Area Real Estate News & Market Trends

You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

Oct. 27, 2022

What a Recent Court Case Means for Landlords

This court case was interesting for two very important reasons.

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Oct. 6, 2022

Why You Need a Property Manager

How we helped our client resolve an issue with their rental property.

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Aug. 8, 2022

What You Need To Know About Property Taxes

 

Here’s what property owners need to know about bifurcated property taxes.

 

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Do you understand bifurcated property taxes? This can be a tricky topic, so today I’ll explain everything you need to know about these types of taxes in our area.

 

The bifurcated property tax was implemented in 2005. Essentially, if you’re a private homeowner, your property taxes are capped at 3%. If you own an investment property, the cap is 8%. When you own a property, you’ll receive a postcard from the government where you’ll indicate if your property is a primary residence or an investment.

 

Rental properties are a bit of a gray area. When you receive your postcard, you should note that a property is a rental and how much you charge for rent. If your monthly rent is below a certain amount, you can qualify for the 3% property tax. If your rent is above the amount, your property will be treated as an investment and have an 8% cap. 

 

"Make sure you aren’t paying more than you need to."

 

The issue with this system is that we have to rely on the postal service to deliver the mail. If the county doesn’t receive your postcard, they automatically push you up to the 8% cap. Considering how unreliable our postal service can be, this happens often. Once you correct this error, you can only be reimbursed for the last year of property taxes. The law is a little unclear on this issue, so I’ll look into it further and let you know what I find. 

 

In the meantime, please call or email me with any questions about today’s topic. I look forward to hearing from you! 

 

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Click here to download the Clark County Assessor's Office Tax Cap Form.

Posted in Real Estate Tips
July 6, 2022

How We Can Make More Affordable Housing

 

Why rent control won’t lower rents, and what we should do instead.

 

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There’s been a lot of talk about rent control recently, and the Culinary Union even introduced a ballot initiative to implement rent control in North Las Vegas. The issue with rent control is that while it sounds good, the places that enact it end up having the highest rents in the country. Rent control tends to stifle supply. 

 

People who want rent control really want affordable housing, which we also want. Rents have gone up so much that many don’t have the jobs to support the payments anymore. The rental market has reached a standstill, but the answer isn’t rent control. The way to create affordable housing is to increase the housing supply. 

 

"While rent control sounds good, it only ends up stifling supply."

 

However, Nevada has a problem with just building more housing. We have the highest percentage of federally owned land of any state in the country. Clark County is almost 90% federally-owned land. We have to buy that land back at an exorbitant price and then somehow still build affordable housing on it.

 

It will take a lot of negotiating, navigating bureaucracy, and working with our federal representatives to get that land back at a cost that lets us build the housing we desperately need. It’s a big problem, and we’d like to take it on, but we need the right people in place to help find a reasonable solution.

 

If you’d like to talk more about this issue, feel free to call or email me. I’d love to hear from you.

Posted in Other
May 6, 2022

Who Won March’s Tidy House Drawing?

Watch me impartially choose the name of our Tidy House winner for March!

 

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Though this blog is coming out a bit late, it’s time for March’s tidy house drawing! Watch the video above to see me fairly choose a winner from our Guardian Realty bucket. Drum roll please… and the winner is Charne from Rawhide Courtcongratulations! It’s such a pleasure to be able to reward our tenants who are taking excellent care of our houses. 

 

If you ever have any questions or want to learn more about our benefits program, please give us a call or send an email. We’d love to help you.

Posted in Other
April 22, 2022

A Word About Rent Control Legislation

Is rent control as good as some legislators say? Here are my thoughts.

 

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Rents have skyrocketed across the United States, and Nevada is no exception. I’ve been raising rents at a much higher rate than I ever have in the 10 years that I’ve rented out properties. The idea of rent control is altruistic, but the reasons that we’re in this so-called rent bubble are inflation and continued government interference in a market that should be left to work itself out.

 

Rent control has the opposite effect of what legislators intended. Places where rent control has been implemented, like San Francisco and New York, have the highest rents in the country—and it’s because of rent control. Fewer people move into these areas because the people who got a great deal on rent decades ago have no motivation to move, which reduces the supply of available properties. That, in turn, increases demand.

 

"Rent control has the opposite effect of what legislators intended."

 

That has the effect of drastically increasing the prices of those properties that do end up on the market. When I lived in San Francisco, a little studio apartment that might just have a kitchenette and bathroom could cost as much as $5,000 or $6,000!

 

Hopefully this has inspired you to do your research on the effects of rent control. If you have any questions or would like to talk about this in more detail, feel free to give me a call or send me an email. I look forward to having an open and honest dialogue with you.

Posted in Real Estate Tips
April 12, 2022

Tidy House Giveaway for February

Here’s the drawing for the February winner of the Tidy House drawing.

 

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It’s time for another Tidy House drawing! Before I choose February’s winner, I have some really cool news to share about our tenant rewards program.

 

Today I got an email from Piñata, the rewards company we use, saying that one of our tenants also won their drawing and will be issued $1,000 today. Just know that when you're a tenant of ours, we take good care of you. We’re happy to reward tenants who are taking care of our properties and paying their rents on time.

 

Without further ado, the Tidy House winner for February is Robert at Park City. Congratulations, Robert! You have a $250 gift card on the way.

 

If you have any questions about our rewards program or anything else, don’t hesitate to reach out via phone or email. We look forward to hearing from you soon.

Posted in Other
Feb. 18, 2022

How We Encourage Tenants To Keep Things Tidy

Our tidy house drawing encourages tenants to maintain the property.

 

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A few years ago, my husband and I sat down to solve a problem. Every six months, we would visit all the rental properties we manage and do preventative maintenance, but the tenets weren’t always complying with the scheduling. We realized that they didn’t have any incentive to schedule a time to change out the air filter, spray for bugs, check the smoke detectors, etc. 

 

We came up with the tidy house drawing. When we see a house, it is entered into the drawing if it meets the six criteria for a tidy house. Those criteria use the same verbiage as our lease agreement on what is expected to maintain the property. Every month, we hold a drawing, and a tenant will win $250. The tenets now pay a small fee toward preventative maintenance to essentially fund this rewards program.

 

We started doing this before COVID, but it was harder to get into the houses safely during the pandemic. We started looking into other ways to reward the tenants, like encouraging them to pay the rent on time. We signed up with a company called Piñata. They get a monthly report that lets them know which tenants have paid on time, and those tenants get points on their app. As they build up their points, they can get gift cards to Target, Walmart, restaurants, and all sorts of other places.

 

After each drawing, we usually tell the owner that their tenant won. We’ll also call the tenant, post the drawing results on our Facebook, and set up a time to bring them their gift card. Coming out in person gives us more time to talk with the tenant and walk the house in a more leisurely fashion and see if there’s anything that needs a little more attention. 


The winner for January is David at Red Oak Canyon. Congratulations, David! This drawing is always one of the best parts of my job. I love being able to reward people for just being good tenants. If you have any questions, feel free to call or email us. We would love to hear from you.

Posted in Real Estate Tips
Jan. 21, 2022

Don’t Be Gouged by Vendors

A story that proves why you need to be careful when working with vendors.

 

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I manage a couple of high rises, and they require a certain amount of insurance, particularly for plumbing because if it’s not done right, it can flood multiple units. There are many plumbers out there who like to gouge people with their prices. 

 

The other day, I had a plumber that I worked with a couple of years ago come out to a high rise to replace a garbage disposal. He quoted me $450, which is a little high for a garbage disposal, but you sometimes have to take what you can get for a high rise. However, last night he sent over the invoice that now says it’ll be $635, which is beyond what I’m allowed to spend without owner approval. 

 

When I questioned him about it, he said that there’s a diagnostic fee of $185, but when I broke down the math with him, the disposal costs $100, the diagnostic fee is $185, which means he’s charging me $450 for his labor. His labor took less than half an hour, which means he’s making two times “per hour” more than an anesthesiologist, who makes $198 per hour. I told him I’d be paying him $450 since that’s what he originally quoted me, and we would no longer be doing business together. I have to find another plumber who is willing to work on high rises. 

 

The lesson to take away from my story is that it’s crucial to ask plumbers what the full cost will be (even though I did ask that), to ensure they don’t add extra fees. If I hadn’t asked that originally, I may not have known how much I was being gouged by this plumber. It’s also critical to have a professional property manager working for you who understands the cost of materials, knows the time it takes to repair things, and can navigate vendors and push back if needed so you’re not taken advantage of in any situation. 

 

Feel free to contact me via phone or email if you have any questions or concerns about this topic. I would love to speak with you.

 

Posted in Real Estate Tips
Dec. 17, 2021

Happy Holidays!

From our team to your family, we want to wish you a happy holiday season.

 

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Happy holidays to you!

 

The holiday season has officially arrived. We hope you enjoy this wonderful time of year and make some fantastic memories.

 

We wanted to take a moment to thank you for your continued support. We love helping people make their real estate dreams come true, so thank you for working with us and supporting our business.

 

This may be a busy time of year, but we are always here to help you and answer any questions you may have. Give us a call or reply to this email; we’d love to help you. 

 

In case we don’t hear from you until 2022, have a happy New Year!

Posted in Other