas on Tuesday’s campaign trail, President Biden announced new actions on the part of his administration to address rising home and rent prices and the construction of more affordable housing options, both in Nevada and in the United States as a whole.

While in Vegas, the announced actions included calling on Congress to pass proposed legislation that would place a 5 percent cap on rent increases on the part of corporate landlords who own more than 50 units, with a failure to comply resulting in the potential loss of federal tax breaks.

Rent is too high and buying a home is out of reach for too many working families and young Americans, after decades of failure to build enough homes,” Biden said in a White House statement released prior to his speaking engagement at the NAACP convention on Tuesday. “I’m determined to turn that around. Today, I’m sending a clear message to corporate landlords: If you raise rents more than 5% on existing units, you should lose valuable tax breaks.”

According to government watchdog Accountable.US, the cost of rent has increased 31.4 percent nationwide since 2019, outstripping the average worker’s wage growth during that period of 23 percent; this, as claimed by the White House, is causing many Americans to struggle with being able to afford housing.

In addition, the President noted that his admin’s actions also include ongoing efforts to release more public land in Nevada in order to facilitate the construction of more affordable housing, as well as to add to the housing stock in pre-existing neighborhoods in the state.

Currently, the federal government owns 88 percent of the land in Clark County along, with over half of that property – 2.9 million acres – managed by the Bureau of Land Management (BLM). The failure to release parts of that land for development has contributed to the current housing crisis being experienced in Southern Nevada, experts say.

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 Clark County Board of County Commissioners this week approved two grants totaling $21.9 million from the Clark County Community Housing Fund (CHF) to be disbursed to a developer as part of its “Welcome Home” program, which helps to provide badly-needed affordable housing projects to the Las Vegas Valley.

The grants were awarded to Ovation Development Corporation and its nonprofit partner, Coordinated Living of Southern Nevada (CLSN), who will be tasked with building two facilities that will total nearly 600 affordable apartments.

Construction is anticipated to begin on the first development at the tail end of 2025, and will take the form of a 194-unit affordable senior community located near Burner Avenue and South Las Vegas Boulevard. The second development, slated to break ground in the first half of 2026, will be located in West Henderson on a plot provided by the Bureau of Land Management, and will offer 390 units for low-income working families.

To date, the “Welcome Home” program has awarded a total of $66 million in grants, spread out amongst nine applicants, in order to fund the construction of affordable housing units throughout Clark County. In all, this will result in a grand total of 1,273 units once all work is completed.

Alan Molasky, Chairman and Founder of Ovation Development Corporation, noted that he steadfastly believes everyone is entitled to a place to hang their hat at the end of the day, and is proud that Clark County has shown confidence in his company to help address the affordable housing crisis in the Las Vegas Valley.

Every Ovation project begins with our commitment to the steadfast belief that everyone, regardless of income, deserves a quality home that helps to strengthen individuals, families and community,” Molasky said. “We are grateful for the trust put in us by Clark County, and we do not take this responsibility lightly. This trust is a testament to the incredible work of the entire Ovation/CLSN team and the positive impact we continue to make in our community in our mission to help address Southern Nevada’s critical shortage of affordable housing.”

View a complete list of Welcome Home Community Housing Fund projects.

For more information on the Welcome Home program visit: https://www.clarkcountynv.gov/residents/community_housing_fund/index.php

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 – New data from Redfin indicates that apartment rental rates in Las Vegas are increasing faster than the national average, a development driven both by strong demand and an overall limited amount of inventory, among other factors.

Many other cities in the Southeast and Southwest United States have seen rental rates dropping when compared to last year, with the average rate having increased 1.7 percent by the end of April and 1.1 percent year-over-year. However, Las Vegas has bucked that trend, with rates having increased 2.4 percent by the end of April and 1.7 percent year-over-year.

Furthermore, Colliers International’s recently-released first-quarter report noted that the situation in Las Vegas could get worse come 2025, as by that point the pipeline for new multifamily projects in the valley will have dried up, which in turn could lead to a significant spike in rental rates.

The forward-looking supply and demand fundamentals for multifamily continue to be strong and will get stronger through 2025-2026,” the report stated. “This is due to a strong economy and the current difficulties that persist to start new projects in this environment. Sales will continue to be slow in the foreseeable future until we can experience improvements in the capital markets. But overall, we’re very bullish on the performance of Las Vegas apartments going forward.”

1,130 new apartment units were added to the Las Vegas Valley in the first quarter of 2024, which represents an increase from the 543 units added during the same period one year prior. In addition, more apartment construction projects were recently finished in Henderson, North Las Vegas, and the southwest valley, and currently another 6,625 multifamily units are currently under development.

And finally, the Redfin report noted that another contributor to rising rental rates in Vegas are the still high level that interest rates for home mortgages currently are at.

Elevated mortgage rates are likely bolstering U.S. rental demand, and as a result, propping up prices,” the report said. “The average 30-year-fixed mortgage rate is more than double the 2.65 percent record low hit during the pandemic. Some renters are putting off their home purchasing plans because monthly payments for homebuyers are near their all-time high.”

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 anticipation of increased tourism during the upcoming Memorial Day weekend, Clark County officials have begun to ramp up their enforcement of short-term rentals operating within their borders that are doing so without a license.

Clark County will have their STR enforcement team out combing the streets in response to community complaints; as of May 21, 2024, the team has already issued close to the same number of citations – 289 – for unpermitted short-term rentals than they did for the entirety of 2023, when that number was 348.

In addition, Airbnb have stated that they are also cracking down on rentals in the area this weekend that are potentially being booked to host large and unruly parties. Currently, the online short-term rental platform is running reservation requests through an automated process that examines all information available – the prior history of both the host and the guest, the timing of the reservation, and numerous other factors – in order to approve or deny the customer’s stay in Clark County.

A similar process that Airbnb had in place in Las Vegas for Memorial Day weekend in 2023 resulted in over 1,000 applicants being turned away from renting properties through their platform.

The intense crackdown on unpermitted short-term rentals in Clark County is occurring while homeowners wishing to rent out their abodes through services such as Airbnb and Vrbo continue to wait for the ongoing application process for a license, which so far has taken nearly two years.

The delays on the part of Clark County are causing intense frustration for many, said Greater Las Vegas Short-Term Rental Association founder Jacqueline Flores, who noted many homeowners are missing out on vital income that they could otherwise be getting.

It’s very frustrating. I mean, the homeowners are outraged,” she said. “Who knows how long that’s going to take the county because we don’t know if they’re going to do these hearings daily or just on certain days of the week. Are they just going to be monthly hearings? So, we don’t know how long that process is going to take.”

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’ downtown is sorely in need of new housing options for its inhabitants, and as a means to address that issue, construction is currently underway on a large, new mixed-use project in the 18b Arts District that looks to combine apartment units and retail, spread out amongst several buildings.

The project – located at 1200 S. 3rd Street, and dubbed 3rd Street Assemblage – is slated to take the form of three seven story, mid-rise apartment buildings that will offer a total of 337 units for rent, in addition to ground level retail and restaurant space totaling 8,500 square feet in size.

Along with residential and retail space, 3rd Street Assemblage, upon completion, will also offer a 353-space concrete parking structure – complete with electric vehicle charging stations – that will be available for tenant use so that they can avoid having to park their cars on the street.

The developer of the project, Southern Land Company, is also responsible for the Auric and Symphony Park II and III mixed-use projects as well.

Las Vegas Mayor Carolyn G. Goodman said that the development of 3rd Street Assemblage would be an exciting boon to the city’s arts community, which she said so far has been underserved in terms of housing options.

The 18b Las Vegas Arts District continues to be an exciting area that is an inviting destination for artists, visitors and residents,” she said. “For our local arts community, the area has long been ground zero, so it’s particularly exciting to see new housing opportunities take shape for those desiring to live in the epicenter of Las Vegas’ arts community.”

At the groundbreaking for the 3rd Street Assemblage project held in March, Southern Land Company presented a $5,000 donation to the First Friday Foundation to illustrate their commitment to supporting the city’s arts district.

The project is expected to be completed in late 2025; leasing for apartments is slated to begin in the second quarter of 2025, followed by retail leasing in the third quarter of that year. For information on availability, the Southern Land Company is your best bet.

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 – Two developers – Cherry Development and Schulman Properties – have pitched two separate mixed-use apartment complexes for the downtown Las Vegas area that, when completed, will produce almost 400 units in an effort to address the housing shortage in the city.

Based in Las Vegas, Cherry Development is slated to hold their official ground-breaking later in March on their delayed $27 million shareDOWNTOWN project – originally slated to open in June 2020 – which is located on 1.2 acres of city-owned land at 1100 D Street, the former location of the Greater New Jerusalem Church.

In order for the developer to keep the project costs low and, in turn, keep tenant rent at affordable levels, the city is selling the land to Cherry Development for just $6. When completed, shareDOWNTOWN – which is catering to individuals who work in Las Vegas and who wish to reside near its downtown area – will take the form of a five-story building with 104 one-bedroom apartments, each one approximately 500-square-feet in size. It will feature 20 units going for the current market rate, and 84 units with rent caps determined by the U.S. Department of Housing and Urban Development.

shareDOWNTOWN will offer a business center, a fitness center, a community kitchen, a co-working area with private conference room and an outdoor courtyard. In addition, there will also be a retail component on the ground floor, mainly consisting of restaurants and other assorted eateries, as well as an 8,400-square-foot shop.

The other project – Schulman Properties’ six story, $115 million Ilumina Midtown, located near Charleston Boulevard and Grand Central Parkway – targets a different demographic in the city, as it will offer 275 luxury apartments ranging in size from 600 to 1,800 square feet. It will also have numerous high-end amenities for its tenants, including a 4,000 square-foot restaurant, a 40,000 square-foot health club, a gym, a pool, sports courts and a co-working area.

Ilumina Midtown is currently pending approval by the Las Vegas Planning Commission in April; if given the go-ahead, development is anticipated to begin in spring of 2025, with completion expected in either the summer or fall of 2026.

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 the Las Vegas Valley a tiny home is generating big demand from desperate Las Vegas renters on a budget, with its landlord receiving scores of inquiries from prospective tenants, a situation he said he was not expecting, according to Fox 5 Las Vegas.

The 160-square-foot residence is listed for just $950 a month – half the average rent in the valley, which is currently $1,745 – and is located on the landlord’s own property; he said he built it himself for just $22,000, and did so as a way to help out people during the ongoing economic downturn that the country has been experiencing.

I’ve literally [had] 113 and counting people. [My phone] keeps ringing on wanting to rent it,” the landlord said, who asked to remain anonymous when speaking to local media. “It’s definitely in people’s heart to want to save some money right now. This economy’s tough, and just doing my share on trying to help someone out.”

This isn’t the first time that this generous landlord has put such an offering on the market, having built dozens of other small homes that he rents out. In 2021, the Nevada State Legislature passed a law that requires cities whose populations are higher than 150,000 to create zoning laws for tiny homes, with compliance required by 2024.

The $950 rent includes all utilities and services, including water, electricity, internet, garbage removal, and plumbing. The interior boasts a small pull-down table for dining, a kitchen with a cooktop stove, a bathroom, a washer and dryer combo, and a bedroom located in an upper loft overlooking the main floor.

In addition, the tenant that snags this property will also enjoy a small backyard space, including a garden and a table and chair.

The landlord noted the interested parties run the gamut from a family of four to numerous single parents with children and pets. But the one uniting factor that all of the prospective tenants share is a need for affordable housing, and they are apparently willing to sacrifice some living space in order to acquire 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 – Short-term rentals, STRs, are a major money-making business in the United States, and a new report indicates that among all of the cities in the country, the ones located in Las Vegas are among the very most profitable short-term rentals in the entire country.

The housing market in Las Vegas shot to unprecedented heights during the COVID-19 pandemic, with the median price of a single-family home jumping by over 50 percent by May 2022. Nearly 100,000 new residents moved to Southern Nevada during the same period of time, creating a seller’s market the likes of which had not been seen in many a year.

While most of the homes purchased during this span of time were by families and individuals who had relocated to the state, a large number of them were bought by investors seeking to turn them into STRs, a logical occurrence given the fact that Las Vegas is one of the most well-known destinations for tourism on the entire planet.

A new report released by finance experts Wealth of Geeks compared the average nightly rate of STRs in major cities across the United States, and contrasted that data with the average weekly wage in the same city, as provided by the U.S. Bureau of Labor Statistics. When comparing the two sets of information Wealth of Geeks were able to figure out what percentage of their weekly earnings could be comprised of income from Airbnb ownership.

Among major U.S. cities, Las Vegas came in at number five on that list, with the average nightly rate being $312. And with the median weekly wage in Las Vegas being $724, the average profit made from a nightly rental rate would translate to approximately 43.1 percent of the owner’s weekly income, according to Wealth of Geeks’ data.  

Of course, STRs are typically not rented out seven days a week, 365 days a year; however, even a slow short-term rental can still generate a significant degree of revenue for its owner in Las Vegas. An example of a slow month could be comprised of two three-night weekends a month, which would bring in $1,872 in profit alone; during busier months, a fortunate owner could book all four weekends, and if they are using a four-night minimum, that would get them $4,992 a month.

And one thing about Las Vegas, experts say – there aren’t many slow months.

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 report by Zillow, Las Vegas residents need to be earning nearly $70,000 a year to be able to afford rent in the valley, an amount that is currently higher than the median household income. The current rental asking price comes in at $1,745, a 1.9 percent year-over-year increase and a whopping 34 percent jump since the beginning of the COVID-19 pandemic.

As of 2022, the U.S. Census Bureau estimates that the median annual income for a household in the Las Vegas Valley was $66,356; experts note that dollar amount has not risen by any significant degree in subsequent years due to decreased national wage growth.

In early 2021, the average household needed to be bringing in $52,000 a year to afford rent, meaning that the Las Vegas Valley has experienced the 15th largest increase of all major metro areas in the country.

Rent is typically considered “affordable” if it is takes up less than 30 percent of your monthly income. Rental rates in the Las Vegas Valley actually dropped slightly at the beginning of 2024.

Senior public relations specialist with Zillow, Mark Stayton, notes that the Las Vegas Valley is currently in an unusual situation where the number of units to rent and rental rates are both increasing.

The vacancy rate, which is seasonally adjusted, in Vegas is 9 percent, and has risen by 2.5 percentage points over the course of the pandemic,” he said. “that’s the 12th largest hike among the 50 largest U.S. metros by population.”

However, Skylar Oslen, the chief economist at Zillow and author of the company’s January rental report, predicts that rental rates should start going down across the country in 2024 due to the record levels of apartment construction that is currently underway.

Softer rent growth is ultimately good news for today’s renters who have faced significant financial strain from both general and rent inflation throughout the pandemic,” she said. “With wage growth now slower, but still persistent, rent affordability, the share of a typical household’s income that would go to market rate asking rent, stabilized over the past year at 29 percent. That’s down a percentage point from the record high set in June 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.