Nevada

Thinking about renting out a property in Nevada? Whether you own a house in one of the master-planned communities ringing the valley, a condo within reach of the Strip, or something up north with the Sierra behind it, the state offers it all. With offices in Las Vegas, Henderson and Reno, we know a thing or two about managing rentals here — starting with the fact that Nevada sets no statewide ceiling on rent, which makes the notice rules and the deposit rules the parts you have to get right.

Those three offices look after single-family homes, condominiums, small multifamily buildings and commercial space. The work is the same in each city — marketing the property, placing a resident, collecting the rent, handling maintenance, sending you a statement every month — but the southern market runs on tourism and the northern one does not, and they do not move in step. A good many of the owners we do this for do not live in Nevada at all.

Internationally renowned as a resort city, Las Vegas is well known for its nightlife, casinos, shopping, and fine dining. Located on the southern edge of Nevada, it is the commercial and cultural center of the state and the greater Mojave Desert region. It’s also the most populated, with over 641,000 residents as of 2020; the surrounding metropolitan area has a population of over 2,227,000.

Sometimes referred to as the Entertainment Capital of the World, the economy in Las Vegas relies heavily on tourism. The city is home to more AAA Five Diamond hotels than any other city on the globe, and annually ranks as one of the most visited tourist destinations. In addition to its large casinos and hotels, a variety of industries flourish in Las Vegas, including mining, natural resource technology, information technology, healthcare, and aerospace and defense — and that breadth is what keeps rental demand steadier than the Strip’s reputation suggests.

The wider picture across the state is a supply story. We can trace the disparity between housing supply and housing demand to the unprecedented number of new residents flooding into Nevada. With a relatively manageable cost of living, strong economy, good weather, and beautiful scenery, Nevada has never looked more attractive, especially now that so many young professionals are working remotely. Developers and builders simply cannot keep up with demand, and that shortage is what an owner is really pricing against.

Henderson, immediately southeast of Las Vegas, is where a good deal of that demand settles. It is the second largest city in the state, quieter, heavily master-planned, and it tends to attract longer tenancies and families rather than the churn you see closer to the Strip. Up north, Reno is a destination in itself, host to popular casinos and resorts serving an audience composed of both native Nevadans and out-of-state visitors, and it is the last big city on the road to Black Rock City, which brings its own short, sharp economic surge at the end of every summer. Each office page carries its own pricing, the manager responsible and a direct number.

Las Vegas is known for its world-class entertainment scene, vibrant nightlife, and sunny weather. While most associate Las Vegas with tourism and casinos, there is far more the city offers making it a great city for those looking for a diverse and exciting community — and that is exactly why it works as a rental market rather than only as a resort.

While the city itself may be located in a desert, there are plenty of outdoor activities in the surrounding areas from camping to boating to fishing. The Red Rock Canyon National Conservation Area is a beautiful natural wonder just outside the city’s borders. If you’re looking for excitement, you’ve come to the right place: Las Vegas offers year-round shows, concerts, and festivals in addition to the already bustling nightlife that the city is known for, and it is a cultural hub with a handful of museums, galleries, and theaters which attract artists, performers, and entertainers from all over the world.

Of course, Las Vegas is a major tourist destination meaning that job opportunities in the tourism and hospitality industry are always booming. The city has also grown into a major tech sector and established healthcare industry, opening up the job market. Las Vegas is a melting pot of different cultures and backgrounds housing residents from all around the world, and that diversity is reflected in the city’s food, in its neighborhoods, and in what a tenant is actually looking for.

Submarkets here move independently, which is the single most useful thing to know before pricing a property in the valley. The last time the metro corrected, home prices in Summerlin South were still climbing while Winchester, Henderson and Boulder City were all falling — and by very different amounts. An owner working from a metro-wide figure will misprice a house in any of them.

Reno is a vibrant and growing city in northwest Nevada offering a unique lifestyle to its residents with stunning natural scenic surroundings for ample outdoor recreation, plenty of career opportunities, and access to arts and culture. A major draw is the natural beauty surrounding the city: from the snow-capped peaks of the Sierra Nevada mountains to the crisp, crystal-clear waters of Lake Tahoe, you’ll find an abundance of outdoor recreational activities that speak to nature enthusiasts and allow them the opportunity to ski, hike, fish, and take in the breathtaking views.

The city is also home to a vibrant and exciting arts scene. There is a rich history of Reno that is reflected in its museums, galleries, historical landmarks, and the community. There are several art galleries, local theater companies, live music venues, and opera houses in the area attracting talent from around the world, and the city hosts a number of festivals throughout the year such as Artown, the Reno Riverwalk Festival, and the Biggest Little City Art & Culture Festival. The University of Nevada, Reno is also located in the city and is home to a number of performing arts organizations for students to get involved in.

Reno has a diverse economy with leading industries in healthcare, tourism, and technology. In recent years it has become a tech hub, with companies like Tesla, Apple, and Google establishing a presence in the area, and that has made it an attractive and exciting city for those looking to start a new career or establish a business. The Riverwalk District in downtown Reno has become a popular neighborhood to call home due to its walkability and variety of shops, restaurants, and bars, while quieter pockets like Copper Knolls serve a completely different tenant.

Nevada sets no statewide limit on how much you may raise the rent, and no Nevada city currently imposes one. That makes this a simpler state to operate in than Washington, Oregon or California — but it also means the rules that do exist carry all the weight, and a notice served short or a deposit returned late is the whole of the exposure. Every line below links to the page it was taken from so you can check it yourself.

The absence of a cap is not the absence of risk. A deposit dispute in Nevada turns on whether the itemized accounting was specific and whether it arrived inside the thirty days, which is a documentation problem rather than a legal one — and documentation is something a manager either does on every tenancy or does not do at all. Local rules on short-term letting differ sharply between Las Vegas, unincorporated Clark County and Henderson, and those sit on the office page for each.