Investors Short Term Rentals Are Tough Work In Vegas

Dated: 09/26/2017

Views: 52

Investors: If you are thinking of purchasing a home for short-term rentals in Las Vegas, know that the city of Las Vegas enforces the rules.

As of June 21, 2017, the rules for short-term rentals include:

  • You must purchase a $1,000 special-use permit

  • You must pay for a state of Nevada business license if you don't already have one ($200)

  • You have to purchase liability insurance for a minimum of $500,000 (a good idea regardless)

  • You have to display a placard in each rental unit with your 24-hour contact information

  • There is a hotline for complaints that the city mans 24/7. (702.229.3500)

  • Your short-term rentals can't be within 600 feet of another one

  • Image result for party house

What's the definition of a short-term rental? A lease for less than 30 days.  

No landlord can guarantee when you first meet tenants that they will behave. Manage your properties closely if you decide to play this game.

Why the stringent rules? Because locals want everyone to party on the Las Vegas Strip, not in our neighborhoods!

Are rentals a good idea in Las Vegas? As Vegas's most caring landlord for 21 years, I know long-term rentals can be just as difficult. But the costs are far less and stability is delicious when you get a great tenant. And they are out there!

Either way, there's good money to be made owning any kind of rental property in Las Vegas. You just have to work for it!

P.S. If you are interested in purchasing a rental home in Vegas, reach out. I have the battle scars...and bank account to prove it! And if you purchase from me, I will include a copy of my court-tested 26-page lease.

((Hugs)) BETH Ellyn

THE Las Vegas Real Estate Concierge

702.758.4318  Talk. Text. SMS. Video chat  Google Hangouts

@yale1974  Twitter

BA: Yale
MS: Columbia

MBA: L'ecole du Hard Knocks

Licensed in Nevada since 1996: I have previous!

When competence AND creativity matter!

Latest Blog Posts

Balancing Risk And Deductibles

The benefit of insurance is to transfer the risk of loss to a company in exchange for a premium. The deductible is an amount the insured pays out of pocket before the insurance starts covering the

Read More

Summerlin Ranks Number 4 In New Home Sales Nationally In 2017

RCLCO, a real estate consultancy, ranks master-planned communities every year based on sales. Our Summerlin ranked No. 4 this year. Summerlin is located in the northwest corner of the Las Vegas

Read More

When To Avoid Flying In And Out Of Las Vegas McCarran Airport

Even though Las Vegas's McCarran International Airport is one of the most passenger-friendly airports on the planet--universal FREE Wi-Fi!!!!!, flying is still a hassle.  So I am going to help

Read More

Now You Can Gamble AND Recharge Your Device At Palace Station Las Vegas

Nothing's worse than realizing your device has less than 10 percent battery life left. And that's especially bad when you're on a hot streak at the Vegas tables!Station Casinos has fixed this,

Read More