Category Archive : Rentals

LAS VEGAS, NV – Last week, Clark County held a lottery to rank applicants for potential licenses to operate short term rentals via services such as Airbnb and Vrbo, although a group representing rental operators criticized the drawing, calling it unnecessary and confusing.

Greater Las Vegas Short-Term Rental Association (GLVSTRA) President Jacqueline Flores complained about the lottery, essentially calling it a waste of time.

“It is important to highlight that the Clark County Short Term Rental Lottery today will serve no purpose other than to merely establish the order in which applications will be reviewed by the County staff,” she said. “This is not what will ultimately determine who will get a license.”

The lottery, which was held on March 29 in a closed-door meeting that was streamed online and broadcast on local public television stations, placed the 1,306 forms that the county had received over the course of a six-month application process into a “random number selector.” However, while officials have yet to reveal how many licenses they will ultimately grant to applicants, they have clarified that they will not exceed 1 percent of the county’s existing “housing stock.”

The lottery – carried out by Smartplay International Inc., with the results tallied by consulting firm Baker Tilly U.S. LLP – took place despite a preliminary injunction having been 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 where “vague” and “unconstitutional.”

That injunction came as a result of a lawsuit filed against the county by GLVSTRA, which has petitioned the Nevada Supreme Court to rule on the case. Currently, Clark County officials are attempting to make changes to the short-term rental ordinances that were struck down by the District Court judge last month.

Before Clark County began the process of establishing legal short-term rentals within its boundaries, officials estimated that there had been previously as many as 10,000 homes without permits being rented out illegally.

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 – Despite the fact that Clark County officials have recently stated they plan to make changes to some of the rules governing the short-term rental industry within their jurisdiction, that doesn’t appear to be enough for the Greater Las Vegas Short-Term Rental Association (GLVSTRA), which has announced they want the Nevada Supreme Court to rule on whether or not the short-term regulations county officials have laid in place are constitutional or not.

GLVSTRA has been engaging in a legal battle with Clark County regarding what they refer to as overly strict and intrusive ordinances put in place regarding homes rented through services such as Airbnb and Vrbo. In February, District Court Judge Jessica Peterson ruled that aspects of the ordinances are unconstitutional and issued a preliminary injunction to temporarily block them.

Sections of Clark County’s ordinances that Peterson declared unconstitutional included a clause that mandated that those seeking to establish a short-term rental must sign their application under penalty of perjury; in addition, random inspections of rental properties with no notice, vague definitions over what is considered a “party” or a “disturbance,” and the ability of the county to issue “discretionary fines and penalties” were also temporarily struck down by last month’s ruling.

Despite clearing that legal hurdle, GLVSTRA appealed to the Nevada Supreme Court this week because they say their full array of claims against Clark County were not addressed by the District Court Judge’s ruling, according to GLVSTRA President Jacqueline Flores.

Flores said that her organization takes particular exception to Clark County’s use of a lottery system to determine which short-term rental applicants will be granted licenses, in addition to requirements mandating specific minimum distances between rental properties and hotels.

Despite attempts to sit down and hash things out with Clark County officials, Flores said the two sides were unable to come to a fair and equitable arrangement, thus necessitating the organization’s move to appeal the case to the state’s highest court.

“We have been trying to work with the county commissioners in good faith and they have refused to do that so far,” Flores said. “We need a Nevada Supreme Court ruling. That way we’re able to address all those municipalities at the same time, and ultimately the entire state.”

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 an effort to crack down on potentially disruptive and loud partying during spring break season, Las Vegas police have been conducting unannounced and random spot checks on short term rental properties to ensure that occupants are adhering to local laws and ordinances and not creating a disturbance for their neighbors. 

Reports indicate that police have been showing up to properties rented out through services such as Airbnb and Vrbo throughout the city and unexpectedly knocking on doors, reminding the short-term renters within that holding loud parties or allowing underage drinking is illegal and will be enforced if encountered by authorities. 

Police noted that the large increase in spot checks is a common department policy during periods of time such as spring break where excessive partying is anticipated. 

However, the validity of the spot checks have been questioned by the Greater Las Vegas Short Term Rental Association (GLVSTRA), with the organization claiming they have not been receiving any complaints from neighbors of short-term rental properties in the city.  

At a time when Las Vegas faces a shortage of police officers, the county should be far more interested and concerned on using these officers to answer emergency calls from residents and reducing response time for far more serious issues in the Valley,” GLVSTRA said. 

Proposed rules and ordinances governing Airbnb and Vrbo rentals have been a regular bone of contention between Clark County officials and the short-term rental industry. In particular, Clark County has ordinances in place that ban holding large parties, weddings, and other events on short-term rental properties where the attendance would exceed the maximum occupancy limit of the dwelling in question. 

However, in February a Clark County District Judge ruled that the county’s definition of what constitutes a “party or wedding” was worded in a way as to make it “vague and ambiguous.” 

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 – Following a lawsuit filed by the Greater Las Vegas Short-Term Rental Association (GLVSTRA), aspects of Clark County’s new regulations governing the local short-term rental industry have been ruled by a District Court judge as being unconstitutional.

GLVSTRA’s lawsuit sought to temporarily block a law set into place in the form of a Nevada legislature bill known as AB 363, which added new ordinances in June 2022 regulating short term rentals in the state. In turn, unincorporated Clark County was subsequently tasked with handling oversight of the industry within its borders and was mandated to create their own set of regulations.

However, GLVSTRA founder Jackie Flores said that the new regulations – both on a local and state level – clearly infringe upon the rights of property owners who wish to rent out their residences via services such as Airbnb and Vrbo.

Last week, Judge Jessica Peterson granted GLVSTRA a temporary injunction. The regulations that have been ruled unconstitutional include signing the business license application under penalty of perjury, inspections with little or no notice, vague definitions of what constitutes a “party” or a disturbance, and the issuance of “discretionary fines and penalties.”

“The Court specifically finds that certain provisions within the Ordinance are unconstitutionally vague and overbroad and fail to provide notice sufficient to enable a person of ordinary intelligence to understand what conduct is prohibited,” Judge Peterson wrote in her ruling. “Accordingly, the provisions of the Ordinance identified in this Order shall hereinafter be enjoined from enforcement and implementation.”

However, the injunction does not stop Clark County from issuing licenses, with the six-month application process concluding in March; over 500 individuals have applied for a short-term rental license so far.

Judge Peterson’s orders are separate from GLVSTRA’s lawsuit. The next steps in the organization’s lawsuit are currently not known.

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 – Roots Homes is a Las Vegas-based startup that is helping residents of the city to achieve the dream of buying a home via a process known as “fractional homeownership,”  

Fractional ownership in real estate is when individuals own a percentage of a property and share usage rights. Fractional ownership splits the cost of an expensive purchase among several people, and Roots Homes feels that this method can be helpful to millennials and Gen Z individuals who may be facing an uphill battle saving up the funds needed for a down payment. 

Roots co-founder Lauren Self noted that their first client moved into a home in November, and that their tenth client is set to move into their home this week. 

“Our primary purpose is to help people access the largest wealth-building tool that Americans have access to in their whole entire lives, which is homeownership,” she said. 

Self said that she hopes that fractional homeownership – as opposed to other alternative means of acquiring a home, such as rent-to-own – will put more Southern Nevada residents in the path to owning their own homes by allowing them to move from being a tenant to being an actual property owner, a plan that Las Vegas Realtors President Lee Barrett said is “really creative.” 

“It’s not a new concept,” Barrett said. “But it’s a really interesting concept on how it’s broken it down. So I think it’s a good idea.” 

How it works is simple- Roots clients sign a lease for 12 months for a Roots-owned home, during which their monthly payments cover all expenses while ten percent of those payments is set aside toward building equity in the home. No down payment is required. 

However, if a client wants to pay more each month in order to build equity faster, they have that option as well, and at any point during the lease, they have the ability to purchase the home from Roots outright if they are able to.

Roots clients need to have a credit score of over 600 and a monthly income that is three times the monthly rent. 

Fractional ownership offers financial flexibility to individuals looking to buy a home and allows them to live in the house for a year or two to make sure they truly like it before they buy 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 – California-based MG Properties announced this week that they have acquired Tribeca North Apartment Homes in the Las Vegas metro region for $81 million.

Tribeca North Apartment Homes, located at 3825 Craig Crossing Drive, is comprised of 312 luxury “low-density” apartment units and boasts numerous resort-style amenities. The individual units offer functional floorplans and parking garage access is available to tenants.

The facility also offers access to employment centers for those looking for an easy commute to work, including over 57 million square feet of industrial buildings in North Las Vegas and the 2.3 million square-foot Helios mixed-use medical campus, which is currently in-development.

The apartment complex is also located just minutes from the famed Las Vegas Strip, which offers a plethora of both employment and entertainment options.

Residents of Tribeca North Apartment Homes can enjoy numerous communal perks, such as reserved covered parking; an indoor/outdoor state-of-the-art fitness center; a resort-style pool with oversized spa and lap pool; terrace featuring barbecue pavilion and outdoor fireplace; two fenced dog parks with pet watering stations; and a resident social lounge with demonstration kitchen and vintage arcade games.

“We encourage a stress-free lifestyle at Tribeca North,” the facility’s website reads. “Our amenities are the perfect example of that. Covering all your needs (and wants) our community of one, two, and three bedroom apartments brings you stunning in-home finishes and a premier amenity suite.”

The previous owner of Tribeca North Apartment Homes was The Bascom Group, which was represented in the sale by Spencer Ballif, Adam Schmitt, and Jannie Mongkolsakulkit of CBRE. The purchase was funded via a Fannie Mae loan provided by Bryan Frazier and Blake Hockenbury of Walker & Dunlop.

The acquisition of Tribeca North Apartment Homes represents the first for MG Properties in 2023; currently, the firm owns and operates over 2,000 apartment units in the greater Las Vegas area.

For more information on availability at Tribeca North Apartment Homes please visit https://www.livetribecanorth.com or call them at (844) 521-1659.

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 – Clark County has begun to seriously ramp up enforcement of its rules that forbid illegal short-term rentals within its boundaries according to the Greater Las Vegas Short-Term Rental Association (GLVSTRA), issuing significant financial punitive measures against over 200 violators thus far.

GLVSTRA co-founder Luis Koorndyk noted that Clark County – between July 1 and November 23, 2022 – has so far issued 217 citations with fines and liens, with some reaching as high as $750,000.

“Everyday we’re hearing a story,” he said. “They’ve been fairly consistent, but in the last three- or four-months, enforcement seems to have really ramped up.”

Those looking to operate a short-term rental within the confines of Clark County have until March 13 to submit an application into a lottery that will ultimately issue 2,800 licenses, which means that only a limited number of applicants will be chosen.

Currently, the specific date that the licenses will be issued has not yet been revealed, but enforcement measures have been in effect for several months now. Individuals currently operating short-term rentals in Clark County – such as through services as Airbnb and Vrbo – without licenses are deemed to be doing so illegally and are subject to fines.

Koorndyk noted that the number of short-term rental landlords which have been fined so far only represents a small fraction of those who have been operating illegally.

“We’re looking at 98 percent of all operators, code enforcement doesn’t even know where they are, because they’re not being turned in,” he said. “They’re not being turned in because there are outstanding operators. That’s only 2 percent that they have a problem with.”

Currently, enforcement of illegal short-term rentals in Clark County consists of fines ranging from a minimum of $1,000 a day to a maximum of $10,000 a day.

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 owners of short-term rentals and members of the Greater Las Vegas Short-Term Rental Association (GLVSTRA) were granted a preliminary injunction last week against Clark County regulations governing the local industry they criticized as being “stricter than required by state law.”

Clark County commissioners had imposed numerous regulations upon short-term rental hosts including occupancy limits, minimum stays, distance separation, and their responsibilities as rental operators; some of the ordinances that hosts took exception to include the following: 

• Not more than one percent of housing in the county can operate as short-term rentals
• No more than one license per person
• Maximum occupancy of two people per bedroom or 10 people per unit
• Bookings must be a minimum of two nights
• Minimum two-night stay for every reservation
• Not within 1,000 feet of an existing short-term rental
• Hosts must allow the County to inspect the residential units without advance notice
• Misdemeanor citations for violations of this ordinance, thus opening the possibility of criminal liability for issues as minor as the placement of trash 

Hosts in Clark County – who have been applying for licenses rent out their homes through services such as Airbnb and VRBO – berated the regulations, saying that they interfered with their ability to run a successful business.

In November 2021 short-term rental owners and GLVSTRA sued Clark County, with GLVSTRA founder Jackie Flores saying that their property rights were violated by the regulations.

“Our position is that both the state law and the Clark County ordinance just goes too far where it’s actually violating people’s constitutional rights and freedoms,” Flores said at the time. “They have a provision in the ordinance that says any Count Official can come to your private home at any time whenever they feel like it and for whatever they want and you have to let them in your property. You have to let them in your house and we felt like that was like you’re going way too far.”

Last week a judge granted a preliminary injunction against Clark County, preventing the ordinances from being enforced pending a comprehensive review by the court to determine if indeed the rights of rental owners are being violated or not.

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 – Around the world, few cities have the reputation that Las Vegas does when it comes to serving as a destination for extravagant New Year’s Eve festivities, and apparently AirBnb realizes this, as the well-known online short-term rental business has decided to impose a very strict series of rules for those looking to party in Sin City to ring in 2023. 

In an attempt to curb noise complaints and other issues expressed by homeowners in neighborhoods where AirBnb rentals are located – which are popular venues for tourists to host New Year’s Eve parties – the company announced that they will be going all-out this year to ensure that guests are adhering to all rules and local ordinances, particularly as they pertain to the use of the properties by unauthorized individuals. 

AirBnb, as they have in recent years, will continue to enforce their policy of not allowing one-night rentals in Las Vegas for New Year’s Eve; this pertains to not just apartments, but especially homes as well, as private residences have been responsible for numerous complaints over the years from neighboring homes. 

In addition, AirBnb will also only allow renters this New Year’s who have engaged their services previously, and who have a history of positive reviews; those who have received negative reviews from hosts – or who have no history at all, good or bad – will be barred from renting an AirBnb in the vicinity of New Year’s Eve. 

This policy is not exclusive to Las Vegas; AirBnb will be enforcing it with all of their rental partners throughout the country as a means of ensuring the safety and well-being of both tenants and homeowners. 

“We continue to draw a hard line on disruptive parties and emphasize safe and responsible travel during a weekend where we know some may be more inclined to try to throw an unauthorized party,” the company said in a statement. 

Since introducing the policy, AirBnb has noted that the number of out-of-control shindigs at their rental properties have dropped by 56 percent, which should hopefully go a long way to appeasing neighboring homes in areas with AirBnb units as they celebrate the arrival of the new year. 

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 – An injunction hearing scheduled for this past Thursday regarding a lawsuit filed by a group of short-term rental owners that alleges that Clark County is violating their property rights has been delayed for December 19, further drawing out the legal process that had originally begun when the case was filed this past August.

The lawsuit, brought by the Greater Las Vegas Short-Term Rental Association (GLVSTRA), is seeking to temporarily block a law set into place in the form of a Nevada legislature bill known as AB 363, which added new ordinances in June regulating short term rentals in the state. In turn, unincorporated Clark County was subsequently tasked with handling oversight of the industry within its borders, and were mandated to create their own set of regulations.

GLVSTRA founder Jackie Flores said that the new ordinances – both on a local and state level – clearly infringe upon the rights of property owners who wish to rent out their residences via services such as Airbnb and Vrbo.

“Our position is that both the state law and the Clark County ordinance just goes too far where it’s actually violating people’s constitutional rights and freedoms,” Flores said. “AB 363 makes it hard for people to get a license and once you get a license, it makes it easy for people to get in trouble for minimal things.”

Some of the contested regulations created by Clark County officials include no more than 10 people in a property, minimum two-night stay reservations, rentals being no closer than 1,000 feet one another, and no-warning, on-the-spot county inspections, among others, Flores said.

“They have a provision in the ordinance that says any Count Official can come to your private home at any time whenever they feel like it and for whatever they want and you have to let them in your property,” she said. “You have to let them in your house and we felt like that was like you’re going way too far.”

Flores added that the cities of Henderson, Las Vegas, and North Las Vegas offered compliance periods right after their respective ordinances were passed, but that Clark County did not follow suit.

In addition, the application process being offered to get licensed – including an upcoming permit lottery –  is overly convoluted and cumbersome, Flores claimed, and will likely result in as many as 80 percent of the over 12,000 illegal short-term rentals in Clark County not being able to legitimize themselves.

“Right now they have a pre-application period of six months,” she said. “That period is just really you pre-applying but nothing really happening, and then after those six months then they’ll have at some point in time they still don’t know when a lottery then you move onto the next step which is application to the license.”

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

LAS VEGAS, NV – For entrepreneurs seeking an integration of their life and work experience into a single flexible space, Juhl, located in downtown Las Vegas, offers the unique combination of a luxury condominium with office, commercial or retail space that’s sure to appeal to go-getters looking to establish their brand while living where they work.

Juhl provides tenants with two-story live-work condominiums that provide visible street-level space for business, combined with separate, private second-floor living space that allows a seamless blending of living and working environments. The live-work condos range in size from 1,359 square feet to 1,993 square feet and cost in the range of $550,000 to $650,000, with building management offering a $25,000 tenant improvement credit to help the tenant to customize their space.

The block-sized Juhl, located on Bonneville Avenue, is the only mixed-use development in Las Vegas’ downtown area, and has a wide variety of businesses occupying its street-level business sections, from restaurants to retail establishments. All Juhl units are zoned for commercial use and include access to a private parking lot as well as ample street parking for customers and clients of its tenants.

The actual commercial units themselves are spacious and can be easily customized, with high ceilings, floor-to-ceiling windows, concrete flooring, a rear entrance, and a half-bath. And as for the second story living space, Juhl’s tenants have access to a one-bedroom, one-bath unit with a private entrance, balcony, and a contemporary kitchen with stainless steel appliances and granite countertops.

Juhl tenants also have access to a variety of amenities, including a two-story fitness center, a resort pool, dedicated concierge, 24-hour security, summer kitchens and grilling stations, movie theater, a Vino Deck, private pet walk and electric car charging stations.

For anyone interested in starting their own business and enjoying a conveniently-located space to call home in order to create a healthy life/work dynamic, Juhl offers a unique and dynamic way to achieve this goal.

For more information visit https://www.juhllv.com call (702) 816-5466.

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 – As Las Vegas’ real estate market begins to cool down overall amid rising mortgage rates and record inflation nationwide, the massive rent increases tenants have been seeing have started being walked back recently.

While the average rent in Las Vegas in August was approximately $1,890 – representing an 8 percent jump from the same period of time in 2021 – it’s a far cry from the whopping 25 percent increase rents experienced from August 2020 to August 2021, reports say.

So, while rents are still going up in some instances, the degree of which – with the amounts being called “unsustainable” in the long run by experts – appear to be slowing down significantly, and in some cases going down slightly.

According to Susy Vasquez, interim executive director of the Nevada State Apartment Association (NVSAA), part of that reason is the overall change of the rental market in Las Vegas when compared to last year.

While still a popular destination for many transplants from elsewhere in the country, Vasquez notes that the overall the number of people moving to Southern Nevada is lowering and, due to high prices, more rental units are sitting on the market for longer periods of time. As a result, some landlords are offering various concessions to prospective tenants, such as lowered rent.

But despite these changes in the market, experts say that demand is still “very high” when compared to most other places in the country – due to the still-relatively low cost of living and booming job market – and the current high cost of homes is driving many to rentals until prices come down.

Renting in Southern Nevada is expected to further stabilize in light of a $500 million affordable housing plan launched by Governor Steve Sisolak in early 2022, which would provide funding for initiatives such as new multifamily development, rehabilitation and preservation of existing properties, land acquisition for new construction, and homeowner financial assistance.

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.