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Category Archive : Rentals

Las Vegas Real Estate

New Report Indicates Rents Increasing in Lower Income Neighborhoods While Lowering in Higher Income Ones

LAS VEGAS, NV – A new report from UNLV’s Lied Center for Real Estate confirms an ongoing trend in Las Vegas as of late where rents are increasing in poor and middle-class neighborhoods, where in contrast they are consistently lowering in more affluent areas, with several factors contributing to this developing issue. 

Las Vegas-area realtor Michelle Gamble said that many of her lower-income clients are facing a hard time out there in terms of the increasing amounts of money they must devote to rent, noting that currently, “the market is tough.” 

I’ve had clients who came into Nevada, they moved here about four years ago where they were paying like $900 a month,” she said. “Now their rent is up to $1500 and $1600. And no upgrades.” 

Another realtor, Steve Hawks, confirmed the ongoing issue where lower and middle-class rents are rising, whereas rents in rich areas are dropping; this is a phenomenon that he attributes to the low home mortgage interest rates that many buyers took advantage of during the COVID-19 pandemic. 

The higher-end rents are coming down quite a bit. The lower-end to mid-range rents are staying steady. Maybe going up a little bit,” he said. “Many sellers are no longer selling their home to buy another. Instead, they’re renting their home out because their interest rate is so low and their payment is so low.” 

In contrast, Hawks said, the recent price increases at the lower end of the rental spectrum can most likely be attributed to out-of-state hedge funds that snapped up a great deal of affordable housing in the region who are now looking to turn a quick profit. 

They pretty much control the rental market in that arena under $500k. They have by far the most rentals,” he said. “This is what happens when you have big corporate America buy single family houses where people can’t rent. People can’t buy. What does that do? It causes prices to go up. It causes rents to go up. That’s the number one problem right there.” 

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of HendersonLas 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

Number of Illegal Short-Term Rentals Increase Amid Clark County Licensing Delays

LAS VEGAS, NV – Amid Clark County’s numerous delays issuing licenses for short term rentals within its borders, more and more homeowners are illegally listing their properties for rent on services like Airbnb and VRBO, risking serious fines if they are caught. 

Homeowners who are prospective short-term rental operators have been vocal in their complaints about the county’s slow licensing process as the typically busy summer season is passing them by; many are also worried about missing out on tourists visiting the region for upcoming Formula 1 races.  

Currently, Clark County officials have not provided a timeframe for when the first licenses will be issued, only initially stating that applications must be submitted by late June; this date was later pushed back to late August after some homeowners complained that they did not receive pertinent information in the mail following a March 29 pre-application lottery. 

According to Greater Las Vegas Short-Term Rental Association (GLVSTRA) President Jackie Flores, due to the delays some homeowners have resorted to clandestinely listing their rental properties online in order to help cover the costs incurred by their currently empty units. 

They’re stuck in a situation where they have bills to pay,” Flores said. “We have told [county officials] many, many, many times.” 

Homeowners who were previously operating short-term rentals were required to stop doing so in order to apply for a license. Leslie Doyle, 83, said that she has lost 50 percent of her income by doing so, and the delays are crippling her financially. 

Some of us will die waiting,” she said. “We [seniors] are the ones who need it most.” 

If caught, the penalties for running unlicensed short-term rentals in Clark County are stiff, ranging from $1,000 to $10,000 a day and even a potential visit from the Las Vegas Metropolitan Police Department. 

Currently, GLVSTRA is in the process of suing Clark County over the proposed regulations governing short term rentals, claiming that some of them are unconstitutional. Barring any delays, the Nevada State Supreme Court may hear the case in December. 

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of HendersonLas 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.

Shelter Realty

Growing Las Vegas Rental Market Giving Rise to “Phantom” Property Scams; How to Stay Safe

LAS VEGAS, NV – With the rental market in Las Vegas growing by leaps and bounds as of late, this positive situation has unfortunately also given rise to an equally hazardous one – an exponential increase in the number of rental scams, which have already cost would-be renters of homes and condos in the valley thousands of dollars. 

Patsy Wagner had wanted to move to Las Vegas; unbeknownst to her, the individual she contacted about a home they claimed to be renting was a scammer, who took her for a $950 down payment but then never showed up at the address to meet her in person. 

I cannot tell you how many times I sat there for two hours waiting for this scammer to show up and never showed up. He had excuses,” she said. “I never thought this would happen to me. I’m supposed to be smarter than that.” 

Unfortunately, Wagner’s experience mirrors that of a growing number of people in the Las Vegas real estate market as of late; experts say the problem is mainly caused by people who are not utilizing licensed realtors when looking for a rental. 

If they would have used a licensed realtor, I’m pretty confident that maybe none of them would have been scammed,” said one local realtor, who noted that he had had six clients who had come to him after being scammed out of as much as $3,000 beforehand. 

Many scammers prey upon their victims by creating a “phantom rental,” which is essentially a fake listing; some of them even manage to gain access to lock box codes to show houses to individuals who are interested in renting them, which adds a veneer of legitimacy to their attempted grift. 

Expert say that the best way to avoid being scammed when looking to rent a house or condo is to only deal with a licensed realtor, and to try not paying any money up front if possible. In addition, never wire money, don’t provide a security deposit or first month’s rent before signing a lease, and be especially wary of property owners or realtors who do not wish to meet you in person.  

In addition, if you are the victim of a scam, you can report it to the Better Business Bureau of Southern Nevada by clicking here

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of HendersonLas 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.

Construction

Advisory: Using a Handyman Instead of a Licensed Contractor Can Seriously Cost Nevada Landlords 

LAS VEGAS, NV – Being a landlord of a rental property typically comes with many responsibilities, and one of the major ones is dealing with regular upkeep, maintenance, and repairs that will inevitably be required as a result of not only normal wear and tear, but tenant negligence, acts of nature, or a variety of other factors. Issues could range from a leaky faucet or broken water pipe all the way up to replacing an HVAC System or even an entire roof.  

But while approaching a maintenance or repair job may seem fairly straightforward to the uninitiated, exactly who a landlord chooses to employ to go about it can have major financial repercussions for them, as well as their management company, if they are not familiar with the laws in their state that mandate licensure requirements based on the size and complexity of the job at hand. 

The Nevada State Contractors Board (NSCB) is a quasi-governmental consumer protection and advocacy agency empowered by the state – according to their website – to ensure “the integrity and professionalism of the construction industry in Nevada. The NSCB has the responsibility to promote quality construction by Nevada licensed contractors through a regulatory licensing system designed to protect the health, safety and welfare of the public.”

Essentially, the NSCB is tasked with “determining the qualifications of applicants prior to licensing, setting forth conditions for licenses, such as limiting the field and scope of the operations of a licensed contractor, bond requirements and establishing maximum contractual limits.” The NSCB is also empowered to create rules and regulations governing the construction industry within the boundaries of the state, and is able to enforce them by levying penalties upon violators, such as fines and other punitive measures.

One particular aspect of NSCB regulations that Nevada landlords should be especially careful to abide by comes to the type of individuals or companies they employ when conducting repairs on their rental properties. While a local handyman who does not meet specific NSCB licensing requirements may be acceptable to conduct minor maintenance or repairs upon a property, any work that goes above the value of $1,000 – and if it requires a specialty license such as electrical, plumbing and heating, refrigeration and air conditioning, roofing and siding, or so on – must be carried out by NSCB-licensed contractors who are considered experts at their respective trades.  

Not adhering to this important aspect of Nevada state law (NRS 624) can see a landlord slapped by the NSCB with numerous penalties, including significant fines and more.

Landlords should also beware of repairmen who tout themselves as being a “licensed handyman,” as no such thing actually exists within the state of Nevada. While anyone conducting business in the state must possess a business license, this is not the same thing as having a contractor’s license granted to qualified individuals or companies by the NSCB. Based on this fact, the scope of services that a handyman is able to provide in the state is curtailed by law, and attempting to circumvent that law for any reason could result in serious consequences. 

For one, a landlord could find themselves fined or otherwise penalized by the NSCB, as mentioned earlier in this document. But perhaps even more importantly, work carried out by an unlicensed handyman who does not meet the skill requirements mandated by state law could potentially carry out extremely shoddy repairs that ultimately could result in additional expenditures down the line at best, and potential danger to a landlord’s tenants and/or property at worst. 

Under Nevada state law (NRS 624.031), there are also numerous aspects of home repair and maintenance that are illegal to be carried out by a handyman, unlicensed contractor, or homeowner who intends to either sell or lease the residence within one year. These illegal acts include work normally performed by a licensed Plumbing, Electrical, or HVAC contractor; any work that requires an official permit to carry out; a job where the combined cost of material and labor are in excess of $1,000; and any work related to safety measures. 

Also, according to the NSCB, contracting without a license is considered a crime in the state of Nevada; as per the agency’s website, “It is unlawful for any person or combination of persons to engage in the business or act in the capacity of a contractor within the state of Nevada or submit a bid on a job situated within this state without having an active license.”

The first offense is a misdemeanor, second offense a gross misdemeanor, and third offense a Class E felony, according to the NSCB. 

As you can see, the facts clearly speak for themselves; a properly responsible landlord should always leave major repair work to properly licensed professionals, without fail. Cutting corners with a handyman just to hold onto a few bucks or avoid red tape can cost you way more than you save in the long run. 

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of HendersonLas 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.

Repairs

Nevada Law Preventing Landlords from Charging Tenants to Perform Repairs Takes Effect July 1

LAS VEGAS, NV – Out of the record-breaking 75 bills that were vetoed by Nevada Governor Joe Lombardo in June that pertained to housing in the state, the lone piece of legislation that he signed into law at that time – SB 381, which prevents landlords from charging tenants certain fees to perform repairs – is officially due to take effect on July 1. 

SB 381 officially mandates landlords to not charge their tenants any fees for repair work or regular maintenance required by Nevada state law, as long as the reason for said work is a part of normal wear and tear or are issues that otherwise occur naturally over the course of time. 

However, if the repairs or maintenance or as a result of purposeful action or negligence on the part of the tenant, their occupants or guests, then the landlord is allowed to charge any fees that are deemed necessary for the work involved to restore the property to its previous state. 

As per the new law, Nevada landlords are unable to recoup the costs of repairs from their tenants by either a “pass through” – meaning a combination of interchange fees, assessment fees and payment processor fees that can be bundled together or itemized on the monthly rental bill and charged to the tenant – or by direct reimbursement, as long as the repairs in question are required by law to be paid for by the property owner. 

One major aspect of the law that must be highlighted is that SB 381 only applies to fees and costs associated with habitability – defined in NRS 118A.290 – which maintains that the landlord “shall at all times during the tenancy maintain the dwelling unit in a habitable condition.” This concerns keeping the property in suitable or good enough condition to live in, such as ensuring proper waterproofing, plumbing is in working order, adequate heating and electrical, and so on.  

That being said, landlords should still be allowed to charge fees for issues not related to habitability, according to legal experts.  

Property owners and managers are encouraged to seek out legal counsel to ensure that their paperwork and practices are in compliance with SB 381, and make revisions where needed. 

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of HendersonLas 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.

Luxury Apartment

Las Vegas Developers Working to Meet Increased Demand for Luxury Apartments

LAS VEGAS, NV – Las Vegas has always been associated with a degree of opulence, and apparently that’s never been truer than it is now as developers have been working overtime to meet the recent increased demand for luxury apartments within the city.

Tim Deters, president of Tru Development, said that the recent boom in demand for luxury rentals is directly connected to the increasing Las Vegas employment market, combined with the relatively low cost of living when compared to neighboring states. These two factors, he said, contribute to people having the extra cash on-hand needed to enjoy the finer things in life.

We’ve had a tremendous amount of new jobs here and affordable living,” Deters said. “So it allows people to spend more money on discretionary areas like their living. Then, we’ve also seen a huge influx of residents coming in from California.”

Tru Development is a Las Vegas-based service that specializes in nearly all aspects of real estate, including retail, commercial, and residential, with Deters noting that local developers are continuously raising the bar in terms of the high-end perks and touches that people expect out of their luxury accommodations.

I believe we developed one of the first of what I would call true luxury projects called Kaktus Life over in the Southern Highlands,” he said. “The amenities, the interior finishes. I think those are the two key areas. We all keep raising the standard. Clubhouses are getting bigger. Pools are getting bigger.”

Currently, the average rent in Las Vegas is $1430 per month, according to the Nevada State Apartment Association; however, a recent report indicated that many residents would be willing to pay that for the right assortment of luxury trappings and perks.

According to Deters, prices for rent jumped approximately 25 percent after the end of the COVID-19 pandemic. However, those prices are slowly starting to come down, which is helping to drive the increased demand for high-end apartments, as people are starting to get more bang for their buck once again. 

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of HendersonLas 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.

Insurance

Las Vegas Applicants for Short-Term Rentals Encountering Issues Obtaining Insurance

LAS VEGAS, NV – In addition to delays in the pre-approval process on the part of Clark County and early regulations that were considered overreaching and burdensome by many, the latest hurdle that applicants for short term rentals in the Las Vegas area are encountering is difficulties in obtaining insurance

According to Las Vegas insurance broker Tiffany VanTuyl, Clark County’s short-term rental regulations are utilizing uncommon and confusing terminology when it comes to insurance requirements which are causing issues for her clients who are attempting to submit applications. 

The problems, VanTuyl noted, are due to the regulations that specifically state the following: “Evidence of general liability insurance in the amount of at least five hundred thousand dollars per occurrence that indicates the property is used for transient lodging.” 

The complication is with the term “transient lodging,” which VanTuyl said is not utilized in her industry and is causing a roadblock for her clients who are attempting to obtain coverage. 

No insurance company that I’m familiar with uses that term,” she said. “They use either ‘short term rentals’ or ‘seasonal lodging.’ Every company uses different terminology, so it’s not a cookie cutter coverage.” 

VanTuyl stated that she has reached out to Clark County officials about the issue, but claimed that they have been dragging their feet on assisting her with a resolution, frustrating her clients who have already experienced problems with the short-term application process. 

They did say that they wanted it to say a specific terminology and I’ve sent documents from the underwriting department of two different companies, and they have not responded yet,” she said. 

Louis Koorndyk, co-founder of the Greater Las Vegas Short Term Rental Association. said that he has also been experiencing complaints from renters who have attempted to contact the county over the confusing terminology and have often received conflicting information in response. 

Whoever picked up the line at Clark County will say it absolutely has to say, ‘transient lodging,’ it cannot say seasonal,” Koorndyk said. “Then somebody else will make that exact same phone call and get different information, ‘yes, it may say seasonal.’ So, we have this confusion going on.” 

Clark County officials approved approximately 1,200 short-term rental pre-applications in May, allowing those individuals to proceed with the process of acquiring a full rental license. 

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of HendersonLas 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 Rental

Following Random Drawing, Clark County to Send Out Notices to Short-Term Rental Pre-Applicants

LAS VEGAS, NV – Clark County will be sending out notices to potential short-term rental applicants following the recent conclusion of a random lottery drawing, with anyone who submitted a pre-application slated to receive their results within eight weeks via certified mail and e-mail; an extended span of time that is causing frustration for many would-be renters.

Among those who pre-applied to run a short-term rental within the confines of Clark County, 1,169 of those applications were deemed as eligible, whereas 137 were declared ineligible.

Among the reasons for failing to qualify as a short-term operator that were cited by county officials included the property being located within 2,500 feet of a resort hotel; being located outside of unincorporated Clark County; being located in an ineligible township; and being located within a building that is classified as a timeshare or vacation home.

Despite the fact that county regulations mandate that all licensed short-term rentals maintain a minimum distance of 1,000 feet from one another, no distance requirements were mentioned after the lottery drawing.

The 1,169 pre-applicants who were successfully drawn in the lottery will be allowed to submit an official application to become licensed as a short-term rental owner operator upon receipt of their notice.

However, the eight-week delay in the notices going out is causing confusion among pre-applicants who are uncertain whether or not to begin making plans for the future, according to Greater Las Vegas Shorter Term Rental Association co-founder Louis Koorndyk.

“The host community is very frustrated with Clark County. They’re trying to make plans; they’re trying to plan their future. They’re trying to figure out, what do we do with this property?” he said. “Expedia has been reaching out to us and asked us questions. They’ve even emailed us saying, look, we’ve seen licensing process put in effect across the country. We haven’t seen anything take this long before.”

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of HendersonLas 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 Turning into a Renter

Is Las Vegas Turning into a Renter’s Market? Experts Weigh In

LAS VEGAS, NV – Numerous listings for rental properties in Las Vegas are showing that landlords and property managers in increasing numbers are offering various incentives to draw in tenants, a situation that until recently was not the norm. This situation is begging experts to question if Southern Nevada is slowly transitioning into a renter’s market after years of skyrocketing rents and low vacancy,

Kiara Ringgenberg and her boyfriend were moving in April from Helix on Alta Drive to Ely at Fremont Street in downtown Las Vegas, and were surprised to discover that their new landlord was only too happy to go out of their way to accommodate their moving schedule.

We were going to move in May since that’s when our lease was ending, but we wanted to move sooner rather than later,” she said. “Ely offered us two weeks of no rent to get us moved in on the timeline we wanted.”

In addition to the free rent, Ringgenberg also noted that Ely now also offers tenants free passes each month to local events that provide food and entertainment, a growing situation in Las Vegas as of late.

Listings for multifamily developments in Las Vegas recently are offering more and more perks to lure in or retain tenants, reports say, such as a free month’s rent or parking, echoing trends that are occurring across the United States.

According to real estate listing company Zillow, approximately 27 percent of rentals who advertise via its platform are offering at least one concession or more, representing a 6 percent increase when compared to the same period of time in 2022.

In Las Vegas rents decreased by 2.2 percent year-over-year during the first quarter of 2023; the average rent in the valley is now $1,430 per month.

According to the Nevada State Apartment Association (NSAA), renters in Las Vegas are currently getting a bit of an edge in the housing market due to high interest rates that have resulted in a “decrease in rent prices with growth in available units.”

Reasons for this shift include upcoming inventory increases, current vacancies and changes in renter patterns,” the NSAA said. “It is not uncommon, when these trends exist in a market, for landlords to offer concessions to renters to incentivize them to renew their lease or to attract new tenants to a unit. These concessions could include a free month of rent, reduced security or rent deposits, upgraded parking or more.”

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of HendersonLas 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.

Henderson megamansion

Why Buy A Mansion When You Can Rent One – Henderson Megamansion Available For $100,000 A Month?

HENDERSON, NV – One of the most appealing parts of living or spending time in Las Vegas is the feeling of luxury. While some permanent residents opt to purchase large homes in the area, rental properties can also pack the same iconic Las Vegas glitz and glam. 

For instance, just outside of Las Vegas sits the most expensive rental in the area — a 15,000-square-foot megamansion. The sprawling complex sits on over 2 acres of land in Henderson

Along with a great, unobstructed view of the strip, the property also features a stunning look at the surrounding mountains. However, the amenities of the megamansion don’t stop there, as the compound also boasts unique features like an 18-car garage and a chef’s kitchen with two islands. 

Those looking to enjoy the great outdoors can do so by taking a dip in the property’s 50-foot-long edgeless pool. Once finished soaking, the spa is the perfect relaxation spot before heading inside. 

Potential tenants who love to entertain will be happy to hear the mansion has a rooftop party deck with beautiful views of the area, especially at night when the strip shines the brightest. The deck area also features a pizza oven and a barbeque area for grilling. 

https://twitter.com/reviewjournal/status/1643327602524913664

The inside of the home has room for multiple family members with access to seven bedrooms and 11 bathrooms. Families with kids and teenagers will notice many fun areas of the house for everyone to enjoy including:

  • Bowling alley
  • Movie theater room
  • Indoor basketball court
  • Wet bars and wine closets with wine or soda on tap

If you and your family are looking for a dream house that embodies Las Vegas, this megamansion is a great place to visit. 

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of HendersonLas 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

Clark County Votes to Update “Unconstitutional” and “Vague” Short-Term Rental Ordinance

LAS VEGAS, NV – Officials in Clark County Nevada unanimously voted Tuesday to amend their ordinances governing short-term rentals within its jurisdiction in order to update regulations that a judge had previously ruled to be unconstitutional.

Previously, a lawsuit filed by the Greater Las Vegas Short-Term Rental Association (GLVSTRA) had resulted in a preliminary injunction being imposed by District Court Judge Jessica Peterson, who had ruled that certain aspects of Clark County’s short term rental ordinances regulating the local industry were “vague” and “unconstitutional.” 

County attorney Lisa Logsdon said this week the commissioners agreed to clean up the language in their guidelines, noting that the county “took many of the court’s suggestions in drafting these amendments to ensure that the amendments address the court’s concerns with the ordinance.”

The changes to the ordinance are as follows:

  • Renters are no longer required to sign applications under penalty of perjury.
  • Inspectors must now provide 48 hours’ notice before showing up to inspect a property; previously, no advance notice was required.
  • Large parties are still forbidden at short term rental properties, but the previously “vague” definition of what constitutes a large party has been stricken from the regulations.
  • The county will now rely on existing code that regulates noise, lighting and air-quality standards.

However, GLVSTRA President and Director Jacqueline Flores issued a statement reacting to the news of Clark County’s revisions to their ordinance, saying that she did not believe they would be sufficient to alleviate the concerns of the over 700 homeowners that her organization represents.

“Many of those amendments do very little to fix the infirmities the Court has serious issues with and in other cases the County just didn’t fix some of the Sections at all,” she said. “The County is doing very little or nothing at all to satisfy the unconstitutionality of those provisions.” 

Logsdon noted that Clark County officials are eager to arrive at an agreement that would satisfy GLVSTRA’s lawsuit, saying that the district attorney’s office had requested that the association draft a “written settlement offer” and submit it for their consideration. 

Flores responded that there was a lack of interest on the part of Clark County commissioners last month to discuss a potential settlement, but noted that if their attitude is now different, she would be willing to discuss it with them.

“If the County Commissioners have now changed their mind, then we welcome that conversation,” she said.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of HendersonLas 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

Nevada Legislature Introduces New Bill That Would Require Landlords to File Affidavit Before Eviction

LAS VEGAS, NV – The Nevada Legislature last week introduced Assembly Bill 340, which, if passed, will change how landlords in Nevada can evict tenants from their properties by forcing them to first file an affidavit in court before they are allowed to start the eviction process

AB 340 was presented to the Nevada Legislature Assembly Judiciary Committee last Wednesday, with the sponsors of the legislation saying that its intent is to protect tenants in the state who are struggling to keep up with increases in their rent.

A local organization backing the bill, Battle Born Progress, said that it would give tenants more time to respond to an eviction request by mandating landlords to file a court order before they can serve an eviction notice.

“If a landlord needs to evict a tenant that can still happen,” said Battle Born Progress representative Will Pregman. “But there needs to be an ability for the tenant to reasonably respond to it.”

But while some groups are supporting the bill, many others are criticizing it; Derek Moellinger of Vice Realty Group, which manages apartment complexes, issued a statement condemning AB 340 while also referencing a previous piece of pandemic-era legislation – AB 486, set to expire in June – which stays an eviction proceeding if a tenant has an application for rental assistance pending.

“Landlords have been destroyed in the state because of AB 486. Now the state seeks to further damage landlords with this new bill. I am an investor and I manage almost 1000 properties and I will not put one dollar of my own money into Nevada,” he said. “I counsel every one of my investors to move out of this state and move to a state that actually has fair eviction laws. Right now, in Nevada a tenant can claim to have applied for rental assistance and with that claim, whether true or not, the eviction process will take a minimum of six months and can go as long as a year. During that entire time, the landlord receives no money; and when the tenant finally moves out, the landlord has no recourse to regain any of that lost money. The tenant can then break back into the unit and it is not considered a crime. It’s a civil matter, and the landlord must go back to court and try to remove this person again.”

“These are the kinds of laws that landlords have to deal with in Nevada right now and it’s insane to me that the state wants to further punitively damage landlords when housing is the scarcest resource Nevada has,” Moellinger continued. “You have Investors like me and my friends who have millions of dollars at their disposal and refuse to spend a dollar of it in Nevada anymore. We used to be the reasons blocks were repaired and we were the reason tenants were placed. We were the reason things improved for low-income people. Now it’s a disaster in this state and it’s only going to get worse because the state is chasing away the only people who are willing to actually make a difference, which are owners.”

AB 340 would have to be approved by the state assembly and senate before it could be signed into law by Nevada Governor Joe Lombardo.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of HendersonLas 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.