October Las Vegas Rental Market Update

As we move into the slower season for the Las Vegas Rental Market, we are seeing more and more homes, town homes and condos hitting the market.  The reason is the re-sale market is hot right now.  Housing inventory is down and the market is saturated with real estate investors looking to score with home prices so low.  Real Estate Investors are buying at such discount prices, it is allowing them to pick up multiple properties which in turn, they are placing back on the market for rent at rates lower than market value.

The Las Vegas Rental Market currently has almost 5,000 available homes, town homes and condos.  This number doesn’t even reflect the amount of properties currently for rent by landlords.  To get homes rented, many landlords are forced to lower the rent or offer move-in incentives.  Potential tenants are aware of the excessive amount of properties for rent and are requesting incentives in order to sign a lease.

If you are a landlord or real estate investor looking to rent your home, town home or condo, contact Tony Sena with North American Realty of Nevada for all your property management needs.  See why our marketing program and tenant screening process is the best in the business.  We can be reached at 702.376.7379 or visit us on our website at http://www.LasVegasPropertyManagements.com or visit us on Facebook!